Furlough ends

Furlough ends

End of furlough

The furlough scheme comes to an end today, leaving an estimated 1 million people in limbo. Experts predict a small rise in unemployment after the support is withdrawn. It cost nearly £70 billion in total and kept many businesses afloat without needing to lay off staff, particularly in hard hit sectors like travel and hospitality.

House price growth eases

House prices are slowing down, with just 0.1% growth between August and September according to Nationwide. It means prices are up 10% from September 2020. The mortgage provider also says Wales and Northern Ireland were the strongest performers, while London lagged behind.

Adviser view: We had expected to see the house prices slow down. In the longer term, we'll be looking to see if this is just a slowdown or a turn towards falling prices. We think this figure is a good barometer for the house market but you need to make sure that you understand what is happening in your local market - all areas are different.

Eviction risk

100,000 renters could be at risk of eviction when £20 Universal Credit cut comes in next week, Crisis warns. The housing charity says 1 in 3 private renters in England rely on benefits. Scotland, Wales and Northern Ireland have extended eviction protections until next year, to give struggling families some breathing space.

Adviser view: If you're struggling to meet your rent, we recommend talking to your landlord before you miss a payment. That way, they're more likely to be sympathetic.

Cost of living grants

The government has announced £500 million in grants to help families struggling with the rising cost of living. Rising energy prices and the end of coronavirus support are making it hard for many to make ends meet. The grants will be available from next month and will run over winter.