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Paid off your mortgage? Five things to do with your money now

At last! You're mortgage-free. But what should you do with the extra cash? Supercharge your finances, says High50’s Julian Knight, and diversify your shares, savings and investments instead

Latest News

  • U.S. new home sales rebound; consumer sentiment dips Reuters - UK Focus - Fri, Feb 24, 2017 17:32 GMT

    New U.S. single-family home sales rose less than expected in January, likely held back by heavy rains and flooding in California, but continued to point to a strengthening housing market despite higher prices and mortgage rates. Other data on Friday showed a dip in consumer sentiment this month, though it remained at a …

  • UK mortgage approvals hit 12-month high in January - BBA Reuters - UK Focus - Fri, Feb 24, 2017 11:06 GMT

    British banks approved the most mortgages in a year last month and consumer borrowing saw some of its fastest growth of the past decade, industry data showed on Friday, contrasting with earlier signs of slowing momentum. Strong consumer demand has driven Britain's economy since June's Brexit vote, but in the past couple …

  • UK mortgage approvals hit 12-month high in January - BBA Reuters - UK Focus - Fri, Feb 24, 2017 09:37 GMT

    British banks approved the highest number of mortgages in a year last month and credit card lending partly revived after a lull in December, industry figures showed on Friday, contrasting with earlier signs of a loss of economic momentum. The British Bankers' Association said its members gave the green light to 44,657 …

  • UK mortgage approvals hit 12-month high in January - BBA Reuters - UK Focus - Fri, Feb 24, 2017 09:33 GMT

    British banks approved the highest number of mortgages in a year last month and credit card lending partly revived after a lull in December, industry figures showed on Friday, contrasting with earlier ...

  • U.S. labor, housing markets data underscore economy's stamina Reuters - UK Focus - Thu, Feb 23, 2017 17:20 GMT

    The number of Americans filing for unemployment benefits rose slightly last week but the four-week average of such claims, considered a better gauge, fell to a 43-1/2-year low in a sign of a strengthening labor market. Other data on Thursday showed house prices increasing solidly in December amid strong demand for housing …

  • Britain's Lloyds hits 10-year profit high as new era beckons Reuters - UK Focus - Wed, Feb 22, 2017 09:22 GMT

    Lloyds Banking Group signalled a complete recovery from the financial crisis on Wednesday with its highest full-year profit in a decade, boosting the British government's ambition to return it to full private ownership in the next few months. As the most exposed among the major British banks to any downturn in the British …

  • Aussie shares flat, Commonwealth Bank down 2.7 pct; NZ slips 0.7 pct Reuters - UK Focus - Wed, Feb 22, 2017 01:27 GMT

    The Australian stock market was steady on Wednesday, with gains dented by slips in Commonwealth Bank of Australia and BHP Billiton (NYSE: BBL - news) . Shares (Berlin: DI6.BE - news) in the country's biggest mortgage lender, Commonwealth Bank of Australia (Other OTC: CBAUF - news) began trading ex-dividend and promptly …

  • Mortgage racket: 'Bank of Scotland made me pay £4k a month instead of £2k'

  • A quarter still in debt when they retire, says Prudential report

    Credit card borrowing and, increasingly, mortgage repayments, were still hanging over people as they prepared to stop working, the report from Prudential (SES: K6S.SI - news) found. The poll, which questioned 1,000 people planning to retire in 2017, found 25% would be in debt, up from 20% in the same poll last year - …

  • Building society Skipton eyes £250m mortgages sale Sky News - Tue, Feb 14, 2017 13:07 GMT
    Building society Skipton eyes £250m mortgages sale

    Britain's fourth-biggest building society has put a £250m portfolio of mortgage loans up for sale, underlining financial institutions' determination to churn their balance sheets more aggressively in a lower-for-longer interest rate environment. Sky News has learnt that Skipton has hired investment bankers at Morgan Stanley …

  • British lender Nationwide's profit drops 16 pct as low rates bite Reuters - UK Focus - Fri, Feb 10, 2017 07:37 GMT

    Britain's Nationwide Building Society said that pretax profit for the first nine months of its financial year fell by 16 percent year on year as increasing competition and low interest rates continued to pressure earnings. Nationwide, Britain's second-biggest mortgage provider, boosted lending to homeowners by 11 percent …

  • House asking price growth slows amid Brexit fears: Rightmove

    The number of home repossessions fell to its lowest level since 1982 last year, figures from the Council of Mortgage Lenders (CML) show. Borrowers were aided by low mortgage rates but the CML - which represents banks, building societies and other lenders - warned that customers need to be ready for a time when they rise. …

  • Home repossessions at lowest level since 1982: CML Sky News - Thu, Feb 9, 2017 11:04 GMT
    House asking price growth slows amid Brexit fears: Rightmove

    The number of home repossessions fell to their lowest level since 1982 last year, figures from the Council of Mortgage Lenders (CML) show. Borrowers were aided by low mortgage rates but the CML - which represents banks, building societies and other lenders - warned that customers needed to be ready for a time when they …

  • Best fixed-rate mortgage rate drops below 0.99pc (again) Telegraph - Wed, Feb 8, 2017 07:03 GMT

    Best fixed-rate mortgage rate drops below 0.99pc (again)

  • Lloyds bows to pressure to review HBOS fraud compensation claims Reuters - UK Focus - Tue, Feb 7, 2017 12:15 GMT

    Lloyds Banking Group is to review the cases of British businesses which lost out in a 245 million pound ($303 million) fraud for which six people were jailed last week. The fraud involved two former bankers of HBOS, once Britain's biggest mortgage lender, which was rescued in a state-engineered takeover by Lloyds in 2008. …

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