August 2013 - Charterbridge

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Monthly Archives: August 2013

Rise in state pension age to 67 risks widening inequality

Rise in state pension age to 67 risks widening inequality Raising the state pension age in line with higher life expectancy risks increasing inequality in retirement benefits, according to research, prepared by the Trades Union Congress. This abstract from the Financial Times was produced by Kantar Media Financial Times, p. 4 Co-op jobs ‘must go’ […]

DEPOSIT FOR FIRST HOME HITS £64,000

DEPOSIT FOR FIRST HOME HITS £64,000 THE average deposit for first-time buyers in London has hit an all-time high of £64,000, figures reveal today. The average London first-time buyer paid £256,853 for their home in the second quarter of the year, according to statistics from the Council of Mortgage Lenders, which represents high street banks […]

Housing aid will raise prices, lenders warn

Housing aid will raise prices, lenders warn George Osborne’s policy of kick starting the housing market with subsidised mortgages may inflate prices to pre-crash peaks and hit the potential first-time buyers it is designed to help, according to the Intermediary Mortgage Lenders Association. In the latest warning about the impact of the Help to Buy […]

Card firms on hook for £1.3bn mis-selling bill

Card firms on hook for £1.3bn mis-selling bill Thirteen of Britain’s biggest lenders yesterday unveiled plans to repay seven million consumers £1.3bn for mis-selling credit card protection products. City AM London, p. 5 Also appeared in : Daily Mail, p.1-4, Daily Mail, p.73, The Sun, p.54-55, The Independent, p.8, The Daily Telegraph Business, p.2, The […]

Worst pension annuity providers named

Worst pension annuity providers named The ABI has compiled a list of the worst pension providers in the UK, with Widows and Clerical Medical coming out at the top, paying an annuity of £839 a year on a savings pot of £18,000, compared with £1,099 at the best payer, Reliance Mutual. The Guardian, p. 26 […]

Only 32% of sellers drop price of house

Only 32% of sellers drop price of house The number of house sellers slashing their original asking price to attract a buyer is at a record low as confidence flows back into the market, according to property website Zoopla. Daily Express, p. 4 LOANS FOR HOMES HIT A 5-YEAR HIGH The Council of Mortgage Lenders […]

Squeeze on pension buyouts ahead

Squeeze on pension buyouts ahead Lawyers have warned that pension schemes interested in offloading their liabilities may be thwarted by a looming squeeze on market capacity. City AM London, p. 9 Rising house prices help Bovis boost profits by 19% The housebuilder Bovis has reported a sharp increase in profits, driven by soaring sale prices […]

Weekend economic news headlines

Clock ticks on pension allowance protection Pension savers with large retirement pots can now apply to lock into the lifetime allowance (LTA) at its current level of £1.5m, before it becomes less generous in 2014. This abstract from the Financial Times was produced by Kantar Media Financial Times Money, p. 3 Mortgage costs at 14-year […]

Labour criticises ‘rip off ‘ pensions

Labour criticises ‘rip off ‘ pensions Pensions minister, Steve Webb, announced this summer that he would relax rules preventing the state-backed pension provider, the National Employment Savings Trust, from competing against its commercial rivals. This abstract from the Financial Times was produced by Kantar Media Financial Times, p. 2 Buyers flock to market but supply […]