Students splash more cash on rent
Average rent rates for students in the UK have risen by seven per cent compared to last year, according to a new report by Accommodation for Students.Social housing website 24dash published the report findings showing that an average UK student would pay £60 per week for their digs in 2007, which is four pounds more than 2005. Yet this figure does not reflect the experience of all students, as rents vary dramatically depending on which university is attended and its location.London remains the most expensive place to study, where spending £102 per week on rent is the norm, at 71 per cent above the overall UK average. Oxbridge students also pay more with those attending Cambridge expecting to shell out £84 per week, 42 per cent above the national average.Accommodation tends to be cheaper around less popular universities such as Crewe, Middlesbrough and Stoke, where the average weekly rent bills are £37, £38 and £40 respectively.Simon Thompson, co-founder and director of Accommodation for Students, commented: "Now that students are accumulating large borrowings to subsidise their study the cost of accommodation has become a critical factor in their choice of university."
Are you prepared for the Mortgage Market Review?
09/04/2014 As of 26th April, the Mortgage Market Review (MMR) will come into effect. This will affect everybody hoping to apply for a mortgage, including those re-mortgaging their homes. This is because applying for a mortgage will become a more rigorous process. Mortgage lenders will soon be obliged to check each mortgage applicant’s finances and ability, in order to decide how much a mor...Read More
The Financial Services Authority gets tough with rogue traders
It has been revealed that the Financial Services Authority (FSA) has issued a total of £8.1 million in fines so far in 2009 against just £3.8 million for the same period last year. While this is a significant increase over the relevant period in question, the 12 month comparison is even larger with fines totalling £27.3 million issued, a rise of 514% on the corresponding period last year.
RDR – don’t be left in the Dark
Amid the positives that the Retail Distribution Review (RDR) is likely to bring, especially in reference to the standard of financial advice given, there have been those that have expressed their concern about the amount of people that could be set to miss out on advice in the future. It is thought that the fees that will be charged from the New Year by financial advisers will make it impossible f...Read More
One-in-four would change location to get on the housing ladder
One-in-four first-time buyers would consider moving to a different part of the country to stand a chance of getting on the housing ladder, according to a poll by Abbey Mortgages.A shocking one-in-six would even consider moving abroad and the same number would take on three jobs if it meant that they could afford their first home. The research found a shift in attitudes towards getting on the prope...Read More
Bonfire of the quangos
Vince Cable, the business secretary, has this week announced plans to abolish a number of quangos looking into intellectual property, international trade and the disposal of electrical waste. While many of these quangos operate behind-the-scenes, and very rarely invite publicity, the four business quangos under review cost in the region of £8.6 million year to run. So who will replace these opera...Read More