House price inflation in the UK has stagnated since the Brexit vote amid ongoing uncertainty and political turmoil. In a signal of Brexit’s negative impact on the housing market, September was the worst month for house price growth in the UK for more than six years, according to mortgage lender Halifax.
When it comes to saving money, many people will chose to put some aside for their children’s future. However, a Child Trust Fund set up by the Government could mean children already have up to £1,000 in the bank. Although many will save money for their children’s future, one scheme means their child could already have up to £1000 in a Child Trust Fund.
Since the end of August savings rates have tumbled unceremoniously, making life harder for savers looking for a good deal. So, what is going on? There are several plausible explanations for the raft of rate cuts from saving providers. And much of it joins together to paint a wider negative picture.
Women are likely to struggle in old age as a “part-time pensions penalty’ means they will be £106,000 worse off than men at retirement, a report has warned. Working fewer hours, either to raise a family or care for elderly parents, results in a 47% reduction in women’s pension wealth compared with men by their late 50s.