First 95% mortgage launches

The 1-minute read to get all the money news plus expert adviser views.

New mortgage on the block

Yorkshire Building Society has become the first lender to relaunch a 95% mortgage, after the government’s mortgage guarantee scheme was announced on 3rd March. It’s almost a year since lenders first withdrew their mortgage options for buyers with small deposits. The deal will only be available to first-time buyers and can’t be used to buy a new build property or a flat.

Dumbbells defeat chocolate

Hand gel, dumbbells, and loungewear are joining the official consumer price index this month, marking a shift in the UK’s spending habits. The index is used to measure price inflation, so it needs to be representative of what we’re buying. Kicked off the list were white chocolate and staff canteen sandwiches.

Theatres worse off

After spending a year with the curtain down, 95% of theatres are worse off due to the pandemic. The industry body UK Theatre also reported that 16 organisations have lost more than £5 million. Theatres are planning to reopen with half-full audiences on 17th May, and some hope to break even this year.

Trouble on the high street

Greggs will open 100 new shops this year, despite failing to rise. The baker sank to its first loss in 36 years in 2020, but cranked up its delivery and click-and-collect services. Elsewhere on the high street, Thorntons is set to shut its 61 shops and move to online-only, putting 600 jobs at risk.