House price growth lowest in six years
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.
Don’t forget the Child Trust Fund
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.
House price fears as Brexit looms
UK house prices could crash by as much as a fifth if Boris Johnson pursues a no-deal Brexit, and the biggest falls would be in London and Northern Ireland, a leading accountancy firm has said.
Savings rates tumble
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.
Bond rally bad news for annuitants (annuity)
Annuity rates have tanked by 14% so far this year, with a £100,000 pension pot now buying a 65-year-old £4,654, £759 less than at the start of the year, according to research. Rate changes have been even more pronounced for younger retirees.
Pensions warning for women
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.