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Savings of up to £1 million to be protected under new rules

Andrew Hagger | October 10, 2014

Under new rules proposed by the Bank of England people’s savings balances of up to £1 million will be protected in some circumstances. The proposals are designed to cover money temporarily deposited in an account for up to six months and will include the proceeds from the sale of a property. The Financial Services Compensation […]

Only 1 in 10 Over-65s Have Made Provision For Care Costs

Andrew Hagger | October 10, 2014

According to specialist insurer Partnership more than 90 per cent of people over the age of 65 have not made any financial arrangements to help cover future long-term care costs. As well as having no financial plans to pay for care three quarters of people have not discussed the topic with their families. Earlier this […]

Popularity of Fixed Rate Mortgages On The Up

Andrew Hagger | October 10, 2014

Latest figures from the Financial Conduct Authority reveal that almost 9 out of 10 mortgages were taken out on a fixed rate basis in the first three months of 2014. The data showed fixed rate mortgage sales increased by 40 per cent between 2012 and 2013, making up 88 per cent of UK mortgage completions […]

Lloyds to Give iPads to New Mortgage Customers

Andrew Hagger | October 3, 2014 | 0 Comments

Customers of Lloyds Bank, buying a property for the first time or moving home will receive a free iPad when they sign up for a mortgage. The promotion is open to those who successfully apply for a mortgage between 7 October and 27 November. With homeowners reportedly taking up to six weeks to get internet […]

Cameron Commits to £50,000 Higher Rate Tax Limit

Andrew Hagger | October 3, 2014 | 0 Comments

The Conservatives have thrown down the gauntlet to its rivals by announcing that it will raise the 40 per cent tax threshold from £41,900 to £50,000 if they win the 2015 General Election This was the promise made by David Cameron at this week’s Conservative Party Conference, a surprise move viewed by political experts as […]

330,000 Customers to Have Loans Written Off by Wonga

Andrew Hagger | October 3, 2014 | 0 Comments

Wonga has announced that it is to write off more than 330,000 loans which are more than a month in arrears following an investigation by the Financial Conduct Authority (FCA). On top of this around a further 45,000 customers who are up to 29 days in arrears will be asked to repay their debt without […]

Broadband Speeds Struggling to Cope With Peak Demand

Andrew Hagger | September 25, 2014 | 0 Comments

Latest research from comparison site Uswitch.com shows that broadband speeds across the UK are at their fastest at 5am, but slow by more than a fifth by the time the majority of people are using their PC, laptop or tablet at 9pm. The range between best and worst speed varies in different parts of the […]

One in Three People Dip Into Savings Every Month To Make Ends Meet

Andrew Hagger | September 25, 2014 | 0 Comments

Dwindling levels of disposable income has led to almost a third of people in the UK having to raid their savings each month to help pay for household essential, according to the Scottish Friendly ‘Disposable Income Index’. It claims that more than nine million people regularly dip into their savings each month to the tune […]

Mortgage Customers Urged to Review Finances Now Before Rates Increase

Andrew Hagger | September 25, 2014 | 0 Comments

A Building Societies Association survey revealed that one in four mortgage customers claim they will struggle to cope financially if rates increase. The research in conjunction with Money Advice Trust said that 40% will have to cut back on holidays and meals out to cope with the additional monthly cost. More worrying was the claim […]

Are You Paying Too Much For Your Car Insurance?

Andrew Hagger | September 25, 2014 | 0 Comments

Premiums for car insurance are too high, the competition watchdog has said. The competition commission’s investigation of the £11bn motor insurance market found it was not working well for motorists . Too many drivers were footing the bill for unnecessary costs that were needed during the claims process for accidents and that this is adding […]