More than 6,000 people have put in applications for Help to Buy guarantee mortgages with RBS, Natwest and Halifax in the scheme's first three months. However, the number could soar in the coming months, amid fears of a property bubble, as the government will start including applications from other participating lenders.
With inflation running at 2.1 per cent in November, the account, while hardly a source of decent income, will at least protect savers' deposits from inflation and a bit more besides.
Managing director Andy Street told the Telegraph that John Lewis is likely to open at least one store outside of the UK within the next decade.
For investors 2014 could mark the beginning of a return to normality. We reveal which markets look cheap and expensive using the Cape ratio and round up investing experts' predictions of how Europe, the US, Japan and emerging markets are likely to fare in 2014.
A study by equity release provider Stonehaven found that giving children and grandchildren a financial boost is now the third most popular reason for releasing equity.
Even though more than three-quarters of pensioners said they had struggled financially in 2013, it didn't stop them from splurging on their grandchildren at Christmas.
Each supplier will only be able to offer four core tariffs per customer for both gas and electricity. They will also have to spell out price rises in pounds and pence.
The man, who has holdings worth £30,000, has won the top prize of £1million after his Bond number was selected by NS&I;’s random generator, ERNIE.
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| Prize value | Winning bond No. | Area |
|---|---|---|
| £1,000,000 | 191TL445024 | Suffolk |
| £100,000 | 56RJ266380 | Sheffield |
| £100,000 | 172EK394115 | Bridgend and Neath Port Talbot |
| £100,000 | 187PG613485 | Cornwall |
| £50,000 | 24VV973581 | Bromley |
| £50,000 | 190TJ630416 | Kent |
| £50,000 | 214FZ777985 | Oxfordshire |
| £50,000 | 208SB658393 | Harrow |
| £50,000 | 156MF391175 | Bradford |
| £50,000 | 60FY064698 | Cardiff |
£1: what the worst cash Isa paid out on £1,000 in 2013
And here are the 30 rotten accounts you should ditch today.
The top 20 stories of 2013...
And why This is Money's wish for the New Year is that we don't have to fight your corner so much.
Beware skiers who have a tipple and then hit the slopes!
Insurers are cracking down.
Is it time for a dry January?
How a month-long break from the booze can boost pension fund by £20k.
I can't understand why everyone doesn't join the cashback cult
JAMES CONEY on 'free money' from credit card companies.
Dismal 2013 for gold
Precious metal slumps to biggest annual loss for more than three decades
Victims of Christmas blackouts can claim compensation of up to £200
But you must apply within three months of power coming back on
Should you invest in the best of British?
A magnificent seven UK shares that could bolster your portfolio in 2014
What economic recovery?
Only one in 50 people believe that things are better for them - and just a fifth think 2014 spells good news
House prices up 3.2% over the past year
London property rocketed almost 11%, Land Registry figures show
Get 30 months to clear your debts
Barclaycard reclaims the balance transfer mantle
Shares in Debenhams picked up 3 per cent on the announcement that chief financial officer Simon Herrick was to leave. Rivals also saw gains after sparkling festive performances were reported by House of Fraser and John Lewis, though the wider performance of equities was gloomy, with the FTSE 100 Index down 31.2 points to 6717.9, or nearly 0.5 per cent.
No reason was given for his departure, but Herrick came in for criticism over a letter hitting the retailer's suppliers with demands for discounts days before Christmas.
While the two reported sales that are likely to be the envy of most rivals, they could not remain immune from the chilly Christmas trading conditions, sparking fears that competitors will unveil a spate of disappointing trading updates.
December was the ninth month in a row in which manufacturers reported their businesses growing as a result of higher levels of new orders and efforts to clear backlogs of work.
It is not hard to spot underperforming companies, but it is significantly more difficult to identify those that will make a successful recovery.
The scale of the loss faced by the taxpayer will raise eyebrows after it emerged that RBS boss Ross McEwan was quietly handed £1.5million in free shares.
BALANCE TRANSFERS
FIVE FAVOURITE ISAS
BEST BANK ACCOUNTS
TOP CREDIT CARDS
CUT ENERGY BILLS
CHEAP MORTGAGES
CAR INSURANCE
HOLIDAY SPENDING
BALANCE TRANSFERS
FIVE FAVOURITE ISAS
New Year’s resolutions are often all but forgotten by February, but even taking small steps to fix your finances could give you a more prosperous 2014. There are plenty of ways to make more of your money, from tax allowances to free money tools. We asked two experts to outline their tips for 2014 financial resolutions.
There are 269 low-income areas with no free machines within a 1km (0.6-mile) radius - with half of the most excluded people living in South Wales and the North.
At present, 80 per cent of workers retire by the age of 65, but by 2020 this is expected to have dropped sharply to 35 per cent.
Banks are working to improve their deals after the introduction of one week switching for current account holders, which has heated up competition. Barclays claims the new simpler fees will save its current account customers up to £14million in 2014.
British Gas, SSE, E.ON, EDF, npower, and Scottish Power paid £4billion more for power than the market rate, according to shadow energy secretary Caroline Flint.
Stephen Hammond denied operators were using the railways as a 'cash cow', as passengers hit out at prices rising three times faster than wages.
The annual cost for an older person who needs ten hours of home care and receives five meals on wheels a week has risen to £7,900 a year on average.
Britain's biggest banks have paid as little as £1 interest on every £1,000 saved in the worst cash Isas of last year. Money Mail research reveals that Barclays, Halifax and Santander had the three worst-paying accounts over the past 12 months. Each gave just 0.1% to loyal customers. Incredibly, state-backed Halifax and Lloyds have eight rotten Isas in our list of the 'dog' accounts which you should ditch today.
Drinkers who make taking a month-long break from the booze their New Year’s resolution will end up with a slimmer waist - and £1k a year more in pension payouts. The money saved by a dry January could boost your pension fund at retirement by up to £20k according to figures from pensions consultant JLT Employee Benefits.
Investors who bet on stockmarket trackers to cash in on the rise in share prices missed out on a fifth of their profits if they picked the wrong fund.
A New Year's Day credit card war has broken out as banks try to lure in borrowers who've resolved to reduce their debt.
Passengers may soon have to be delayed for five hours instead of three to claim compensation from their airline.
2013 was another year of record-breaking traffic for This is Money. It turned out to be a decent one for the economy too, yet among the improving economic news has come the usual catalogue of blunders, ill treatment and shoddy service that drives readers to us for help. We reveal the top stories of the year and our wish for 2014.
Despite my initial scepticism, this has not proved to be some fictional pot of cash that is impossible to get your hands on, or a false economy.
Norwich & Peterborough Building Society is to scrap a popular bank account which has a debit card that is free to use overseas.
According to the TUC only one in five expect the gains of an economic recovery to benefit them in the year ahead, with just 2 per cent feeling it now. The news will come as a blow for the Government which has been busy assuring voters that as the economy improves in 2013 and 2014 it will slowly be felt by everyone.
Thousands of homeowners risk missing out on compensation worth up to £200 after spending Christmas without power.
The findings from music trade body the BPI and the official Charts Company shows that 7.4bn tracks were played on paid-for or ad-funded streaming services.
It has up days, down days, rollercoaster days and black days. On rare occasions, it has days when it bathes the screens in blue. To millions it is a footnote to the 10 o’clock news that has the vague ring of familiarity. It is, of course, the FTSE 100 – the index that charts the ups and downs of Britain’s largest-quoted companies - which on January 3 celebrates its 30th birthday.
Every year brings its crop of figures who shape the economic and business agenda. So who is likely to shape the drama this year?
The price of bullion dropped as low as $1,184 an ounce on the final day of trading of 2013 before recovering to around $1,200.
Final salary company pension schemes in the FTSE 100 index of blue chip firms swung from a surplus of £14billion at the end of 2008 to a deficit of £57billion at the end of 2013, according to the report.
If my husband and I get divorced would I still be entitled to half his pension? I am 61 and he is 52, he will be 53 in February 2014. He will start receiving his pension in two years time when he will be 55. Our experts take a look at what happens to the pensions of silver splitters.
Investors in UK shares have enjoyed a bumper year but how will they fare in 2014? No one knows how the year ahead will turn out but in the investing world quality usually shines through. Broker Killik predicts 2014 will be another good year for equities and has highlighted seven UK stocks that should do well.
The Timeshare Task Force is made up of the Resort Development Organisation, and advice service the European Consumer Centre.
Barclays Stockbrokers is shifting a raft of complicated investments often deemed too risky for ordinary savers from its main site on to a new one for expert traders.
Christmas party food is rarely anything to write home about, but that's unlikely to have been the case if you had eaten Christmas lunch served up in a lollipop. And that's what you could have been served up if your bosses had booked four ambitious chefs, who think that exotic recipes with a scientific twist could be the key to success for their fledgling catering company.
The outspoken entrepreneur issued a challenge to the Government last night, saying companies should not pay any tax.
Official statistics put the number of workers aged 65 or over at 1.068 million as of October this year, a rise of 33.5 per cent on the 800,000 in work in May 2010.
Firms are being held back by a 'cost of doing business crisis', according to the director-general of the British Chambers of Commerce.
Property values swelled by more than 10 per cent annually in London, but they fell by 1.6 per cent in the North East in the year to November.
A study says 26 per cent of retired households are currently renting their home and that the top 10 'retirement rental hotspots' are London boroughs. Outside of London cities continue to dominate, with Manchester, Norwich, Liverpool and Hull also seeing a higher proportion of renters. This may well also reflect levels of deprivation in urban areas that mean people either find it difficult to get on the housing ladder or have fallen off it due to struggles with debt.
Will the FTSE 100 hit an all-time high in 2014? Nearly a quarter of investors think the index will bust its previous record and end above 7,001 next year, finds a poll.
Workers across the UK have seen their pay packets shrink by an average of 14 per cent in real terms in the last five years as wages fail to keep up with inflation.
Low interest rates and dismal bond yields have forced many investors to rebalance their portfolios, in the process taking more risk with shares. We ask four top financial advisers - plus online broker Fund Expert's tipster Trigger, a Staffordshire bull terrier - how they would invest £100,000 for the long term, according to whether the client is cautious, balanced or adventurous in their attitude towards risk. They also give fund recommendations.
Don't leave your unwanted Christmas gifts to gather dust - see if you could make some cash from them to help with that festive-debt hangover.
We all try our hardest to choose thoughtful presents — but gift buying doesn’t always go to plan. We guide you through how to deal with those gift buying disasters.
From a great mortgage deal and writing off a £1,000 broadband bill to wasting money on rent and spending a fortune on repairing a classic car, Sally Hamilton, Jeff Prestridge, Laura Shannon and Toby Walne reveal their highs and lows for 2013 - as well as four simple ideas to boost finances in the new year.
In 2007, Sir Mervyn King, came up with a big idea. If Britain was ever to pull itself out of the financial crisis of his lifetime, it needed to learn the lessons of the past.
Antony Jenkins said the series of scandals that have rocked the banking system had damaged the bank's reputation over the long term.
A boost to tax-free savings, 'simpler' fuel tariffs and new current accounts from challenger banks are all in the pipeline for next year. For anyone starting afresh with their finances, we give the rundown on what to expect in 2014.
Under the current system, unemployed homeowners can claim Support for Mortgage Interest 13 weeks after signing up for income related benefits.
A key policy of President Francois Hollande, a new 'millionare's tax' will levied on companies that pay salaries of more than €1million-a-year.
Six out of ten of our stock picks were winners this year, and three of them made significant gains. How then did the Daily Mail portfolio manage to post a loss? Well, our three tail-end Charlies, particularly RSM Tenon, did most of the damage. Will our 2014 picks - including AMEC, SeaEnergy, Berkeley and Regenersis fare any better?
Bestinvest's top funds for 2013 consist of nine equity funds and one absolute return fund. Bond funds are conspicuously absent
Lindsell Train UK Equity Fund is based on the renowned investor's straightforward advice to buy the undervalued shares of great companies and 'hold them for ever'.
Shares are endorsed as the asset class to be in next year, with further gains expected despite stellar performance in 2013 dimming somewhat of late. But 2014 will mark a post-crisis turning point, when the US Fed starts to cut its stimulus programme and leave markets to fend for themselves again.
Investment management firm Psigma predicts 2014 could be the year for Asian equity, particularly in Japan and China.
The Standard & Poor's 500 index has raced 29 per cent higher during 2013, compared with 18 per cent for the FTSE All Share index. But can the pace last into 2014?
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To clear the average national household debt of £13,000 at 6% interest with a monthly repayment of £100 will take around 17 years. There are, however, plenty of simple ways to make significant savings on your regular spending that could clear your debt - or boost your savings - in less than a year. This is Money's top 50 – updated – money-saving tips may appear light-hearted but are deadly serious.
You can stick up to £5,760 in a cash Isa this tax year. 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.
The Association of Investment Companies has analysed all investment trusts to find the 20 strongest and most consistent performers of the last decade.
Royal Mail investors were attracted by the lure of a bumper dividend of 6 per cent or higher. But there are lots of household names with a good dividend yield.
Neil Woodford is stepping down from his funds where he is Britain's favourite manager. We pick five alternative income funds and trusts worth a look.
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. Unemployment has continued to fall faster than expected putting the D-Day for considering a rate rise closer, but the Bank is sending our low rates messages.
For many buy-to-let looks an attractive income investment in a time of low rates and stock market volatility. Read our top ten buy-to-let tips
The Bank of England will dramatically scale back the Funding for Lending scheme, but lenders still have some astonishingly low rates on offer.
As house price inflation picks up, Savills has released its forecast for areas across Britain. We analyse the latest figures and the prediction for where you live.
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.
Place a bet on Uncle Sam
Top fund tips to take advantage of the great US corporate recovery
Britain's small firms expected to make their mark in 2014
So who will be the new big names as optimism grows?
Will the US stock market still be a land of opportunity
Can the pace last into 2014?
Best investment trusts of 2013
Bold bet on China's gambling capital Macau tops the charts with an 85% return
Twelve of the best fund managers to watch
Should you back high conviction investors?
'Our ski chalet turned out to be a fake
Scammers con thousands of pounds from holidaymakers
Another dodgy jumper?
How to get money back on Christmas gifts
How will stocks perform in 2014?
City gurus tip the sectors and shares to watch next year
House prices up 3.2% over the past year
With London property rocketing almost 11%, Land Registry figures show
The best way to invest £100,000
Four top financial advisers (and Trigger the dog)
Strong possibility of fraud if you invest in 'miracle material' graphene
Warns watchdog after 'boiler room' find
SIMON LAMBERT: My outside tip for 2014
The interest rate debate will be about low not high inflation
Bosses feel pressure to up wages
And jobless total will hit rate cut level by mid-2014
City expects Footsie to hit all-time high in 2014
As recovery continues and company profits bounce back
Revealed: UK's 1,000 most exciting and inspirational companies
Small companies providing the fresh ideas that could underpin UK growth
Six of the most economical family cars money can buy:
True MPG figures reveal Seat Leon is cheapest to run
50 ways to save money
Simple steps to cut what you spend
| Currency | Rate | Buy now |
|---|---|---|
| Updated 02 Jan 2014. | ||
| Euro | 1.1831 | Buy Now |
| US Dollar | 1.6262 | Buy Now |
| Australian Dollar | 1.8069 | Buy Now |
| Canadian Dollar | 1.7213 | Buy Now |
| Chinese Yuan | 9.6164 | Buy Now |
| Croatian Kuna | 8.8468 | Buy Now |
| Czech Koruna | 31.972 | Buy Now |
| Danish Kroner | 8.7 | Buy Now |
| Egyptian Pound | 10.865 | Buy Now |
| Euro | 1.1831 | Buy Now |
| Hong Kong Dollar | 12.509 | Buy Now |
| Hungarian Forint | 345.26 | Buy Now |
| Japanese Yen | 170.71 | Buy Now |
| Malaysian Ringgit | 5.2056 | Buy Now |
| New Turkish Lire | 3.39 | Buy Now |
| New Zealand Dollar | 1.9774 | Buy Now |
| Norwegian Kroner | 9.7379 | Buy Now |
| Polish Zloty | 4.8276 | Buy Now |
| Singapore Dollar | 2.0384 | Buy Now |
| South African Rand | 16.904 | Buy Now |
| Sterling | 1.0 | Buy Now |
| Swedish Kroner | 10.334 | Buy Now |
| Swiss Franc | 1.4479 | Buy Now |
| Thai Baht | 52.438 | Buy Now |
| UAE Dirham | 5.9104 | Buy Now |
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