Money Saving News for November 2008
- PBR measures welcome for businesses, says Lloyds TSB - 25th November, 2008
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One of the UK's leading high street banks has welcomed the measures aimed at helping small businesses that the chancellor unveiled in yesterday's pre-Budget report (PBR).
Lloyds TSB said small and medium-sized enterprises (SMEs) would particularly benefit from the government's new export credit guarantee scheme.
The bank claimed its lending to small businesses had continued to grow, despite the credit crunch, and it would work closely with the government to help stabilise SMEs in the future... - PBR pension measures welcome says LV= - 25th November, 2008
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Pensions provider LV= has welcomed the measures aimed at easing pensioner's financial burden that Alistair Darling laid out in yesterday's pre-Budget report (PBR).
The measures include a one-off £60 payment after Christmas - effectively bringing forward the increase in the basic state pension by three months - which will be a great help to older people struggling with the high costs of fuel this winter, LV= said... - Quality of life 'is best in Elmbridge' - 24th November, 2008
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A survey has revealed that residents of Elmbridge, in Surrey, have the best quality of life in the UK.
The survey, which takes financial factors such as house prices and average salary expectations into consideration as well as life expectancy and education, was conducted by the mortgage provider Halifax.
According to the study, which looked at local authorities across the country, residents of Elmbridge earn £1,048 per week on average, as well as living in larger than average houses and having children who score better than average GCSE results.
Martin Ellis, chief economist at Halifax, said that living in Elmbridge comes at a price, as property prices in the area are more than £170,000 above the average for the south-east... - Pensioners 'struggling with debt' - 24th November, 2008
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A study published today reveals that many pensioners will have to battle with debt in their retirement, thanks to the credit crunch.
The survey, conducted by pensions provider Just Retirement shows that 24 per cent of people approaching retirement age are in debt and 46 per cent are worried about whether the amount they have in savings accounts and pension funds will be enough to provide for them in their old age.
Nigel Barlow, head of retirement solutions at Just Retirement, said as pensioners' disposable income falls, many are looking at taking on part-time jobs after they retire.
He added: "However, with unemployment figures estimated to reach two million by December, it is possible that pensioners will find it harder than ever to find work."
Mr Barlow advised those approaching retirement age to be careful with their choice of pension package... - Retirement uncertainty hits over-55s - 24th November, 2008
A recent survey has revealed that nearly half of Britons approaching retirement age are unsure about their financial situation.
... - HSBC will cut standard mortgage rate - 21st November, 2008
HSBC has announced cuts in the standard rate of interest on its mortgages, as well as a range of other packages which it claims could help cash-strapped customers through the credit crunch....
- Credit crunch pushes older people to emigrate - 21st November, 2008
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Research released today by RIAS shows that many Brits nearing pension age are considering living out their retirement overseas, because of concerns about the economic downturn.
RIAS, which specialises in cheap insurance for older people, found that 400,000 over-50s are already planning their life elsewhere.
A further one in ten of those polled said they were 'seriously considering' leaving the country in search of more welcoming economic climes... - Shoppers not cutting back on Christmas - 21st November, 2008
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A survey released today shows that nearly three-quarters of people in the UK will spend the same amount as last year or more on their Christmas presents this winter.
The research, conducted by Direct Line Home Insurance, showed that 16 per cent of UK adults will spend more money than last year, while 58 per cent are planning on spending the same amount... - Lloyds shareholders approve HBOS takeover - 20th November, 2008
Lloyds shareholders approve HBOS takeover
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Lloyds TSB shareholders have voted in favour of the proposed acquisition of HBOS, a move which paves the way for the creation of a 'super-bank' that may free up the flow of mortgages and cheap loans once more.
The resolution on the takeover, which the government helped to negotiate earlier this year, was passed with a significant majority... - Abbey offers "post-Christmas bonus" - 20th November, 2008
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Abbey has announced that it will offer a "post-Christmas bonus" to customers who switch their current accounts.
The offer, which will see customers getting £100 in cash deposited directly into their new Abbey account, is only valid if customers make three deposits of £1,000 or more in the first six months...