The Council of Mortgage Lenders (CML) has today reported a further fall in repossessions – the fourth consecutive quarter in which they have fallen. According to the Council, lenders seized 8,900 properties in the July to September period – representing a fall of 5% compared with the second quarter. Experts argued, though, that many homeowners [...]
According to housing charity, Shelter, there has been an increase in the number of mortgage holders who are struggling to meet their monthly repayments. A survey carried out by YouGov shows that three million people are struggling each month with their mortgage repayments – a staggering increase of 80% compared with a year ago. Worryingly, [...]
A survey of 2,000 households, conducted by market researchers Markit and YouGov, has revealed confidence has been knocked and households are under pressure financially. The reason for the fall in confidence comes as households are fearful of losing their jobs as the coalition Government embarks on massive spending cuts and tax hikes. Approximately 600,000 public [...]
A survey by YouGov, which was undertaken by children’s charity Barnardo’s, has revealed 58% of UK adults have not yet made a Will. The poll of 2,221 of adults found that nearly all those questioned believed it was sensible to make a Will but a third said they “never got round to it”. Many of [...]
Young people are risking their financial future by opening multiple current accouts to maximise their access to overdraft facilities, according to a new report. Research by YouGov, on behalf of Callcredit, found that nearly one in ten (9%) 18 to 24 year olds have three or more current accounts in their name with an overdraft [...]
More than a quarter of UK investors think financial advisers should be legally obliged to inform clients about green and ethical investment options. In a YouGov poll of investors, over a quarter of respondents said the government should introduce rules requiring financial advisers to ask investors if they are interested in green and ethical funds. [...]
Nearly half of all middle-class mortgage borrowers could be anxious about meeting their repayments during the year ahead. A YouGov poll commissioned for the Conservative party has found that 44% of the country’s wealthier homeowners are harbouring fears of repossession. In addition, 42% of middle-class professionals questioned were worried that they may not be able [...]
Research from life insurer, Scottish Widows, has discovered that one in three Britons is unable to save for their retirement. The survey, which monitors the retirement provision of people aged 30 and over, highlights the fact that many people are worried about how they will manage financially when they retire. The survey, which was carried [...]
Over a quarter of consumers are looking to save money by cutting back on their insurance policies following the credit crunch. As a result, the insurance industry is facing a £1.5 billion according to a survey by business analysts, Deloitte. The survey, which was carried out last month by YouGov on 2286 adults, established that [...]
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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