It was the 27th consecutive month that the Bank has left rates steady. The Bank’s Monetary Policy Committee, by keeping rates on hold, is betting that limits on economic growth will be more of a problem than inflation to the UK’s economy. Some have been urging that the Bank raise rates with inflation in the [...]
A new report from the Office of National Statistics shows that the UK’s gross domestic product was up by just 0.5 percent in the first quarter of the year as household spending dropped 0.6 percent in the period and business investment was down by 7.1 percent from the previous quarter. With the GDP down 0.5 [...]
A program to help save homes from repossession has been shown by a new report to have spent more money and helped fewer people than expected in the UK. The Mortgage Rescue Scheme, which began operation in 2009, was supposed to spend £205 million to help 6,000 families stay in their homes by either offering [...]
A new report from consumer advocates Which? said that big banks and building societies could be putting their customers at risk by not protecting the customer’s personal information carefully enough. The report said that 8 banks had 515 complaints lodged against them with the Information Commissioner’s Office (ICO) in 2009, the most recent period for [...]
When you take an annuity from the insurance company, you will benefit only if you live to a ripe old age. However, the insurance companies are changing the rules of the game. The annuity income that you are supposed to get is influenced by the area in which you live. If you are living in [...]
Affluent consumers can now pay attention to the stocks of big British brands. Several of them displayed their wares at the British Royal Wedding of the Duke and Duchess of Cambridge. UK fashion was all over the place. Names such as Mulberry, Catherine Walker, Vivienne Westwood and Burberry, were being flaunted by the guests. Luxury [...]
Back in 2009 most investors were left licking their wounds after the financial crisis. The FTSE 100 had fallen sharply and fund flows moved from equities to fixed income, bonds and absolute return funds. Official figures show that in the 1st 3 months of 2009 £4Bn was invested in bonds vs £200m in equities. The [...]
financialadvisor.co.uk reports that Britain’s 250th Premium Bond millionaire was created this month. In the UK there are 23 million Premium Bond holders which makes Premium Bonds Britains favourite savings product bar none. Overall the average ‘rate of interest’, which incidentally is tax free, is 1.5%. Add the fun value and chance of winning a cool [...]
The latest survey suggests that final salary pension schemes will be closed within the decade. PricewaterhouseCoopers surveyed 180 companies most of which had already closed final salary pension schemees. Further 94% of all firms surveyed intended to close their final salary scheme or reduce the benefits that existing members can build up. The rising cost [...]
The first time buyer is back… early indications suggest that stamp duty reduction has increased activity. Alistair Darling, the Chancellor, increased the stamp duty threshold from £125,000 to £250,000 for 1st time buyers. Melanie Bien, of Savills Private Finance, said: “Easter is traditionally the busiest time of year for the housing market and the Chancellor’s [...]