Before the coronavirus pandemic, Irene Priestley, 91, would take a short bus ride to the nearest Santander branch and withdraw all the cash she needed for a month. But now, confined to her home and without internet access, she is running out of money. Santander, like all other UK banks, has this week outlined how … Read more
It is nearly a month since the Government turned the key on a nationwide lockdown — changing the world, almost overnight, for businesses across the UK. Despite being promised support packages, many small businesses fear they will not survive. Figures this week revealed that banks have given vital loans to only 5,000 British firms — … Read more
Parents struggling in the coronavirus chaos find it hard to put money aside for kids as savings rates face hefty cuts By Sylvia Morris For The Daily Mail Published: 22:01 BST, 14 April 2020 | Updated: 22:01 BST, 14 April 2020 Children’s savings rates are facing hefty cuts but there are still some generous Junior … Read more
Revealed: 1.2million households have already taken a mortgage holiday – but experts warn some could struggle to remortgage as a result Some 1.2m households have taken a mortgage repayment holiday so far The vast majority of these will have been financially hit by coronavirus But experts warn these borrowers may be looked upon unfavourably in future … Read more
As global markets continue to react violently to the uncertainty caused by the coronavirus pandemic, technology firms have weathered the storm reasonably well – so far. The technology sector has performed better than most other industries and regions over the past six weeks, which have seen key indices suffer their biggest drops in history. Both … Read more
An increasing number of savers with large pots are turning to platforms as they look to safely spread their money across multiple accounts to benefit from savings protection amid market turmoil caused by coronavirus. Savings platforms Flagstone, Hargreaves Lansdown Active Savings, Octopus Cash and Raisin allow savers to open accounts of different lengths with multiple … Read more
Should state pension triple lock be axed to help pay coronavirus bill? It’s ‘not too much to ask’ elderly to sacrifice £4bn a year, think tank claims The triple lock guarantees the state pension rises by at least 2.5% a year A move to a double lock would base future increases on wage and price … Read more
Many people are worried that the economic impact of the coronavirus will drag Britain into recession. As anyone who lived through the country’s last recession will remember, it triggered a rise in unemployment, personal debt and a major crunch on earnings. Once the last recession died down, it took five years for the economy to get … Read more
The coronavirus pandemic has seen a number of major events cancelled, including the Edinburgh Fringe festival, Glastonbury music festival and the Wimbledon tennis tournament. But a number of smaller events have also had to postpone and it leaves a number of questions marks if and how exhibitors will be refunded. For example, those who had booked … Read more
Housebuilders spark row over taxpayer cash as they rush to furlough staff – despite making billions off Government’s Help to Buy scheme By Matt Oliver For The Daily Mail Published: 21:50 BST, 13 April 2020 | Updated: 21:50 BST, 13 April 2020 Britain’s biggest housing companies have furloughed more than 9,000 workers using taxpayer cash … Read more