Furlough extension?

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

Budget prep

The furlough scheme may be extended past April, as restrictions seem likely to stick around into the summer. Chancellor Rishi Sunak is preparing to deliver his next Budget on 3rd March, when any extension will be announced.

House hunting

Home buyers are travelling hundreds of miles across the country for viewings, according to estate agents. Many appear to be in the market for second homes. The housing market is still open for business in the current lockdown, with viewings allowed and massive demand from buyers trying to complete before 31st March when the stamp duty holiday ends.

Savings slip

In the final 3 months of 2020, low and middle income households saw their savings shrink at the fastest rate for 7 years. It reflects a drop in income for many workers, with those in hard hit sectors like hospitality and retail worst affected. The research, by pension provider Scottish Widows, also shows people are turning more to overdrafts and credit cards.

No vaccine, no holiday

Saga has said all holidaymakers must have a coronavirus vaccine before coming on any of their cruises or holidays in 2021. The over-50s tour operator says trips won’t start until May, to give sunseekers time to get jabbed.