BORROWING HITS A PEAK

FIRST-TIME buyers borrowed a record 3.6 times their income in July to get on the property ladder.

The average figure was up from 3.59 in June and 3.55 a year ago, said trade body UK Finance.

But record low interest rates mean it’s easier for borrowers to keep up their repayments – for now at least.

The average interest on a first time buyer’s mortgage takes up 8.2 per cent of their income, or 17.4 per cent if they’re repaying the capital.

That’s down from 9.3 per cent and 18.1 per cent respectively a year ago.

The average first-time buyer in July was 30 and borrowed £139,000.

Elsewhere, people moving home borrowed £7.1billion in July, down nine per cent on June but up 15 per cent year on year.

Remortgaging jumped 12 per cent compared to June. from JD MOST customers who buy trainers their Sports don’t use them for exercising, boss has admitted. often Peter Cowgill said customers were rather buying them for their “street” look, than for getting fit. on: “A runner will wear a pair of He went a guy trainers for six months. In that time, may who is wearing trainers for fashion have bought six pairs.” for Cowgill said it was not uncommon “nine or fashion-conscious shoppers to buy a pair. 10 pairs a year ” – at around £60 for “athleisure” helped group This trend 41 per cent to nearly £1.4billion in sales leap the overall the six months to July 29, while by a market was broadly flat. Profits surged third to £103million. Sales in their JD and Size? stores in the UK and Ireland have grown 50 per cent during the past three years. PUMPED UP JD’s shoppers buy up to 10 pairs of trainers a year THE founders of trendy fashion label Superdry have launched plans to reward 4500 staff.

The scheme, which runs to September 2020, will see bosses Julian Dunkerton and James Holder put 20 per cent of their share gains into a trust for staff if parent firm Supergroup’s share price tops £18.

Dunkerton and Holder grew the fashion chain from a market stall in Cheltenham, and listed their shares at £5 on the London Stock Exchange in 2010.

Dunkerton, the group’s product and brand director, own 26.7 per cent of Supergroup, and Holder 10.6 per cent.

Each £5 hike in the shares over the £18 level would see them put £30million into the trust, to be shared by staff worldwide.