Moneyblog

Consider this: 1 per cent of adults own 14 per cent of the nation’s assets. That’s some 488,000 people in ownership of about £11 trillion. At the other end of the financial scale, 15 per cent – 7.3 million people – either own no assets at all, or are in debt. It’s safe to say this throws the UK’s wealth inequality into stark relief. These new figures come courtesy of the Resolution Foundation thinktank which attributes them to a reversal of the spreading of property wealth across Britain in the mid-1990s and mid-2000s. Essentially, the fall in home ownership is fuelling the return of increasing wealth inequality across the country. Conor D’Arcy,

Norfolk is the dating fraud capital of England and Wales, Surrey is the hotspot for investment scams, and mid-Wales suffers cold calling computer cons. That’s according to new analysis by Which?. Using the Freedom of Information Act, Which? collated thousands of fraud reports from Action Fraud, the main reporting body for UK fraud. The data also reveals Dorset as the capital of computer virus, malware and spyware scams, while Northamptonshire is the capital for online shopping and auction fraud reports. Elsewhere, Dyfed-Powys was the capital for computer-repair fraud reports. In this type of scam, a fraudster phones pretending there’s a fault with your computer and then demands a fee for fixing it.

Praise be, there’s some good news on the financial front this morning. Roaming charges for the use of mobile phones while overseas have been abolished as from today. Under the new European Union law (the Roam Like Home legislation), British mobile phone users can now make phone calls, send text messages and use data in other EU countries without incurring a further charge. The new rules mean that Britons will be subject to the same prices they pay at home. However, it still won’t be possible to call local numbers when abroad for no charge. The new regulations apply to calling or texting other British mobile phones. The European Commission said: ‘Each time a

The spate of terrorist attacks in London and Manchester has made many landlords and their insurers nervous about the risks of letting strangers rent houses, flats or even rooms without even closer checks. This is not about getting money upfront, though that can act as a deterrent. No, it is the still thankfully tiny but nevertheless horrific danger that your property will be used as part of a terrorist cell, exposing it to potentially huge damage if an explosive experiment goes wrong, along with the possibility that it will be out of bounds during a police investigation and the neighbourhood’s reputation blackened for years. Until recently, the government was all

This week’s Best Buys, provided by Moneyfacts, are Unsecured Loans – £5,000 over three years.

If you’re looking for a balance transfer credit card deal, don’t be fooled into thinking you’ll save the most money by plumping for the card that comes with the longest interest-free period. Such cards usually charge a fee for switching your debt and can render the deal far less cost effective. The longest interest-free balance transfer period available at the time of writing is 42 months[1], as offered by both the MBNA Platinum 42 Month Balance Transfer Credit Card Visa and nuba Transfer Credit Card MasterCard. But these cards come with transfer fees of 2.79 and 3.29 per cent respectively. On a balance of £4,000, that would cost the cardholder

It is not usually feasible to put the great and good of the financial services industry together in a room and get them to agree on anything. Typically, they squabble like alley cats, arguing about everything on and off the agenda, even  the state of the weather. Occasionally, blows are traded. Yet a few days ago, I witnessed something of a financial miracle taking place in a swanky restaurant (1 Lombard Street) in the heart of the City of London. Fourteen individuals, representing different areas of the pensions industry, actually agreeing on a pensions agenda that the next government should follow. I was taken aback as I chewed furiously away

Not since the days of William Hogarth has Mother’s Ruin featured so prominently in the national consciousness. In the 21st century, gin is seriously big business as evidenced by the slew of pop-up bars and festivals devoted to this elixir of the gods as well as the number of bottles weighing down supermarket shelves. Just this week Sainbury’s launched two new gins aimed at connoisseurs while Lidl continues to sell inordinate amounts of its award-winning tipple. Now the juniper-flavoured favourite has reached another milestone. Figures from HM Revenue & Customs reveal that sales of gin have helped spirits overtake beer for the first time. The Treasury earned an extra £225

This week’s Best Buys, provided by Moneyfacts, are Easy Access Accounts without a bonus.