According to housing intelligence group, Hometrack, house prices in England and Wales fell at their fastest annual pace since October 2009 last month. According to Hometrack, house prices fell by 0.1% on the month and are 3.7% lower on the year. House prices have now fallen for 10 consecutive months, according to the group. Hometrack [...]
Most Brits don’t get serious about putting money aside into a savings account until they reach age 25, according to a study by National Savings and Investments (NS&I). Research by the savings provider found more than a fifth (22%) of UK consumers don’t start setting aside money until after their 30th birthday, while a further [...]
Paying off the mortgage in full before they reach age 50 is the goal of nearly two thirds of Brits. Research by the Co-operative Bank found 62% of UK consumers aim to be mortgage free by their 50th birthday. Once their mortgage is paid off, the main goal of those surveyed was to take more [...]
As the recession continues through the summer many British holidaymakers are choosing to stay in the UK rather than travel overseas. Research by insurance provider LV= found that Brits choosing UK holidays are planning to save an average £247 per person by ditching their trip abroad. A quarter of the working population will take their [...]
Brits saving cash by staying on the Isle of Blighty for their summer holidays should check whether their home insurance policy covers equipment they take on holiday with them, Age Concern Insurance Services (ACIS) said this week. With the number of home-grown holidays set to increase 20% this year, ACIS warned that many insurers only [...]
Record numbers of holidaymakers are searching for the best deals on travel insurance at price comparison website Confused.com. Travel insurance enquires at the site are up 63% compared to this time last year – a trend Confused.com expects to see continue throughout the summer. Single trip insurance is proving the most popular, with seven in [...]
Brits are splashing their spare cash on having a good time rather than stashing it away in a bank account, a study by National Savings & Investments (NS&I) has discovered. Money saved on cheaper heating and electric bills during the summer months will be spent on socialising and leisure activities, NS&I found. Two in five [...]
Brits are choosing to holiday in the UK rather than travel overseas, the AA said yesterday, citing record traffic to its online route planner in the lead up to last week’s bank holiday weekend. A record four million drivers visited the journey planning website in the week leading up to the bank holiday, an increase [...]
Motorists planning to drive overseas this summer should contact their car insurance provider before setting off, uSwitch.com has warned. Research by the price comparison site found that one in five (22%) drivers believe their car insurance provides the same cover abroad as it does in the UK. A similar number (18%) think that travel insurance [...]
AA insurance has launched a ‘value’ insurance policy aimed at caravan owners looking to cut back on expenses during the recession. Caravan Essentials insurance provides stripped-down cover for caravans worth up to £10,000. It provides essential cover of up to £2 million for public liability, damage, or theft. Extras such as legal expenses or family [...]
Working adults in the UK have ‘higher expectations’ of life than previous generations, causing a decline in saving for pensions. This is the view of Padraig Floyd, editor of Pensions Management magazine. According to Floyd, many consumers now take for granted having ‘a house, two holidays’ and being ‘able to go out for meals regularly’ [...]
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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