House sales peak in July as energy bills set to rise by 80% in October
House sales peak in July as energy bills set to rise by 80% in October
UK regulator, OFCOM, has hiked the energy cap which means average UK household energy bills are set to rise by up to 80% from 1 October.
The Government has announced that all households in England, Scotland and Wales will receive £400 to help with rising fuel bills this autumn. The payment will appear as a credit on your energy bill. Landlords who include utility bills in houses in multiple occupation will still be eligible for these payments.
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The increased outgoings could also affect how much you will be able borrow to buy your home.
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House sales peak in July HMRC figures show but buyers are cautious
Following the recent Halifax report, official figures show that more homes were sold in the UK in July than in any other month this year, but agents report that buyers are showing more caution.
Due to cost-of-living pressures and lower mortgage advances, buyers are increasingly negotiating for a lower price.
HM Revenue and Customs data showed that 110,970 properties were sold in the UK during the month - the highest since September.
US President Joe Biden is cancelling billions of dollars of federal student loans.
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