Back to school

The 1-minute read to get the money news you need with expert adviser commentary.

Save Pret

The government's encouraging workers back into offices to bring some life (and cash) to struggling city centres. The first step? Parents deciding to send their kids to school. Many schools reopen today, and MPs lead the way in returning to parliament after the summer recess.

1 in 4 need BOMAD

This year, an estimated 23% of homebuyers will need help from the “bank of mum and dad”. Last year it was 19%. The figures from Legal & General include help from parents, grandparents, and other family and friends. BOMAD support will be a main driver of the property market’s recovery as mortgage lenders stay cautious about buyers with small deposits.

The 7 year fix

Virgin Money has launched a new 90% mortgage* - but there is a catch. It’s a 7 year fixed deal, with a hefty penalty of 7% of the mortgage balance if you want to sell or remortgage before it ends.

Trust Fund kids

Anyone turning 18 from now could get their hands on £1,000 or more as the first of 4.5 million Child Trust Fund accounts will mature this month. The government scheme started in 2002 and gave vouchers to help kids save for the future. There’s a free tracing service to help teens track down lost trust funds.