The items that stand out in the latest Finacial news.
National Savings has to reassure Investors
NSI have had to reassure investors that their money is safe after many have been kept waiting for acknowledgements and certificates to be issued. The problem is in their administration. Apparently they having problems matching up applications and cheques.
Bank Branch closures
Bank Branches close at the rate if one per day. The Daily Mail has reported that the Banks are repaying the taxpayer who rescued them by closing branches at an unprecedented rate. We are now one of the worst served per head of population for Bank branches in Europe.
Tories promise to axe Annuity Purchase at 75
The Tories have promised to remove the requirement for the elderly to buy annuities at the age of 75. This will be welcome news to many but there is a danger for those with small pension pots. Annuities do at least offer a guaranteed return for as long as the pensioner survives. The problem is that many are being forced to buy when when annuity rates are at their lowest. These rates are low due to two main factors. Current interest rates are low and people are living longer.
Invetsors Trapped by ISA Regulations
The Daily Mail has been running a campaign regarding ISA Transfers. It is clear that banks are abusing the ISA transfer system to their own benefit. Investors are not getting the best deals.
Wednesday, 3 February 2010
Tuesday, 2 February 2010
Presonal Finance News
In the Financial News
Property rents Fall
Interesting survey from Findaproperty.com regarding the letting market. More property available less demand due to first time buyers getting help with mortgages has led to a decrease in monthly rents.
Mortgage lending Crunch Predicted by Mortgage Lenders
When the present hep and subsidies from the government run out in 2014 a serious shortage of mortgages is being predicted by the Council of Mortgage Lenders.
Property rents Fall
Interesting survey from Findaproperty.com regarding the letting market. More property available less demand due to first time buyers getting help with mortgages has led to a decrease in monthly rents.
Mortgage lending Crunch Predicted by Mortgage Lenders
When the present hep and subsidies from the government run out in 2014 a serious shortage of mortgages is being predicted by the Council of Mortgage Lenders.
Fund Charges
Fund Manager Charges
The charges made by Fund managers are brought sharply into focus by a report in the Telegraph.
It highlights where the charges imposed by the fund managers over a period have eclipsed the reyrns to the investor. In other words Investors have in many cases paid out more in fees thatn they hjave receivd as a retun on their investment.
Check out all the latest UK Personal Finance news on the site.
Equity release and home income plans is gaining more interest every week with more people looking at these pages. perhaps the low interest rates on savings and annuities as well as the uncertainties of final salary schemes are all playing a part.
The charges made by Fund managers are brought sharply into focus by a report in the Telegraph.
It highlights where the charges imposed by the fund managers over a period have eclipsed the reyrns to the investor. In other words Investors have in many cases paid out more in fees thatn they hjave receivd as a retun on their investment.
Check out all the latest UK Personal Finance news on the site.
- The FSA warns of thousands being on a fraudsters list.
- Bank loan rates reach a 10 year high
- The return of the old fashioned bank
Equity release and home income plans is gaining more interest every week with more people looking at these pages. perhaps the low interest rates on savings and annuities as well as the uncertainties of final salary schemes are all playing a part.
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