Finance News

According to new research commissioned by Baring Asset Management, 44 percent of respondents do not currently expect to fund their retirement with a pension.  The international investment management firm has pointed out that this is equivalent to 15.7 million UK adults whom have not yet retired.

According to Moneysupermarket.com, their webpoll has revealed that 60 percent of respondents are not in favour of another base rate cut.  The webpoll – which asked ‘Do you think a base rate cut from the Bank of England is a good idea?’ – was conducted following the International Monetary Fund’s recommendation that the Bank of England should consider a further reduction.

According to the Bank of England, there was a £1.8 billion increase in total lending to individuals in January of this year.  In comparison, the average for the previous six months reportedly stood at £1.1 billion.

The National Association of Estate Agents (NAEA) is currently reminding first time buyers that the Government’s holiday on Stamp Duty Land Tax will cease on Saturday 24th March.  After this date, first time buyers will have to pay tax of 1 percent on property purchases between £125,000 and £250,000, and 3 percent on purchases in excess of £250,000.

According to Halifax, in the second half of last year, mortgage payments for new borrowers (as a proportion of their disposable earnings) were the lowest they have been for 14 years.  In quarter four, a new borrower’s typical mortgage payment – at the long-term average loan to value ratio – was reportedly 27 percent of their disposable earnings.  In contrast, it has been revealed that the average over the past 27 years stands at 37 percent.  Over the past year, findings have shown a ‘modest’ decrease in payments relative to earnings, from 29 percent in the fourth quarter of 2010.

According to moneysupermarket.com, the Bank of England’s recent announcement that inflation reached 4.5 percent in April has added extra pressure to the many UK households that have been struggling with the increasing cost of living.

According to the Finance & Leasing Association, consumers spent 17 percent more on instalment credit during the lead up to Christmas compared to the same period a year before.

The final consumer credit report of 2008 revealed that confidence dropped from 51 to 47 points during the month of December.

According to the Building Societies Association, net mortgage lending by building societies was in excess of £422 million in November 2008.

Last May a service called AutoCheck launched by Experian, was introduced to help make the used car market a safer environment for consumers.

With new figures from the British Bankers' Association (BBA) showing that £18.2 billion was lent for mortgage purposes in May, many people may choose to take out a competitively priced home owner loan to assist with their property improvements or other financial needs.

New figures from the Council of Mortgage Lenders (CML) discovered that lending for property purchases in May reached a high of £28.7 billion.

An increasing number of homes in London are being repossessed, according to new figures reported by the Evening Standard.

According to a recent survey by Callcredit, hundreds of thousands of graduates and students are at risk of overstretching their personal finances due to the government refusing to share details about student loan accounts.

There is still a huge gap between the richest and poorest UK citizens, new figures have shown.

Many first-time buyers are struggling under the weight of stamp duty, it has been revealed.

House price inflation declined to 3.6 per cent from 4.3 per cent in February, according to new figures from the Office of the Deputy Prime Minister (ODPM).

Two-thirds of British consumers are chucking away £1.25 billion a year in ISA tax breaks, according to research from First Direct.

Home credit customers have been overcharged for their loans by around £100 million in the last five years.

Mortgage lending to Britons soared last month, according to new figures from the Council of Mortgage Lenders (CML).

Despite twentysomethings being commonly perceived as irresponsible with money, they are generally sensible with their borrowing, according to a new report.

Britons missing out on interest-free savings gave the Treasury an extra £3.56 billion last year, it has been revealed.

Mortgage approvals increased by over a quarter in February, statistics from the British Bankers' Association (BBA) have shown.

Britons now spend £1.6 billion a year on birthday celebrations, it has been found.

British house prices are growing at their highest rate since 2004, it has been claimed.