If you’re worried about your energy bills, you’ll find little comfort in a report by the Daily Express today which says that gas and electricity wholesale prices have dropped to their lowest level in nearly a decade, sparking calls for suppliers to cut bills by 10 per cent. Prices have averaged at nine-year lows over the first quarter
My parents are lucky. They’re in their 60s, mortgage-free and not bogged down by any personal loans. But if new research is to be believed, they are likely to be one of the last generations to enjoy this financial freedom in retirement. Saga Personal Finance has found that one in eight of the over 50s
Police are being asked to investigate more financial crime against the elderly than ever before, according to an exclusive story in The Times today. In what must be many families’ worst nightmare, the paper found that adult social services received allegations of 21,935 cases of theft and fraud against elderly victims in the 12 months to
Today’s newspapers – and the weekend press for that matter – are dominated by the story that refuses to go away. David Cameron must be wishing he could turn back time after a week defending his personal finances following the publication of the ‘Panama Papers’. The leak of more than 11 million papers documenting the tax
House prices increased more than £20,000 in the year to March to a new record high as annual UK house price inflation returned to double-digit growth for the first time in almost two years, according to the latest Halifax house price index. Buyers chasing a low stock of homes for sale sent prices rising by £21,587
Millions of internet users face costs of up to £60 a year to keep their email address if they switch broadband provider. Others risk losing their account altogether if they switch. This is according to Thisismoney.co.uk which reports that BT is tripling the amount former customers will have to pay to keep their BT email address when
Proof, if proof was needed, earlier this week that property prices in the capital are out of control. Research by Savills estate agents found that house prices in the London commuter belt increase by more than £3,000 for every minute the property is closer to the city by train. What’s that you say? £3,000? Per minute?
Today marks the implementation of the new state pensions system amid fears that millions will lose out. While the self-employed and women who have taken career breaks will be the biggest beneficiaries, many of those in their 20s and 30s will receive less than they would under the old system. In the biggest shake-up to the
If you’re not familiar with the nuances of the insurance industry (and quite frankly, who is?), then the name Flood Re may seem odd. It’s the moniker given to a new government-backed scheme designed to help homeowners in flood-stricken areas reduce their insurance premiums. Launched yesterday, Flood Re is the first of its kind in the
Two days after a huge leak of more than 11 million documents from Mossack Fonseca, a Panamanian law firm, the newspapers are still dominated by the so-called ‘Panama Papers’ and the revelations about international tax avoidance. Now the Prime Minister has become embroiled in the scandal after details emerged of his late father’s offshore investments. According to
The weather has rarely been out of the news over the past few months following devastating flooding across the country. Today there’s a glimmer of hope for homeowners as Flood Re gets underway. Under the terms of this new government-backed scheme, people who live in areas susceptible to flooding should be able to access cheaper home insurance. The
It’s April Fools’ Day but a raft of price hikes due to come into force today are no laughing matter. As workers welcome the introduction of the new mandatory National Living Wage (NLW), a slew of changes to taxes and household charges will mean fewer pounds in people’s pockets. Among the cost increases are water bills, up
New research from Aviva is making headlines this morning after the insurer revealed statistics on so-called ‘crash for cash’ claims. Of its 3,000 motor insurance claims last year, a quarter were in Birmingham, making the city England’s crash for cash capital. The study also showed Leeds, Harrow, parts of London, Bradford, Luton, Coventry and Oldham
A crackdown on the buy-to-let market makes it to the front page of a number of this morning’s newspapers following recommendations published by the Bank of England yesterday. The Bank announced criteria that will make it tougher to secure a loan on a buy-to-let property, including forcing all applicants to pass an affordability test based on
When the government implemented radical new pension freedoms a year ago, it was the most fundamental reform to the system in almost a century. And, like so many eye-catching changes, it was given a political spin. ‘Freedom and choice in pensions’ was how it became known. Sounds good, doesn’t it? It’s hard to argue with
If the thought of work after the long Easter weekend fills you with dread, look away now. A new study suggests that one in five people think they will be working after the age of 70. Willis Towers Watson, a global financial services firm, found that people under the age of 40 were more likely to think
It’s not easy to keep track of household bills. Now new research has revealed that more than a third of people do not know how much it costs to run their home. Householders vastly underestimate the true costs, which are on average £1,505 a month for homeowners and £1,819 a month for tenants. Those surveyed by property
After years in the doldrums, the reinvigorated housing market continues apace. With a stamp duty stampede attributed to rising prices in London, the south east and the east of England, the boom shows no signs of petering out. According to the Office for National Statistics, house prices nationally rose by 7.9 per cent in the year to
It’s officially Spring, bringing it with the prospect of sunshine, longer days and warmer weather. So you could be forgiven for breathing a sigh of relief over falling energy bills. Not so fast. Thousands of homeowners are set for energy bill hikes in the next two weeks, with 29 fixed-rate tariffs due to expire at
In a world where fewer and fewer people use their landlines to make calls, new proposals from the Culture Minister will be welcome news. Under plans unveiled today, Ed Vaizey said that phone companies could be banned from charging for landlines. He accused BT and other telecommunications providers of charging households for landlines that they