The Bank of England has today revealed mortgage approvals fell in September for the first time in six months. According to the Bank, there were 50,967 loans approved in the month – down 3% on August’s figure. However, September’s figure was broadly in line with forecasts and suggests the UK mortgage market will remain subdued [...]
According to the Land Registry, house prices fell by 0.3% in August after a 1.3% rise in July. The latest fall takes the average cost of a home to £162,347 in England and Wales. On an annual basis, meanwhile, the Registry said prices are 2.6% lower. It must be noted that the Land Registry compiles [...]
HM Revenue & Customs (HMRC) has today revealed a fall in the number of homes sold in August in the UK. According to HMRC, 78,000 homes worth at least £40,000 or more were sold in the month – 6,000 less than the previous month and 3,000 lower than in August 2010. However, August is traditionally [...]
HM Revenue & Customs (HMRC) has today revealed a marginal rise in the number of homes sold in June in the UK. According to HMRC, 73,000 homes worth at least £40,000 or more were sold in the month – 5,000 higher than May’s level of 68,000. However, it is 12,000 lower than June 2010’s figure. [...]
HM Revenue & Customs (HMRC) has today revealed a further fall in the number of homes sold in May in the UK. According to HMRC, 68,000 homes worth at least £40,000 or more were sold in the month – 2,000 lower than the revised total of April and 3,000 lower when compared with May 2010. [...]
HM Revenue & Customs (HMRC) has today revealed a fall in the number of homes sold in April in the UK. According to HMRC, 66,000 homes worth at least £40,000 or more were sold in the month – 1,000 less than the previous month and 6,000 lower than in April 2010. Today’s figures, along with [...]
HM Revenue & Customs (HMRC) has today revealed a slight rise in the number of homes sold in February in the UK. According to HMRC, 57,000 homes worth at least £40,000 or more were sold in the month – 4,000 more than January‘s levels. The figures come as the British Bankers’ Association (BBA) revealed a [...]
HM Revenue & Customs (HMRC) has revealed a slump in the number of homes sold in January in the UK. According to HMRC, just 54,000 homes worth at least £40,000 or more were sold in the month – the lowest number since January 2010. The figures are revealed as the British Bankers’ Association (BBA) reported [...]
The British Bankers’ Association (BBA) has today revealed a further fall in the number of new mortgages approved by the major banks in January. According to the BBA, the number of new mortgages approved in the month stood at 28,932 – marginally better than December’s levels but 29% lower compared with January 2010. The figures [...]
HM Revenue & Customs (HMRC) has reported that the number of homes sold in the UK during 2010 was 885,000. While this was a slight improvement on 2009 levels, it was just over half of the peak seen during the housing boom years of 2006 and 2007. The figures are evidence that the housing market [...]
The British Bankers’ Association (BBA) has today revealed a further fall in the number of new mortgages approved by the major banks in December. According to the BBA, the number of new mortgages approved in the month fell to 28,726, down from 29,696 in November – representing the lowest figure since January 2009. Net mortgage [...]
HM Revenue & Customs (HMRC) has revealed a slump in the number of homes sold in November in the UK. According to HMRC, 77,000 homes worth at least £40,000 or more were sold in the month – down from the 80,000 sold in October and 6,000 less than in November last year. The figures are [...]
HM Revenue & Customs (HMRC) has revealed a slump in the number of homes sold in October in the UK. According to HMRC, 79,000 homes worth at least £40,000 or more were sold in the month, a fall of 11% on an annual basis. While it was 1,000 higher from September’s figure, it is evident [...]
Figures published by HM Revenue & Customs (HMRC) revealed the recession had a severe impact on personal pension contributions. According to figures, workers put £1 billion less into their personal pensions last year – the first fall since the mid 1990s and was primarily due to lower employee contributions. Higher unemployment during the period and [...]
HM Revenue & Customs (HMRC) has said the Government is expected to see a rise in income tax revenue this year. Income tax revenue has plummeted over the last two years, one of the reasons is the recession which has hit tax revenues. Tax receipts and corporation tax takings have been lower, as well as [...]
New figures from HM Revenue & Customs (HMRC) show the number of homes sold in the UK falling to 87,000 in November, compared with 90,000 in October. However, last month’s total for properties worth £40,000 and above is the second-highest so far in 2009, and the dip still leaves completed transactions at over twice the [...]
HM Revenue & Customs (HMRC) has confirmed that the bank bonus tax will not apply to staff of non-banking firms such as insurers, assets managers and stockbrokers. There were queries about which organisations would be affected by the 50% tax, which was announced the Pre-Budget Report, but it has been confirmed that it will apply [...]
A report by the National Audit Office (NAO) has revealed that around 1.5 million pensioners have made overpayments in income tax due to processing errors. Furthermore, the NAO revealed that around 3.2 million were neglecting to take up their allowance entitlements. The watchdog also estimated that half a million pensions have underpaid tax, by an [...]
Latest figures from HM Revenue & Customs (HMRC) show a rise in the number of homes sold in the UK during May. Transactions involving properties worth over £40,000 increased by 7% last month to 62,000 and were at their highest since October 2008. However, they remained significantly below levels seen at the height of the [...]
HM Revenue & Customs (HMRC) has embarked on a new campaign in order to get millions of pounds of unpaid tax from offshore bank accounts and has used the 2009 Budget to introduce the new “offshore disclosure opportunity” which will run until March 2010. It is an invitation to people with offshore accounts to disclose [...]
M&S Money launches 3% cash ISA
M&S Money has launched an Advantage Cash ISA paying 3 per cent, and which allows transfers in from other ISAs. It can be opened with a minimum deposit of £100 lump sum followed by minimum monthly deposits of £25. The 3% rate is variable, but there is no short-term bonus so the return won’t plummet [...]
Google suspends UK Compare Mortgages site
Google has closed its UK mortgage comparison site which it launched in July last year, after it proved to be less popular than expected. Mortgage comparison sites are designed to allow visitors to compare mortgages quickly and easily without having to visit each lender’s individual site. Google was competing with several well-established comparison sites, including [...]
AA launches ‘black-box’ policy for young drivers
The AA is launching an innovative car insurance policy called Drivesafe which could help younger drivers save up to £850 a year. Younger drivers already pay substantially higher premiums than other motorists and these costs are increasing. A new study by Confused.com suggests insurance costs for younger driver have gone up by 5.7 per cent [...]
ATOL scheme updated to protect online bookers
ATOL, a financial protection scheme managed by the Civil Aviation Authority, is being extended to protect up to six million more holidays a year. The scheme ensures that holiday makers do not lose out financially if a travel company collapses, and that they are not stranded abroad. An increase in the number of holidays booked [...]
Home repossessions lowest for four years
The number of UK homes repossessed fell to 36,200 in 2011, significantly below the Council of Mortgage Lenders’ forecast of 40,000, and lower than 2010 when 37,100 homes were repossessed. With interest rates remaining low and lenders adopting a sympathetic attitude to customers in financial difficulty, repossessions fell to their lowest level since 2007. However, [...]
Monthly pay lasting just 17 days
Workers are running out of money just 17 days after receiving their monthly pay, according to new research by the Halifax bank. This means that the average UK worker spends half the month worrying about money. The study, based on the responses of more than 2,000 adults, found that 10 per cent of workers start [...]
Women disadvantaged by auto-enrolment changes
Government proposals to increase the auto-enrolment threshold to £10,000 could put 1.8 million women at risk of missing out on a pension, the TUC has warned. Under the auto-enrolment scheme, which will be phased in from October, private sector employers will automatically enrol workers between the age of 22 years and the state pension age, [...]
Emergency household repairs company Homeserve is taking longer than expected to get back on track after its operations were suspended last October. The company expected customer numbers to fall by 5% this year but it has increased this estimate to 8% and announced the loss of 200 jobs. It estimates that renewal revenue in 2013 [...]
Sale rumoured for Yorkshire and Clydesdale banks
There is growing speculation that National Australia Bank (NAB) may sell Yorkshire Bank and Clydesdale Bank after the Australian parent company announced a strategic review of the two banks’ operations. The Australian economy is performing well and NAB reported strong profits for the final quarter of 2011 but with the UK economy at a virtual [...]
More women experiencing debt difficulties
Women in Debt, which offers female-focused debt advice, has warned that the number of UK women facing serious debt has grown significantly over recent years. The organisation believes that more women will need advice on solving debt problems in the future because they are building up an unsustainable level of indebtedness. Women in Debt’s director, [...]
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