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August 23, 2014 - Latest:

Buying instead of renting will save first-time buyers £1,300 a year

23 August 2014

Getting a expensive deposit together to buy your first home could cost you less in the long run as new figures show renting costs £110 more a month than buying. [...]

HSBC plans account upgrade for 1.3m customers

23 August 2014

HSBC is planning to upgrade 1.3 million banking customers to an ‘Advance’ account. From 10 November the high street bank will offer a new Advance bank account with as no [...]

Students targeted in new mobile phone scam

22 August 2014

Thousands of students may have been caught up in a mobile phone scam that is lumbering them with large debts. It is thought a dozen universities have been targeted by [...]

EDF Energy forced to make £3m payment after complaints failings

22 August 2014

The energy regulator has ordered EDF Energy to pay £3 million to help ‘vulnerable customers’ after an investigation found the company was not handling complaints properly. The ruling means all [...]

First-time buyer sales at seven-year high, but you’ll need £26,000 to get on the ladder

22 August 2014

The number of first-time buyers getting a foot on the ladder has risen to a seven-year high but they will have to spend £9,000 more than last year to secure [...]

Divorce costing nearly £44,000 per couple

19 August 2014

UK couples are spending nearly £44,000 on average when they divorce or separate, totalling £5.7 billion per year in total says a new study from life insurer Aviva. The £21,979 [...]

One million working households are ‘housing pinched’

15 August 2014

One million working households are ‘housing pinched’, spending more than half of their income on rent or mortgage payments.   Research from think-tank Resolution Foundation, reveals 1.6 million households in [...]

Unretiring and part-time pensioners: the new face of retirement

15 August 2014

Living longer, saving less and the end of guaranteed workplace pensions has meant more retirees are becoming part-time pensioners.   Research by insurer LV= shows that just over a third, [...]

Parents spending average of £1,704 on childcare over summer holidays

6 August 2014

Parents across the UK are spending an average of £1,704 on childcare over the six week period of the holidays or £71 per day, according to price comparison service uSwitch.com. [...]

Energy consumers warned to switch before five fixed price deals come to an end on August 31st

6 August 2014

On Sunday 31 August five fixed energy deals will expire, at which point consumers who have not shopped around and switched to a better deal will be automatically rolled onto [...]

The big bank backlash has begun! Savers switching to smaller banks

1 August 2014

Britons are shunning the ‘Big Four’ banks and switching to smaller banks, according to new figures from The Payments Council. The council, which operates and oversees the seven-day switching guarantee [...]

Broadband customers ‘held captive’ by poor service and high cancellation fees

1 August 2014

Broadband users suffering with poor service are being punished with sneaky charges for trying to cancel and providers are even passing fees on to debt collectors. Citizens’ Advice Bureau said [...]

Stamp duty and inheritance tax: how your house is costing you more

1 August 2014

Rising house prices are not just pushing up household debt burdens but also the amount of tax due to the exchequer. New figures from estate agent Savills shows the number [...]

Millions of flood-risk properties to be left without home insurance

25 July 2014

Millions of homeowners whose properties are at risk of flooding could find themselves without any cover after being excluded from a new affordable flood insurance scheme.   The government and [...]

500,000 could miss out on compensation over mis-sold card and ID insurance

25 July 2014

Half a million consumers who were duped into buying card or identity protection insurance by Card Protection Plan (CPP) have less than five weeks to make a claim for compensation. [...]

Challenging the dominance of the Big Four banks: expert reaction

18 July 2014

Consumer champions, challenger banks and comparison sites have implored the competition watchdog to bring an end to the monopoly within the current account market tin order to encourage product innovation [...]

Competition watchdog barks at Big Four banks over control of current account market

18 July 2014

The competition watchdog is planning an investigation into UK that should see it challenge the ‘Big Four’ high-street banks which control the majority of the current account market. Initial findings [...]

592,695 current account switches in 2014

16 July 2014

There were 592,695 current account switches in 2014 in the year to the 30th June – a 16% year-on-year increase on the year before says the Payments Council. In addition, [...]

Costly homes and income falls: how the burden of homeownership is growing

11 July 2014

Britain’s fiscal watchdog has warned the gap between house price growth and wage inflation will continue to rise, as fears emerge that the average wage could have fallen 20% more [...]

Are you loyal to your bank? Consumer trust rises but we’re more likely to switch

6 July 2014

Trust in banks may be increasing but customer loyalty to a banking brand is starting to wane. A survey by comparison site uSwitch shows that despite numerous scandals including payment [...]

MPs plan to reduce fraudulent claims could push up cost of car insurance

4 July 2014

Insurers have warned the government’s proposal to ban the settlement of whiplash claims without proper medical examination would drive up the cost of car insurance for motorists. MPs on the [...]

Energy scandal: British Gas to pay out £1 million to compensate for mis-selling

4 July 2014

British Gas has been forced to compensate thousands of customers after mis-selling them energy deals by exaggerating how much they could save if they switched to the country’s largest energy [...]

Londoners savviest with money but less than half of UK review their finances each year

4 July 2014

As home of the nation’s financial centre, and the most expensive place to live in the country, it may come as no surprise that Londoners are the savviest with their [...]

Inflation hitting under 30s hardest due to university tuition fees

17 June 2014

Inflation has fallen for all age groups in the United Kingdom according to Alliance Trust’s monthly study into how price rises affecting different age groups. The survey has found that all [...]

UK disposable income on the rise at around 8% of take home pay

17 June 2014

Britons have seen a three percentage point rise in their disposable income over the last three months. On average, people in the UK now have eight per cent of their [...]

Call for a National Wealth Service and ‘fundamental’ shake-up of pensions

16 June 2014

A nationwide organisation of pension advice outposts and lifetime pensions should be the future of retirement in the UK, according to expert Ros Altmann. Working with insurer MetLife, Altmann has [...]

Co-op Bank asks customers to shape its ethics policy after disastrous year

13 June 2014

Customers of disgraced bank The Co-operative will have a chance to shape the future of the organisation as it rewrites its ethical policies following a near collapse. The Co-operative Bank [...]

Bank warns of ‘sooner than expected’ interest rate rise that will hit ‘vulnerable’ homeowners

13 June 2014

Bank of England governor Mark Carney has warned interest rates could rise ‘sooner than expected’, and the fall out for over-indebted households could be very serious. Speaking at the annual [...]

Britain wakes up to saving! Over half of people now saving enough for old age

11 June 2014

The introduction of pensions auto-enrolment and a tentative pick-up in the economy has pushed UK retirement savings rates to their highest levels in five years. How to build an efficient [...]

Guest blog – John Baird – if finances are tight, here are twenty ways to save money

5 June 2014

Whether you have specific financial goals in mind or you are aiming to reduce your personal debts, there is almost always a good reason to rein in your spending and [...]

Men and women saving same percentage of their salaries

2 June 2014

Despite taking home seven per cent less salary than their male counterparts, women in the UK are putting the same percentage of their income away each year as men, says [...]

A plan for rekindling trust? George Kinder takes his life planning message to consumers. The Mindful Money interview

2 June 2014

George Kinder has been an advocate for a fundamental change in the relationship between financial firms and their customers and clients for many years. He says the financial crisis has [...]

Hargreaves says increase in premium bond limit to £40,000 will attract higher rate taxpayers

28 May 2014

The new higher premium bond investment limit is likely to appeal to better off investors who have already used their maximum Isa limit says Hargreaves Lansdown. From Sunday 1 June 2014 the [...]

Good news! You’ve almost finished paying your tax for the year

23 May 2014

UK taxpayers have nearly finished paying off the taxman this year and actually paid less than last year. Tax Freedom Day, as calculated by the Adam Smith Institute, falls on [...]

Energy switchers could save an average of 26% on bills – the biggest savings since 2010

21 May 2014

UK households could reduce their annual energy bills by an average of 26 per cent – the highest average saving since 2010, by simply switching for the first time says MoneySuperMarket. [...]

Two thirds of Britons now reviewing their electricity and gas bills regularly

20 May 2014

Two thirds of Britons have switched both gas and electricity suppliers according to research by TopCashback. Additionally, the firm says that more than three-quarters (75%) of Brits are considering switching [...]

Holidaymakers going to Kenya told to check travel insurance after terror attack

16 May 2014

Holidaymakers with planned trips to Kenya have been urged to check whether their travel insurance covers cancellation of their trip following terrorist attacks in the area. The Foreign Office has [...]

ONS figures reveal UK divided by pension haves and have-nots

16 May 2014

The latest figures on wealth distribution in the UK highlights the recovery in the economy is not closing the gap between rich and poor and a retirement gap is also [...]

Another energy scandal: E.ON fined £12m for mis-selling to ‘vulnerable’ customers

16 May 2014

Energy giant E.ON has been fined £12 million for mis-selling to hundreds of thousands of ‘vulnerable’ customer, including pensioners. Ofgem, the energy watchdog, has slapped E.ON with the fine after [...]

Three quarters of energy switchers opting for small suppliers as customers spurn Big Six

15 May 2014

Almost three quarters of energy switchers are opting for smaller providers according to comparison website Gocompare.com. Some 71% of people  who switched their energy tariffs over the last two months [...]

As many as two million drivers classing themselves as main driver for insurance purposes when they are not

15 May 2014

As many as two million UK motorists may have classed themselves as the main driver for insurance purposes when they are not, typically to secure lower premiums for their children, [...]

EDF Energy offers fifth best fixed deal on the market with no cancellation charges

25 April 2014

EDF Energy has responded to better deals from smaller rivals by finally offering what Gocompare.com calls a competitive fixed tariff. OVO Energy and First Utility continue to top the tables for [...]

Better off Britons increasingly believe their heirs will use an inheritance for living expenses not for saving

14 April 2014

Better off Britons believe their beneficiaries are increasingly likely to spend their inheritance on paying for the cost of living at the expense of saving a new survey by Close [...]

Millions anticipate their debts will spiral further into the red next year

3 April 2014

While last month’s Budget indicated that things were improving for many, the situation is likely to worsen for the nine million households who believe their debts are going drastically to [...]

As EU bans roaming mobile charges from end of 2015, uSwitch says foreign mobile networks may bring cheaper packages to UK

3 April 2014

The European Parliament has voted to scrap mobile roaming charges across the European Union from December 2015 Ernest Doku, telecoms expert at uSwitch.com, says: ”The death of roaming charges can’t come [...]

EU rule change could shatter debit and credit card system warns UK Cards Association

2 April 2014

The European Parliament is debating proposals that would undermine the structure of the card payments system used by 47 million British consumers, trade body the UK Cards Association has warned. [...]

The six point check list for the end of the tax year

1 April 2014

Hargreaves Lansdown has issued a six point check list for the end of the tax year which we have included below. 1. ISA You can invest up to £11,520 per [...]

Gocompare warns duel fuel tariff customers not to fall back on to higher standard rates as deals come to an end this month

25 March 2014

Comparison site Gocompare has warned most energy duel fuel tariff deals are coming to an end and that customers could see bills rocket if they don’t shop around and fall [...]

SSE finally passes on government levy reduction to customers (with latest best buy tables)

19 March 2014

SSE customers will finally feel the benefit of the government’s levy reductions that were announced almost four months ago. The price cut on the 24th March – the last to [...]

Npower customers will see around £33 cut from bills on 28th February though it’s still £79 higher than last year

26 February 2014

npower customers are finally about to benefit from a 2.5% cut to their bills, following the Government’s levy reductions announced early December last year. The price cut due on the [...]

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