HSBC has captured the headlines by launching Britain's lowest fixed-rate mortgage, allowing homeowners to borrow at 2.99% for five years. It's an excellent headline rate that easily beats the next best rate in the market, which is 3.69%.
However, don't get too excited. It's only available to buyers with 40% deposits or at least that much equity (the estimated sales value less any mortgage) in their house. That will put it out of reach of most first-time buyers, meaning it will do little to stimulate the lifeless housing market.
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‘Inheritance tax insurance’ enquiries are soaring – but is it worth it?Premiums for whole of life insurance can run to £5,000 a month to cover a £300,000 inheritance tax bill, with policies costing more the older you take them out.
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MPs warn over Lifetime ISAs which could leave savers out of pocketThe Treasury Committee has highlighted confusion around the Lifetime ISA withdrawal charge, which risks consumers losing “a significant part of their savings”
