Kevin Peachey

1 week ago | bbc.com | Kevin Peachey

Bank of mum and dad 'helps half of first-time buyers'Kevin PeacheyCost of living correspondentGetty ImagesMore than half of first-time buyers received financial help from their family to make house purchases last year, according to estimates by estate agency Savills. An average of £55,572 was given in loans and gifts by the so-called bank of mum and dad to buyers, it said. Young buyers faced relatively high mortgage rates in 2024, while also seeing the cost of renting increase.

1 week ago | bbc.com | Kevin Peachey

Digital powerhouse Uber now accepts cash for faresKevin PeacheyCost of living correspondentGetty ImagesTaxi app giant Uber is now allowing passengers across most of the UK to pay in cash. Following trials, the cash payment option was this week extended to all UK cities, except London, where it is being reviewed. But individual drivers can still opt out of accepting notes and coins, partly if they are worried about safety of carrying them in their vehicles.

2 weeks ago | bbc.co.uk | Kevin Peachey

Cost of living correspondentShops and services may have to be forced to accept cash in the future to help protect vulnerable people who rely on it, MPs have said. A Treasury Committee report into cash acceptance stopped short of recommending a change in the law, but said the government had to improve its monitoring of the issue.

2 weeks ago | bbc.com | Kevin Peachey

Mortgages under 4% are back but dangers lurk for borrowersKevin PeacheyCost of living correspondentGetty ImagesAll major UK lenders are now offering fixed mortgage deals with an interest rate of less than 4%, but brokers say further cuts are not guaranteed. A mini price war has broken out between mortgage providers, although many of the lowest-rate deals still require borrowers to provide a hefty deposit and a substantial fee.

2 weeks ago | bbc.co.uk | Kevin Peachey

Image source, Getty ImagesCost of living correspondentAll major UK lenders are now offering fixed mortgage deals with an interest rate of less than 4%, but brokers say further cuts are not guaranteed. A mini price war has broken out between mortgage providers, although many of the lowest-rate deals still require borrowers to provide a hefty deposit and a substantial fee. More frequent cuts in interest rates by the Bank of England are expected this year, amid global economic turmoil.