Quarter of first-time buyers believe it will take them at least a decade to save a deposit

Decade of saving: A quarter of first-time buyers think it could take them at least ten years to raise a home deposit.

A quarter of potential first-time buyers believe they face the disheartening prospect of at least ten years of saving to clamber onto the property ladder. The tough task facing those struggling to buy their first home was laid bare in a Building Societies Association report.

Wonga launches 'buy now, pay later' instant loan option on furniture retailer's online store

Branching out: Wonga is now offering instant loans for online purchases through its Paylater service.

The short-term loans company is offering three-month loans to cover the cost of items ordered from furniture retailer The Cotswold Company, but intends to roll it out to more online retailers in the future.

High Street pins hopes on biggest Christmas bonanza since credit crunch as shoppers spend £2billion

All wrapped up: Shoppers brave the rain in Manchester to get their shopping done with just a week to go

London's Oxford Street was jam-packed with people while almost a quarter of a million headed to Bluewater in Kent and 340,000 to Birmingham's Bullring Centre.

Clegg swipe at Cameron with call to cut TV licences and winter fuel payments for richest OAPs

Deputy Prime Minister Nick Clegg: 'The Liberal Democrats are now the party of welfare reform - sensible, centre ground welfare reform'

Wealthy pensioners should be stripped of benefits such as the winter fuel allowance and free TV licences in order to help the country to balance the books

State-backed Royal Bank of Scotland facing £350million fine for its part in Libor-fixing scandal

Stephen Hester, RBS CEO: Had hoped to settle before Christmas, but that looks unlikely

The bank is said to be nearing a deal with regulators here and in the US over the fact some of its staff were involved in the rate's manipulation.

Energy firms to raise bills by £12 a year to pay for improvements amid warning that 300,000 homes risk fuel poverty

Bills: New government reforms are set to push up gas and electricity costs even higher over the next five years

End of the squeeze? Inflation predicted to fall this week despite higher energy bills

Crowds of shoppers pack Northumberland Street in Newcastle on Saturday

The consumer price index (CPI) is predicted by analysts to have fallen to 2.6 per cent in November, from 2.7 per cent in October, when figures from the Office for National Statistics (ONS) are published.

House prices across the country ‘will rise in 2013 thanks to increased mortgage competition and shortage of homes’

The housing market across the country is expected to bounce back next year, according to new research

Increased competition among mortgage lenders and a shortage of homes is expected to drive a 2 per cent rise in asking prices next year, a new report suggests.

Signs that City is heeding the 'shareholder spring' as wage rises slow... but remain above what the rest of us can hope for

Cutbacks in the City: Banks are facing pressure from the FSA on staff pay

The average wage in the City showed an average increase of just 2 per cent, from £83,000 last year to £84,438.

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FTSE CLOSE: Markets lag over fiscal cliff uncertainty; share slide for London 2012 contractor

Trading week before Christmas: Traders react to early market moves on the London Stock Exchange

European markets lagged behind Wall Street today as speculation over America's talks on the looming fiscal cliff continued to drive sentiment. London's FTSE 100 Index closed 9.6 points down at 5912.1. The biggest faller was temporary power provider Aggreko, which warned that its 2013 performance was likely to be slightly lower than this year as it struggles to fill the void left by its £59m Olympics contract, but there was better performances by British retailers boosted by decent Christmas spending.

'We paid £180,000 for our house and now it is priced at £115,000': The two million who can't sell or move on

Desperate: Danielle and Michael Winter feel they are caught up in a nightmare situation with no solution

The ‘mortgage prisoner’ problem arose during the financial crisis because house prices fell and, at the same time, lenders withdrew from all but the safest loans. Now new trends are emerging that threaten to make the problem worse. Danielle and Michael Winter feel they are caught up in a nightmare situation.

Homeowners face massive tax bills as councils are given go-ahead to scrap discounts on second properties

Facing massive bills: Hundreds of thousands of holiday homeowners are expected to lose discounts ranging from ten per cent to 50 per cent next spring

Hundreds of thousands of holiday homeowners are expected to lose discounts ranging from ten per cent to 50 per cent next spring.

Millions of voters' personal details are being sold to junk mail companies by councils

Councils selling off voters' personal details from the electoral roll has caused households to be bombarded with an avalanche of junk mail

New figures show local authorities have made £3 million in the past five years by selling information from the electoral roll to various organisations for marketing and mailing purposes.

Anger at Boris Johnson as he defends Starbucks' £20m corporation tax offer

Inflammatory comments: Boris Johnson yesterday applauded Starbucks decision to pay £20m in tax and said it showed 'good corporate citizenship'

The inflammatory comments infuriated campaigners and come amid fresh revelations that Britain’s biggest broadband and cable firms have exploited a Luxemburg loophole to avoid £80million in tax.

'You have a tax rebate': No you don't - it's an email phishing scam by fraudsters pretending to be HMRC

Rebates scam: The emails offer a generous rebate and encourage recipients to click on the 'claim my refund' link

Unsuspecting taxpayers tempted to think that they have landed an unexpected Christmas present thanks to a tax rebate have been warned that they could fall victim to a sophisticated scam. .

Up to 80% off in High Street sales frenzy - but forget January bargains as stores aim to shift ALL their surplus stock by Friday

Gap has had two weeks of between 40 per cent and 60 per cent off everything

High Street bosses want to empty shelves by Friday, leaving as little as possible for the January sales they fear may only last a matter of days, Financial Mail has learnt. Over the past few days French Connection has increased its offer to up to 70 per cent off and H&M has launched its ‘winter sale’ with cuts of up to 50 per cent.

Beat high post charges: The trick to sending Christmas presents that could save you a packet

As reliable as santa? There are several firms that can still get your Christmas presents to their destination in time for the 25th - even if it's on the other side of the world

Before heading off instinctively to the Post Office there are a few websites worth checking that could save up to 75 per cent.

Shoppers are profiting as loyalty points make prizes and more than a third of items are discounted

Popular: Boots' loyalty card offers cashback of four per cent

The discounting phenomenon, which has surged during the recession, means Britons can save hundreds of pounds when paying for gifts and Christmas celebrations.

'Income from my drawdown plan has dropped by £100 a week': When will pensioners benefit from U-turn?

Cutbacks: Stan Heather with his grandsons Archie, left, and Thomas

Pensioners who have been told the limit on the income they can take from their private pension will soon be lifted remain in the dark over when changes will be made. Stan Heather says the boost to income drawdown plans announced by the Government cannot come soon enough.

Festive cheer for John Lewis as it posts record sales

Sales record: A shopper looking at glittery shoes at John Lewis

Bundesbank blasts EU banking union as project lacks a 'sustainably sound legal basis'

Concerns: Lawyers working for the Bundesbank believe the project of an EU banking union lacks a 'sustainably sound legal basis'

Germany's central bank has raised serious concerns about the legal framework for creating a banking union in Europe.

Osborne faces black hole in UK accounts as auction of 4G could fall short by billions

Controversial: George Osborne has already begun spending the proceeds from the auction of 4G even though not a penny has yet been raised

The auction of the fourth-generation radio spectrum may raise little more than one third of the £3.5billion he predicted.

Financial Conduct Authority to crack down on debt-collection agencies

Crackdown: Debt collectors will face more intrusive and expensive regulation

The 500 or so firms that either chase debt on behalf of lenders or buy distressed debt seem certain to come under the remit of the new Financial Conduct Authority.

Millionaire pockets a slice of Salvation Army profit share deal

Golden deal: Nigel Hanger gets cash for the first three years

Nigel Hanger, the millionaire horseracing founder of Kettering Textiles, who sold the clothing recycling firm to the Salvation Army, is still reaping huge rewards.

'The public love our spats': Virgin boss laughs off BA chief Walsh's 'knee in the groin' bet with Branson

Fierce rival: Virgin Atlantic's Steve Ridgway relishes the fight with BA

Having just signed a deal to sell nearly half of Virgin Atlantic where he is chief executive to America's Delta Air Lines, he is confident the airline is in rude health. Ridgway says the deal will put huge pressure on Virgin's old rival BA, the market leader in transatlantic routes.

ANDREW SENTANCE : Inflation target is no obstacle to growth and moving the interest rate goalposts is risky

Andrew Sentance: 'UK economic growth depends ultimately on how competitive and business-friendly our economy is'

Andrew Sentance, who served on the Bank of England's Monetary Policy Committee, argues that a shift away from setting rates to target inflation would be risky.

JEFF PRESTRIDGE: Banning different prices for men and women mean securing best cover is more vital than ever

jeff prestridge

What is important now is that consumers ensure they find the best deals from Friday onward, when new EU rules will see insurers forced to charge men and women the same price for the same cover.

LISA BUCKINGHAM: Bank of England handover delay and row fails both King and country

 LISA BUCKINGHAM

With the economy about to turn negative for the final quarter of the year a firm hand is needed on the tiller of our central bank.

DAN ATKINSON: We haven't really targeted inflation for three years, so what should we aim interest rates at?

Dan Atkinson

Despite all the world's troubles, sterling's value has stayed remarkably steady in the past year, edging between about $1.53 and $1.63 and 1.18 euros and 1.29 euros. Should we fix again?

'We came back from an Indian idyll to burst pipe chaos - but our insurers were truly brilliant': How to guard against a disaster

Devastated: Ann Reeve and Peter Gould in their kitchen, now refurbished

There is often a surge in insurance claims for burst pipe damage as people leave their homes empty while they are away over the festive period. But Ann and Peter's insurer paid out about £70,000 for their claim after a pipe burst in an upstairs shower room of the couple’s detached home in West Row.

'I was left with nothing after my divorce': Why even happy couples should keep assets in their own names

Pension blow: Christine Cain was left with virtually nothing after her divorce

Divorce is leaving hundreds of thousands of women facing an uncertain financial future. Not having assets in her own name cost Christine Cain dear after her divorce.

I have just started uni and am finding it hard to budget - how do I avoid going to the Bank of Mum and Dad?

Help!: How can I save money as a student without missing out on going out?

I started university last month and am finding it difficult to adjust to working within a limited financial budget – please don’t tell mum! Do your experts have any tips on how to save money without missing out on student life?

MIDAS SHARE TIPS: Ambitious refinery engineer Kentz Corporation bids for £8bn in contracts

Expertise: Kentz builds liquefied natural gas facilities

Engineering and construction group Kentz Corporation is firing on all cylinders and last month said it would grow by at least 10 per cent in 2013. Yet the company’s shares have fallen 20 per cent to 3933⁄4p this year, tarnished by association with less fortunate peers, such as Lamprell and Cape.

Scottish Investment Trust: A 29th year in a row of rising dividends for long-running cautious income-payer

Reliable payer: Scottish Investment Trust has delivered 29 years of rising dividends and a 13% share price rise.

The trust is conservatively managed, with a portfolio spread quite evenly across 105 stocks but skewed towards North America.

INVESTMENT EXTRA: Is the gold standard set to slip? Even after its price fell this week, the precious metal is still a top commodity

A strong contender: An array of factors influence the price of such a scarce and valuable commodity as gold

The real-life value of gold has barely changed in over a thousand years. But on Thursday its price tumbled. A drop of more than $23 an ounce drop was a fall of 1.4 per cent in just 24 hours. So has gold lost its glister?

ASK THE EXPERTS: Can creditor offset the PPI payout due to me against my debt to it?

Ask an Expert: Readers questions answered by our panel

I am in a formal arrangement with several creditors over a series of loans, paying off a part-share of each. One lender has offered a £2,000 settlement for mis-selling PPI on its loan, but it wants to offset this against my debt. Can I force it to pay me direct so the cash can be shared pro-rata between all creditors?

TONY HETHERINGTON: Widow's savings stolen by Ukash voucher crooks

Tony Hetherington

Business Alliance Limited was tracing money for me that I paid to companies that were supposed to help sell my unwanted timeshare. Once found, it would be refunded, with compensation.

If I sacrifice £5,000 of my salary into my pension can I halve the tax I normally pay on my buy-to-let income?

tax return

I currently have a salary of approx £42,000, just on the threshold for 40% tax. I also have about £5,000 of taxable income from a rental property, if I reduce my salary by £5,000, how much tax will I save?

Is it worth buy-to-let landlords insuring against tenants not paying the rent?

Rent dodgers: Landlord insurance policies don't always cover unpaid rent

With the number of tenants in 'severe' arrears growing, rent guarantee insurance claims to make sure landlords get paid, even when the tenant defaults. Is it worth it?

My husband died before he could claim his state pension, am I entitled to some of it?

Pension problem: My husband died before he could claim his state pension, am I eligible to receive a portion of it?

My husband passed away this year at the age of 64, before he could claim his state pension. I have just started collecting my own state pension, but am I entitled to receive a portion of his?

'I was made redundant twice in three years, now I profit selling food favourites to expats'

Taste of home: Michael and Clare Cook, with Sophie, William and Charlotte supply British expats

A stagnant jobs market, redundancy, and a hunger to take control of their future are prompting more people to work for themselves. Michael Cook decided to work for himself last August after being made redundant twice in three years.

Felt goods from Nepal help Adele give up sofa surfing as John Lewis sells Christmas range

Sparkle: Adele Zara Collinson¿s felt decorations are a hit

In 2009 Adele Zara Collinson launched Felt So Good and could not afford rent - now she expects turnover of £300,000. After 18 months of going to trade fairs Adele was spotted by the John Lewis chain.

Vince Cable pledges £55m funding via alternative lending route

Lending boost: Business Secretary Vince Cable

The money is being advanced to peer-to-peer lenders and other financial providers, which will then have to lend it to small and medium-sized firms.

How can I help female employees progress at more senior levels?

Pay gap: Research shows a persistent gap of more than £400,000 over a career

In the new company I’ve joined, men at more senior levels outnumber women significantly. How can I help female employees progress?

Long-term planning is the key to a rich future for chocolatier couple

Think big: A plan lets chocolatiers William and Suzue Curley diversity

Too many business owners are taking a short-term approach, experts warn; for William Curley, planning ahead is essential, especially when managing elevated Christmas demand for chocolate

300,000 new entrepreneurs needed to restore the economy to its pre-recession peak, study says

Driving force: At present SMEs contribute 52 per cent of private sector 'gross value added' to the UK economy

At present SMEs contribute 52 per cent of private sector ‘gross value added’ to the UK economy.

How to get a £95 seat for Spice Girls' musical for less than half price

Mixed reviews: The Spice Girls arriving for the press night of Viva Forever at the Piccadilly Theatre in London

Theatregoers who are patient, plan ahead, turn up at the door or track down an official discount may soon get to see the show for half price or less. The run-up to Christmas is traditionally a great time to bag a bargain for theatre lovers looking to see a show in the New Year, when audience levels always drop off.

EXCLUSIVE: Google crackdown on payday lenders - websites must follow new rules or see their ads banned

Click: Google has issued new rules to pay day lenders and is set to ban them from advertising on the search engine if they don't comply

Google will crack down on payday lenders by imposing strict rules on the information they must display on their websites and threatening to ban them from advertising through the search engine if they don't comply, This is Money can exclusively reveal.

Should you stake your pension on house prices? Property funds tempt investors, but experts warn of risks

Housing gamble: Industry experts are skeptical that resident property funds will provide a decent return given the current state of the housing market.

Castle Trust claims that 63 per cent of financial advisers believe access to residential property investment would help investors with pension planning. But is it a good idea?

Premium Bonds winners

December 2012
Prize value Winning bond No. Area
£1,000,000 90GM135935 Bedfordshire
£100,000 141GA754129 Northern Ireland
£100,000 183AM191540 Derbyshire
£100,000 175LJ952414 Grampian
£100,000 123LA629254 Norfolk
£100,000 90CS186047 West Yorkshire
£50,000 114PW077705 London
£50,000 32RL699242 Inner London
£50,000 137YX135681 Warwickshire
£50,000 40YK759809 Leicester
£50,000 115FC086870 Wiltshire
£50,000 4DV901566 Cornwall and Isles of Scilly
£50,000 66FV746591 Surrey
£50,000 17RP987409 Barnet
£50,000 167EA764626 Nottingham
More Premium Bonds winners

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Updated 17 Dec 2012.
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