Money

EXCLUSIVE: One in five saving LESS as Bank's rate cut ups risk-taking culture

One in five people save less money each following the Bank of England’s interest rate cut last month, found peer-to-peer lender ThinCats. Policymakers sliced core rates down to 0.25 per cent at the beginning of August, sparking a mass of providers to slash saver returns. Now two in five Britons are reassessing their approach to savings and investments – with ...

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REVEALED: Which banks are getting most complaints from YOU?

Taxpayer-backed Lloyds Bank has topped the list of most complaints made in the first half of 2016 to the Financial Ombudsman Service (FOS). There were a whopping 22,241 new cases lodged against the lender, and a further 22,090 made against the Bank of Scotland, which is part of the same group. Payment protection insurance (PPI) were the subject of the ...

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Inheritance tax payments on course for RECORD HIGH, new research suggests

GETTY Houses worth over £325,000 are taxed 40 per cent when the owner dies If an estate’s value is over £325,000 then 40 per cent must be passed on to the taxman when the owner dies, though marriage doubles the threshold to £650,000. Research by Saga Investment Services shows the proportion of houses sold in England and Wales above £325,000 ...

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PENSION THREAT: Warning for pensioners over government plans to sell off retirement income

Amid fears consumers will lose out, Hargreaves Lansdown has said it won’t facilitate the sale of annuities by pensioners to investors. Prior to April last year, retirees were obliged to use their pension savings to buy the insurance products that pay a set income for the rest of their life. The requirement was scrapped after pensioners all too often ended ...

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Campaigners urge Government to slash costly EU red tape

EU directives drive up the cost and effort of buying motor insurance, selling a property or getting a mortgage and should be dropped to help ordinary Britons reap the financial benefits of Brexit. New research from specialist car insurer Sheilas’ Wheels shows young female motorists are paying out as much as £221 extra on insurance each year because of an ...

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Allow Brexit to slice through EU red tape

EU directives drive up the cost and effort of buying motor insurance, selling a property or getting a mortgage and should be dropped to help ordinary Britons reap the financial benefits of Brexit. New research from specialist car insurer Sheilas’ Wheels shows young female motorists are paying out as much as £221 extra on insurance each year because of an ...

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Avoid falling into a rate trap

Providers have rushed to cut rates on hundreds of savings accounts, but have been slower to reduce mortgage costs. You can redress the balance by fighting back to get a better rate on both your savings and borrowings. SAVINGS SAVAGED Bank of England governor Mark Carney’s move to halve base rates to 0.25 per cent last month has sparked another ...

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Get receipts for contactless payments or risk overpaying, shoppers told

Britons reported overpaying most frequently when tapping their cards, according to survey by service provider Paymentsense. A third of people admitted to sometimes or never check the amount entered before paying on contactless – and often only noticed incorrect payment when later looking at bank accounts. But as people often don’t get receipts from the payments, many could find it ...

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Mastercard hit with £14bn damages claim: Are you in line for a payout?

Between 1992 and 2008 British shoppers allegedly paid inflated prices for goods and services because the provider charged stores unlawfully high fees for processing debit or credit card payments, according to the lawsuit. The claim is being led by former financial services ombudsman Walter Merricks and was filed at the Competition Appeal Tribunal (CAT) in London under the new Consumer ...

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Five-minute guide to… Investing in gold

GETTY The gold price is up another 26 per cent over the past 12 months The precious metal has always had a special place in the hearts of investors and lately it has put in a glittering performance. The gold price is up another 26 per cent over the past 12 months, which is an incredible 2600 times the return ...

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