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The idea of moving home can be very exciting, but in today’s economic climate, it pays to keep an eye on just how much it costs.

According to research^[1][2], the average cost of moving home in the UK can be between £12,000-£14,000, when you factor in the wide range of costs, from Stamp Duty to estate agent fees, conveyancing, surveys and more.

Chances are that you will have seen the news headlines in recent weeks – inflation remains way above the Bank of England’s target rate of 2%, meaning that interest rates are continuing to rise for far longer than originally expected. This is ultimately impacting mortgage rates making the cost of home ownership even more expensive, and that’s on top of contending with the current Cost-of-Living crisis.

No one has been immune to the unwelcome increases in the cost of energy over the past year – with gas price increases of 129.4% and electricity going up by 66.7%, according to the Office of National Statistics¹.

However, there may be some light on the horizon, with forecasts that energy bills are expected to fall by nearly £450 from July as the Government’s Energy Price Guarantee takes effect².

Many of us may not believe that our families would be likely to be liable to pay inheritance tax (IHT) when we die, but a new report highlights that more of us will have to pay the tax before the residue can be passed on to our families¹.

Pensions will rise by 10% this year¹ but the cost of maintaining the state pension is becoming unsustainable for the UK Treasury. For those of us who have maintained our belief in the automatic right to a pension when we reach retirement age, we may have to dial back our expectations.

There are a number of reasons why you may wish to remortgage, however it’s always worthwhile seeking advice to check whether the mortgage you hold is right for your current situation.

Missing just a couple of payments can have pretty serious consequences, but what exactly happens?

A shortfall equivalent to two or more months' repayments means you are officially in arrears.¹

A failure to pay your mortgage will trigger a report by your lender to the major credit bureau and they could lower your credit score, which will make it more challenging to seek credit elsewhere. After your grace period (this is usually one week to fifteen days after the payment due date) a late fee will be added on to the payment you failed to make.

If you have ever been in a position where something you have bought or a service you have experienced was not up to the standard you expected, as a consumer, you have rights. When buying goods and services, you're protected by The Consumer Rights Act 2015. Here are some of the things you are protected against:

Generally in life, if you’re struggling with something, the best thing you can do is talk to someone. The same can also be recommended if you find yourself struggling to pay your mortgage – speak to your lender or your mortgage adviser as soon as you can.

Have you ever lost a purse or wallet, or worse still, had one stolen? It can happen to anyone and is more common than you might expect. In today’s world where many of us don’t carry cash, thieves targeting credit cards, debit cards and mobile phones can cause havoc with your finances in a very short time.

With the Bank of England Base Rate still going up, it looks odd to see mortgage rates coming down when logic dictates that they should be following the Base Rate. Yet as the Bank of England raised interest rates by 0.5% to 4% on the 2^nd of February, a lender had just announced a five-year fixed rate mortgage at 3.95% for five years¹.

If you are thinking of selling your home, there is an important list of ‘to-do’s that should be followed to ensure that you get the right price and the transaction completes at a time that suits you.