ONS: UK retail sales fall in May

Commission calls for radical change in housing market

A new study by the Future Homes Commission suggests that the way homes are built in the UK is dysfunctional and needs a radical overhaul. The organisation, which was established by the Royal Institute of British Architects, believes that 300,000 extra homes could be built every year without any input from Government funding. Instead, the [...]

UK economy leads Europe

The UK economy emerged from recession yesterday and now leads the way in Europe according to research group Capital Economics. Gross Domestic Product (GDP) grew by one per cent in the third quarter from July to September, the biggest rise for five years, the latest official figures from the Office for National Statistics (ONS) show. [...]

Elderly face difficulties in accessing cash

Elderly and disabled people are at risk of fraud because of the difficulties they face in accessing their cash. Research commissioned by The Payments Council found that many have to give financial information such as card details, Pin numbers and passwords to friends and family as they find technology too difficult to use. The decreasing [...]

Stricter mortgage rules delayed until 2014

The Financial Services Authority (FSA) has confirmed that it will introduce rules designed to prevent irresponsible mortgage lending, but it has put back the date for their introduction from summer 2013 to April 2014. Under the tighter regulations, which follow the FSA’s Mortgage Market Review, lenders will have to carry out a more in-depth assessment [...]

Tesco launches sub-2% mortgage rate

Tesco Bank has launched a record-low mortgage deal, but only for those who can afford a deposit of at least 40 per cent of the value of the property, as well as a £995 fee. The two-year deal offers a rate of just 1.99 per cent and is fixed until the end of 2014. Tesco [...]

Dental insurance could increase patients’ bills

Dental treatment is expensive, prompting many people to take out insurance to ensure they aren’t faced with a large, unexpected bill. However, research carried out by consumer group Which? suggests that this may be a false economy as dental insurance could actually end up costing patients more. The organisation tested dental insurance policies and dental [...]

Younger retirees less focused on leaving an inheritance

Traditionally parents have attached great importance to leaving an inheritance to their children, but attitudes are changing according to a survey by equity release and annuity provider Just Retirement. The survey, of homeowners aged over 55, was designed to gauge consumer attitudes towards housing equity withdrawal. Just Retirement found that younger retirees are more concerned [...]

AA reports fall in cost of car insurance

The cost of car insurance premiums fell in the third quarter according to the AA British Insurance Premium Index, after rising steadily for several years and flattening out in early 2012. The cost of policies purchased directly from an insurance firm fell by 2.9 per cent in the third quarter but was still nearly 6 [...]

Nationwide may bid for RBS branches

There is growing speculation that Nationwide building society may be considering a bid for the 316 branches being sold by RBS group under EU rules. RBS was ordered to sell the branches under the terms of the £45 billion bailout it received from the UK government during the financial crisis. It had planned to sell [...]

Scottish Widows highlights growing gender gap in pensions

Women are saving £766 a year less than men for their retirement according to life, pensions and investment firm Scottish Widows. A new report by the firm suggests that the gender gap in pension savings has increased by 10 per cent in the last 12 months and is now at a record high level. Women [...]