A typical portfolio of a mortgage, current account, savings product, loan and credit card could incur as many as 110 penalty charges, Moneysupermarket has found. Stuart Glendinning, managing director at the website said that it was “unbelievable” that there were…

Friends 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:…

Bev 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…

Over 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…

According 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…

According 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…

Figures 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…

The bank’s monetary policy committee (MPC) voted to keep the base rate at 4.5 per cent rather than raising it as feared, which would have increased the amount people would repay on loans. Last month Bank of England governor Mervyn…