The amount donated to charities by UK consumers has dropped 11% in the last year, with fewer people giving smaller donations. Brits gave a total of £9.9 billion to charities in 2008/09, according to figures from the Charities Aid Foundation (CAF) and the National Council for Voluntary Organisations (NCVO). This is £1.3 billion less than [...]
Older savers are being kept in the dark as to how much they will be able to invest tax-free when the ISA limit increases for over-50s next month. Research by Saga found just one in twenty of over-50s know what the new ISA limits will be. More than half of those polled were oblivious to [...]
Nearly half of UK consumers believe that buying property is the best way to invest money. In a study by Scottish Widows, 48% of those polled said investing in property is the best way to maximise returns on hard earned cash. This figure is a significant increase on 12 months ago, when just 28% of [...]
Many UK adults have had their social lives “hit hard” by the credit crunch, moneysupermarket.com claimed this week. Two-thirds (65%) of those polled by the price comparison site said they’re more likely to stay in since the recession started. Eleven percent said they’re holding more house parties such as barbecues and ‘Come Dine With Me’ [...]
The price of renting a home increased 2.2% over the past six months, according to new figures released this week. Buy-to-let advice site Property Hawk said the rise is “good news” for landlords. However, a recent poll by Direct Line found 20% of landlords are worried about their cash flow. A further 29% fear that [...]
Financial advisers are increasingly likely to recommend funds that invest in climate change, according to new research by Pictet Funds. The fund distributor found the number of advisers encourage clients to invest in climate change funds is set to double. Around one in eight (13%) of those polled said they had sold climate change funds [...]
Nearly two thirds of UK consumers are oblivious to how much interest their savings are earning, new research found. Saga Personal Finance discovered 61% of Brits don’t know the interest rate on their savings account. This increased to 68% for savers aged under 50. Almost a quarter (24%) of those polled said they only check [...]
Four in five Brits are putting money aside for a holiday despite the recession, research by Halifax discovered. The poll found 84% of UK adults are maintaining a holiday savings habit, almost double the 44% who said they were saving towards holidays in pre-recession studies. Nearly three quarters (72%) of Brits said they’d funded or [...]
Nearly half of savers over 50 plan to make the most of their increased ISA allowance next month. From 6 October, the maximum ISA allowance for over 50s will increase from £7,200 to £10,200. A poll by Legal & General (L&G) found 44% of ISA investors over 50 plan to use the increased allowance. A [...]
Consumers who have tightened their belts due to the recession should keep up the habit when the economy starts to grow again, uSwitch.com said this week. The price comparison site said people forced to cut costs due to unemployment or a reduced salary should continue being money conscious when the recession is over. “We really [...]
Britain is a long way from being a savings culture, but is gradually moving in the right direction, research by Nationwide has discovered. Nationwide said the results of the survey, which found 18% of Brits are planning to save more in six months time, are “very encouraging”. The building society’s Savings Index showed a two-point [...]
More than one in five students has had their bike stolen, according to new research by M&S Money. The poll by the home insurance provider found 22% of student cyclists have been targeted by bike thieves. Students should register their bike model, make and frame number so it can be identified if stolen, M&S Money [...]
The cost of living for students has increased 5% in the past 12 months to nearly £200 per week, according to research by Halifax. A poll by the financial provider found the average student now spends £193.50 per week during term time on food, accommodation, socialising, alcohol, clothes, and books. The increase, up from £183.80 [...]
Four in five independent financial advisers (IFAs) believe people are not saving enough towards their retirement, a new poll has discovered. Research by AXA Winterthur found 79% of IFAs believe people are not saving enough for retirement. Meanwhile, 21% said their clients do not fully understand the risks and possible rewards of investment. Responding to [...]
The number of burglaries is on the rise as the recession deepens, Halifax warned this week. Home Office figures show a 4% increase in burglaries in the last quarter. Halifax said householders should be careful to secure their homes even on hot summer days. “When it’s warm outside people often leave windows and doors open [...]
The number of credit cards offering rewards to consumers has fallen by 11% in the past 12 months, research by Sainsbury’s Finance has discovered. In 2008, 78% of credit cards on the market offered a rewards scheme. This figure has now dropped to 11%. The rewards on offer have also changed, Sainsbury’s found, with air [...]
Three quarters of Brits have settled for second best in at least one area of their life, research by Abbey Bank Accounts has discovered. Nearly half (47%) of those surveyed blamed the failure to pursue their dreams on money troubles. Around a third (30%) of Brits have forsaken their dream job, settling instead for a [...]
The AA has secured the accolade of Which? magazine’s top breakdown provider for the third year running. Customers polled by the consumer advice magazine gave the AA an average rating of 86% for customer satisfaction, level of service, and whether they would recommend the company to a friend. “Holding on to top position for three [...]
Consumer confidence was nudged up marginally in July by expectations of recovery in the housing market and an end to the recession, Nationwide said this week. Nationwide’s Consumer Confidence Index rose to 60 in July, up from a revised 59 in June. Spending confidence fell for the first time in a year, but British homeowners [...]
Millions of Brits have stashed away unused credit cards as a financial safety net, new research has discovered. A poll by uSwitch.com found 16 million credit card holders with unused cards. These consumers hold an average of 2.3 unused credit cards, and together they could access £200 billion of credit. With unemployment above two million, [...]
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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