SAVVY HOMEOWNERS TURN HOMES INTO HOTELS TO OFFSET RISING COST OF LIVING
Inflation levels jumped to a 5 month high of 2.7% in October (significantly above the 2% inflation target) as the rising cost of living continues to hit UK families. The Office of National Statistics also reported a sharp rise in the Retail Price Index (which includes housing costs) from 2.6% to 3.2%, as mortgage rates continue to rise. Mortgage repayments, last month, soared to a 42 month high, affecting 1.5 million families, on standard variable rate (SVR) mortgages. Energy prices are also on the up, with the UK’s second largest energy group, SSE, raising energy tariffs last month and