Financial news

• Expert warns 'cost-of-living crisis is driving a coach and horses through retirement’

  16-06-2023 23:05 via express.co.uk
  
  People are no longer retiring and continuing to work - figures show 1.075 million people under 65 are retired, down from 1.196 million nine months ago.
  
  Read more

• Mortgage payers warned as 13th interest rate rise in a row is on the way

  16-06-2023 23:01 via express.co.uk
  
  Analysts expect interest rates to increase from 0.25 percent to 4.75 percent on Thursday, hitting mortgage payers the most.
  
  Read more

• UK government urged to help mortgage holders as rates keep rising; company insolvencies jump 40% – as it happened

  16-06-2023 16:51
  
  Lib Dems call for emergency mortgage protection fund, as new data shows two-year fixed rate mortgage has jumped to 5.98% and confidence in Bank of England fallsWhat steps could government take to help mortgage borrowers?Average mortgage rate for two-year fixed deal edges closer to 6%If mortgage rates do hit 6% thent homeowners will be spending 23.6% of their incomes on mortgage repayments, the most since 1991, Neal Hudson, a property market analyst at BuiltPlace, has calculated (via The Times).H
  
  Read more

• Victims speak out over ‘tsunami’ of fraud on Instagram, Facebook and WhatsApp

  16-06-2023 15:00
  
  Exclusive: Calls for Meta to curb rise in scams on its platforms, which will cost UK households £250m this yearMental anguish’: how a crypto scam advertised on Facebook cost victim her life savings‘I felt stupid and embarrassed’: victim of ‘Hi Mum’ fraud on WhatsApp lost £1,600Instagram scam: ‘I spent £1,200 on clothes for my son that never arrived’The social media giant Meta is facing growing pressure from MPs, consumer groups and the
  
  Read more

• Advertisement

• Vodafone and Three merging would be a disaster – not least for your bills | Nicholas Shaxson

  16-06-2023 14:31
  
  For customers’ mobile costs to come down, we need more telecoms providers, not fewer. It’s time to break up the big fourNicholas Shaxson is a cofounder of the Balanced Economy Project, an anti-monopoly organisationHold on to your wallets. Vodafone and Three, two of the UK’s biggest mobile telecoms firms, want to merge – and they are making some odd claims in their PR blitz about why they should be allowed to. Make no mistake, this is a classic monopolisation play that wil
  
  Read more

• Tesco boss: food inflation has probably peaked but prices will stay high

  16-06-2023 12:08
  
  Ken Murphy says higher costs of grocery imports because of Brexit are partly to blame for rising prices The chief executive of Tesco has said food inflation has probably peaked but that prices are likely to stay high.Ken Murphy, the head of the UK’s biggest supermarket chain, said the price of milk, bread, cooking oil and some vegetables such as broccoli had come down this month but inflation continued in other essentials, including rice and potatoes, as weather issues and locked-in increa
  
  Read more

• Student loan debt in England surpasses £200bn for first time

  16-06-2023 08:00
  
  Graduates now owe an average amount of £45,000, Student Loans Company figures have revealedOutstanding student loans in England have surpassed £200bn for the first time – 20 years earlier than previous government forecasts, as the number of students at universities continues to outstrip expectations.The Student Loans Company (SLC), which administers tuition and maintenance loans in England, said that the balance of government-backed loans reached £205bn in the current aca
  
  Read more

• ‘I live in fear of debt collectors’: disabled people tell of toll of soaring UK care costs

  16-06-2023 08:00
  
  Readers explain how they are being forced to give up essential social care or forgo meals and sanitary products Disabled people in England are finding themselves in severe financial hardship owing to rising social care costs and the increase in the cost of living.Social care, unlike the NHS, is not free at the point of need. As disabled people are being forced to pay for their care out of their benefits, some are finding themselves thousands of pounds in arrears to councils. Others are having to
  
  Read more

• Advertisement

• Homes for sale with grand designs – in pictures

  16-06-2023 08:00
  
  From the twisting white towers at Battersea power station to two joined-up farm buildings deep in the countryside Continue reading...
  
  Read more

• What steps could government take to help mortgage borrowers?

  16-06-2023 07:00
  
  As interest rates rise, cash-strapped households need speedy solutions to meet monthly paymentsAs rising interest rates put a squeeze on millions of mortgage borrowers there have been calls for the government to intervene. But what could it do to help cash-strapped households? Continue reading...
  
  Read more

• UK government urged to outline plans to help with winter energy bills

  16-06-2023 01:01
  
  Report by cross-party MPs criticises previous ‘lack of urgency in addressing market failures’MPs have urged the government to set out its plans to protect households from high energy bills this winter as they said about 1.7 million people, including some of the most vulnerable groups, had been left waiting too long to receive previous support.The public accounts committee (PAC) said that although schemes were introduced quickly, the government “did not have the bandwidth”
  
  Read more

Follow @financialnwsUK on Twitter!