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Bacs Bill Tracker reveals 18% growth in household bill “basket” since 2007

| October 6, 2015

Regular household bills are rising relentlessly despite inflation remaining flat, according to figures from Bacs Payment Schemes , the people behind Direct Debit in the UK. A “basket” of the most common household bills paid by Direct Debit – including energy, water, mortgages and rent, council tax, broadband and phone, TV licensing, and household insurances […]

Competitive rates are the deal breaker for consumers moving banks

| September 29, 2015

As competition within the retail banking sector increases with the growth of challenger banks, Equifax research reveals that receiving the best rates is by far the biggest incentive for consumers looking to switch banks. In an online survey conducted by YouGov, 42% of people cited better deals and rates as a reason they would switch […]

Claims that 100,000 parents currently ‘fronting’ their children’s motor insurance

| September 28, 2015

A new report from The Co-operative Insurance claims that around one hundred thousand parents are currently ‘fronting’ motor insurance for their children One in ten of parents of young drivers in the UK currently aged 17-25 have admitted to fronting their son’s and daughter’s motor insurance policy at some point, for an average time of two years. […]

What would a 1% interest rate hike mean for your wallet?

| September 28, 2015

There have been increasing rumblings that we may see interest rates rise before the year is out whilst others are pointing to early 2016, either way it’ll be the first upward move in interest rates since July 2007. The increases are likely to be in small steps of 0.25% every few months but whether you […]

Yorkshire Building Society offers financial planning via video link

| September 25, 2015

Reviewing and planning your financial future with a financial adviser is time well spent if you’re looking to get the most out of your money and to be able to look forward to a comfortable retirement. For many people the biggest obstacle is a lack of time during the working day, so heading into town […]

How to get details of your credit score for free

| September 25, 2015

It’s been well documented that households with a poor credit rating can pay hundreds of pounds more per year for finance and utilities payments than consumers with healthy credit scores. Specialist credit card provider Aqua showed last year that families with a lower credit score typically can only access a month by month broadband contract […]

Investors unaware of savings protection changes as 100 day countdown begins

| September 24, 2015

More than eight in ten people (83 per cent) are unaware that the protection provided for savings by the Financial Services Compensation Scheme (FSCS) will fall by £10,000 to £75,000 on 1 January 2016, according to research from peer-to-peer lender RateSetter. The FSCS, launched in 2011, guarantees the safety of savings kept in banks and […]

Pensioners pay more than £17.5 billion a year in income tax

| September 17, 2015

Pensioners in the UK pay a total of more than £17.5 billion in income tax every year, according to new analysis by Prudential. The insurer’s analysis of the most recently available ONS data on income and tax shows that in the 2012-13 tax year, over-65s paid an average of £3,258 each in tax. Collectively this […]

Blow for Santander 123 customers as current account and credit card fees set to rise

| September 16, 2015

Santander, the stand out performer when it comes to current account switching this week announced an increase in the 123 current account monthly fee from £2 to £5 with effect from January 2016. The cashback returns on utilities payments and in credit interest rates have not been changed, however the increased fee takes some of […]

Impressive new offers from Virgin Money and MBNA as credit card borrowing soars

| September 16, 2015

This week saw further evidence that credit card companies are battling harder than ever to take advantage of what is currently a buoyant credit card market. The surge in competition has ratcheted up a level in recent weeks, further evidenced by two new stand-out credit card offers. Virgin Money launched a table topping limited offer […]