UK inflation surges to 4% in January

Wonga planning to offer savings accounts

Wonga, the payday loan company, is planning to increase its range of financial products this year with a move into the online savings market. Wonga’s chief executive Errol Demelin confirmed the firm’s expansion plans at a meeting of the Albion Society, which brought together brands considered to be spearheading innovation in the personal finance market. [...]

M&S confirms in-store bank rumours

Marks and Spencer has confirmed rumours that it is launching a new high street bank in partnership with HSBC. The retailer announced today that it will open 50 in-store bank branches as an extension of its existing M&S Money joint venture with HSBC. M&S bank will offer current accounts, mortgages, and other financial products and [...]

Retirement income lowest for five years

The gap between the value of pensions received by men and women has narrowed, according to a survey by the Prudential. While this looks like good news on the surface, women are only catching up with men because the average male annual pension has fallen in value, rather than because women’s retirement income has increased. [...]

Marks & Spencer bank rumours growing

Rumours are growing that Marks & Spencer is planning to open its own chain of bank branches within its stores. The branches would be likely to keep the same opening hours as the stores, offering banking services at the weekend. The first branch is expected to open next month, at the retailer’s Marble Arch store [...]

House prices unlikely to rise says Halifax

The Halifax expects house prices to be the same at the end of the year as they were at the beginning, with uncertain economic conditions stifling demand. The bank, which is part of the Lloyds Banking Group, reported a 0.1 per cent fall in house prices in May 2012, compared with May 2011. However, compared [...]

Most people wouldn’t give friends more than £5

The majority of people would only lend a friend a maximum of £5 without expecting the money to be repaid. Around two thirds of the 1,811 people surveyed by website MyVoucherCodes.co.uk said they regularly lend money to friends, but only on the understanding that the cash will be returned. Forty-three per cent of those surveyed [...]

Fewer first-time homeowners seeking debt advice

The number of first-time homeowners in their twenties seeking help from the Credit Counselling Service (CCCS) fell to 3,008 in 2011, from 4,489 in 2009. The charity, which assists people in financial difficulty by providing free debt advice, suggests this is due to low interest rates. The Bank of England’s base rate has been at [...]

Guide to whiplash claim culture

Russell Thomson is an injury claims lawyer working at The Injury Lawyers, who explains that while whiplash is a clear and serious issue, the whole subject of whiplash claims has become badly distorted through insurance companies selling customer details for referral fees.   Like Tony Blair and his “Education, Education, Education” speech at the start [...]

Whiplash compensation driven by insurance companies

Russell Thomson explains how insurance companies are driving whiplash compensation claims in a bid to chase referral fees. More from the whiplash claims website: Whiplash Claims.   Whiplash claims, whiplash compensation, whiplash injuries – or Whiplash Cash, Whiplash Epidemic, and “the weakest necks in Britain” as the press often title it; whiplash has not escaped [...]

UK economic growth forecast cut to 0.1%

The British Chamber of Commerce (BCC) has reduced its estimate for growth in the UK’s economy. in its quarterly economic forecast. The BBC has reduced its forecast, from growth of 0.6 per cent in 2012 to just 0.1 per cent. The UK economy contracted by 0.3 per cent in the first quarter and the BCC [...]