With prices rising all over the country, and the UK now out of recession, we could be forgiven for thinking that we’ve made it through the worst. But it seems that first-time buyers are doomed to be shut out of the housing market recovery altogether because of the difficulty in securing the funds to buy a home.

Here, ten experts give their top tips on how individuals can get onto the property ladder: Continue reading "Ten top tips for first time buyers"

The New Year certainly started with a bang, with both commodities and equities registering strong gains. But it was not to last.

Peter Lucas, Investment Strategist at RBC Wealth Management, has put out a note on why equity markets  relinquished their gains (and then some):

1. Tighter Chinese monetary policy: The Chinese economy has bounced back strongly in response to the decisive easing in monetary and fiscal policies instigated in the aftermath of the 2008/9 downturn. Indeed, the annual growth rate is now higher than it was when Lehman Brothers collapsed. But having recovered soonest and sharpest, China was always going to have to tighten policy before everyone else. And so it has proven.

Continue reading "Clouds on the investment horizon"

Finally -  we here on FT Money have received proof that our crusade to encourage you (the great unwashed) to take command of your finances is just and necessary. We will celebrate by downing a glass or two of cheap chianti.

This morning, the Insolvency Service revealed to the FT’s Norma Cohen that the number of people becoming insolvent in this country rose by an eye-watering 25 per cent in the last three months of 2009. This means that the number of bankrupt individuals in England and Wales is now 134,142 or one in every 320 adults. And in the fourth-quarter of last year alone, there were 35,574 individual insolvencies, up 24.9 per cent from the last three months of 2008. Continue reading "The country grows poorer"

So there were no surprises in the Bank of England’s decision to halt quantitative easing and hold the base rate in February. But what did those in the know have to say about it?  It seems that while some questioned whether the policy had worked, others said it had been positive for the UK.

Nick Hopkinson, Director of Property Portfolio Rescue on the possible affect on property:

“The Bank of England has dug a hole for itself by committing to such a vast Quantitative Easing programme and it is about time that the scheme was halted. QE and the artificially low base rate are combining to drive up inflation, creating another asset bubble. The Bank is now faced with the simultaneous need to control inflation and to avoid pulling the rug from beneath the economy as it struggles to recuperate.

“With the future uncertain, financially stretched homeowners coping with the reality of higher taxes and falling household incomes should take action now to ensure they are not at risk of falling into mortgage arrears when the base rate is increased and repayments are pushed up.” Continue reading "A pause to Quantitative Easing"

Can this really be true? Are customers finally voting with their feet and moving banks in search of the best deals?

The latest data from The Co-operative Bank would seem to suggest so. The research reveals a 22 per cent increase in customers switching their current accounts to The Co-operative Bank from other major providers, with a 31 per cent increase in switching activity from the big four banks.

Perhaps the financial crisis was the last straw. Fed up with hemorrhaging money in other areas of their finances customers started to look at their banking providers more closely and the general discontent and distrust finally lead to many customers switching their provider.

But there is still a long way to go before everyone takes action; the average person is much more likely to switch energy providers, move house, or switch mobile phone companies than switch their current account.

What has been your experience of switching banks?

Compulsory annuitisation is such an awful phrase. Most people think it’s an awful concept too. These people include the Tories - and as of yesterday, it’s looking more likely that something might be done about it.

Continue reading "An end to compulsory annuitisation?"

Various eyes - I won’t say all for reasons to be explained - are on Troy Asset Management at the moment, who are doing something rather unusual with the way they manage investment trusts.

Last month, they announced plans to implement a zero discount policy on their newly acquired Troy Income and Growth Trust (formerly Glasgow Income Trust - Troy took it over last summer and renamed it).

For those who have no idea what that means, it’s basically a way of trying to control the share price of an investment trust from ballooning out to a ridiculous level.

Continue reading "Troy’s investment trust gamble"

St Valentine’s day approaches. And to prepare, tax advisers are reminding clients who are in relationships, but not married, of their rights.

Anita Monteith, technical manager with the ICAEW Tax Faculty, points out that the taxes ”most likely to affect” those in civil partnerships on the 14th of February and beyond are inheritance tax (IHT) and capital gains tax (CGT). 

Continue reading "A bit of St Valentine’s day tax advice for couples"