The AnswerBank Articles

Personal Accounts 'Will Be A Disaster'

The government's plans to introduce personal accounts in the 2012 pension reforms have been branded a disaster in the making by an industry expert. At a round table conference this week, an independent financial advisor said: "They will make pension provision worse not better." He added: "I wish the in...15:36 Mon 24th May 2010

Landlords Insurance Vital

Many of us do not own our own home and are in rented accommodation. When times are hard and it is difficult to make ends meet, some think that not paying their rent can help. However, this is not a good option and should be avoided at all costs. This is becoming an increasing problem for landlords who are worried they ...15:36 Mon 24th May 2010

Gym-Goers Urged To Use Judgment

Everyone, at one time or another, has decided to join a gym. Whether it is to get fit after the excesses of Christmas or to lose weight to go on holiday it can be a costly business. Consumers have been advised to be cautious to avoid paying more than necessary. According to the Office of Fair Trading (OFT), some peopl...15:36 Mon 24th May 2010

Society Of Will Writers Offers Advice On Inheritance Tax

Many of us know that when a close relative passes away we may be entitled to some of their estate. For example if a parent should leave their house to the children they all get a share of the proceeds of the sale of the house. However, the tax man also gets a share. This is called Inheritance Tax; it can also be called...15:36 Mon 24th May 2010

Payday Lenders Are A Growing Phenomenon

The credit crunch is prompting more people to go to payday lenders, according to an advice organisation. A spokesperson for the Consumer Credit Counselling Service (CCCS), described these kinds of loans as a "growing phenomenon" as consumers - particularly those who are less well off - are finding it more di...15:36 Mon 24th May 2010

Quiet Retirement For Most Britains

Everyone has the dream of finally finish work at 65 and then setting off on the round the world cruise, or visiting the grandchildren in Australia, or even buying a place abroad maybe in Spain or France and living the high life. We deserve it, we have worked long and hard for our pension and this is our reward. However...15:36 Mon 24th May 2010

Saving Over Spending Is New Trend

Saving money is proving preferable to spending it at the moment, according to an expert. Although people are storing their cash in a less "traditional" fashion they are managing their money in a way which is equal to saving, a Lloyds TSB's study has found. This trend, sparked by low interest rates, has lead...15:36 Mon 24th May 2010

First-Time Buyers 'Increasing Thanks To Higher LTV Mortgages'

While many parents are helping their kids to get a foot on the property ladder there is now another option available, which could ease the burden. First-time buyers could see an increase in numbers due to the reintroduction of higher loan-to-value (LTVs) mortgages, it has been asserted. With banks such as Abbey curre...15:36 Mon 24th May 2010

Savings 'essential for emergencies'

Since the recession has taken a firm hold on all of our finances, many people have opened savings accounts to put money away for a rainy day. Despite the interest rates being quite low on these accounts, many are still choosing to save rather than pay off immediate debts, as they feel that the possibility of some finan...15:36 Mon 24th May 2010

Offset Mortgage 'Could Be A Profitable Swap' For Homeowners

With many of us feeling the pinch moving house could be the last thing on your mind. However, there are still plenty of people out there looking to buy or sell a property. Of course, though, the time has to be right and in the current financial climate many are simply waiting to see what happens. There are other optio...15:36 Mon 24th May 2010

HSBC 'Delighted' To Win Banking Award

We all hope for the best from our providers; especially those that deal with our hard earned cash. So it is good news for those who have accounts with HSBC as they have been voted the top bank for customer service in a recent report. A well known brand and innovation strategy firm ranked the company top of a list of t...15:36 Mon 24th May 2010

‘Effective’ Planning Can Reduce Inheritance Tax Bill

It is traumatic when we lose a loved one but it can be a nightmare to sort through the finances of the deceased. Trying to work out how much goes to whom and what to do with any property is the last thing you need when you are still grieving. In addition, the taxman wants his cut of the pot too in the form of Inheritan...15:36 Mon 24th May 2010

Mortgage Holders Offered Help With Payments

Many of us are struggling to make ends meet but for some the point of no return has been reached and they can no longer make mortgage payments. This could be a serious problem and if left could lead to eviction and house repossession. Now help is out there in the form of temporary government grants. The Homeowners Mor...15:36 Mon 24th May 2010

Antibes 'Ideal' For Brits Wanting A Second Home

We have all been on that perfect getaway – the weather was superb, the beaches pristine, the kids hardly squabbled and you and your partner didn’t row once. What if you could repeat that experience every year, how great would that be For most of us a visit to a foreign country is usually a holiday or occa...15:36 Mon 24th May 2010

Saving 'Not Encouraged' By Pension Tax Rule Changes

Although many of us are saving for our retirement recent news from the government is discouraging for some. The highest level of tax relief will be restricted for those earning more than £150,000 a year and it will disappear altogether for those with income over £180,000. These higher earners will only get ...15:36 Mon 24th May 2010

Recession 'Has Greatly Increased UK's Fear Of Identity Theft'

Recent research by a software developer found that nearly three quarters of respondents are more alarmed by the threat posed by ID crooks during the current economic crisis than they were before it began. Furthermore, nearly nine out of ten of consumers are concerned that their financial details – such as their b...15:36 Mon 24th May 2010

Cash ISAs Becoming More Popular

Although many of us cannot spare much money to put into our savings it seems that those who can are doing it more often. According to a Scottish financial institution cash ISAs are being invested in more frequently. Deposit levels in these types of nest eggs have increased by almost ten per cent at Clydesdale Bank. In...15:36 Mon 24th May 2010

Bankruptcy ‘Increasing In Scotland'

Recent figures released by the Accountant in Bankruptcy found that the number of companies going to the wall has risen by over 150 per cent compared to the same period the previous year. In real terms, this amounts to more than 3,700 businesses going under. The number of individual insolvencies has also soared - by aro...15:36 Mon 24th May 2010

Low Credit Score 'Could Be Result Of ID Theft'

Low credit scores and blacklisting could be down to ID theft, which a new study has revealed could be set to increase. The research done by a leading online insurance provider has found that the number of people whose rating could be affected by the crime is "likely to almost double" in the next half-decade....15:36 Mon 24th May 2010

Bargain Hunt star opens pawn brokers

A celebrity known for helping members of the public find and sell trinkets has opened a new pawn brokers in Coventry. David Dickinson – who found fame on Bargain Hunt and has subsequently gone on to present Dickinson's Real Deal – cut the ribbon at the Rex Johnson Online store on Hertford Street in the city...15:36 Mon 24th May 2010