Personal Finance News

One in five looking to retire this year will still have debts

Almost 20 per cent of those planning to retire this year will do so with debts outstanding, averaging £21,800, according to new research from Prudential. The insurer’s ‘Class of’ research into the future plans, finances and aspirations of those planning to retire in the next 12 months is now in its eighth year. This year’s results […]

One third of new personal loans taken out to consolidate debts

The latest research from  Sainsbury’s Bank Loans suggests that up to 212,000 people could take out personal loans worth up to £2.2 billion in the first three months of the year for debt consolidation. The Bank estimates that this figure could be equal to around a third of all personal loans taken out during January, […]

Consumers concerned over unexpected costs this winter

A new survey from HomeServe reveals that millions of UK homeowners are concerned about unexpected costs hitting strained family budgets this winter. More than half (51%) of UK homeowners polled in HomeServe’s “Unexpected Costs of Winter” survey reveal they are concerned by boiler breakdowns, expensive car repairs, or burst pipes – examples of unexpected winter […]

Which? calls for greater transparency from mobile phone providers

New research suggests that many mobile phone customers are paying over the odds by an average of almost £160 per annum because they are on an unsuitable tariff. Consumer group Which? claims that more than 7 out of 10 customers are paying more than they need to for unsuitable tariffs. They either don’t use enough […]

Huge appetite for National Savings Pensioner Bonds

The much anticipated Pensioner bonds from National Savings & Investments (NS&I) were launched last Thursday (16 Jan) but the unprecedented demand  caused the NS&I website to crash. The bonds offer two choices for savers aged 65 plus – a one-year Guaranteed Growth Bond paying 2.8% AER before tax (2.24% net of 20% tax) and a three-year bond paying 4% AER (3.2% after  basic rate tax). […]

Consumers wasting millions by not switching

New research from Gocompare.com has found that nearly half of UK consumers didn’t switch any of the 10 most popular financial products in 2014, including car insurance, home insurance, energy provider, bank account and broadband. Astonishingly it found that 1 in 5 admitted to NEVER having switched their mortgage lender, bank, car insurer, home insurer, broadband provider, […]