Christine Reid punched the air when she heard Britain plans to tear up the limits on what people can do with their pension savings. Instead of relying on a “paltry” income, she can now invest in property.
U.K. house prices rose to the highest in almost two years in May and may keep climbing because of the lack of properties for sale, Nationwide Building Society said.
U.K. Chancellor of the Exchequer George Osborne is taking a leaf from the U.S. playbook in expanding government help to homebuyers to stoke the country’s sagging recovery.
U.K. banks approved fewer mortgages than economists forecast in June as tighter lending conditions and weaker confidence curbed housing demand.