May 2013 - Charterbridge

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Monthly Archives: May 2013

Brussels fears UK is stoking new debt-fuelled home boom

Brussels fears UK is stoking new debt-fuelled home boom Chancellor George Osborne’s new scheme to boost mortgage lending could simply push up house prices and household debt, rather than benefit the economy, the European Commission warned yesterday. The Help to Buy scheme will use shared equity and mortgage guarantee programmes to make it easier for […]

Now five-year fixes fall to below 2.5%

Now five-year fixes fall to below 2.5 % Borrowers who want to lock into their home loan for five years can choose from some of the cheapest rates ever to hit the market. Last week, Yorkshire Bank launched a five-year, fixed-rate mortgage at 2.49pc. However, it is only for borrowers with a 40pc deposit and […]

Councils’ £347m pension fund fees

Councils’ £347m pension fund fees It has been revealed that councils are paying a total of £347 million to investment managers such as Aberdeen Asset Management, Fidelity, Goldman Sachs, Prudential and Schroders to run gold-plated pension funds for their staff. The Daily Telegraph, p. 2 Also appeared in : Financial Times, p.1 More will be […]

Labour to impose mergers on small pension schemes

Labour to impose mergers on small pension schemes A Labour government would require pension trustees to impose mergers on small pension funds which fail to deliver “good value” to their members under proposals from Liam Byrne, shadow welfare secretary. This abstract from the Financial Times was produced by Kantar Media Financial Times, p. 4 Relief […]

Nationwide profits soar despite bad debts

Nationwide profits soar despite bad debts Nationwide, Britain’s biggest building society, grabbed its largest-ever share of the mortgage market last year and saw its profits jump as it continued to attract customers from discredited high street banks. The Independent, p. 62 Also appeared in : Evening Standard London, p.44, Financial Times Companies and Markets, p.27, […]

Miners’ lifeboat scheme

Miners’ lifeboat scheme The Pension Protection Fund, the lifeboat scheme for distressed pension funds, could take ownership of the remains of the British coal industry to preserve 2,000 miners’ jobs and prevent UK Coal Mine Holdings, the successor body to UK Coal, going into liquidation. The Times, p. 33 Paragon’s virtue in buy-to-let The buy-to-let […]

Savers could lose tax-free perks, warn ministers

Savers could lose tax-free perks, warn ministers Millions of Scots will lose the tax-free benefits they enjoy on their savings if Scotland becomes independent, UK ministers claimed yesterday. The Times Scotland, p. 1-6 Pension Protection Fund warns of levy increase The Pension Protection Fund warned that it might have to increase the levy it collects […]

Pension funds switch out of equities

Pension funds switch out of equities European pension fund managers are ending their equity investments with greater frequency and speed, according to an FT analysis. This abstract from the Financial Times was produced by Kantar Media Financial Times Companies and Markets, p. 20 Let’s boycott this needless tax that would cripple markets and keep Europe […]

Weekend economic news headlines

Removing the stumbling block to a Junior Cash Isa The government is seeking to make it possible for CTF money to be transferable to a Junior Cash ISA. The Guardian Money, p. 5 That £160,000 home? It really costs £200,000 Developers have been criticised for advertising homes to first–time buyers at four–fifths of the actual […]

Final salary pensions in ‘meltdown’

Final salary pensions in ‘meltdown’ Millions of Britons could see the value of their pension payouts plunge after warnings that final salary schemes could close within a year. Daily Express, p. 13 3i chief Borrows left baffled by raider Bramson’s motivation Simon Borrows, the chief executive of the UK’s oldest private equity company 3i, yesterday […]