Sixteen year high for inflation in UK

According to recently released figures the level of inflation in the UK has now reached a sixteen year high, with inflation for September registering at 5.2%. The high cost of food, oil, and energy has been blamed for pushing inflation levels up to such a high figure, and the level of inflation is now way more than the 2% target set by the government. Inflation has been soaring for some months, and as a result of this the Bank of England has been unable to cut the base rate as quickly as had been expected at the start of the year, although it did apply a surprise 0.5% cut recently. Read more

Tags: inflation, interest, September, key issue, deflation

Property situation ‘bad as ever’ for first-time buyers

Despite recent reports that house prices are stagnating and even falling in some areas, Firstrung has said that the property situation is “as bad as it’s ever” for people trying to buy their first home. Read more

Tags: Firstrung, house, home, first time buyers, September, market, year, Mortgages

No more chip and pin for RBS credit cards

The Royal Bank of Scotland (RBS) is all set to introduce a new contactless credit card which uses radio waves to make payments.

All you have to do is touch the new credit card on terminals provided at participating outlets to pay for items under £10 – no pin is required.

Shops will start to use the new technology in September. RBS’ launch comes close on the heels of the new OnePulse credit card introduced by Barclays.

The OnePulse card works in the same way but can also function as an Oyster card, Barclays having signed a three-year exclusive deal with Transport For London.

The speedy nature of RBSs new credit card’s transactions was displayed after the company drove an AT & T Williams formula one car to a McDonalds drive through to buy a meal using the new technology this week.

Tags: September, chip, Credit Cards, formula, chip and pin

Hips may be universal by October

The Association of Home Information Pack Providers (Ahipp) is calling on the government to extend the introduction of Home Information Packs (Hips).

Officials at the organisation say that Hips could be applied to homes with three bedrooms or more from September and the rest of the market could follow just one month later.

The government was forced to announce that Hips would only be introduced to the home-selling process for properties with four bedrooms or more from August 1st after concerns about there being too few accredited energy assessors available.

However, Ahipp says that there are plenty of accredited energy assessors available now and even more on their way.

“According to our own research, in addition to the 1,340 accredited assessors, there are a further 1,200 assessors who have applied for accreditation and will be fully accredited by the end of July,” said Paul Broadhead, deputy director general at Ahipp.

“With this in mind, government will easily meet the 2,000 target that it suggests is needed to provide Hips for homes with three bedrooms or more.

“As a result, I see no reason why, in line with its implementation plan, government could not introduce mandatory Hips for three bedroom properties from September, with the rest of the housing stock soon to follow, perhaps as soon as October,” he added.

Mr Broadhead went on to say that he fully expected Hips to be mandatory in the home-selling process for all properties before the end of the year.

Tags: month later.The government, August, market, target, information packs, energy, September, information