Weekend press highlights: 19 June 2023
The impact of rising borrowing costs on homeowners was explored across the weekend's money sections, writes Headlinemoney's Claire Beard. Elsewhere, there were stories on stealth tax rises ensnaring both pensioners and students, fears over the cost of sunscreen and a look at whether there are savings to be made by growing your own fruit and veg.
Financial Times
Hunt rules out direct support for households as mortgage rates soar
The Chancellor will instead work with banks to help under-pressure borrowers, say his allies.
A warning for the smug mortgage bores
Interest rate pain will come to us all in time — and it could well cost the Tories the next election, writes Claer Barrett.
Daily Telegraph & Sunday Telegraph
Three big drawbacks of saving into a pension
Esther Shaw explores if pensions are the best way to fund retirement.
The inheritance tax loophole changing the face of rural Britain
Farmers are struggling to secure commercially viable plots as lands prices soar, writes Charlotte Gifford
The Guardian
Holiday spending: what to sort out now to keep costs down
Accessing money abroad can rack up a number of unexpected bills. Miles Brignall and Rupert Jones explain the pre-holiday admin that will help keep costs down.
Dermatologists fear cost deterring UK families from buying sunscreen
Leading dermatologists fear deprived families could shun sunscreen due to its cost, writes Sarah Marsh, as some experts call for a voucher scheme giving children and those in need free access.
The Times & Sunday Times
The interest-only mortgage shock
The monthly payments of wealthy homeowners with interest-only mortgages are set to more than double as rates continue to rise, warns George Nixon.
Could an allotment cut the cost of your weekly food shop?
If you get it right, growing your own fruit and veg can save you hundreds of pounds a year, explains Lily Russell-Jones.
The Observer
How to get started with investing
From paying off larger debts to making small but regular investments, Sandra Haurant explains the way forward.
Owners of the most polluting cars to pay double for parking across England
Lambeth council in London is latest to introduce emissions-based fees, with similar charges expected to be widely introduced, reports Jon Ungoed-Thomas.
Mail on Sunday
Stealth tax snares army of pensioners: Freeze on thresholds drags hundreds of thousands of elderly savers into the clutches of HMRC
The number of pensioners who have been forced into the income tax net is set to hit a record 8.5 million next year due to a controversial stealth raid by Chancellor Jeremy Hunt, writes Patrick Tooher.
Taxpayers who complete self-assessment returns warned they face hefty hike in charges if they fail to pay what is owed by end of July deadline
Taxpayers who complete self-assessment returns are being warned they face a hefty hike in charges if they fail to pay what is owed by the end of July deadline, writes Toby Walne.
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Student loan: Average graduate repayments jump £914 per year due to ‘stealth tax rise’
The student loan threshold for those who went to university from 2012 onwards was frozen last year, reports Callum Mason.
Inflation expected to fall this week – here’s what that means for you and your money
Economists have predicted that inflation will slow to 8.4 per cent. Grace Gausden explains how this can affect readers' pensions, mortgages, savings and weekly shop.
The Sun
House That: Renters could be owed thousand of pounds compensation over social housing issues – how to claim
Renters in social housing could be entitled to thousands of pounds in compensation over issues like leaks and broken lifts - but many are not aware of their rights, explains Olivia Marshall.
Hot Damn: Hot weather shower mistake that could be adding up to £127 to bills – how to avoid it
Sam Walker covers a simple shower switch up which could save readers £127 on their bills and thousands of litres of water every year.
The Mirror
Eight in ten first-time buyers say owning their own home is now more important than ever
A quarter of aspiring homeowners are hopeful they will be able to buy in the next 12 months as they have saved more towards a deposit than anticipated, reports Sarah Lumley.
Everything you need to know about PIP assessment - including how long decision takes
Ruby Flanagan explains what readers should expect from a PIP assessment, how to prepare for it, and how long they should expect to wait for a decision.
The Express
Tax burden rockets to new high with Britons set to work half the year for HMRC
Harvey Jones reports on Tax Freedom Day, the first day of the year when Britons start working for themselves rather than HMRC.
Mortgage crunch and house price crash horror looms as inflation sticks at 8.5% in May
The latest consumer price inflation figure will be published on Wednesday and it heralds disaster for the mortgage market as it will be almost as high as April's shock figure.