Millions of homeowners across the UK have no idea what interest rate they’re paying on their mortgage, according to research by Post Office Mortgages, A poll by the lender found that while 35% of borrowers are currently on a standard variable rate (SVR) mortgage, 28% – around 3 million homeowners – don’t know what rate [...]
Raising a child from birth to age 21 costs more than £201,000, according to research by LV=. This is equivalent to £9,610 a year, or £26 per day. It’s the first time the lifetime cost of child-rearing has exceeded the £200,000 limit, and represents a 43% increase since the survey began in 2004. The biggest [...]
A study by the Chartered Management Institute (CMI) has found that a growing number of managers resigned from their jobs in the past year, citing insecurity and restructuring as the reason for their departure. According to the CMI, resignations grew to 4.7% from 4.5% of the workforce with 225,600 managers quitting their jobs in the [...]
Rising inflation is not deterring consumers from putting money aside into a savings account, according to research by Nationwide. According to the building society, the number of occasional and regular savers is at the highest level for 16 months. Nearly eight in ten (79%) consumers are now regular or occasional savers, according to Nationwide’s Importance [...]
The popularity of current accounts with ethical provider The Co-operative Bank soared in 2009. Current account sales at the bank increased 38%, with the number of customers switching to The Co-operative Bank from other major providers rising 22%. Research by The Co-operative Bank found that 10% of consumers switching current account providers do so because [...]
The Centre for Retail Research (CRR), in a study commissioned by shopping comparison website Kelkoo, found that UK shoppers spent more online than anywhere else in Europe in 2009. The research showed that UK consumers spent £38 billion online last year (the equivalent of €1,240 (£1,070) per shopper) and accounted for almost a third of [...]
Brits have more than doubled the amount they are saving in the past 12 months, according to research published this week. An investigation by Birmingham Midshires found Brits are saving 136% more per quarter compared to this time last year. In the three months to January 2010, the average UK consumer saved £776. This is [...]
If you’re unlucky enough to crash your car twice this winter you could find yourself paying double for car insurance, according to Confused.com. Some insurers researched by the price comparison site more than trebled the cost of insurance premiums after two accidents. Confused.com said drivers should take extra care at the moment because icy winter [...]
The Equality and Human Rights Commission is supporting plans to let the over 65s continue working. Earlier this month, minister for Women and Equality, Harriet Harman, announced a major shake-up in the retirement law which will see workers no longer forced to retire at 65. Miss Harman believes a radical change in the law is [...]
A report by the Chartered Institute of Personnel and Development (CIPD) has revealed that the recession has had more of an impact on jobs than figures suggest. According to the CIPD, 1.3 million people were made redundant during the recession. Last week, the Office for National Statistics (ONS) revealed that UK unemployment fell by 7,000 [...]
Research group Centre for Cities has warned that some UK cities will take years to return to pre-recession levels. The independent think tank said cities such as Stoke-on-Trent, Barnsley, Doncaster, Burnley and Newport will feel the effects of the recession for many years to come as people in these areas are less qualified and there [...]
Many parents are too busy working to spend time with their children, a new survey has found. Research by Scottish Widows found that one in three (34%) of parents want to spend more time with their family. One fifth of parents and grandparents said they are not prioritising their children or grandchildren enough. Busy working [...]
Prisoners who open a bank account before they leave prison are significantly less likely to re-offend, according to a new study. Research by Liverpool John Moores University (JMU) found re-offending rates reduced by 34.8% among short term prisoners with a bank account. Having a bank account allows ex-offenders to quickly find a job and accommodation, [...]
Just 15% of Brits have put aside money to pay for Christmas, according to research published this week. Seven in ten (71%) plan to pay for Christmas using their regular monthly income, while 14% will put their Christmas spending onto a credit card. Nearly five million Brits are still paying off debts from last year’s [...]
Only half of Brits would be interested in finding out the ethical credentials of the next financial product they purchase, new research has discovered. The EIRIS (Experts in Responsible Investment Solutions)-commissioned poll found that just 44% of the British public are curious to know whether or not their money is being invested ethically. Of these, [...]
Homeowners get the itch to move house every seven years, new research has discovered. Co-operative Bank found the main reason people move house is to make room for a growing family. Other popular reasons homeowners cited for moving included wanting to live closer to work, and getting bored of their current home. One in six [...]
A study called “Precious Plastic” by accountancy firm PricewaterhouseCoopers (PwC) has found that while there has been a “cooling passion” for credit cards, bad credit card debts could jump as much as 9% of all outstanding balances by the end of 2010. According to Richard Thompson, a partner at PwC, over the last year, “there [...]
For every property on the market there are five potential buyers looking to snatch it up, new research has discovered. A study by the National Association of Estate Agents (NAEA) found estate agents had an average of 287 prospective buyers on their books in October. The average number of properties available at estate agents was [...]
Consumers seeking to reclaim bank charges or mis-sold PPI are better off making a claim themselves rather than using a claims management company. Research by consumer advice group Which? found claims management companies typically charge a 25% commission plus VAT if successful, and may also charge upfront fees. Which? also discovered that many claims management [...]
Research in two rural Scottish towns has found that social enterprise makes up a significant part of the local economy. A study by the Perth and Kinross Social Economy Partnership (SEP) found that the social economy in the two towns has an annual value of up to £70 million, employs 1,800 people, and engages over [...]
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, [...]
About | Privacy | Disclaimer | Resources | XML Feeds | Press Releases | Directory | Contact us
