UK Money News - March 2008
For Money News and Related News then fan down this page for the headlines and choose a story that interest by clicking the red title - Happy Reading
31/03/2008
- Energy firms compelled to help poor with bills
New regulations have been unveiled aimed at forcing energy companies to help the poor with their bills. - Banks sign up to new code of conduct
UK banks and building societies are from today to be compelled to act more responsibly towards their customers. - Ethical investment expo planned for May
A new expo to highlight the benefits of ethical investment is to be launched in May, the UK Social Investment Forum (UKSIF) has announced. - House prices fell 0.2% in March
UK property prices dropped by 0.2 per cent during March, according a new housing market survey conducted by Hometrack. - Price of new build flats dips 26%
Prices for new build flats have slumped over the last three years, it has been revealed. - Brits choosing plastic over cash
Britons are increasingly abandoning using cash for everyday spending in favour of plastic cards, it has been revealed. - Brits set to rein in spending
Over half of UK adults plan to rein in their spending this year in the face of the apparent economic downturn, it has been revealed. - Brits urged to act early with Isa deposits
Britons planning on depositing their full allowance into an independent savings account (Isa) in the next tax year have been urged to do so as soon possible. - Returns up for buy to let investors
Buy to let investors are benefiting from higher returns - as demand for rental accommodation continues to rise.
28/03/2008
- Nationwide at risk of damaging consumer trust
Nationwide's decision to raise rates on its fixed rate and tracker deals could backfire on the company, a price comparison site has warned. - Housing market 'set to favour first time buyers'
First time buyers are well positoned to capitalise on the slowdown in the housing market, it has been claimed. - Investments in emerging markets 'offer long-term rewards'
Britons have been advised to consider investing in emerging markets for lucrative returns this year. - Complexity of energy tariffs deters switching
Moves to increase competition in the energy and telecoms sectors have improved the lot of many consumers but have left some of the most vulnerable Britons behind, it has been claimed. - Insurer warns drivers not to falsify information
With car insurance premiums on the rise, motorists have been warned to ignore temptation to attempt to cut their repayments by falsifying information. - John Charcol faces uncertain future
John Charcol, one of the largest mortgage brokers in the country, could be in danger of closure. - Consumers struggling to accumulate savings
The rising cost of living is leaving consumers with little opportunity to save money, a new study has shown. - Government are 'neglecting fuel poverty problem'
The government has abdicated its responsibility to eradicate fuel poverty in households deemed to be vulnerable by 2010, according to an energy advisory group. - House prices down 0.6% in March
UK house prices fell by 0.6 per cent during March - meaning they have now dropped for five consecutive months, according to Nationwide's house price index. - Savers profiting at expense of borrowers
People with significant savings are profiting from the current economic climate while poorer consumers are set to continue to struggle, it has been claimed.
27/03/2008
- MORE TH>N slams Sainsbury's home insurance offer
A home insurance offer from Sainsbury's has been branded "a short-lived, headline-grabbing promotion" by a rival insurer. - Britons hammered by car insurance fees
UK consumers are paying out £333 million in fees every year to car insurance companies to change and amend policies, price comparison site uSwitch.com has revealed. - 'No relief in property sector until late 2009', warns housebuilder
Homeowners have been warned that a recovery in the housing market is not due until the second half of next year. - Mortgage approvals up in February
Mortgage approvals for home movers were slightly up in February, new data reveals. - M&G Investments named fund manager of the year
M&G Investments has scooped the top prize for the second year in a row at a gala night for the fund industry. - Financial industry 'holds back ethical investments'
The growth of the ethical investment sector is being held back by the investment industry, it has been claimed. - Investors turn to bank stocks
Investors are increasingly turning to bank stocks, seeking to profit from the recent spate of volatility in the sector. - Nationwide confirms rise on mortgage rates
The UK's largest building society, Nationwide, has announced it is to raise rates on selected mortgages. - Pensioners turning to children for help with money
More and more pensioners are expecting financial help from their offspring, a survey has shown. - Youths aim to buy home 'before reaching 30'
Signs of a prolonged property slump have failed to dampen twenty-somethings' enthusiasm for getting on the housing ladder, a new report has revealed.
26/03/2008
- Range of mortgages dips 60%
The credit crunch has resulted in a huge reduction in the number of mortgage deals available, new data has shown. - Retirees facing soaring debt
Debt levels among those approaching retirement age have quadrupled in a decade years, new data has shown. - British Gas ads dubbed "misleading" by watchdog
A TV advertising campaign from British Gas has been dubbed "misleading" by the advertising watchdog. - Insurance industry calls for reform of claims system
UK insurers have made fresh calls for a reform of the system for settling personal injury claims. - More lenders offering long-term fixed-rate mortgages
More and more lenders are now offering long-term fixed mortgage products, it has been revealed. - Records sums to be wasted in tax this year
Britons will waste records sums in tax this year through not taking full advantage of tax allowances, it has been predicted. - Building societies in "good position" to continue new mortgage lending
Customers of building societies have been advised to stay calm in the face of news that some have shored up lending for new mortgages, according to the Building Societies Association (BSA). - Lenders raise rates on small unsecured loans
Interest rates on small, unsecured loans have seen a dramatic increase over the last year as lenders react to economic uncertainty, it has been claimed. - FMB urges govt to cut building repair VAT
The Federation of Master Builders (FMB) has called for a reduction in tax payable of building repairs to encourage owners of empty buildings to return their homes to the market. - Insurers offering no-claims bonus on second cars
Significant savings can be made by opting for a car insurance provider which allows customers to mirror their no claims discount on a second car, a price comparison site has claimed.
25/03/2008
- Charity to launch debt awareness scheme
A UK charity is set to launch a scheme to help young people avoid falling into debt. - 'Equity release set to boom'
The equity release sector is set to grow in the UK irrespective of government action, according to a leading trade body. - Alliance & Leicester targets youths with new ISA
Alliance & Leicester has announced the launch of a new independent savings account (ISA) aimed at encouraging youngsters to take advantage of the tax free savings on offer. - House prices rose 0.8% in March
Asking prices for UK properties increased by 0.8 per cent during March, according to new data from Rightmove.co.uk. - Car modifications "dramatically" increase car insurance premiums
Modifying a car can hugely boost car insurance premiums, a leading price comparison site has warned. - Banks urged to monitor online transactions more closely
Banks have been urged to find ways of improving the security when shopping online that put the onus on the customer. - New ISA limits fail to encourage savers
UK savers do not intend to take advantage of the new Independent Savings Account (ISA) limits when the come into force, a poll has shown. - Investors flocking to cash ISAs
Investors are increasingly choosing to deposit their money in cash Independent Savings Accounts (ISAs) instead of equity ISA accounts, new data has shown. - Stamp duty burden hitting buyers in South
Buyers of new build homes in the south of England are being hit by punitive levels of stamp duty, a new survey has shown. - Sainsbury's announces discounted home insurance cover
Consumers signing up for Sainsbury's buildings and home contents insurance can benefit from discounted premiums as part of a new offer.
12/03/2008
- Plastic card scams up 25%
Credit and debit card fraud soared last year with the use of UK cards overseas blamed for the increase. - Egg boss announces resignation
The head of internet bank Egg has resigned in the wake of a storm of controversy over the withdrawal of credit cards. - Pensioners urged to claim credit
Pensioners who have not received their winter fuel payments have been advised to check they are not eligible for pension credit. - Chancellor to encourage long term fixed rate mortgages
The chancellor of the exchequer is expected to introduce measures to make long term fixed rate mortgages more readily available in today's Budget. - Brits have become "financially overweight"
Britons' failure to pay sufficient attention to their finances has left 46 per cent of the adult population "financially overweight", according to a lender's study. - Storms spark 55% increase in home insurance queries
This week's extreme weather conditions have prompted the highest number of calls to Abbey Insurance since last summer's deluges, the company has announced. - Winter allowance topped up in Budget
Pensioners have received a fillip in today's Budget with the news that the lump sum they receive as winter fuel allowance is to be increased. - UK house prices rose 1.7% in January
Property prices across the UK were up during January, according to government data. - Darling pledges action over affordable housing
The chancellor of the exchequer Alistair Darling has announced moves to improve access to affordable housing in today's Budget.
11/03/2008
- Downturn in housing market hits 1990s levels
The UK housing market last month experienced the most pronounced downturn since the slump in the sector in the 1990s, a new report shows. - Share Centre: ISA take-up rose 60% this year
Investors flocked to Individual Savings Accounts (ISAs) during the first two months of this year, new data suggests. - Brits call for tax-free savings
The best way to encourage Britons to save more is to scrap tax on savings, a new study has suggested. - Brits missing out on tax-free savings
UK consumers are missing out on the chance to make significant savings due to widely held misconceptions about tax-free Independent Savings Accounts (ISAs), a new study has suggested. - Darling urged to tackle fuel poverty among pensioners
Tackling the issue of fuel poverty among pensioners must be prioritised by Alistair Darling in tomorrow's Budget, according to Age Concern. - Pension reform could leave thousands worse off
Hundreds of thousands of workers are set to be worse off in their retirement as a result of the government's planned reforms to workplace pension schemes, it has been claimed. - Credit crunch hits mortgage approvals
The credit crunch is continuing to impact on the UK housing market with mortgage approvals falling to their lowest level in nine years in January. - Holidaying Brits hit by credit and debit card charges
The four million Britons embarking on trips to the EU this Easter could find themselves collectively out of pocket by more than £180 million simply by failing to use the best credit or debit card, according to a price comparison site. - M&S Money unveils guide to ISAs and PEPs
M&S Money has produced an online guide to Independent Savings Accounts (ISAs) and Personal Equity Plans (PEPs) to enable potential investors to better comprehend the impending changes to regulations over their use. - Storms highlight importance of home insurance
Millions of homeowners are unprepared for flood damage as Britain braces itself for a repeat of Monday's extreme weather conditions.
10/03/2008
- Chancellor to tackle fuel poverty
Relief could be on the way for Britons struggling with skyrocketing energy bills in Alistair Darling's first budget on Wednesday. - First time buyers stung by stamp duty
First time buyers now pay almost double the amount in stamp duty compared with just five years ago, new data has shown. - Egg's Cash Isa 'more accessible than rival products'
Egg's Cash Isa (Independent Savings Account) offers savers greater flexibility over their money and is far more accessible than rival products, the firm claims. - Sheila's Wheels urges drivers to de-clutter car
Women drivers who leave personal belongings on display in the cars are leaving themselves vulnerable to theft, a car insurance provider has warned. - Smokers miss out on £12.5bn in savings
UK smokers who have clung to their habit despite mounting pressure to quit have passed up the chance to amass billions of pounds of savings over the course of the last year, new research has shown. - Consumer borrowing increased by £11bn last year
Increased pressure on household finances prompted the UK's level of consumer borrowing to soar last year, it has been revealed. - Millions of Britons neglecting life insurance cover
Millions of Britons are underinsured with many having no form of life insurance at all, a new study has shown. - Brits must work 70 days this year to pay off interest
The number of days worked by Britons just to pay off the interest on their debts has increased dramatically this year, a financial website has calculated. - esure: 'Storms highlight importance of home insurance'
The predicted rash of insurance claims from homeowners affected by today's storms has once again highlighted the importance of home insurance, it has been claimed. - Lenders trim interest rates on current accounts
A number of UK lenders have sought to safeguard their profits by cutting the interest rate offered on their current accounts, new research suggests.
07/03/2008
- Energy bills add to pressure on households
Rising energy bills are adding to the financial pressures on households, research has shown. - Chancellor urged to boost mortgage market
The chancellor, Alistair Darling, has been urged to boost the mortgage market by announcing new measures in his Budget next week. - Roads 'need long-term approach'
The government needs to get to grips with the road network and develop a clear long-term plan. - Eco homes to benefit south-east
Eco homes offer the south-east of England and other areas of high housing demand an opportunity to develop in a sustainable way, according to the Town and Country Planning Association (TCPA). - Fuel poverty affects 4.5m
Up to 4.5 million people are now living in fuel poverty, according to the price comparison website, uSwitch.com. - Mums make key financial decisions
Mums are the new heads of modern households, according to research. - Drivers at risk from 'bottoming out'
Drivers are risking having to make otherwise unnecessary car insurance claims because of a problem known as 'bottoming out'. - Met Office issues weather warning
Insurers will be bracing themselves for a flood of claims next week, after the Met Office issued severe weather warnings across Britain. - Sellers should watch out for bargain hunters
Nervous house sellers will need to be on the lookout for bargain hunters as the housing market slows. - Savers 'need Budget help'
People still keen to save despite the difficult economic climate need help in next week's Budget, the Nationwide has said.
06/03/2008
- Insurance whizz tops Forbes rich list
Bill Gates is no longer the world's richest man according to Forbes magazine's annual survey. - No change for interest rates
Interest rates will remain on hold for at least another month after the Bank of England's monetary policy committee (MPC) voted for no change this lunchtime. - Next cut likely in May
The Bank of England is likely to next cut interest rates in May, according to the Royal Institute of Chartered Surveyors (Rics). - Mortgage rates could rise despite MPC hold
Mortgage rates could rise despite today's decision by the Bank of England to leave the base rate on hold. - Hips poll shows positive result
Home information packs (Hips) have been well-received by the general public, according to a new poll. - Savers benefit from crunch
Savers are benefiting from the impact of the credit crunch, figures show. - Landlords get tax advice
Landlords are being offered tax advice by their trade association.
05/03/2008
- Consumers less confident
Brits were feeling less confident about the economy last month, according to the Nationwide. - Interest rates 'to hit 4% next year'
Interest rates could fall as low as four per cent next year, analysts claim. - Charities lose as workers gain
British workers will benefit from a lower basic rate of income tax from next month. - Tax warning for Darling
Alistair Darling has been warned that failing to properly consult business on changes to the tax system could see valuable investment move elsewhere. - Engagement rings may be under-insured
Less than a third (27 per cent) of engagement rings are covered by existing home insurance policies, a leading insurer has said. - Investors look to manage risk
Investors are likely to be diversifying their portfolio this year as a means of managing risk. - Savers urged to fill up their Isas
Savers have been urged to take full advantage of their Isa allowance before next month's deadline. - Investment firms slash charges
Charges on conventional investment products have fallen for the third consecutive year, the industry has said. - Investors encouraged to play fair
Investors are being urged to consider ethical issues when deciding where to put their money. - Low pay households benefit from wage rise
Low pay households will welcome news today that the national minimum wage is to increase to £5.73.
04/03/2008
- FSA to help struggling homeowners
The Financial Services Authority (FSA) has launched a campaign to help people struggling with their mortgage payments. - Students targeted with tax information drive
HM Revenue and Customs (HMRC) has teamed-up with the National Union of Students (NUS) to provide young people with information about the tax system. - Homeowners warned about quake damage
Homeowners have been encouraged to thoroughly check their properties for damage following the recent earthquake. - Work 'a good place for financial advice'
Work is a good place to give people financial advice, according to Britain's pension funds. - Graduates 'not a risky proposition' for lenders
Graduates battling with debts have been told not to worry about their credit rating and ability to secure loans. - Brits bothered by debt mountain
Britons spend a cumulative total of 13 billion hours worrying about their debt problems every year, new research has found. - MPC 'could cut base rate'
The monetary policy committee (MPC) could spring a surprise this week and cut the cost of borrowing, according to one forecaster. - Housing market 'needs cut'
The housing market needs an interest rate cut this month, estate agents have warned. - Hard shoulder scheme extended
The government has announced plans to extend a pilot scheme using the hard shoulder as an extra lane on the motorway.
03/03/2008
- Thoresen report backs money guidance service
A government-commissioned report has supported the establishment of a money guidance service to help British people manage their finances. - Brits 'apathetic' about money
Too many Britons are apathetic about sorting out their money problems, according to a leading insurer. - Pension 'is top employee benefit'
A company pension is the most popular type of employee benefit, according to a new survey. - Investors 'should be wary of bio-fuels'
Investors have been urged to take a cautious approach to bio-fuels. - Auctioneers see rise in repossessions
Auctioneers sold off more properties in the final months of 2007 than during the same period a year earlier, figures have shown. - Banks support money guidance pilot
The banking sector has leant its support to a pilot of the proposed money guidance service - Pressure grows for CGT delay
The government is coming under growing pressure to delay proposed changed to capital gains tax (CGT) arrangements. - Property 'may not provide for retirement'
Britons hoping to use equity in their homes to fund their retirement might not have quite as much money as they had hoped.
Money News: February 2008 | January 2008 | December 2007 | November 2007
