The Met Office has issued a yellow weather warning for wind as Storm Gerrit sweeps over the UK.
07.12.2023 - 13:57 / manchestereveningnews.co.uk
A three-year warning has been issued to millions of homeowners as mortgage costs are expected to rise once again. Almost five million UK households are set to see their mortgage repayments jump by hundreds of pounds over the next three years, the Bank of England has said.
It comes as around half of mortgage holders have moved to a new fixed-rate deal since interest rates started rising in late 2021, and they are now due to face higher borrowing costs of up to £500 by the end of 2026.
The Bank's Financial Policy Committee (FPC) says rising interest rates have 'heightened risks' in the global financial markets. The FPC also found British banks are strong enough to support households and businesses, even if economic conditions get worse.
READ MORE: Man forced to demolish 'monster mansion' after three-year neighbour row
READ MORE: The 'ordinary' terraced house turned 'oasis' that won House of the Year 2023
Bank of England policymakers have increased interest rates steadily for nearly two years, with rates currently standing at 5.25 percent. A typical mortgage holder coming off a fixed rate between the second quarter of 2023 and the end of 2026 is projected to face a £240 increase in their monthly repayments.
But around 500,000 households could experience a monthly increase of more than £500 by the end of 2024. Higher borrowing costs have led to arrears increasing slightly, and more people could fall behind on their payments in the coming years, the FPC said.
The latest analysis also showed that the proportion of households’ incomes spent on mortgage payments is set to rise to 9 percent by the end of 2026, from 6.8 percent earlier this year.
However, the UK banking system is well capitalised, has high levels of
The Met Office has issued a yellow weather warning for wind as Storm Gerrit sweeps over the UK.
It is that time when one year is fizzling out and another beckons, we hope with promise.
Prince Harry and Meghan Markle's hopes of a Christmas reunion in the UK have been dashed due to fresh drama. Fans were hoping that 2023 might be the year the couple would patch things up with the rest of the Royal Family and spend Christmas at Sandringham. In recent months, there have been whispers from sources close to Harry and Meghan suggesting they were keen on spending the festive season with their extended family in Britain.
Great British Bake Off host Alison Hammond is a self-professed huge fan of Christmas. And Alison, 48, is now looking forward to enjoying the festive season after having quite the year. She joined the presenting team of the Channel 4 show, as well as presenting the BAFTAs, and continuing her hosting duties on This Morning.
A public health chief who lost her mum to a devastating condition just two months after she was diagnosed has shared what she wants every family to know about the illness.
The latest figures from the Department for Work and Pensions (DWP) show there are now 12.6 million people across Great Britain receiving State Pension payments, including 1.1 million living abroad and 992,052 in Scotland. Of that overall total, some 9.7 million people are receiving Basic State Pension payments of up to £156.20 each week, while 2.9 million are on - or due to claim - the New State Pension, which is worth up to £203.85 each week.
A health warning has been issued amid a 'concerning rise' in cases of Shigella, a gut infection that is 'very infectious'.
NME about how 2023 was the “worst year for venue closures” – calling upon the upper echelons of the industry to contribute and for the government to introduce a mandatory ticket live on arena and stadium gigs.Earlier this year, it was revealed that the UK was set to lose 10 per cent of its grassroots music venues in 2023. An MVT report from January warned that grassroots gig spaces in the UK were “going over a cliff” – shutting off the pipeline of future talent without urgent government action and investment from new large arenas.The latest stats from the MVT show that this year saw 125 grassroots venues shut down in 2023 – causing a loss of 4,000 jobs, with 14,500 events no longer possible and 193,230 opportunities lost to musicians.One of the more high-profile gig spaces to shut its doors was Bath Moles.
The Duke and Duchess of Sussex weren’t shy about making headlines in 2023 as they continued to map out a life in California. Meghan Markle, an American actress who starred in the legal drama "Suits," became the Duchess of Sussex when she married Britain’s Prince Harry in 2018.The prince, 39, is the younger son of King Charles III. In 2020, the Duke and Duchess of Sussex stepped back as senior royals and moved to California.
Taylor Swift’s ongoing tour of the same name.The word was named by the website as its inaugural Vibe of 2023 yesterday (December 18), with the organisers crediting it for its evolution across the year, as well as its surge in popularity across the world in recent months.“Vibe was one of Dictionary.com’s top lookups of the year, which led us to consider what word could best represent 2023’s overall culture vibe,” said Grant Barrett, head of lexicography at the website (via Billboard).“Like vibe, the word era has been undergoing a similarly slangy evolution, referring to our moods, aesthetics, and life stages—and in 2023, we saw a real surge in this use of eras across popular culture.”The term, which was originally derived from Latin and has been used commonly in the English language since the 17th century, is formally defined as the “periods of time in a person’s life characterised by something distinctive and noticeable, such as a particular emotional state, relationship, achievement, or interest”.Its usage also grew substantially throughout 2023, namely due to its use on social media platforms and newer slang meaning to refer to either an artist’s album cycle or a stage in someone’s personal life.However, one of the main factors driving the word into popularity over the past 12 months will no doubt be in relation to the monumental live shows by Taylor Swift, titled the ‘Eras Tour’.Since kicking off with the US leg back in March, now-billionaire Swift has broken numerous records with her live shows this year, and the ‘Eras’ tour is projected to raise a total of $5.7billion – enough to send every person in the United States $20.Showing how widespread the impact of the tour is, software company QuestionPro calculated that
NHS dentistry is at its "at its most perilous point in its 75-year history" and needs urgent reforms, a think tank has warned. A report by The Nuffield Trust has highlighted issues such as lack of funding, the pandemic, and growing inequalities in oral health.
New figures published by the UK Government show that at the end of March, the number of people making voluntary National Insurance (NI) contributions to top-up missing or incomplete years on their State Pension surged by 85 per cent over the 2022/23 financial year.
Christmas is a time for family – and forgiveness – and that appears to have struck a chord with the Duke of Sussex who, we can reveal, has been hoping for a royal reunion this festive period. It’s no secret that relations between Prince Harry and the royal family have been strained in recent times.
A Strictly Come Dancing judge might be saying goodbye to the show next year. Anton Du Beke, the newest addition to the judging panel, could be leaving the BBC show in 2024 according to bookies' predictions. Ladbrokes has revealed that Anton is just 4/1 to be replaced on next year's series, reports The Mirror.The 57 year old joined the show as a new judge after Bruno Tonioli left in 2021 to focus on the US series Dancing with the Stars.
A Strictly Come Dancing judge is said to be in danger of getting the boot from the series next year.
Sir Kenny Dalglish has spoken of his joy after it was revealed he is to receive a lifetime achievement gong at BBC's Sports Personality of the Year awards.
It’s not long until Christmas Day, which means that New Year’s Eve is just around the corner. Many of us will be thinking about how to say goodbye to 2023 and say hello to 2024.
A First Dates star who spent almost two years with teeth issues splashed out on a heavy £80k to fix them.
The British royal family is known across the world, and people love to follow their lavish lifestyles. They live in palaces, wear royal jewels and do so much in the public eye. But how much money does one make as a royal?
The rate of a two-year fixed mortgage has now dipped below the six percent mark for the first time in almost six months. Across all deposit sizes, the average two-year fixed-rate deal that homeowners can now get was 5.99 percent on Friday (Dec 8), according to Moneyfactscompare.co.uk.