Savings: FSCS calms fears in the UK after Cyprus bailout

FSCS calms fears in the UK after Cyprus bailoutA levy to be forced on savers in Cyprus, as part of the EU bailout of the country, has caused alarm amongst savers throughout Europe. However, in the UK at least, moves have been made to reassure savers that their savings accounts will not be raided in the same way. Savings levy The EU has agreed to a 10 billion Euro bailout of the Cypriot economy, but as part of the measures all bank ...

Retirement: Annuity rates in record fall, again!

Any would-be retirees hoping for a break from falling Annuity rates will need to think again following the publication of a new report which shows record breaking falls in Annuity rates. The Moneyfacts Treasury Report: Personal Pension and Annuity Trends makes depressing reading for anyone approaching retirement, although people who bought an Annuity earlier in the year may well feel vindicated by their decision not to delay. According to the report, Annuity rates are heading for their biggest fall in a single year since 2002, having dropped by 8.6% for a male aged 65, since the start of the year. The ...

Housing & mortgage round up: An end to mortgage redemption penalties? Whilst house sales and mortgage lending both drop sharply

Housing & mortgage round upA wide range of stories this week, from the EU voting to ban mortgage redemption penalties, to more confirmation of the stagnant housing market. EU to ban mortgage repayment penalties? Members of the European Parliament have voted to ban early repayment penalties on most mortgage products. However it isn’t all good news for mortgage borrowers, despite the vote to ban redemption penalties it seems as though lenders will still be able to receive ...

Retirement: Why Greece could prove another slippery slope for your pensions

For many of us the Bank Holiday weekend was a chance to relax, take things easy and consider how best to amuse ourselves in this great British weather of ours. But for voters in Greece and France it was an opportunity to elect a change of government, one which for people in the UK planning on retiring soon, could have significant implications. So how do the decisions of Greek and French voters, to elect anti austerity parties, affect your pension if your are planning to retire soon we hear you ask. Volatile stock market...