Mortgages: University debt hits first time buyers

New research has shown just how hard graduate, first time buyers, are hit by the debts built up during their years at university. New figures from the Royal Bank of Scotland (RBS), have shown that not only will first time buyers with student debt, find it harder to save for a deposit,  the loans will also impact on the size of mortgage they can afford to repay. Harder to save for a house deposit The figures from RBS show that student loan repayments will eat up 7% of the disposable income available to a graduate first time buyer, after essential bills are paid....

Pensions: 68% of workers unaware of auto enrolment

Around 10 million workers will be automatically enrolled into a work place pension scheme in October of this year, but a new survey has found that the majority of people are not aware of the imminent changes. The government’s auto enrolment program start’s in October and will see employees of larger firms be the first to be automatically enrolled into a work place pension. However, a survey from the pension provider Aviva, found that 68% of workers were unclear about the changes. Auto enrolment...

Deloitte warns UK households could experience £780 drop in disposable income in 2011

Financial services firm Deloitte has warned that UK households could face a drop of nearly £800 in disposable income over the next 12 months. A report by the firm says that the average household in the country could experience a drop of £780 this year and warns disposable incomes may not return to their 2009 peak until 2015. Government cuts, rising inflation and soaring commodity prices are believed to be the main factors behind the grim prediction.