UK Money

Bank staff lack compensation info

The Yorkshire Building Society and the Halifax were the only places where staff answered questions about compensation correctly, according to Which?

Bank and building society staff are giving "inexcusably" bad information about how much of their customers' money would be protected if the provider were to go bust , an investigation by Which? has found.

Home improvements 'add value'

Home improvements add value to a house, it is suggested.

Home owners could boost the value of their property by more than £37,000 by converting the loft or by almost £20,000 by adding an extra bedroom, according to research.

Mortgage lending increases by 33%

Housing market activity is continuing to grow despite tighter rules on mortgages

Mortgage lending in March was one third higher than the same month a year ago as housing market confidence continues to strengthen, banks and building societies have reported.

Lifespan estimates 'need updating'

Experts will look at factors such as smoking, eating habits and socio-economic background when determining a person's approximate life expectancy

Retirees risk being misled by estimates proposed by ministers which would tell them when they are expected to die unless this information is regularly reviewed, a leading pensions expert has warned.

Africa money-transfer fees slammed

The families of Africans living in the UK are losing tens of millions of pounds a year, a report found

The families of Africans living in the UK are losing tens of millions of pounds a year because of the high cost of sending money home, according to a new report.

Pay rises overtake 1.6% inflation

The report warned that unless urgent action is taken to tackle youth unemployment, 10 years of young talent will 'fall between the cracks'

Average pay rises have outstripped CPI inflation for the first time in four years, sparking a fierce debate on whether workers are benefiting from the economic recovery.

'Shocking' rise in food banks use

There has been a "shocking" 163% rise in the use of food banks in the past year, according to the Trussell Trust

Almost a million adults and children received emergency supplies from food banks in the past year, a "shocking" rise of 163% on the previous 12 months amid rising living costs, low pay and welfare problems, a new report has revealed.

Transparency sought on fuel scheme

Ed Davey is seeking to assess the impact of fuel efficiency schemes on bills.

The Government has written to energy suppliers demanding more transparency about the impact of a fuel efficiency scheme on household bills.

Current account market probe urged

Consumer group Which? wants the current account market referred for a full-scale competition probe to tackle the problem of too few people switching banks

The current account market should be referred for a full-scale competition probe to tackle the problem of too few people switching banks, consumer group Which? has urged.

Inflation 'erodes savings accounts'

Only around one in five savings accounts on the market pays enough interest to beat inflation

Only around one in five savings accounts on the market pays enough interest to beat inflation, despite the better news for households that the squeeze on their finances is easing.

House prices rising across the UK

House prices are rising across the UK, figures suggest.

House prices are now rising "strongly" across most parts of the UK after official figures showed values leapt 9.1% year-on-year to a new average high of £253,000.

Inflation fall raises pay hopes

The CPI is thought to have fallen to a new four-year low last month

Inflation fell for the sixth month in succession in March paving the way for an end to the prolonged squeeze on wages, official figures showed today.

Retail sales down for second month

Like-for-like sales fell 1.7% in March compared with the same period in 2013, figures from the British Retail Consortium show

High streets suffered a second month in a row of falling retail sales last month but a better performance from clothing put a silver lining on the gloom.

Extra council tax bands 'fair'

Nick Clegg says extra council tax bands are a workable alternative to a 'mansion tax'

Liberal Democrat plans for extra council tax bands covering high-value properties will be seen as "quite fair" by those in homes worth more than £2 million forced to pay the additional charge, Nick Clegg claimed.

Figures may end 'squeeze on pay'

Experts believe inflation figures may signal the end on the squeeze on pay.

A sixth consecutive fall in the rate of inflation is expected to herald an end to the prolonged squeeze on real wages when official figures are published tomorrow.

Aberdeen 'sees spare income boost'

Households in Aberdeen are £2,825 better off than they were in 2007, a study by  UHY Hacker Young found.

Aberdeen has seen the sharpest rise in disposable income in the UK since the recession thanks to historically low interest rates and the high price of oil, research found.