News
60 second news round-up: the top money stories of the week
Mortgages
Getting onto the housing ladder at present is no easy task and at the start of the week it was shown that to help, the ‘Bank of Mum and Dad’ will lend their offspring some £5bn to either get them on, or up, the ladder. To further help first time buyers Barclays announced the launch of 100% mortgage, but one which needs to backed by a deposit from friends or family worth 10% of the property’s value. Those who in the middle of their mortgage application meanwhile need to be aware of research that revealed that cases of ID thieves targeting mortgage applications reached a four-year high in the first quarter of the year.
Investment
Since the introduction of the retail distribution review at the start of 2013, research showed that purchases of investment trusts by advisers hit an all time high in 2015. Meanwhile one year on from the Conservative general election win, data from the Share Centre shows the last 12 months have been the most volatile than any other post-election period. However this shouldn’t deter most retail investors after research showed that most consider long-term investing to be staying in the market for between five and 10 years.
Household bills
The week began with the announcement that TalkTalk is to become the first major telcoms provider to stop separating line rental charges on its broadband packages. Motorists however suffered the second consecutive month of price rises at the pumps in April, according to the RAC. However while prices may be rising on the pumps, EDF customers have the chance to save money on their gas and electric after EDF teamed up with MoneySuperMarket to launch what it claims is the chapati dual fuel tariff on the market.
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