BBQ season could put homes at risk

Many people in the UK take out home insurance to protect both their belongings and their homes against damage, which can come in many different forms. One industry official has recently warned consumers to make sure that they stay safe when having barbeques at home, as there can be many dangers associated with this type of event.

With the lovely warm weather we have had recently and the summer season coming up there could be an increase in the number of people that are now having barbeques in their gardens and yards. These can be fun events for family and friends to enjoy but can also be fraught with danger, especially if there are kids around or a lot of people that are drinking at the BBQ.

Of course, consumers need to make sure that they do have adequate insurance in place to protect themselves financially in the event that something like this does happen during a barbeque. The Royal Society for the Prevention of Accidents has spoken out to urge consumers to be careful when they are holding a barbeque to ensure that they are taking precautions, having safety equipment at hand, and keep drinkers and children away from the barbeque to prevent any accidents that could damage the home and worse still cause serious injuries.

At this time of year the number of people having barbeques goes up and whilst this is great fun for those involved it does mean that danger levels also increase accordingly.

Sheila Merrill, RoSPA’s public health adviser, stated: “Hopefully, the good weather will continue throughout the summer and taking care with barbecues will mean that everyone stays safe to enjoy it.”

Tags: family and friends, Hopefully, accidents, home, Prevention

Commission based financial advice to come to an end

It has been reported recently that financial advice based on commission is to go through a clampdown, with the aim being to put an end to commission based financial advice by 2012. Read more

Tags: underway, product providers, commission based financial advice, adviser, agreement

Retired couples amass savings

Retired couples in the UK have average savings and assets to the value of £269,479, according to a survey.

The average figure for single pensioners was found to be £134,739, Prudential reports.

Despite retired people having amassed such substantial savings, the organisation states that only 17 per cent of pensioners have sought financial guidance from a professional adviser.

Gary Shaughnessy, Prudential’s managing director of retail life and pensions, expresses surprise at the amount of savings and investments held by the average pensioner.

He adds: “The average pensioner could substantially boost their retirement income simply by using their savings and assets in different ways and exploring other options such as equity release to deliver an income.”

A separate study revealed last week by Zurich Financial Services suggests that one in five of the overall population believe it is too expensive to see a financial adviser.

In addition, it found that only three out of ten single people stated they had sought professional financial guidance.

Tags: adviser, amount, single people, cent, Social Issues, Zurich Financial Services, financial adviser.In addition

Over half of Christmas consumers spend too much

More than half of consumers in the UK spend more than they can afford during Christmas, according to experts.

The figures from the Department of Work and Pensions show that 55 per cent of spenders over stretch themselves financially over the festive period.

Susan Clark, personal adviser at Jobcentre Plus, said that consumers should view their personal finances in the long term.

“Struggling to pay the bills after Christmas is a situation that many people find themselves in and it can be very stressful. Short-term fixes provide temporary relief but getting a job is the best way to improve your financial situation in the long-term,” she said.

People in London and the East Midlands are the best at planning their finances for Christmas whilst those in the North East are most likely to over spend.

Meanwhile, the Consumer Credit Counselling service has advised that those struggling with debt should avoid the January sales and concentrate on paying off them off.

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Remortgaging is ‘very popular’

Remortgaging has become ‘very popular’ in the last few years, according to a spokesperson for independent mortgage adviser Charcol.

Ray Boulger, senior technical manager at John Charcol, said: “The average life of a mortgage now is only three and a half years. And the reason it is so low is that a lot of people do remortgage frequently.”

He advised that those who are considering remortgaging need to examine their arrangements approximately three months before they reach the end of their current deal.

The key consideration to look at when remortgaging is how much such a deal will cost over the entire duration of the mortgage period, said Mr Boulger.

“The most important thing is to make sure the new mortgage you take out is affordable,” he concluded.

In November of this year, the Council of Mortgage Lenders reported that remortgaging and other lending was at £11.1 billion in September.

This figure was higher than the £11 billion of lending in August and the £10 million in September of last year.

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