Citizens Advice has found that the 'Big Six' suppliers have increased prices by 36 per cent since October 2010, during which time earnings have risen by 4.4 per cent. Prices have also easily outstripped the rate of inflation, almost four times the 10.2 per cent increase in the last three years.
Click through latest news features
MONEY'S SIX OF THE BEST
'Extended loan lets me do up my first flat': Get a mortgage for longer than 25 years and cut costs
Long-life mortgages are coming to the rescue of hard-up homeowners. Brokers say increasing numbers of borrowers are asking for loans of 30 or 35 years rather than the traditional 25-year repayment mortgage. Emma Coyle (pictured) is benefiting as she settles into her new home, a Victorian flat in Manchester.
DEALS OF THE WEEK
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DON'T MISS
- MIDAS SHARE TIPS: Startling payouts show confidence in future Find out which firms have been exceeding expectations with their dividend payouts.
- Hiring a car abroad over the winter holidays will cost families a third more than a year ago Typical family vehicle is up £81-a-week on 2012.
- 'I went on Dragons' Den to please my mum. Now I plan to save Jessops' Peter Jones speaks of his biggest ever business challenge.
- My grandson has arm pain from heavy lifting but was threatened with the sack if he can't do his job What can he do?
- TONY HETHERINGTON: George Clooney and a horror movie offer An invitation to invest in a blockbuster movies is not all that it seems.
- I'm suffering with anxiety and family problems and can't cope with the gym So why won't LA Fitness let me cancel?
- Interest rates should return to 'normal level' of 4-5% once economic recovery is assured Bank policymaker on long-term outlook.
- Will the property market recovery make it cheaper to rent a home? As first-time buyers turn to Help to Buy, might rents start to fall?
- Ditching the UK for sunnier climes? Clever transfers and careful planning could help you fund your new luxury lifestyle.
- My daughter's identity was stolen by her step-sister and now she can't get credit. What can we do?
- The REAL £650m pensions scandal affecting Britain's retired expats Forget the £21.4m winter fuel payments, says Adam Uren.
- Best place to live in the UK? Solihull comes top in 'standard of living league' while Scottish towns fare worst.
CITY & MARKETS
MIDAS SHARE TIPS: Startling payouts show confidence in future ... and may herald share rises
Midas is starting a new column – dividend surprises. The column will look at the ten companies in the FTSE 350 index whose latest payouts most surpassed brokers’ forecasts. While past performance is no guarantee of the future, history shows that companies that produce these dividend surprises tend also to deliver share price rises that beat the market.
SAVE MONEY, MAKE MONEY: THE BEST RATES, DEALS AND TIPS THAT CAN MAKE YOUR RICHER
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BALANCE TRANSFERS
Best credit cards to help clear your debts at 0 per cent interest -
FIVE FAVOURITE ISAS
We've scoured the savings tables to find the best tax-free savings -
BEST BANK ACCOUNTS
Our pick of the top deals and perks that even include free money -
TOP CREDIT CARDS
From big ticket purchases to rewards, we pick the top deals -
CUT ENERGY BILLS
Is it worth switching supplier and how much could you save? -
CHEAP MORTGAGES
What next for rates, the best buy deals and should you fix? -
CAR INSURANCE
Ten tips to find the cheapest and best cover - plus compare quotes in minutes -
HOLIDAY SPENDING
Bank accounts and credit cards that don't hit you with big fees -
BALANCE TRANSFERS
Best credit cards to help clear your debts at 0 per cent interest -
FIVE FAVOURITE ISAS
We've scoured the savings tables to find the best tax-free savings
MONEY NEWS & ADVICE
'I saved hundreds of pounds on a trip': Buy train tickets in advance and pay just a TENTH of the full price
The run-up to Christmas started in earnest last week when pop sensation Jessie J switched on the lights in Oxford Street – an event that should prompt anyone thinking of travelling over the festive season by train to book their tickets now before prices rise steeply. According to online ticket seller TheTrainLine, a total of £5 million is saved by rail travellers buying Christmas tickets this month rather than waiting until December. Sam Leutton (pictured) profited.
May the rip-off continue! Banks and building societies free to charge loyal customers premium rates unless watchdogs act
Investigations by consumer group Which? found that existing customers are typically charged up to 12p a minute from a landline and up to 40p a minute from a mobile to call helplines. EU rules will ban the use of expensive numbers for helplines next year, but financial firms are excluded.
'I went on Dragons' Den to please my mum. Now I plan to save Jessops': TV's business giant (at 6ft 7in) tells of his biggest challenge
Peter Jones's personal wealth is estimated at almost half-a-billion pounds. In March he bought the high-street photographic chain. The company had collapsed into administration and Jones snapped it up and began drastic surgery, giving customers the chance to play with products in the same way as at an Apple store.
TONY HETHERINGTON: George Clooney, Leonardo DiCaprio and a horror movie offer
A dodgy past accompanies an invitation to invest in a £62million blockbuster movie about Greenpeace starring George Clooney, Leonardo Di Caprio, Matt Damon and Tom Hanks, none of whom have agreed to appear in it.
'You're missing a trick if you're in credit and don't take advantage': The top savings rates are in your current account!
Savers are being urged to put their cash into everyday current accounts as a growing number now pay interest rates that are many times higher than savings accounts – even tax-free cash Isas. With banks battling to attract new business, some are offering 5 per cent interest for customers who stay in credit. Simone Matthews (pictured) has switched.
STANDARD LIFE GLOBAL: Duo's 45 per cent gain makes strong case for investing in smaller firms
Fund manager Alan Rowsell (pictured) has got the Standard Life Global Smaller Companies fund off to a flying start. Since launch early last year, it has returned 45 per cent - far more than a fund tracking the FTSE All-Share index. Rowsell runs the fund on a day-to-day basis while Nimmo oversees it.
Pawnbroking for the posh: Ten supercars that wealthy owners are putting up as collateral on short-term loans
Desperate for quick cash to fund home improvements or to use as bridging loans, the UK's affluent are increasingly putting up their supercars as collateral, according to personal asset lender Borro. English classics, sleek Italian models and environment-killing gas guzzlers are being handed over to the lender for safekeeping in return for hefty loans of as much as £120,000. The loan is not without risk, as one in 10 end up unable to pay it back and must give up their prized possession.
A flight delay meant we missed our cruise. The airline paid out, but Saga insurance won't cover our ruined holiday
Due to a flight delay of 13 hours my wife and I were unable to engage with our NCL cruise ship to Barcelona recently. Monarch has accepted liability and is refunding the cost of the flight, but my claim for the cruise part of the trip has been refused by Saga.
My grandson has arm pain from heavy lifting but was threatened with the sack if he can't do his job. What can he do?
My grandson's developed severe pain in his arm from carrying 100kg carcasses in his job as a meat delivery driver and it was intimated when he mentioned it to his bosses that he would be laid off if he was unable to carry out his work. Do we have a case against the employer?
RUTH SUNDERLAND: If our great mutual movement is to thrive, its standard-bearer must be whiter than white
Nationwide building society, the UK’s biggest mutual, is understandably anxious not to be tarred with the same brush as the calamitous Co-op Bank. Graham Beale, the chief executive, can give himself a pat on the back this weekend. But look a little deeper into the Nationwide accounts and there are lessons he will no doubt be drawing from the Co-op debacle.
Landlords enjoying rising returns as rents soar and lenders slash loan rates: Best buy-to-let mortgages revealed
Banks and building societies have flooded the market with buy-to-let loans and slashed their cost to tempt borrowers into doing business with them. These investors are fast becoming a valuable cash cow for the lenders who view them as a safe bet — but who also charge them more interest than residential borrowers.
When will interest rates rise? Bank says unemployment target could be hit in 2015 - but that still may not trigger an increase
The bank rate is at a rock bottom 0.5%, and one day it must rise. The big question is when? We explain the factors that will decide when interest rates rise and how quickly, including the latest forecasts from markets and economists. The Bank of England now says the stronger than expected recovery could see the 7 per cent unemployment benchmark arrive sooner.
Best place to live in the UK? Solihull tops 'standard of living league' while Scottish towns fare worst
Solihull came top in a standard of living league of UK regions thanks to its high scores on disposable income, life expectancy and fast broadband speeds, uSwitch said. The consumer comparison website added that Scottish regions fared the worst by virtue of low incomes, poor exam results, low life expectancy and fewer hours of daylight.
MORE BUSINESS, CITY AND ECONOMY NEWS
Asda promises £1bn in price cuts to stop shoppers deserting to Aldi and Lidl while Sir Philip Green aims to serve up BHS food stores
Asda boss Andy Clarke said the middle market fought over by Asda, Tesco, Morrison and Sainsbury is almost dead as shoppers flock to either discounters Aldi and Lidl or upmarket Waitrose. He is promising a five-year price war that will save shoppers £1billion, as part of a strategy to position Asda as a discount supermarket, but one where customers can do their full weekly shop.
YOUR MONEY ESSENTIALS
Leeds BS cuts rates for remortgaging, but is now the time to find a better mortgage and who has the best deals?
With house prices rising and the prospect of the Bank of England base rate increasing, now may be the right time to make sure you are on the best mortgage deal. Many lenders already offer their best buy rates for remortgaging rather than specific products. We compare what Leeds has to offer.
Can't take cards, don't want cheques? Post Office's new payments service to help small firms make more money
According to new WorldPay research, 87 per cent of customers are likely to spend more money per transaction when paying with a debit or credit card, as opposed to cash. Yet many small traders can't take cards and with cheques dying out find themselves with a payment problem.
Fed up of lousy interest rates? Missed out on Royal Mail shares? You can get an income without gambling your savings
UK companies are set to pay out a bumper £100billion in dividends next year. So, if you are desperate for some income, now may be time to look towards the stock market. With a good fund or shares, you can grow your money and get a little extra annual income by pocketing the dividend payout or yield.
'We were mortgage free - now we risk losing our home': Adviser sold couple investment scheme that left them with almost £500k of debt
Arthur Pearson and his wife Irene were sold a fiendishly complicated investment scheme that had them borrow money with disastrous results.The debt includes a £200,000 mortgage they can’t pay off. Worse still, they have no one to complain to, as the independent financial adviser who convinced them to take out the investment, and the firm he worked for, are no longer in business.
Cashback, money-off vouchers and more: Be a savvy seasonal spender and get paid to do your Christmas shopping
The adverts on TV are a real sign the shops are ready for Christmas — so you need to be, too. Our wallets are already wearing thin, especially with double-digit energy price rises looming. So this year, more than ever, it is vital to be a savvy seasonal shopper. Tony Hazell looks at how you can be prepared.
Interest rates should return to 'normal level' of 4-5% once economic recovery is assured, Bank policymaker says
You could be better off avoiding Help to Buy: We reveal the best small deposit mortgages - and one could save you £4,000
Royal Bank of Scotland, NatWest and Halifax have already begun processing more than 2,000 mortgage applications under the Help to Buy guarantee, but other lenders have launched or cut 5 per cent deposit rates in recent weeks that are just as good or cheaper. We reveal the top low deposit home loans.
I have a buy-to-let and want to live in it after my divorce, but I can't afford to. Can I use Help to Buy to get a new home?
I own a buy-to-let but cannot afford to live there as the value is now higher than my multiples will allow. I'm recently divorced and want to own somewhere as a shared mortgage with my new partner. Can I take advantage of the Help to Buy scheme?
SMALL BUSINESS: NEWS, TIPS AND SUCCESSES
CARDS OF THE WEEK
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THIS IS MONEY: HOW TO FIX YOUR FINANCES
- Play the property game: Ten steps to buying your first home
- From free money to top perks? Five of the best current accounts
- DIY investing essentials: Should you invest in shares or funds?
- Climb on the ladder: The first-time buyer's guide to getting a mortgage
- How to get a cheaper smartphone
- Going on holiday? Best debit and credit cards to beat overseas fees
- Ten tips to get cheaper car insurance
- The best balance transfer credit cards to help clear your debts
- The best credit cards for spending, holidays and rewards
WHAT NEXT FOR YOUR MONEY?
Get saving now: This is Money's five favourite best buy cash Isas for 2013
A new tax year means a fresh Isa allowance to save. We pick our five favourite cash Isas for savers, don't miss this essential Isa reading that is kept up-to-date throughout the year.
When will interest rates rise? Bank says unemployment target could be hit in 2015 - but that still may not trigger an increase
The bank rate is at a rock bottom 0.5%, and one day it must rise. The big question is when? We explain the factors that will decide when interest rates rise and how quickly, including the latest forecasts from markets and economists. The Bank of England now says the stronger than expected recovery could see the 7 per cent unemployment benchmark arrive sooner.
Compare your pay to the national average in your job: League table of official UK salaries across 400 trades and professions
Midwives in the UK get paid on average £29,248: so where does your salary fit into the national league table, and how does it compare to the average in your profession? Our table lists hundreds of Britain's jobs from company executives and doctors to van drivers, waiters and textile machine operators.
Premium Bonds winners
Prize value | Winning bond No. | Area |
---|---|---|
£1,000,000 | 110NM465374 | Tyne and Wear |
£100,000 | 187EE207065 | Manchester |
£100,000 | 176RS978106 | Lincolnshire |
£100,000 | 159QT036890 | Norwich |
£50,000 | 63RH553428 | West Midlands |
£50,000 | 191DH809832 | Greater Manchester |
£50,000 | 43MJ093284 | Croydon |
£50,000 | 49BK161200 | Norfolk |
£50,000 | 211QN594328 | Hampshire and Isle of Wight |
£50,000 | 37PC596428 | Norwich |
A NEW ERA FOR BANK ACCOUNTS
MOST READ ON MONEY THIS WEEK
- You can get an income without gambling your savings Fed up of lousy interest rates? Missed out on Royal Mail shares?
- 50 ways to save money.... ...or how to clear your credit card debts many times over in less than a year
- Energy bills: As prices rise for winter, is it really worth switching We show you how to win and where to find the best fixed rate deals
- My daughter's identity was stolen by her step-sister Bills have not been not paid and now she can't get credit. What can we do?
- World shares climb towards five-year highs Investors look forward to more cheap money from the States as the Fed sticks with stimulus
- Clever transfers and careful planning could help fund a new luxury lifestyle How to ditch the UK for sunnier climes
- Asda promises £1bn in price cuts to stop shoppers deserting Shoppers flock to either discounters Aldi and Lidl or upmarket Waitrose
- Could cashback help claw back the costs of rising bills this winter? With price hikes dominating the headlines savvy switching is in vogue
- The ultimate DIY investment Novices urged to self-build to solve housing shortage - and make a big profit
- Should you join the rush to buy a woodburning stove? We've cut our energy bills by 25%, claim one family
- I'm 49 and have hardly saved anything. Should I just abandon the idea of a pension? Have your say in Money Morals
- House prices at highest level since 2008 after 7% growth in a year And economists predict 8% rise for 2014
- No mortgage if you've lived abroad any time in the past three years Nationwide to have some of the toughest rules
- The AA fitted a new starter motor for £200 - but now my car won't start And it won't give my money back
- A 7.5% return to investors willing to take a punt on Smartwater Three-year retail bond from London-based security firm
- Twitter may have helped overthrow governments, but is it worth investing in Are the shares worth a look and how do you buy?
- Taxman's 'shock troops' snatch back £100m HMRC targets restaurants, landlords and second homes
- RACHEL RICKARD STRAUS: I Wonga what you were thinking A film about a payday lender?
- Will auto-enrolment put your pay rise in peril? Companies expected to tighten purse strings to cope with pension costs
This is Money on Twitter
Premium Bonds winners
Prize value | Winning bond No. | Area |
---|---|---|
£1,000,000 | 110NM465374 | Tyne and Wear |
£100,000 | 187EE207065 | Manchester |
£100,000 | 176RS978106 | Lincolnshire |
£100,000 | 159QT036890 | Norwich |
£50,000 | 63RH553428 | West Midlands |
£50,000 | 191DH809832 | Greater Manchester |
£50,000 | 43MJ093284 | Croydon |
£50,000 | 49BK161200 | Norfolk |
£50,000 | 211QN594328 | Hampshire and Isle of Wight |
£50,000 | 37PC596428 | Norwich |
Latest: Mortgages & home
- 'Extended loan lets me do up my first flat': Get a mortgage for longer than 25 years and cut costs
- Rents rise by 11% in a year to 41% of average wage as demand for homes outstrips supply
- Tenants get a grip on their finances as fewer fall behind even as rents hit record £758-a-month
- Soaring spires and rich histories lure eager home buyers: Four of the best cathedral cities to look for a house
- Ditching the UK for sunnier climes? Clever transfers and careful planning could help you fund your new luxury lifestyle
- It's the best time to be looking for a mortgage for six years, so should you fix? What next for mortgage rates?
- HSBC pledges to beat High Street rivals on 15 per cent deposit mortgages but could you save by looking past the major players?
- Home repossessions at lowest level since 2008, but future interest rate rise could hit those rushing for cheap mortgages
- Rate race: Chelsea BS cuts as mortgage lenders compete for first-time buyers, but who has a winner?
Latest from Saving & banking
- From sorting out wills to cutting tax bills ... The FOUR vital reasons you HAVE to talk about money with the family
- May the rip-off continue! Banks and building societies free to charge loyal customers premium rates unless watchdogs act
- Do you have three months salary stashed away for a rainy day? 9m families 'wouldn't last a week' on savings
- Newbury BS launches best buy easy-access account at 1.65% as small building societies beat major banks
- Savers given small comfort with inflation fall but even the best account will make £1,000 worth just £991 after a year
- HSBC to scrap £25 fee for bounced bills and cheques for nine million customers
- Victory for Money Mail campaign as NatWest cleans up baffling array of cash Isa deals
- Apathy with poor savings rates means a quarter of us won't bother switching accounts to get a better deal
- Money Moral: Should we use money to bribe our two and a half-year-old son to do as he is told?
- New best buys as Virgin Money and National Counties bump up savings rates but Halifax slashes its top deals
Mortgage Affordability Calculator
ANSWERS FROM THE Experts
- TONY HETHERINGTON: George Clooney and a horror movie offer
- My grandson has arm pain from heavy lifting but was threatened with the sack if he can't do his job. What can he do?
- Will rising house prices and the property market recovery make it cheaper to rent a home?
- I'm suffering with anxiety and family problems and can't cope with the gym: why won't LA Fitness let me cancel?
- A flight delay meant we missed our cruise. The airline has paid up but my Saga insurance won't cover our ruined holiday
- My daughter's identity was stolen by her step-sister and now she can't get credit. What can we do?
- I have a buy-to-let property and want to live in it after my divorce, but I can't afford to. Can I use Help to Buy to get a new home?
- Will we pay capital gains tax if we sell our first home after building a second in our back garden?
- ASK TONY: Bungling Santander lost my £3,000 - then sent in the heavies
- Can I take care of my wife in retirement by giving her my personal pension pot so that she can buy an annuity?
Currency | Rate | Buy now |
---|---|---|
Updated 17 Nov 2013. | ||
Euro | 1.1719 | Buy Now |
US Dollar | 1.5791 | Buy Now |
Australian Dollar | 1.6659 | Buy Now |
Canadian Dollar | 1.6369 | Buy Now |
Chinese Yuan | 9.4043 | Buy Now |
Croatian Kuna | 8.791 | Buy Now |
Czech Koruna | 31.2 | Buy Now |
Danish Kroner | 8.6052 | Buy Now |
Egyptian Pound | 10.467 | Buy Now |
Euro | 1.1719 | Buy Now |
Hong Kong Dollar | 12.105 | Buy Now |
Hungarian Forint | 340.06 | Buy Now |
Japanese Yen | 157.13 | Buy Now |
Malaysian Ringgit | 4.9289 | Buy Now |
New Turkish Lire | 3.1734 | Buy Now |
New Zealand Dollar | 1.8914 | Buy Now |
Norwegian Kroner | 9.5347 | Buy Now |
Polish Zloty | 4.7843 | Buy Now |
Singapore Dollar | 1.9479 | Buy Now |
South African Rand | 15.849 | Buy Now |
Sterling | 1.0 | Buy Now |
Swedish Kroner | 10.304 | Buy Now |
Swiss Franc | 1.4382 | Buy Now |
Thai Baht | 48.577 | Buy Now |
UAE Dirham | 5.7436 | Buy Now |
LATEST ON HOUSEHOLD Bills
- Energy bills have risen at EIGHT times the rate of earnings in the last three years
- McBusted fans seething as tickets sell out in minutes... and appear on reselling sites seconds later at three times the price
- Could sweaty commuters cut your energy bill? Hundreds of homes to be warmed by waste heat from the London Underground
- 50 ways to save money....
- Another 300,000 households repaying long-term debts to their energy company as one in twenty accounts fall into deficit
- As more price hikes are announced could cashback deals help you claw back some of the costs of rising bills this winter?
- 'No ifs, no buts': SSE vows to lower energy bills if green levies are cut… as households are warned they face 17 years of bill hikes
- Cashback, money-off vouchers and more: Be a savvy seasonal spender and get paid to do your Christmas shopping
- Paying for gas and electric will be simpler in 2014 - but not cheaper: How the new daily energy charges can cause bills to double
- EDF and E.On seek to dodge the energy backlash with lower price hikes than rivals - but families still face inflation-busting rise
Latest from Cards & loans
- Taking on payday loans: Unite launches credit union service to keep members 'out of the clutches of parasitic lenders'
- Borrowers mis-sold credit card fraud cover called to vote to claim £1.3bn compensation
- Borrow interest-free for 28 months: The best balance transfer credit cards to help clear your debts
- More loan customers could be in line for refunds as 50 banks and building societies subject to OFT probe
- Sainsbury's Bank holds personal loan flash sale - the second lender this week to match record best-buy 4.8% rate
- JEFF PRESTRIDGE: And cut! We don't need this Wonga film, just lower rates
- Our loans picks: This Is Money's five of the best personal loans
- Personal loan offered at lowest ever rate of 4.8%: It beats a lot of mortgages but you have to bank with HSBC...
- RACHEL RICKARD STRAUS: A film about a payday lender? I Wonga what you were thinking
Latest from Investing
- SUNDAY NEWSPAPER SHARE TIPS: Premier Oil, Man Group and SSE
- MIDAS SHARE TIPS: Startling payouts show confidence in future ... and may herald share rises
- STANDARD LIFE GLOBAL: Duo's 45 per cent gain makes strong case for investing in smaller firms
- SMALL CAP MOVERS: Buoyant technology sector gears up for takeover battles
- Which fashion retailer shares should you buy? Stock experts reveal their picks amid hopes shoppers are getting in festive mood
- INVESTMENT EXTRA: Shareholder perks are back in fashion, but should you use them as a basis to invest?
- Is it time to invest in Digital Britain? Five top technology shares to rival Twitter
- Fed up of lousy interest rates? Missed out on Royal Mail shares? You can get an income without gambling your savings
- Unit trusts, OEICs and other funds CitiCode look-up table
Latest: money and Cars
- Next generation of Mini with 'more space and larger boot' to be unveiled by BMW
- Pawnbroking for the posh: Ten supercars that wealthy owners are putting up as collateral on short-term loans
- Motorists enjoy new phase in petrol price war as Asda, Tesco, Sainsbury's and Morrisons ALL cut prices at the pump
- 'I paid for a ticket and still got a £110 fine': Why you should fight a parking ticket and four steps to winning
- Money Morals: I've always wanted a brand new car but my wife says it's a waste of money, should I buy one?
- 'I informed my insurer about an accident without making a claim but it still raised my premium': Honest drivers hit by insurance penalties
- Car insurance costs crash 14% in a year but gender gap narrows to just £30 as EU rules shake-up premiums
- Claims for pothole damage jump 79% in a year as council data estimates there is one hole for every mile of road in the UK
- Ugly duckling: Aston Martin pulls its £32k Cygnet city car after selling fewer than 150 in two years - here's ten more pricey flops
TOP CALCULATORS
- This is Money's calculators and tools All our calculators in one place. See how they could help you
- Historic inflation: how the value of money has changed The effects of inflation since 1900 and what past prices mean today
- True cost mortgage tool - rates AND fees Compare the cost of rival fixed and tracker rate mortgages
- Mortgage affordability: How much you can borrow Find out how much you can afford to borrow and the difference between repayment and interest-only
- Monthly or lump sum savings calculator How much a regular monthly savings scheme could make or a lump sum could be worth.
- Premium Bonds: Have I won? How close have you been to winning your fortune? Our unique calculator will try to show you
- Pleasures v Treasures (how you can save more) How diverting the cash you 'waste' on everyday items into a long-term savings plan pays off
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