N&P launches 3.99pc fixed-rate mortgage

New mortgage approvals reach two year high

Mortgage approvals have reached their highest level since December 2009 according to Bank of England figures. 58,728 home loans were approved in January 2012, a 30 per cent increase from January 2011, following increased activity among first-time buyers. A two-year stamp duty exemption on properties between the value of £125,000 and £250,000 will end in [...]

Regulator receives most complaints about Barclays

The Financial Ombudsman Service (FOS) received more complaints about Barclays than any other single UK bank in the second half of 2011, but Lloyds topped the list of most complained about banking groups. The FOS received a total of 11,524 complaints about Barclays between 1 July and 31 December - 6,975 were about the mis-selling [...]

Taxpayers to make £11bn profit from Northern Rock

The government’s purchase of Northern Rock in February 2008 and its recent sale of the bank to Virgin Money, is expected to result in a net profit of up to £11bn for UK taxpayers. According to UK Financial Investments Ltd (UKFI) which manages the Government’s stakes in banks bailed out by the state during the [...]

House prices soar near Olympics venue

The average value of houses in the 13 postal districts closest to Olympic park in Stratford, east London, has increased by more than £62,739 to £268,884 since July 2005, when the capital was awarded the right to host the 2012 Olympics. A study by Lloyds TSB shows that house prices have risen by 30%, which [...]

House prices stable amid strong buyer interest

House prices remained steady in January and February according to property analysis firm Hometrack, but there was a surge for interest from potential buyers. The firm’s Monthly National Housing Survey found that property values fell across six regions, remained the same in three, and grew by just 0.1 per cent in London, in the first [...]

UK households falling deeper into debt

UK households will find it increasingly difficult to service their debts in the coming years, according to a report by debt charity, Consumer Credit Counselling Service (CCCS). According to the charity’s research, an average of more than 23 per cent of households’ disposable income went towards interest payments on loans at the end of 2011. [...]

Regulator issues pension liberation scheme warning

The Pensions Regulator is highlighting the risks associated with so-called ‘pension liberation’ schemes, which often leave investors substantially out of pocket. Pension holders should resist the temptation to release money from their pension fund before the age of 55 the regulator warns, as Pension Liberation schemes are often scams offered by unauthorised firms. These firms [...]

Online advertising boosts Rightmove

UK property website Rightmove saw traffic to its property portal soar by 22 per cent to 9.3 billion pages in 2011. The site accounted for 84 per cent of the pages viewed on the top four property websites. Over two-thirds of Rightmove’s advertisers took advantage of additional advertising products available to promote their properties, with [...]

OFT to investigate payday loan companies

The Office of Fair Trading (OFT) is to investigate Payday lenders over concern that they may be encouraging people to take out loans without checking that they can afford to repay them. Payday lenders offer short-term loans at very high interest rates and while these can be affordable if they are paid back at the [...]

Pet insurance more important than critical illness cover?

Insurance provider Hastings Direct is advising pet owners to take out the most comprehensive policy they can afford when their pet is under one year old. Dec Fisher, head of ancillaries at Hastings Direct warned that when people buy a new pet, they do not know what health issues they may have to face and [...]