Archive for the ‘Uncategorized’ Category

TweetShareFriends Provident’s new report on lifestyles found that many parents are spending their children’s inheritance to the tune of £240 billion each year. Jeremy Ward, head of pensions marketing at Friends Provident, called for a balance on saving and spending: “This is a real balancing act for parents who want to enjoy the money they’ve [...]

TweetShareBev Budsworth of The Debt Advisor said that in addition to letting children leave home without knowing how to boil an egg, materially well-off parents are failing to prepare children to living on their own financially. “Teenagers who are given no responsibility in the family home tend to have no respect for the material items [...]

TweetShareOver 21 million adults – 46 per cent of the Defaqto survey – said they do not want or believe they would ever need financial advice. Neil Morgan, Defaqto’s sales and marketing director, appeared concerned over these findings: “It is still the case that millions of consumers still do not believe independent advice is appropriate [...]

TweetShareAccording to JP Morgan, a quarter of 18 to 34-year-olds would opt out of the government’s proposed National Pension Savings Scheme to pay off short-term issues such as debt or even pay for a holiday. “The statistics show that young professionals have a poor grasp of exactly how their long-term financial security is going to [...]

TweetShareAccording to Lloyds TSB research, consumers are worried that the base rate will rise from its current 4.5 per cent in the near future, pushing up the amount many will have to repay on loans. “It is not what rates do – but the expectation of what they do,” said John Butler, chief UK economist [...]

TweetShareFigures from the Council of Mortgage Lenders (CML) show that the non-conforming market is growing at six times the speed of the regular market. As large debt levels force people to look for alternatives to traditional mortgage options, the non-conforming market has risen from £1 billion a decade ago to be worth £25 billion now. [...]