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New Improved Pension Rules For Over 55’s From April 2015

| October 17, 2014

The government has said it will simplify pension rules so that over-55s will be able to draw tax-free sums from their pension when it suits them. Under the existing rules, from the age of 55 people can take a 25% tax-free lump sum, but from April, you will no longer have to draw the whole […]

Consumers Choose Different Ways to Finance Christmas

| October 17, 2014

With just over 10 weeks to go until Christmas, new research shows how consumers are planning to finance their festive costs. A report from VoucherCodes claims that around a third of people have been worrying about the cost of Christmas since late summer, while one in five say that Christmas debt will be their biggest […]

Lowest UK Inflation Rate Since 2009

| October 16, 2014

UK inflation has dropped sharply to its lowest level in five years. The figures were much better than experts had predicted as the impact of falling petrol prices helped the CPI measure nudge closer towards the 1 per cent mark. The latest official statistics showed that Consumer Prices Index inflation tumbled from 1.5 per cent […]

Families Fall Out About Switching on the Heating

| October 10, 2014

New research from Moneysupermarket claims that a third of Brits argue with the people they live with about when’s the right time to turn the heating on. The findings also reveal that one in four people secretly turn the heating up without telling their partner or housemates. The reason for the in-home heating arguments comes […]

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

| 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

| 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

| 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

| 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

| 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

| 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 […]