Mortgage Mole: Secret Squirrel

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Secret squirrel

Mole was intrigued to learn this week just how secretive the nation’s couples are when it comes to money – particularly because anyone wishing to get onto the property ladder is likely to need two incomes to both raise a deposit and qualify for a mortgage.

According to a study by Prudential, one in 10 over-40s who live with a partner confesses to keeping their own secret stash of savings and investments worth an average of £30,300. One in seven hides debts from their partner, averaging £8,000, while more than one in 10 do not tell their partner how much they earn.

Of those who keep some or all of their earnings secret, 27 per cent do so to retain their independence while 23 per cent hope to preserve their financial security in case of a break-up. However, a generous one in 10 uses their secret earnings to treat their partner.

More money than sense

In other curmudgeonly news, the population spends a terrifying £3.7bn on gifts for people they do not like, another survey revealed.

Research from Quidco.com found that 93 per cent of us will shell out an average of £62.80 a year on gifts for colleagues, bosses or relatives we are not particularly fond of. Chocolates emerged as the most likely ‘grudge gift’, followed by a bottle of wine, bubble bath and a book.

So if you receive one of the above this Christmas, it might be worth considering whether you have offended that person at some point.

Now, which lenders are in your bad books this year?