Raid your pension to buy a home?

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

Pension raid?

First-time buyers could use pension savings to buy a house, according to government pensions minister Guy Opperman. He’s considering changing the workplace pension scheme, to allow savers to borrow from themselves to put down a deposit on their first home. But pensions experts have warned it could leave people worse off in retirement.

For 2 days only

Coventry has launched 2 new 90% fixed-rate mortgages this morning - but they’re only available until tomorrow night at 8pm. This year, it’s become more common for lenders to drop in and out of the market with options for buyers with smaller deposits.

Asos quadruples profits

Online fashion group Asos has added 3 million new customers in the past year and its pre-tax profits are up 329%. It’s one of the few retailers to have done well out of lockdown, with shoppers buying more everyday items that they’re less likely to return.

Ikea “Buy Back”

Got an unwanted Billy bookcase languishing in a corner somewhere? Ikea wants it. The furniture giant is offering vouchers for up to 50% of the original price, which you can spend in its stores. The “Buy Back” scheme will launch on Black Friday. Ikea plans to resell the second-hand furniture at a discount, and recycle any items that can’t be resold.