Is it worth going for a bundle with your broadband provider?

Many UK households these days have a wide range of television channels, a landline, and a broadband connection, but many people still take these services separately through different providers. Read more

Tags: Virgin Media, basic services, Technology_Internet, basic landline services, broadband, Digital technology, Digital TV

House price bubble formed due to higher demand for property in UK

Recent reports have indicated that s house price bubble is being formed in the UK, with the main cause of this being the high demand for properties compared to the low supply from sellers. Read more

Tags: Estate agent, Danish property bubble of 2000s, National Association of Estate Agents, Real estate economics, Real estate, Real estate bubble

Lenders consider lower deposits from borrowers

A number of recent reports have suggested that some lenders in the UK are now considering lower deposits from first time buyers. This comes after a particularly difficult couple of years where many first time buyers and low income families have been unable to get a mortgage because of the extortionate deposits that lenders have been demanding from customers. Read more

Tags: United Kingdom, traditional mortgage, Mortgages, Consumer fraud, mortgage

No increase in base rate again

For the ninth month in a row the Bank of England has decided to keep the base interest rate on hold, leaving it static at its lowest level in history, which is just 0.5 percent. The decision to keep the base rate so low has come as no surprise to most industry experts given the ongoing problems facing the economy and further threats of job losses. The announcement was made following the December Monetary Policy Committee meeting, which was held last week.

The Bank of England also announced that it would continue with its quantitative easing program to try and revive the economy, having announced last month that the plan was being extended to a total of £200 billion, reflecting an extension of a further £25 billion. Originally the maximum amount earmarked for quantitative easing had been £150 billion. No clue was given as to whether the scheme would be extended further next year.

Many industry experts have slated the quantitative easing programme, stating that it is clear that the plan is not having the desired effect on the economy but the government is continuing to use the programme to try and ease the economic problems. It is thought that when the current programme runs out in January the government will announce whether it plans to extend the scheme further.

In the meantime, an economist from Global Insight, Howard Archer, said that it was likely that the Bank of England would keep the base rate on hold at 0.5 percent until late next year, and even predicted that it could be 2011 before the base rate was increased. He said that fears over unsustainable recovery meant that it was far too soon for the government to think of policy tightening.

Tags: economist, Monetary policy, inflation, quantitative easing, interest rates, Howard Archer

Save yourself some money this Christmas

Whilst Christmas is now only around the corner there are still plenty of people that simply haven’t had the time or spare cash to get their Christmas shopping done as early as they may have liked to have done it. Read more

Tags: online shopping, Gift economy, Credit card, Pricing, Retailing, shopping, New Year's Day

More millionaires created from house price boom than from lottery

It has been revealed that a greater number of millionaires have been created in Britain as a result of the house price boom than as a result of the National Lottery. In fact, according to reports over the past decade and a half twenty times more millionaires have been spawned from the boom in property prices than through the luck of the draw in the National Lottery. The study was carried out by High Street bank HSBC as the nationwide prize draw celebrated its fifteenth year. Read more

Tags: Wealth, london, National Lottery, money, property consultant, Lottery, housing market, property prices, Millionaire

Nationwide pleased about BIS decision

The credit card industry in the UK has been at the centre of a major crackdown recently, with government officials and regulators looking at ways to make things fairer for the consumer when it comes to credit card repayments. Recent proposals from the government were put forward to the Department for Business Innovation and Skills, and amongst the various suggestions that were put forward was an important issue relating to the allocation of repayments. Read more

Tags: BIS, order, various suggestions, credit card debt, building

Get ready for sale time

Whilst many of us may still be thinking about the forthcoming Christmas and New Year period, which is fast approaching, there are also many people that will be thinking ahead to the January sales, which are always popular amongst savvy shoppers in the UK. Read more

Tags: money saving, discounts, sales, fever, christmas, thrifty consumers

Shoppers need to look around for best credit card deals

Consumers in the UK are being advised by industry experts to make sure that they shop around for the best credit card deals, as many credit card providers are now offering a range of perks and benefits that could see consumers getting far better value for money on their spending. Read more

Tags: industry experts, Christmas period, vouchers, business, personal finance, credit card offers, credit card deals, Credit Cards

Ministry of Justice warning over another scam

The Ministry of Justice has recently issued a warning over another scam that has been used to dupe many consumers in the UK and swindle them out of large sums of money. According to the MoJ fraudsters are cold calling consumers and pretending to be government officials. Read more

Tags: upfront, fortune, claims management firms, fraud, Ministry of Justice scams, office of fair trading, Ministry of Justice, Ministry

How to save money on your Christmas gifts

Whilst Christmas is an exciting and fun-filled time of year for many people it can also fill many people with dread, particularly in the current climate where money has been really tight for so many households. Read more

Tags: money saving tips, save money, number, supermarkets, scheme

Consumers want to see more ten pound notes in circulation

The Bank of England is being urged to ensure that more ten pound notes are put into circulation after a flood of complaints from shoppers in the UK. Business leaders have told the Bank of England that consumers are getting annoyed at having to carry around larger notes such as twenty pounds notes in their wallets and purses because of the lack of ten pounds notes that are available. Read more

Tags: ten pound notes, bank of england, notes in circulation, twenty pond notes, 20 notes, 10 notes

Professor speaks out over part time student fees

A university professor has recently spoken out over the university fees for part time students, stating that with more and more part time students now in the UK something needs to be done to address the fairness of fees for this particular group. His comments come as a review has been launched over how students pay for their university education, and Professor David Latchman, Master of Birkbeck, University of London, has said that the growing number of part time students in the UK must not be ignored. Read more

Tags: fee support, time study, lowest incomes, ELQ, higher education agenda, student costs, United Kingdom

Rising value of instruments could mean increasing insurance cover

Many consumers that have valuable musical instruments take out insurance cover to ensure that should something happen to the instrument, such as damage or theft, they will not have to foot the bill to get it repaired or replaced. However, a recent report has suggested that some instrument owners may need to look at their insurance cover to make sure that it is adequate because the value of instruments has soared during the recession. Read more

Tags: musical instrument insurance, music industry specialist, insurance policies, japan, economics, Musicguard, valuable goods insured

Warning over further job losses from Bank of England

The Bank of England has warned that the UK could be in line for another wave of job losses as a result of productivity falling faster than wages. The central bank claims that this could result in further job losses in the New Year, which would come as a huge blow given the many jobs that have already been lost during the recession. Read more

Tags: Confederation of British Industry, job losses, huge blow, number, Labour, unemployment, central bank claims, bank of england

HBOS angers customers with new overdraft fee charges

The banking industry is already at the centre of heated controversy with the problems that it has been caught up in over the past couple of years, but one bank has now angered customers yet again with changes to its authorised overdraft charges. Read more

Tags: bank charges, hbos, hbos banking changes, overdraft fees, hbos bank charges

Lenders push borrowers into costly fixed rate deals

It has been claimed that some lenders have been trying to push their borrowers into costly fixed rate deals at a time when the base rate has been at an all time low of just 0.5 percent for the last eight months. Read more

Tags: financial, Mortgages, move, low base rate, fixed rate mortgages, base rate

Consumers could miss out on bargains due to fear

The fear that many consumers feel about making purchases over the Internet could be causing them to miss out on the many bargains that can be found online.

Read more

Tags: internet scams, safety online, internet fraud, online fraud, online scams, internet security

Mortgage defaults are yet to peak

A recent report has suggested that whilst many people may already have fallen behind with their mortgage repayments the level of mortgage defaults in the UK has not yet peaked, and that it could be some time before the level of defaults hits its worst. Read more

Tags: recent report, mortgage arrears, england, mortgage defaults, crunch, government

Tips on buying a used car

Although the government’s ongoing car scrappage scheme has been welcomed by many industry groups and has been viewed as a boost for the motor industry for many consumers it has made little difference to their ability to get a new vehicle. Whilst the scheme offers up to £2000 towards a new car if the consumer scraps their old vehicle, subject to eligibility criteria, the consumer still has to find at least another several thousand pounds to purchase the new car, and in the current climate this isn’t always easy of even possible. Read more

Tags: car, second hand cars, used car tips, Everyone, check, used cars, save on used cars

Consumers warned not to cut back on health cover

Consumers in the UK are being warned about cutting back on their health insurance cover in order to save money, with one financial advisor claiming that the benefits of having health cover are too great to simply view this as something that can be cut back on. Read more

Tags: health, comparison sites online, health cover, health insurance options, critical illness, heart

Interest rates stay the same for eighth month

For the eighth month in a row the base interest rate has remained at its all time low of 0.5 percent. The announcement was made following the monthly Monetary Policy Committee earlier this week. Read more

Tags: quantitative easing scheme, easing, time, finance, governor, bank, output, committee

QE failing to make necessary impact

Following the recent announcement that a larger amount of money is to be ploughed into the economy through the quantitative easing programme a number of industry groups and officials have come forward to claim that the government is simply throwing good money after bad because the scheme is clearly not working. Read more

Tags: Federal Reserve System, economist, quantitative easing, estimates, gdp, Monetary Policy Committee, quantitative easing programme, economics

Consumers should shop around for Christmas credit cards

With the festive season almost upon us once again many people will be looking around at credit card deals so that they have the credit that they need to make their purchases for Christmas. Read more

Tags: Daskaloff credit card rating system, christmas credit cards, borrowing, repayment, Credit Cards, consumer

Consumers becoming more comfortable with shopping online

A recent report has suggested that a rising number of consumers in the UK are becoming more comfortable with shopping online, and this is set to result in a huge boost in the number of businesses running their operations online. Read more

Tags: online shopping, buyers and sellers, shopping, home, huge boost, internet

Parents keen to take out health insurance for their kids

According to recent reports there has been a rush in the number of parents that are keen to take out health insurance cover for their children, and this follows an outbreak of illnesses that have caused grave concern to parents. Read more

Tags: nhs, excellent care, national health service, health insurance, kids health insurance

Saving money on a night out

Before the global credit crunch and the recession many of us were able to enjoy a few good nights out, and although the cost of going out could often be high most of us were happy to pay what we had to in order to enjoy the chance to get away from it all and spend some time relaxing. Read more

Tags: money saving tips, nights out, student discounts, cinema discounts, Fandango, theatre discounts, Ticket, loved ones

What the economists think of the Quantitive Easing programme

The quantitative easing scheme is something that the government has been relying on to help pull the UK out of recession over the course of this year, but although the scheme has been extended on a number of occasions there are mixed reactions from industry officials with regards to just how well – if at all – this programme is working in terms of improvement to the economy. Read more

Tags: number, Fiscal policy, stimulus effort, policy, Quantitive Easing

Northern Rock cuts its repossession numbers

The nationalized mortgage lender Northern Rock has recently announced that it has managed to cut its mortgage repossession numbers as a result of the housing boom seen over the summer period. The bank has also seen stabilisation of the number of mortgage customers on its books that are in arrears with their mortgage repayments. Read more

Tags: repossessions, northern rock repossessions, result, northern rock, taxpayer, temptation, lender, general election

Tenants now carry out reference checks on landlords

There was a time when any tenant was considering moving into a privately rented property that the landlord would be sure to get a credit check carried out on the potential tenant. Read more

Tags: Politics, reference, government backed scheme, top, real problems, property, tenants, check

Why you need to shop around for car insurance

It has always been important for drivers to ensure that they shopped around for their car insurance. With so many insurance companies saturating the market competition in the vehicle insurance industry has always been very stiff, and for consumes this has meant that there are some very affordable deals available from insurance firms that are looking to provide the best deals in order to gain increased custom. Read more

Tags: car, level, cheap car insurance, car insurance, company, compare car insurance, result, car insurance quotes

Victory for victim of repossession

A man who was facing repossession by the provider of secured loans has enjoyed victory recently, after taking court action that resulted in the lender being unable to take repossession action against him for five years and having to cut the amount that he is repaying each month on his loan dramatically. Read more

Tags: Peter Bentley, missed repayments, Blemain, Blemain secured loans, secured loans, Blemain finance

CML revises repossession forecasts again

It has been reported that the Council of Mortgage Lenders has once again cut its forecasts for repossession numbers in the UK, having taken more recent industry figures and market conditions into consideration. Read more

Tags: quarter, cml, CML revises repossession, repossessions, Mortgages

Tips to Help You Save on Your Fuel Costs

During the winter months fuel bills tend to soar and are the second highest expense encountered by homeowners after their monthly mortgage payment. Read more

Tags: exit, fuel costs, length of time, electricity costs, mind, rate

Credit card firms try to woo back customers

Over the past couple of years credit card firms in the UK have been turning away an increasing number of clients, with the global credit crunch seriously affecting lending levels and leaving many people with little to no chance of getting credit. Read more

Tags: reward credit cards, cash back credit cards, period, cash back rewards, interest, United States, Credit Cards, pound

Credit card charges could be increased by banks

Over the past eight months the base interest rate in the UK has remained at an all time low of just 0.5 percent, with the Bank of England announcing only last week that the base rate was to remain at this record low for yet another month. Read more

Tags: regulatory pressures, card borrowers, credit card charges, write-off, record, credit card fees, order, Credit Cards

High demand for property creates house price bubble

According to a recent report the high demand for property from potential buyers has resulted in a house price bubble being formed in the UK. Read more

Tags: property, estate, base intrest rate, housing bubble, house prices, property demand

Is quantitative easing working?

When the Chancellor of the Exchequer, Alistair Darling, first announced plans for quantitative easing in the UK he said that £75 would be allocated for the scheme with an additional back up of a further £75 billion if necessary. Read more

Tags: economy, Economic policy, recession, bank, thing, quantitative easing

More lenders starting to look at lower deposits

Over the past couple of years things have been very difficult for first time buyers, and one of the things that has really affected the abilities of first time buyers to get onto the property ladder is the huge deposits that lenders have been demanding since the onset of the global credit crunch. Read more

Tags: 5% mortgages, demand, Banking, Mortgages, interest rate, low deposit mortgages

Staying in and saving money

For those people that have become used to going out to socialise, which can of course work out to be quite expensive, the current financial climate will be have come as a real shock, as it may have forced them to cut back on their spending and start spending more time indoors.

With many people still fearful about their job security and about spending money unnecessarily spending time in the house has become increasing common even amongst those that once went out on a regular basis.

However, whilst it may seem that being stuck in the house will equate to a boring, uninspiring evening this is not necessarily the case, and you can actually enjoy a very cheap night in whilst having plenty of fun and entertainment.

More and more people are now staying in rather than heading off on an expensive night out, and this has been proven through figures such as those released by takeaway firms, where profits have been soaring as a result of people ordering a takeaway rather than going out for meals.

A rising number of people are now starting to realise the benefits of entertaining at home or spending nights in rather than out on the town, and it doesn’t have to involve being stuck in front of the box watching programmes that you don’t even like!

In fact entertaining at home has become so popular that industry officials have come up with the phrase ‘in-tertaining’.

One industry official said: ‘The recession has made people far savvier when it comes to saving money, and millions of us have worked out that in-tertaining is a great way to cut back without missing out. So much so that a whopping 57% of our monthly, paid for entertainment is now being consumed in our homes.’

If you enjoy going out to dine with friends then the perfect solution is to dine in your own home yet still enjoy the same company. You could look at creating a great dish for your friends and bring in a few bottles to go with the food, which will work out far cheaper than going out for a meal. Alternatively you can order a takeaway if you want something more casual, which again should work out much cheaper.

You could even have a ‘bring a bottle’ type evening, where each of your friends brings a dish and a bottle, and you can enjoy a buffet style evening with evening mucking in with the cost and cooking.

Going to the pictures can prove quite expensive if there is a group of you going, so why not look at renting a DVD, getting some popcorn in, and having a fun night in front of the box without the constant dirty looks and ’shusshes’ that you might get at the cinema if you so much as sneeze! Again, this is a great way to save money whilst enjoying entertainment in a casual and fun setting.

In fact, many people are already doing this, with a DVD rental specialist stating: ‘Since the start of the recession, our membership has more than doubled in size as people look to save that extra bit of cash while still enjoying themselves. Staying in has definitely become the new going out. Our members are renting more titles than before, they’re buying more DVDs from our shop and now they’re even accessing films and TV online through our new digital service – more ways than ever for them to enjoy an entertaining night in.’

Even romance doesn’t have to cost a fortune, as you can enjoy a delicious home cooked meal – and for those that aren’t too good at cooking many supermarkets now offer meal deals where you can get pre-made meals that simply need to be warmed along with sumptuous deserts and wine, and with the right lighting and music you can recreate a wonderful romantic night in with the added benefit of a private setting.

Tags: money tips, evening mucking, spending money, pre-made meals, security

AA report huge hike in car insurance costs

Figures that have been recently released have shown that there has been a huge rise in the cost of vehicle insurance, and the cost of cover could continue to rise. The research was carried out by the AA and showed that the average cost of car insurance has rocketed by a record 14 percent, and it could rise higher still. Read more

Tags: car insurance costs, hike, better car, United Kingdom, car insurance, competitive markets

Christmas shoppers may be too nervous to get bargains online

A recent report has highlighted how, whilst many of the best bargains for Christmas may be available via the Internet, many consumers may be too nervous to take advantage of these offers because they are too nervous to use their credit cards online for fear of becoming a victim of credit card fraud. Read more

Tags: credit card fraud, online credit card fraud, online, vetting, Christmas shoppers, shopping

Are you looking for low cost flights?

With Christmas fast approaching many people may be thinking about heading abroad to visit loved ones and spend time with family and friends that live outside of the UK.

Some of us may even be looking at escaping the freezing winter temperatures in the UK and spending some or all of the festive season somewhere warm and beautiful.

Either way the likelihood is that in the current financial climate you will be hoping to get a bargain on the cost of your flights, as otherwise your travel costs can really spiral out of control, with some airlines taking advantage of the rise in travellers over the Christmas period by hiking up the price of flying.

 

In order to try and get the best prices on flights, whether you are travelling over the festive season or at any other time of the year, you need to make sure that you do your research, as otherwise you could end up paying far more than you need to.

You also need to learn not to take things at face value, as once again this could lead to unexpected fees and charges that could see the amount that you end up paying for your flights balloon.

 

Whilst there are a number of no frills airlines in operation at the moment it is very important to bear in mind that there is no guarantee that these will work out the cheapest for your journey.

Most of these no frills airlines advertise a very cheap headline price to get to your chosen destination, and this is what draws many people in initially.

However, once you have started booking the flight you realise that the cost is not as low as you thought and this is because there are loads of different extras that the airlines add on as you go along, and you have no choice but to pay these extras.

This includes relatively high charges for using your card to book the flight, charges for checking in, and charges for each piece of luggage that you want to take – all extras that are included in standard flights.

 

It is therefore important that before you commit to a no fills flight under the impression that it is going to be cheaper you take into consideration all of the extras, work out what the total cost will be, and then compare this against a standard flight where you do not have to pay an extras.

You may find that there is no difference at all in flight prices once you have done this or in some cases that the no frills airline works out more expensive than another one depending on things such as how many bags you are checking in.

 

It is also important to consider what days you are going to travel on, and if you can be flexible with your travel arrangements then you have more change of saving money.

Airlines charge different prices for different days of travel – for example, if you fly British Airways you will pay more to travel on a weekend than you would, say, on a Monday or Tuesday, and the difference each way can work out to be quite a significant one.

 

Comparing flights is very important in order to get the best deal, and you can do this with ease and convenience using the Internet. There are comparison sites that you can use to enter details of where and when you want to travel, and you can then view a list of flights that may suit your needs along with the cost of the flights.

This method of comparing flights can save you a fair amount of time and hassle, and will enable you to see at a glance which flight is going to suit your needs and fit in with your budget.

 

Tags: different prices, budget airlines, low cost flights, frills airline, cheap airlines, travel arrangements, Ryanair, different extras

Many older people getting a raw deal with insurance

According to a recent report many older people in Britain are getting a raw deal with it comes to their insurance cover, with many insurers that target older age groups failing to give these consumers a fair deal. Read more

Tags: fair deal, British Insurance Brokers Association, car insurance, older clients, Vehicle insurance, report, senior car insurance, company

Charities Get Only A Small Percentage of Charity Christmas Cards

With Christmas just around the corner many consumers in the UK will be looking to buy charity based Christmas cards, which allow them to not only get the Christmas cards that they need for the festive season but also to give to a worthy cause without any real effort having to be put in. Read more

Tags: card deals, charity cards, consumer campaign, charity christmas cards, case, generous, charirty donations

New regulations from FSA spark comments from Cable

Spokesperson for the Liberal Democrats, Vince Cable, has recently commented on the changes that have been introduced by the Financial Service Authority with regards to mortgage lending. Read more

Tags: economy, FSA mortgage lending, Association, fsa, Mortgages, something, building societies association

Jail for crash for cash insurance scammer

Insurance fraud has been soaring over recent years, and one of the scams that some fraudsters have developed is to have accidents on purpose, making them the fault of the other driver, and then claiming tens of thousands of pounds in insurance money. Read more

Tags: car insurance fraud, Mohammed Patel, crime, crash, car insurance scams, car insurance claims, course, driver's insurance company

Gordon Brown promises to pull Britain out of recession

The Prime Minister, Gordon Brown, recently promised in a podcast that he would pull Britain out of recession.

His promise came after shock figures released recently revealed that the economy had once again shrunk by around 0.4 percent despite hopes that the economy had improved, which means that Britain is now in its longest ever recession. Read more

Tags: britain recession, longest recession, recession, shock, promise, credit card limits

Smaller packets offer better value in shops

According to a recent report shops in the UK are aiming to offer customers with better value for money by offering smaller packaged items for a lower price rather than forcing customers to purchase unnecessarily large items for a more expensive price. Read more

Tags: money, IPhone, Retailing, cheaper shopping, discount stores, move, money saving, Tesco Value chocolate

Good news for bank customers due to new measures

Banks have been at the centre of a great deal of controversy over the past couple of years for a range of reasons, ranging from the controversial bank charges on unauthorised overdrafts – which is still being dealt with by the courts – to security breaches, unfair treatment of customers, and lack of clarity when it comes to terms and conditions. Read more

Tags: Fair Trading, bank accounts, measures, switch accounts, kevin brennan, bank charges, consumer affairs minister, controversy

Avoid late payment fees on credit cards with direct debits

As most people know the fees and charges that credit card firms impose for late and missed repayments can quickly add up, costing a small fortune. Whilst credit card companies have had to cap these fees at a maximum £12 for the last few years they fees can amount to a tidy sum over time.

Given that many people make late repayments from time to time or even miss repayments altogether credit card companies are able to make a fortune from these fees.

Industry officials are now advising consumers to try and avoid paying these fees by ensuring that their payment is made every month and in time.

Whilst this is not always easy given the fast pace of life that many of us have to cope with there are ways to ensure that your payment is never missed or late, thus avoiding the hefty fees that can otherwise be applied to your account.

Consumers who set up a standing order or direct debit to have their credit card repayments made each month do not run the risk of missing repayments or making late payments, and therefore do not have to worry about being charged because of this.

Customers are advised to set up a payment for at least the minimum amount to come out, although those that pay in full each month can make arrangements for the full bill to be paid each month.

One consumer stated: “I used to miss credit card repayments on a regular basis, and because of this I used to spend a fortune in charges alone, which was a complete waste of money. However, not that I have made arrangements with my bank I know the money will go our automatically and in time, so I have no need to worry now.”

Tags: Direct debit, credit card charges, standing, industry officials, credit card late payments

Banks make agreement following pressure from OFT

Following continued pressure from the Office of Fair Trading the banking industry in the UK has agreed that it will not only make current account charges clearer for customers but will also make it easier for customers to switch to another provider should they wish to do so. Read more

Tags: Banking, office, bank agreement, office of fair trading, damaging reports

John Lewis Store opening sees massive turnout

Whilst there is still a great deal of gloomy news relating to the recession, the economy, and lack of spending on the High Street, a recent store opening in Dorset saw a massive turnout, with more than a thousand customers pouring through the doors to enjoy the opening of the flagship store. Read more

Tags: dorset john lewis, National, experience, shopping, High Street

Whopping overdraft charges from Halifax

The High Street lender Halifax is to increase its borrowing costs from December of this year, and this will see customers having to spend a small fortune on the cost of borrowing, with the lender planning to hike up borrowing costs significantly. Read more

Tags: halifax, interest, halifax bank charges, bank charges, overdraft facility, income, charging structure

Advice for Getting the Best Deal on Broadband Service

There is no doubt that Broadband provides a much faster Internet connection than dial up. Consumers also prefer Broadband because of the ease with which they can surf the net and download music and movies. Online shopping has also increased dramatically since the use of Broadband became more prevalent. Read more

Tags: GBP, higher speeds, best broadband, wide range, Broadband connection, price ranges, telephone, best internet speeds

Card fraud goes down whilst banking fraud increases

Recently released figures have shown that whilst credit card fraud in the UK has been going down, which will come as a relief to the many cardholders that have been fearful about becoming victims of this sort of crime, the level of online banking fraud has been increasing. Read more

Tags: Credit card, banking fraud, level, losses, credit card fraud

Tips to Help You Save on Motoring Expenses

The prospect of owning a new car may send thrills up and down your spine, but the expenses you have to incur afterwards are not as thrilling. When you buy a brand new car, the value of the vehicle drops by about 20% as soon as you drive it off the lot. Read more

Tags: test drives, car salespeople, time, great deals, slow sales, mileage, save money, motoring costs

Huge mortgage gap between those with big deposits and those with small ones

A recent report has highlighted the ever growing gap between mortgage borrowers that have a large deposit to put down compared to those that have only a 10 percent deposit. Read more

Tags: Mortgages, eighteen, number, interest rate, housing, competitive rates, mortgage deposits, debt

Bogus pricing at centre of crackdown

Supermarkets and travel companies have found themselves at the centre of a crackdown over bogus discount pricing after a number of complaints were made by consumers. Read more

Tags: office of fair trading, price crackdown, whilst, bogus discounts, bogus discount pricing, official, Pricing, sound

Virgin Money applies to become bank

Virgin Money has put in an application to become a fully fledged bank according to a recent report. The company, headed by Sir Richard Branson, already offers a number of financial products, but now wants to become a full service bank and has put in an application to do so. Read more

Tags: Financial Services Authority, crunch, virgin money bank, virgin money, banking service, Virgin

Many homeowners could have worthless insurance

It has been revealed that millions of homeowners in the UK could be hanging on to insurance policies that are actually worthless as a result of a loophole relating to past convictions, according to a recent report. Read more

Tags: Household, group, economics, home, homeowners insurance, home insurance, policy, tiny fine

More people putting money towards funerals instead of savings

According to a recent report an increasing number of consumers are now putting money towards their funeral costs rather than putting it into savings. It appears that the recession has caused a new trend to emerge, and rather than leaving their loved ones to foot the bill should the worst happen many people are already putting money aside for their funeral rather than putting their spare money into a savings account. Read more

Tags: money, space, year, service, increase, savings, london, report

More protection for DIY holiday fans

Over the years an increasing number of people have started to book their own DIY holidays rather than opt for a pre-bundled package deal with a travel agent, and with the expansion of the Internet, with all of the choices on offer with regards to flights, hotels, and other extras, more and more people have started to book their holidays in this way. Read more

Tags: Tourism, announcement, diy, british travel agents, something, expansion, holiday protection

Save money by ditching branded products

Despite much talk about green shoots and economic recovery for the average household money is still tight, and the global credit crunch and ongoing recession are still hitting hard. Read more

Tags: shopping, Brits, cheaper brands, branded goods, household money, cheap goods, green shoots, Sainsbury

Store card customers to be penalised for being in credit

These days more and more people are wary of spending too much on credit, and this is why so many people have decided to cut back on spending on their credit and debit cards, which is a sensible decision given the mounting levels of personal debt in the UK. Read more

Tags: house of fraser, debts, GBP, plastic, mothercare

Problems in housing market for younger Scots

It has been claimed that in the current financial climate many younger Scots are suffering problems when it comes to getting onto the property ladder. Read more

Tags: house prices, percentage rate, first time buyers, first time buyer, housing market, official, scottish housing market, deposit problems

Ways to Get a Bargain on the Cost of Your Holiday

When you decide it is time to take a holiday, instead of going to the airlines or the travel agent to make your reservations you should spend some time surfing the net. This is where the best deals are to be had on everything from flights, accommodations and car rentals. Read more

Tags: best deals, theme, save on holiday, holiday camping outdoors, Hoseasons

Mortgage arrears up by 30 percent

Over the past year the level of mortgage arrears amongst homeowners in the UK has increased by around 30 percent according to recent reports, and this is despite the fact that the UK base interest rate has been at its lowest level in the history of the Bank of England since April of this year. Read more

Tags: average, Mortgage loan, variety, situation, current climate, mortgage repayments, place

Safety Concerns About Internet Banking

How safe do you feel when doing your banking online? Most people are confident in the security measures the banks have in place, but in spite of the cases of online fraud almost doubled in 2008 and experts expect this percentage to rise in the coming years. Read more

Tags: main ways, keylogging, online fraud, extra steps, safety, place

Dormancy fees could affect customers trying not to use their credit cards

Whilst credit cards have certainly come in useful for many people in the current financial climate, overstretched finances and the threat of job losses has resulted in many consumers trying to avoid using their credit cards other than in dire emergencies, preferring instead to keep the card to one side and only use it if and when it is really needed. Read more

Tags: credit card provider, account, month, creditcard fees, american express credit cards, thing, consumers, dormant credit card charges

Opinions split over housing revival

Over the past few months there has been a turnaround in terms of property prices in the UK, and following a long period of house price falls property prices have been increasing again, albeit at a fairly modest rate. Read more

Tags: house, agency, house price revival, conditions property prices, National Association of Estate Agents

Dixons tries new tactic to beat retail rivals

High Street retail giant Dixon’s has decided to try a new tactic when it comes to beating rival retailers in the run up to Christmas. The retail giant has realised that whilst consumers want to save money on the cost of their purchases in the current difficult financial climate they also don’t want to risk purchasing something that they know little or nothing about for the sake of saving a few pounds, as this could mean that they end up with a totally unsuitable product. Read more

Tags: Electronic commerce, Dixon's, Advertising Standards Authority, business, number, High Street, anything, online shopping

Charity ideas – great ways to give in the recession

With the recession still in full swing in the UK most households are trying to make cutbacks, and this includes having to try and save money on everything from going out and entertainment to grocery bills, utilities, holidays, and more. Read more

Tags: event, uk, charity recession, donate during recession, quilts, swing, charirty, charity credit card

Dont Bust Your Budget on Your Next Night Out

According to popular financial website This is Money the cost of going out for the evening, especially for a family, have risen quite high in recent years so that it is often a real treat to take the family to a show. Read more

Tags: GBP, Spandau Ballet, individual seats, Entertainment Culture, better, entertainment costs, box, Airline ticket

Rising costs for BA travellers

Whilst British Airways is the epitome of Britain when it comes to air travel it seems that for those that want to fly BA will have to pay over the odds, as the airline brings in a variety of new regulations to try and help it cope with rising costs and increased financial losses. Read more

Tags: british airways, part, cash, reserve seats, low cost airlines, flights, BA, Ryanair-style

Many wasting money on unreliable broadband

Reliability is the most important thing customers in Britain are looking for from their broadband provider according to a recent survey from a popular broadband news website. Read more

Tags: Virgin Media, internet services, service 34 percent, top, particular provider, broadband, triple-play tv, online services

Quarter 2 sees repossession levels fall

The second quarter of this year has seen repossession levels fall in the UK according to a recent report. Repossessions have been rocketing in the UK as a result of the global credit crunch and high interest rates. Read more

Tags: repossession, repossession levels, industry, repossessions, lenders, Mortgages, high interest rates

Second hand sales soar in credit crunch

With the global credit crunch still affecting most household finances many people have been looking for inventive ways to boost their income, and according to a recent report many have started selling their unused items to try and bring in a little extra cash. Read more

Tags: household finances, charity shops, second hand goods, global credit crunch, need, high chairs, area

Voucher scheme from Sainsbury’s to be stepped up

Over recent years consumers have become increasingly reliant on the various voucher and loyalty card scheme that have been made available by a variety of supermarket giants, and these schemes have enabled consumers to save money or earn rewards when they shop at the supermarket and have points put onto this loyalty card. Read more

Tags: Sainsbury, sainsbury's vouchers, regular customers, venture, shelf, nectar card, Tesco Clubcard, shelf prices

First Time Homebuyers in Scotland Being Frozen Out of the Market

Due to the recession and the slump in the housing market, lenders are requiring higher deposits on mortgages before they will approve a loan for a person interested in purchasing a new home. Read more

Tags: 25% deposit mortgages, palpable increase, Remax Platinum, mortgage, first time home, finance, council of mortgage lenders, first time buyers

Many expect to be able to survive on welfare

It has been revealed in a recent report that many people in Britain feel that they would be able to survive adequately on government welfare in the event that they lost their jobs. More than a third of Brits were found to believe that the government would provide them with adequate sums of cash if they lost their jobs, even though the amount per week comes to under £70.00. Read more

Tags: Britain, giant scottish provident, welfare, unemployment benefit, Scottish

Now could be the time to get on the property ladder

According to the results of a recent survey that was carried out many Brits think that it is now a good time to purchase a property and get onto the property ladder. The Building Societies Association carried out the survey, and the results showed that whilst market conditions continued to be difficult in the mortgage sector many Brits were still convinced that this was a good time to buy due to various other factors. Read more

Tags: the Brits, economics, Mortgages, Business Finance, first time buyers

No luck over challenge for UK retirement age

It has recently been announced that a law that enables employers in the UK to make employees retire at the age of sixty five is to be upheld, at least for the near future. The decision was made by the High Court, and means that workers in the UK may be forced to retire at that age whether they want to or not, and without any sort of payout from the company. Read more

Tags: Law Crime, year, finance, uk, future, retirement

It is not the end for the car scrappage scheme

When the government brought in the car scrappage scheme earlier this year many industry groups and consumers were delighted. The scheme had already been used in a number of other European destinations, and had proven very successful. Read more

Tags: initial teething problems, car scrapping scheme, Engineering, twelve months, Software engineering, scrap old cars

Cutting your energy bills to save money

We have all had to make cutbacks over the past eighteen months or so in order to try and stay afloat financially, particularly with the global financial crisis and the recession still taking their toll. Read more

Tags: huge outgoings, Climate change, provider, lot, electricity

Repossessions fall in second quarter

Since the onset of the global credit crunch, and with interest rates having soared over 2006 and 2007, many homeowners have struggled to keep up with their mortgage repayments, which led to soaring repossession levels in the UK. The numbers of repossessions over the past couple of years have made for gloomy reading, prompting the government to take action such as slashing interest rates to an all time low.

However, a recent report has shown that in the second quarter of this year the number of repossessions in the UK has dropped by 9 percent, and industry officials have claimed that this is down to a combination of factors.

The rock bottom base interest rate of 0.5 percent is one of the factors that has been attributed to falling repossession numbers. Another factor that is claimed to have helped cut repossession numbers is the way in which cases are now handled by courts and lenders.

Between April and June of this year 13,610 homes were repossessed in the UK, and this compared to the 14,884 homes that were repossessed in the first quarter of the year between January and March.

However, compared to the second quarter of last year repossession levels are still up by around 23 percent. The Financial Services Authority has said that one of the main reasons behind the quarterly drop in repossessions is likely to be the changes that have been made in relation to how repossession orders can be granted by courts.

One official said that it was also down to the fact that people were becoming more confidence about approaching their lenders when they ran into financial difficulties. He said: “Borrowers that have been in arrears believe that their lender has been helpful and has treated them fairly. Those that face payment problems should therefore not be daunted by their arrears, but should take control of the situation by seeking help as soon as they can.”

Tags: situation, drop, control, reading, mortgages defaults, second quarter, recent report, repossessions

Mortgage Defaults on the Rise as More People Become Unemployed

According to experts at City the number of homeowners defaulting on their mortgage could rise to about 400,000 by 2011 with the number of unemployed reaching a high of 3.5 million.

Ed Stansfield of Capital Economics equates the results of the current recession to that of the early 1990’s. At that time the housing crash and the recession resulted in 350,000 mortgage defaults. He expects that the unemployment statistics for 2011 will exceed that of the early 1990’s because of the close association between job losses and the inability of homeowners to make their monthly mortgage payments.

Stansfield projects that unemployment figures will reach a staggering 3.5 million by 2011. Banks are reporting that there are signs that this prediction is very likely to become reality.

Reports from Lloyds Banking Group show that at least 20% of the customers are now in a state of negative equity where they owe more money on their home than it is worth on the housing market.

As of the end of June, 2009, the largest High Street bank in Britain says over 83,000 of its mortgage customers are currently in arrears, representing an increase of 26% from 2008. The figures of arrears at the Bank of Scotland have not yet been released, but Northern Rock, a nationalised bank reports that it has more than 22,000 customers in arrears.

The Halifax division of Lloyds, though, is reporting that they are seeing signs of improvement in the housing industry. This is based on the fact that house prices are on the rise. In July house prices rose by 1.1% to an average price of £159,623. In spite of this increase, however, house prices are still about 12% lower than what they were last year with an average home selling for about £180,000.

The Royal Institute of Chartered Surveyors warns consumers not to read too much into the data. According to a spokesperson for this institute, “There has been a clear change in the housing market in the last few months and as a result it is unlikely that we will now see the kind of house price falls widely predicted at the start of the year. However, the outlook for 2010 is fairly uncertain and there is a real risk prices may slip back. Affordability is still stretched and mortgage finance, while improving, is fairly hard to come by.”

There is no need to panic if you feel that you are in danger of losing your job and think that you may end up defaulting on your mortgage putting your home at risk. Those who are finding themselves facing unemployment should discuss options with their lenders so that they can find ways of being able to continue making their payments and enjoying a clean credit record.

Lenders do recognize that during this recession there are many people in financial difficulty and are willing to help them find ways of easing the burden.

Tags: negative equity, increase unemployment, monthly mortgage payments, Royal Institute, recession, Stansfield, capital, mortgage defaults

Charities Reporting Reduced Donations

The recession has been hitting all parts of the economy and now its effects are being felt by charitable organizations. According to a recent survey, charitable donations have been down by as much as 11% in April alone. Read more

Tags: salaries, charity donations, monies, long way, sector, recession, highest salaries

Britons Selling Body Organs to Gain Cash to Pay Bills

The threat of losing their homes because of the inability to repay their mortgage payments has forced many people in Britain to use extraordinary means of finding the cash they need. Many have resorted to selling one of their kidneys as a way of clearing their debts and paying their mortgages. Read more

Tags: monetary help, body, term, getting out of debt, sell body organs, mortgage debts, kidney sale, lodgers

Are you being charged a fortune in interest on your insurance?

Buying insurance cover for your vehicle is already an expensive affair, and whilst there are different levels of insurance cover to cater for different needs and pockets there is no doubt that the cost of vehicle insurance cover overall has been rising for a number of different reasons, including the heightened level of insurance fraud in the current climate, which unfortunately honest drivers usually end up picking up the tab for. Read more

Tags: different levels, shop, car insurance, different reasons, insurance interest charges

Further limit reductions on credit cards could be in the pipeline

It has been claimed in a recent report that a growing number of credit card customers in the UK could see their credit limits reduced as credit card providers do their best to shore up their finances and claw back some revenue. Read more

Tags: credit card limits, Credit Cards, result, interest, bank, credit, mention

Weaker bargaining power for tenants reported

It has been reported that tenants in the UK now have weaker bargaining power when it comes to renting a property, and this is the result of fewer homes coming into the market for rent, according to industry officials. Read more

Tags: fewer homes, Association, tenants, sector, National

Tips for Spending Less on Your Holidays

Everyone needs to take a holiday at least once a year so that they can de-stress and unwind so that they will be rejuvenated and ready to return to work. Read more

Tags: save money, repayment, holidays, money saving ideas, cheap holidays

Rise in burglaries means more protection needed for households

Officials from the insurance industry have spoken out recently about the rise in the level of domestic burglaries during the recession, adding that it has become increasingly important for households to protect themselves from this sort of crime by ensuring that their homes are as secure as they can be. Read more

Tags: household theft, crime figures, percent, burglary rise, rise, recession, insurance sector, whammy

Huge debts owed by retirees

It has been claimed that many retirees in the UK are having to deal with huge amounts of debt with thousands of pounds outstanding on credit cards and loans. Read more

Tags: pensioners, GBP, mortgage debt, pensioner debt, retirement income, non-mortgage related debt

Dramatic fall in balance transfer card deals over recent years

Over recent years many consumers have benefited from using balance transfer credit cards, as these cards have allowed them to save money on their credit card debt interest. Read more

Tags: Business Finance, balance transfers, interest, period, credit card balance transfers, United Kingdom, balance transfer credit cards

Half of mortgages now have percentage fees

It has been revealed that in the current difficult mortgage market around half of all mortgages now have percentage fees attached to them, according to a recent report. Read more

Tags: mortgage fees, mortgage focus, mortgage percentage fees, spiral, Mortgages, borrowers, half, 49 percent

Financial complaints soar into their millions

Recent figures that were released have shown that consumer complaints relating to financial services have soared into their millions over the past few years, with data showing that between 2006 and 2008 more than nine million separate complaints were made to financial firms in the UK. Read more

Tags: mortgage endowments, fsa, Business Finance, United Kingdom, loan complaints, bank complaints, Complaint, financial complaints

Stop Overpaying Your Mortgage

In the past year, homeowners have been advised to overpay their mortgage whenever possible. However, this advice has changed in light of the news that banks and buildings societies have increased the interest rates they are paying on savings accounts. Read more

Tags: lower mortgage payment, overpay mortgage, savings accounts, london, brokerage firm, advice, mortgage repayments

£31,000 fall in average household wealth

It has recently been reported that average household wealth in the UK has fallen by around £31,000 since last year, with households seeing their household wealth drop as a result of the global credit crunch and the ongoing recession. Read more

Tags: Wealth, bank, homes in addition, Household, property prices, factor, billions

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