Personal Finance News

3 Nov

Over a third of the UK won’t discuss money with friends

New research by ALA Insurance has revealed that over a third of the UK don’t feel comfortable discussing their finances with friends. The survey which was commissioned to explore the state of the UK’s financial wellbeing also shows that this figure increased in older age groups with half of those aged 65 and over claiming they wouldn’t feel comfortable […]

26 Oct

Personal loan rates double since December 2021

Over the past two years, high inflation has squeezed household finances, driving demand for credit as people look to plug the gap. This has meant the UK personal loan market has grown by 8% in the past year, and is estimated to be worth £37.7bn — and projected to reach £43.9bn by 2027§. However, while […]

25 Oct

Half of single people would consider purchasing a property with friends to get on the ladder

Non-homeowners with a ‘single’ relationship status are looking at innovative ways to get on the property ladder, with 49% considering buying a property with family or friends to offset costs. People who are not in a relationship are looking at viable alternatives to get on the ladder, as nearly two thirds (64%) agreed that purchasing a property by themselves […]

23 Oct

Four ways to improve your chances of getting a mortgage

The decision to purchase a home is a significant one – probably the largest one you’ll ever make in your life. If you don’t have the cash available to buy the property outright, like most people, you’ll need to secure a mortgage. While a mortgage is never guaranteed, there are some measures you can take […]

23 Oct

Will-writing charity reveals shocking number of adults do not have a Will

A shocking 59% of UK adults do not have paperwork in place to protect their loved ones after they are gone, a national Will-writing charity has revealed. A poll, commissioned by Will Aid and involving around 2,200 people across the country, showed that only 29% had an up-to-date Will – with the majority admitting they […]

13 Oct

DWP Winter Fuel Payments Update – Could You Be Eligible For £600 Next Month?

With the ongoing cost of living crisis, households are paying more for energy bills in winter 2023 than the previous year, despite the energy price cap expected to fall this month. The average annual energy bill is estimated at £1,923 this year- £134 higher than the average bill last year. According to GOV.UK, around 12.4 million people in […]

9 Oct

A quarter of parents are paying for kids’ birthday parties using a credit card

New research from Go.Compare money has revealed that a quarter of parents (26%) who host a birthday party for their child will be covering their costs on a credit card, and over a third (36%) have said they’ll be using their savings to pay for the celebrations. The research, which surveyed over 500 parents with children aged […]

3 Oct

Balance transfer offers slashed, but savings can still be made

With 52% of customers paying credit card interest each month, TotallyMoney highlights how much money people can save with a balance transfer, even if they have a poor credit score: The market-leading balance transfer product could help excellent credit score customers reduce payments by £1,285 and stop paying interest until February 2026* Those with a good credit […]

29 Sep

Starling Bank urges other banks to up their game as it increases its current account credit interest rate to 3.25%

Starling Bank has announced that from 1st October, it will increase its in-credit current account interest rate to 3.25%. The new rate is payable on balances up to £5,000 for sole accounts and £10,000 for joint accounts. John Mountain, interim CEO of Starling Bank said: “Most banks with competitive interest rates require customers to move […]