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Personal Finance
FeedMortgage lending back on the up
Christina Jordan
Mar 18th 2010
Filed under: Economy, Personal Finance, Mortgages, News
Mortgage lending increased by 6% in February to £9.3bn, according to the Council of Mortgage Lenders.The announcement will quell the fears of those who worried that January's drop in lending marked the start of a 'double dip' for the housing market.
It now looks like the winter weather and Stamp Duty distortion did indeed cause a New Year blip that has now corrected itself.
Vodafone rips off family phone errors
Chris Wheal
Mar 18th 2010
Filed under: Personal Finance, Technology
In just two weeks my teenage son ran up - or rang up - more than £500 of phone calls to his girlfriend from his Vodafone mobile phone. One call, lasting nearly four hours, was more than £70. He has just emptied his building society account and will be on reduced pocket money for months to come.But Vodafone refuses to offer a service putting a cap on calls. It says it can't because its systems are not accurate enough. I say Vodafone is talking with forked tongue. T-mobile offers a pay-monthly package with a cap for parents to offer their kids. Vodafone wants to exploit innocent mistakes to the full.
Time is running out for ISA investors
David Burrows
Mar 18th 2010
Filed under: Investing, Personal Finance, Savings and Accounts
Only 50% of savers in the UK have a cash ISA (individual savings account) and with the tax year ending at midnight on April 5, time is running out for those looking to make use of their 2009/10 allowance.
According to HSBC, in 2010, people across the UK are set to pay £9bn more in tax than they need to by not using their annual tax-free allowances..
Admiral Group charges migrants more
Adrian Holliday
Mar 17th 2010
Filed under: Personal Finance, Insurance, Retail
If you're a migrant you're more likely to be charged more for your car insurance - if you choose Admiral.That's the conclusion of a Which? survey that's rapped the insurance player for piling on premiums - almost a 20% hike in some cases - for drivers who haven't lived in the UK since birth.
Time to deal with personal budget deficit
David Burrows
Mar 17th 2010
Filed under: Debt, Personal Finance
It's not just the Government that can't balance the books: five million Brits spend more than they earn.
As the EU piles pressure on the Government to cut the public deficit, a poll commissioned by comparison site uSwitch.com reveals that consumers too have adopted a 'buy now, pay later' strategy, with 1 in 10 living beyond their means.
Shell axes jobs but not golden goodbyes
Adrian Holliday
Mar 17th 2010
Filed under: Economy, Personal Finance, Energy
In an effort to cut costs Shell is pulling out from many low volume service stations and slashing at least 1,000 jobs. But despite efforts to cut costs amongst its workers, its making sure its directors are still comfy: the oil giant has just admitted it more than doubled the pension pot - to nearly £16m - of its ex gas and power boss, Linda Cook.
Recession teaches kids how to save
Chris Wheal
Mar 16th 2010
Filed under: Economy, Personal Finance, Financial Crisis, Budget 2010
A YouGov poll of young people commissioned by HSBC and the Personal Finance Education Group (pfeg) ahead of next week's Budget says the recession has squeezed kids and they have learnt about saving. More than a third of the children (34%) have heard adults say they cannot buy something because of the recession more than once a week. A quarter have reduced their own spending because of the recession. This is great news. I wish I could say the same for my own kids.
Big leap in new UK mortgage funding
Adrian Holliday
Mar 16th 2010
Filed under: Debt, Personal Finance, Mortgages, Banking
It's raining mortgages out there with a record 70% increase in mortgage products. Moneyfacts says that at the start of April 2009 there were just 1,209 UK products offered – that's now increased by 70% to a total of 2,053.
New rules to help fight credit card debt
David Burrows
Mar 15th 2010
Filed under: Credit Cards, Personal Finance
The government has introduced new rights to save credit card users millions of pounds and give people more control over their finances.
The Department for Business, Innovation and Skills has agreed five new rights for credit card users in an agreement with credit and store card companies represented by the UK Cards Association and the Finance and Leasing Association.
FSA rules risk extinction of mutuals
Adrian Holliday
Mar 15th 2010
Filed under: Economy, Personal Finance, Financial Crisis, Mortgages, Insurance
Could new strict FSA rules be the death of mutuals? Building societies are a dying breed currently thanks to increased market consolidation and low interest rates.However the boss of mutual MGM Advantage says new FSA rules could force many to close or merge. Assurance boss Chris Evans told the Independent that the new rules could "force many mutuals to either consider merging or closing to new business and going into run-off."
FSA to deliver on consumer protection?
Adrian Holliday
Mar 12th 2010
Filed under: Personal Finance, Financial Crisis, Mortgages, Retail, Leisure & hospitality
Consumers will get tougher protection on mortgages, pensions and investment products in the future, according to FSA boss Hector Sants.Sants is leaving his job soon. But he clearly wants to leave the British public better protected against product mis-selling - so some legacy-building is going on.
Free money for families - get what you're entitled to
Money Magpie
Mar 12th 2010
Filed under: Personal Finance, Savings and Accounts, Insurance
There's free money to be had when you have a baby and start to run a family. It's just as well because you need all the bargains, cut-price deals, cheap offers and other financial help with the cost of bringing up children. Here are tips on how to have a great family life on half your salary.The first thing to go for when you're strapped for cash and running a family is to make the most of any benefits available to you.
Budget date fires election starting gun
Helen Fowler
Mar 10th 2010
Filed under: Markets, Personal Finance, Financial Crisis, Budget 2010, News , Taxes
The Budget will take place on March 24, in what is expected to be the opening battle in the general election. Today's confirmation of the Budget date suggests the government is planning on May 6 for the election. The imminent election means this year's Budget is likely to be more of a balancing act than ever. The Labour government is on a rock (the need to prove it is serious about cutting record levels of public borrowing). It is also close to a hard place (the need to woo the electorate and win votes). Neither aim is particularly compatible with the other.
Six of the best for ISA investors
David Burrows
Mar 10th 2010
Filed under: Investing, Personal Finance
Having looked at the pros and cons of cash ISAs, many investors may well decide to instead opt for the potentially better but riskier rewards on offer from equity ISAs.
Nigel Walker head of research with online broker Torquil Clark provides his top six funds for ISA investors in 2010.
How to cut your tax bill - legally
Helen Fowler
Mar 9th 2010
Filed under: Guides And Tools, Investing, Personal Finance, Savings and Accounts, Taxes
It might sound a little calculating, not to mention downright paradoxical. But if you want to save on your tax bill, consider giving money away. As they say, giving is a form of receiving. Nowhere is this more true than in the UK tax system. "Making charitable donations through the gift aid system is very tax efficient for both the charity and individuals who are higher rate tax payers," says Jason Butler of Bloomsbury Financial Planning.
Time is running out for ISA investors
NY and the City clash: London falling
Economy doing worse than suspected?
