Archive for the ‘Finance news’ Category
CBI wants the ‘green’ light for energy-efficient driving tests
Friday, March 12th, 2010According to a new CBI report, containing ‘recommendations to pave the way for the development of low-carbon cars and homes’, transport emissions could be reduced and motorists could save money by making energy-efficient driving a compulsory part of the driving test.In fact, it has been revealed that fuel savings of 5 to 10 percent would be possible, which reportedly equates to an annual sum between £200 and £250.
CBI Director of Business Environment, Dr Neil Bentley, commented: “More than a quarter of the UK’s greenhouse gases come from personal transport, half of which are from cars. Making small changes to the way we all drive will reduce carbon emissions and could save motorists up to £250 a year.
“Simply changing gears more smoothly to avoid sharp breaking and acceleration can reduce fuel consumption by a third. Learner drivers already have to demonstrate they can drive in a fuel-efficient way during the course of their driving test, but this is not a pass or fail element.
“Making energy-efficient driving techniques a mandatory part of the test will make a significant contribution to changing the next generation of motorists’ behavior, and to cutting transport emissions.”
“The Government needs to take action now to incentivise consumers to make energy efficient choices and ensure it provides the right framework to spur on businesses to develop exciting new products and services.”
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Homeowners who would like to enhance the energy-efficiency of their property could consider taking out a secured loan for home improvements. One of many finance options available, a secured loan for this purpose could fund thorough insulation for example. Furthermore, borrowers may wish to utilise the funds to replace any draughty doors and windows, or even an ineffective boiler. Solar panels could also be invested in to make the most of the sun’s natural resources. Measures such as these could potentially leave homeowners with lower long-term energy bills.
Average property price in England and Wales stands at £165,088
Thursday, March 11th, 2010According to the Land Registry’s House Price Index, the January data shows a 5.2 percent change in property prices on an annual basis. This reportedly marks the second consecutive month of positive figures, and has taken the average house price in England and Wales to £165,088. A rise of 2.1 percent was recorded between December and January.
Findings have shown that average property prices in seven regions of England and Wales have increased during the last 12 months, with London experiencing the greatest rise at 10.5 percent. In contrast, the most significant annual price decrease was found in the North East at minus 3.4 percent.
In monthly terms, it was revealed that the greatest house price rise was in London at 3.9 percent, whereas the North East experienced the greatest price fall at minus 1.3 percent.
With regard to completed house sales in England and Wales, findings show a 54 percent rise in November 2009, which took the number from 36,091 in November 2008 to 55,715.
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Homeowners who have recently moved into a new property, but do not have the funds required to put their personal stamp on it, could consider taking out a secured loan to fund any desired projects. One of many finance options available, a secured loan for home improvements could allow borrowers to completely re-decorate and re-furbish their new home to suit their personal tastes and lifestyles. Furthermore, borrowers who enjoy spending time outdoors could even consider having their new garden landscaped if necessary, in preparation for the forthcoming summer months.
No stroke of luck for many sick or injured pets
Wednesday, March 10th, 2010According to new research from Sainsbury’s Finance, 56 percent of vets have revealed that they have had to put down cats and / or dogs in the past five years because their owners could not afford the required treatment. In addition, it was found the 88 percent of vets have encountered situations where owners have ‘rejected a recommended course of treatment or operation’ due to an inability to pay for it.
Sainsbury’s Pet Insurance Manager, Joanne Mallon, commented: “It should be an essential item on a prospective owner’s list when weighing up whether to purchase an animal or not. Doing without insurance is simply false economy and worse still could result in some heart breaking family decisions being made later down the line.
“Advances in veterinary science mean that our pets can get the best treatment possible these days, but these improvements including everything from more sophisticated scans to cancer treatments come at higher costs and the financial burden is being felt by pet owners. Despite this, the vast majority of our pets are not insured so their owners have no protection against large veterinary bills.
“Vet fees are increasing by around 12% a year, and as a result of this we may see more animals needlessly being put down because their owners cannot afford it.”
The research uncovered that 63 percent of vets are of the belief that there has been an increase in the cost of treating a skin tumour on a cat or dog during the past 12 months. Furthermore, it was found that 53 percent of vets reported a rise in the cost of treatment for dental trauma. Additional reports of cost increases included the treatment of gastroenteritis at 65 percent, lameness at 61% and diabetes at 57%.
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Homeowners who are juggling ad hoc bills and regular commitments could consider taking out a secured loan to tie up any existing credit into one manageable monthly repayment. One of many finance options available, a secured loan for consolidation could leave borrowers with lower monthly outgoings. This extra money could potentially be set aside in a savings account for future use. However, if opting for a secured loan to consolidate debt, it should be remembered that consolidating your debt may increase the amount you pay back overall and extend the repayment periods of your debts.
10 percent permanently see red when it comes to their overdrafts
Tuesday, March 9th, 2010According to moneysupermarket.com, 10 percent of British adults are ‘permanently in their overdraft’ whilst 12 percent go into their overdraft a minimum of five times per year. Furthermore, the comparison website’s research has shown that 38 percent of bank customers have utilised their overdraft facility during the last year. These figures reportedly ‘demonstrate an improvement’ compared to 12 months ago when they stood at 17 percent, 15 percent and 52 percent respectively.
Head of banking at moneysupermarket.com, Kevin Mountford, commented: “Whilst it is encouraging to see less and less people reliant on their overdrafts, we should be concerned that there are still such a large number of people permanently overdrawn. With rising inflation, it is going to be difficult for many to break the habit of living in the red, and it may be that more people will fall back into this position as living costs increase.”
“The charges attached to overdrafts have been at the forefront of the news agenda over the last couple of years, with the courts eventually deciding the banks can penalise those who go overdrawn in whatever way they choose, without interruption from the Office of Fair Trading (OFT). The dangers of being overly, or entirely, reliant on your overdraft are clear; firstly this can be an extremely expensive debt to carry if it hasn’t been agreed with your bank in advance, and secondly your bank can reduce the size of your overdraft with little warning.
“Consumers should always consider the ways in which they use their current account, and make sure they have the right product to match. For example if you dip into your overdraft on a regular basis, your main concern should be minimising the costs of going overdrawn; but if you’re never overdrawn you might want to look for other benefits, such as charges for use abroad or in credit interest rates.”
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Homeowners who would like to re-organise their finances – particularly any existing credit – could consider taking out a secured loan for consolidation. One of many finance options available, a secured loan could be used to tie up borrowings such as credit cards, store cards and personal loans into one manageable monthly repayment. In taking this approach borrowers could be left with a single monthly repayment that is lower than the sum of existing outgoings. However, if opting for a secured loan to consolidate debt, it should be remembered that consolidating your debt may increase the amount you pay back overall and extend the repayment periods of your debts.
