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.
Energy firms to raise bills by £12 a year to pay for improvements amid warning that 300,000 homes risk fuel poverty
Improvements to gas and electricity networks are set to push up energy bills by an average of £12 annually over the next eight years. Energy bills are set to rise by an average of £8.50 in 2013/14, £7.30 the following year and soaring to as high as £15.10 in 2020/21. ...read
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- TONY HETHERINGTON: Widow's savings stolen by Ukash voucher crooks
- '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
- 'We came back from an Indian idyll to burst pipe chaos - but our insurers were truly brilliant': How to guard against a disaster
- Dusty owl painting found in attic fetches £590,000 Pre-Raphaelite artwork unearthed among household junk is auctioned by Christie's
- Phone 'airbag' that would mean you never break another mobile Motion sensors in the phone activate the system when it is dropped
- JEFF PRESTRIDGE: Get ready for new EU rules forcing insurers to charge men and women same price for same cover
- Sunday newspaper share tips: John Wood Group and Kentz Corporation
- Made in Britain Awards: Ex-Dragons’ Den star James Caan will be at Financial Mail’s ceremony Vote now for People's Choice award
- Last order dates for Christmas How to make sure that your presents arrive on time
- Can I halve my buy-to-let tax with a pension recycling trick? I'm on the 40% tax threshold and have £5k of buy-to-let income
COUNTDOWN TO CHRISTMAS
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CITY & BUSINESS
FTSE CLOSE: Markets lag over fiscal cliff uncertainty; share slide for London 2012 contractor
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.
Latest from Markets
- Millionaire pockets a slice of Salvation Army profit share deal
- FTSE CLOSE: Markets lag over fiscal cliff uncertainty; share slide for London 2012 contractor
- Aggreko sees slump in 2013 revenue as its second profit warning makes an impact
- Sales soar at Sam Cam’s firm with strong pre-tax profits at over £2million
- Festive cheer for John Lewis as it posts record sales
- Scandal-hit firm Trafigura eyeing London Stock Exchange float
- Shirtmaker TM Lewin boosts sales by 6% as it refinances the business
- Hewlett-Packard to detail allegations against Autonomy
30 SEC GUIDES
INFLATION TARGETING‘We explain the policy pursued by central banks to manage the economy’
VIEWS, TIPS & SPECIAL REPORTS
- DAN ATKINSON: Being strict on sterling will cause trouble Despite all the world’s troubles, sterling’s value has stayed remarkably steady in the past year
- INTERVIEW: Virgin boss Steve Ridgway on Delta deal and why the public love their spats He is confident the airline is in rude health
- MIDAS SHARE TIPS: Kentz Corporation bids for £8bn in contracts Engineering and construction group Kentz Corporation is firing on all cylinders
- LISA BUCKINGHAM: Handover row fails both King and country A firm hand is needed on the tiller of our central bank
MONEY NEWS & ADVICE
'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
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.
Up to 80% off in High Street sales frenzy - but forget January bargains as stores aim to shift ALL their surplus stock by Friday
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.
COUNTDOWN TO CHRISTMAS
'Income from my drawdown plan has dropped by £100 a week': When will pensioners benefit from U-turn?
MORE BUSINESS, CITY AND ECONOMY NEWS
Festive cheer for John Lewis as it posts record sales
The 148-year-old retailer notched up sales of £147.8million, up 11.1 per cent on the same week last year and topping the previous week’s record. Many revellers have been opting for the formal look for the party season, with women snapping up long lace dresses and men opting for three-piece suits. ...read
'The public love our spats': Virgin boss laughs off BA chief Walsh's 'knee in the groin' bet with Branson
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.
YOUR MONEY ESSENTIALS
MIDAS SHARE TIPS: Ambitious refinery engineer Kentz Corporation bids for £8bn in contracts
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.
CHECK YOUR INVESTMENTS
ASK THE EXPERTS: Can creditor offset the PPI payout due to me against my debt to it?
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?
BE YOUR OWN BOSS: SMALL BUSINESS SUCCESSES
Felt goods from Nepal help Adele give up sofa surfing as John Lewis sells Christmas range
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.
How to get a £95 seat for Spice Girls' musical for less than half price
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.
Premium Bonds winners
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 |
Latest reports from News
- End of the squeeze? Inflation predicted to fall this week despite higher energy bills
- 'I was made redundant twice in three years, now I profit selling food favourites to expats'
- Long-term planning is the key to a rich future for chocolatier couple
- Clegg swipe at Cameron with call to cut TV licences and winter fuel payments for richest OAPs
- ANDREW SENTANCE : Inflation target is no obstacle to growth and moving the interest rate goalposts is risky
- JEFF PRESTRIDGE: Banning different prices for men and women mean securing best cover is more vital than ever
- LISA BUCKINGHAM: Bank of England handover delay and row fails both King and country
- DAN ATKINSON: We haven't really targeted inflation for three years, so what should we aim interest rates at?
- Shoppers are profiting as loyalty points make prizes and more than a third of items are discounted
- State-backed Royal Bank of Scotland facing £350million fine for its part in Libor-fixing scandal
- Signs that City is heeding the 'shareholder spring' as wage rises slow... but remain above what the rest of us can hope for
- Felt goods from Nepal help Adele give up sofa surfing as John Lewis sells Christmas range
- Bundesbank blasts EU banking union as project lacks a 'sustainably sound legal basis'
- Anger at Boris Johnson as he defends Starbucks' £20m corporation tax offer
ANSWERS FROM THE Experts
- ASK THE EXPERT: Can I trace a Safeway's pension dating back to the Seventies?
- ASK THE EXPERTS: Can creditor offset the PPI payout due to me against my debt to it?
- I have just started uni and am finding it hard to budget - how do I avoid going to the Bank of Mum and Dad?
- 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?
- TONY HETHERINGTON: Widow's savings stolen by Ukash voucher crooks
- Money Morals: Should I pay to repair our ten-year-old washing machine or should I just buy a new one?
- My pension firm won't pay out my small fund because I own other benefits: What are my options?
- My husband died before he could claim his state pension, am I entitled to some of it?
- ASK TONY: Why didn't Amazon listen when I lost £125 on its website?
- How much does it cost to charge an electric car and how many times a week would I need to do it?
Latest from Investing
- Scottish Investment Trust: A 29th year in a row of rising dividends for long-running cautious income-payer
- MIDAS UPDATE: Central Asia Metals issues special dividend
- Sunday newspaper share tips: John Wood Group and Kentz Corporation
- MIDAS SHARE TIPS: Ambitious refinery engineer Kentz Corporation bids for £8bn in contracts
- INVESTMENT EXTRA: Is the gold standard set to slip? Even after its price fell this week, the precious metal is still a top commodity
- Cazenove: How smaller funds are still reaping returns
- Five questions you need to ask your financial adviser ahead of the big RDR investment and pensions shake-up
- Sunday newspaper share tips: Bioquell | Anite | Falkland Oil & Gas
- Is a gold cliff looming? Will US fiscal cliff crisis send gold to new record high or will it take a tumble?
Latest: Mortgages & home
- Quarter of first-time buyers believe it will take them at least a decade to save a deposit
- Bank of Mum and Dad props up housing market to the tune of £1.3bn, as first-time buyers struggle to get onto ladder
- '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
- Second home owners soon to be hammered by council tax rises
- Property market gets a mortgage boost but struggles for direction: What next for house prices?
- Home sales expected to rise in 2013 but rents are set to soar too as charity warns of rising eviction attempts
- Ten tips for buy-to-let: the essential advice for property investors
- Is it worth buy-to-let landlords insuring against tenants not paying the rent?
- SHUT UP! House price threat from reality TV shows like TOWIE and Made in Chelsea that 'turn off house hunters'
Currency | Rate | Buy now |
---|---|---|
Updated 17 Dec 2012. | ||
Euro | 1.2066 | Buy Now |
US Dollar | 1.5877 | Buy Now |
Australian Dollar | 1.4889 | Buy Now |
Canadian Dollar | 1.5547 | Buy Now |
Chinese Yuan | 9.6884 | Buy Now |
Croatian Kuna | 8.9498 | Buy Now |
Czech Koruna | 29.901 | Buy Now |
Danish Kroner | 8.8636 | Buy Now |
Egyptian Pound | 9.4308 | Buy Now |
Euro | 1.2066 | Buy Now |
Hong Kong Dollar | 12.181 | Buy Now |
Hungarian Forint | 333.89 | Buy Now |
Japanese Yen | 132.84 | Buy Now |
Malaysian Ringgit | 4.7495 | Buy Now |
New Turkish Lire | 2.7778 | Buy Now |
New Zealand Dollar | 1.8733 | Buy Now |
Norwegian Kroner | 8.7866 | Buy Now |
Polish Zloty | 4.8143 | Buy Now |
Singapore Dollar | 1.9167 | Buy Now |
South African Rand | 13.533 | Buy Now |
Sterling | 1.0 | Buy Now |
Swedish Kroner | 10.431 | Buy Now |
Swiss Franc | 1.4507 | Buy Now |
Thai Baht | 47.334 | Buy Now |
UAE Dirham | 5.7826 | Buy Now |
Latest from Saving & banking
- Savers advised to move to top-paying accounts as Isa tax break sees interest rise by just £1.05 a year
- New law puts pressure on banks to keep branches open
- Cash-strapped Britain puts a little more aside, as savings increase to an average of £90 a month
- Lend-to-save at a 'watershed moment' as the industry is set to be regulated - but it's unlikely to get savings-style protection
- The pocket money cash card for 8-year-olds loaded with hidden fees
- 'Told we owed £26k even though bank knew it was previous owner's loan': Victory for couple threatened with losing their narrowboat home
- Fixed bonds plunge to new record low, we reveal the best of the rates left
- NS&I bars auntie from opening child bonds after rules were quietly changed for all Children's Bonds
- No more excuses: Rule change to get banks offering accounts to bankrupts to help them back onto their feet
- 'I was branded a criminal by my own bank after being talked into opening six accounts': How you could be blacklisted as a fraudster
LATEST ON HOUSEHOLD Bills
- Energy firms to raise bills by £12 each year to pay for improvements amid warning 300,000 homes risk fuel poverty
- Last order dates for Christmas: How to make sure that your presents arrive on time
- 'We came back from an Indian idyll to burst pipe chaos - but our insurers were truly brilliant': How to guard against a disaster
- Beat high post charges: The trick to sending Christmas presents that could save you a packet
- A new era of cheaper gas? 'Fracking' given green light after government agrees rules to reduce earthquake risk
- Regional roulette: Why thousands of E.ON customers bills will go up TWICE as much as others because of where they live
- O2 hikes monthly mobile contracts by 3.2% for 7million customers - and you'll have to PAY to leave early
- Main reason for dipping into savings is to pay for household bills as energy suppliers slap customers with winter price increases
- Npower voted the worst gas and electricity firm for service - but more people happy with their supplier despite rising bills
- Energy bills: Is it worth switching and which are the best deals?
Latest: money and Cars
- Car insurance for women up 15% ahead of new EU gender rules kicking in next week
- Whiplash injury claims targeted after 60% rise in just four years pushes car insurance premiums £90 higher
- 'I broke down and then got a parking ticket at a motorway service station': The trick to beat private car park fines
- Osborne opens the purse strings for motorists: £1.5 BILLION for road upgrades and fuel duty rise axed
- Watch out for second-hand cars with a watery past
- Only electric cars to beat London's congestion charge from next year if emission proposals are accepted
- Sainsbury's makes latest move in petrol price war as it cuts litre of unleaded by 3p
- Should you buy winter tyres? Could fitting them to your car help beat icy and snowy conditions in Britain?
- Fee shock as female drivers race for cheaper car cover
Latest from Pensions
- 'Income from my drawdown plan has dropped by £100 a week': When will pensioners benefit from U-turn?
- Should you stake your pension on house prices? Property funds tempt investors, but experts warn of risks
- 'I was left with nothing after my divorce': Why even happy couples should keep assets in their own names
- Pension providers likely to play it safe with low-risk investments for auto-enrolled workers
- New earnings trigger will exclude 400,000 workers from auto-enrolment pensions
- The sharks pocketing thousands from your pension: Savers losing millions in secret kickback payments to salesmen
- Pensioners thrown drawdown lifeline may face long wait to rescue battered incomes
- Working for longer, cutting spending and dipping into savings: The life of a pensioner in winter 2012
- Taking a lesson from Last Tango in Halifax could help you dance your way to a better retirement income
- Will pension savers spend less at the shops? Fears raised auto-enrolment will squeeze High Street
- Wealthy savers expected to bolster pension pots prior to new £40k tax relief coming into force
Latest from Cards & loans
- Wonga launches 'buy now, pay later' instant loan option on furniture retailer's online store
- We're no Scrooges: Average adult spends over £20,000 on Christmas over working lives
- EXCLUSIVE: Google crackdown on payday lenders - websites must follow new rules or see their ads banned
- Firms warned about signing unwitting customers up to 'continuous payment traps' by OFT
- MBNA slashes credit card fees on 14-month balance transfer deal
- That's Asda price-y: Supermarket sorry after credit card customers encouraged to withdraw Christmas cash
- MBNA offers 1.25% handling fee on 14-month interest free balance transfer card - but deal expires in three weeks
- MBNA offers its longest ever 0% interest period on balance transfers and overdraft-clearing borrowing through new card
- Loan repayments calculator
FIX YOUR FINANCES
- This is Money's five favourite cash Isas Essential Isa reading kept up-to-date throughout the year
- Should you fix your mortgage? The latest on the best deals and what next for mortgage rates
- How to plan for a richer retirement Whatever your age, there's a plan for you. Follow our decade-by-decade guide
- How to pick the best DIY investing Isa We explain how to decide and pick five of the best (and cheapest) available
- Energy bills: Is it worth switching? What are the best deals and should you fix?
- How to get out of debt Read our ten-step guide to getting back into the black
- Eight simple steps to fix your finances You can find out everything you need to know in 30 seconds
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