Mortgage rate war intensifies as Halifax and Nationwide slice prices

Mortgage giants Halifax and Nationwide went to war this week and have cut their rates again in a bid to tempt first-time buyers through their doors. On Tuesday Halifax threw down the gauntlet, slashing rate on its two-year 85 to 90% loan-to-value first-time buyer mortgage by 0.30%. Its two-year fixed rate is now priced at 3.44% while its five-year fix is at 3.99%.

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As a reputedly clever student of political history, one might have thought the current Chancellor George Osborne would have known much better than to repeat such a disastrous mistake.

Glitch at Aegon turns into pension admin nightmare for saver

Robert Deluce, 65, says he phoned Aegon half a dozen times but was given a different reason for his pension paperwork not being processed every time he spoke to staff. He says the entire frustrating saga could have been avoided if Aegon staff had just told him the problem straight away instead of giving him so many contradictory explanations.

Landlords have been forced to lower their rents after a glut of properties flooded the rental market in May, giving tenants more choice and flexibility to negotiate their monthly payments down.

EHIC allows you access to free or reduced cost state-provided healthcare in certain countries. It's free but some scam sites will try and charge you for one.

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FTSE CLOSE: Footsie stays higher despite an opening retreat by US stocks as Brexit fears

The London market broke back through the 6,000 mark as banks and housebuilders surged amid easing concerns over a British exit from the European Union. The FTSE 100 was 70.6 points ahead at 6021.1. Gold Miner Rangold Resources tumbled more than 4 per cent, while Lloyds Banking Group and Taylor Wimpey climbed 6 per cent and 4 per cent respectively.

Daily Mail City Editor Alex Brummer.
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With all eyes on the International Monetary Fund's final inspection report on the UK, a second report on the economies of the eurozone likely will get much less attention.

The logo of British bank Lloyds Bank outside a branch of the bank in central London, England.
British regulators said June 5, 2015, they had fined Lloyds Banking Group £117 million ($179 million, 160 million euros) for unfair treatment of customer complaints after they were mis-sold an insurance product.   

AFP PHOTO / JACK TAYLOR       
(Photo credit should read JACK TAYLOR/AFP/Getty Images)

More than 100,000 retail investors - including many pensioners - bought the bonds to help the bailed-out bank stay afloat during the financial crisis.

The German car giant behind two of Britain's most famous car-making brands Mini and Rolls-Royce has once more urged the UK to vote against Brexit.

Speaking ahead of the firm's annual meeting today, JD Sports's executive chairman Peter Cowgill said: '...we are well positioned to deliver an excellent first half-year result.'

The UK's second largest garden retail chain has been snapped up by investors led by private equity groups Midlothian Capital Partners and Hattington Capital.

Things you need to read about Brexit: Best articles to help you decide

Unfortunately for those who don't have strong feelings, the Brexit campaigns haven't been much use. It's been 'two sides shouting past each other', as one columnist put it and we've had all kinds of spurious economic claims punted out. We've pulled together some things that can help you decide.

Britain's Governor of the Bank of England, Mark Carney, speaks to reporters during the bank's financial stability report (FSR) news conference at the Bank of England in the City of London, Britain 01 December 2015. 

The FSR sets out the The Financial Policy Committee's (FPC) assessment of the outlook for financial stability in Briatin. Mark Carney said There are three major elements to the FPCís announcements. First, we are publishing the results of the 2015 stress tests;  Second, we are clarifying the overall capital framework for banks including the approach we will take to using the countercyclical capital buffer; and Third, we are updating our view of the major risks and vulnerabilities to Britain's financial stability and encouraging targeted actions to address them.  


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Rates were once again kept on hold at 0.5 per cent and projections on financial markets now suggest they will not reach 0.75 per cent until May 2020.

A legal battle has raged for several years over the 'enhanced capital note' bonds, first created when Lloyds was trying to shore up its finances in 2009.

Asda, Morrisons, Sainsbury's and Tesco lead way with fuel prices up to 5p a litre cheaper

Since mid May, the UK's average price of petrol has gone up another 2.4p to 111.58p a litre while diesel now averages 111.80p a litre, up 2.7p from a month ago. The AA data also shows that Asda is the cheapest place to fill up, while BP is most expensive.

For some, being at the back of a six-month waiting list is just not good enough. And that's why someone's offered £13k over the showroom price to get their hands on a used Jaguar F-Pace.

The good news is the new 911 R is superb. The bad news is they've all already been sold. So if you find an original owner willing to part with one, you'll have to pay massively over the £136,901 asking price.

Lloyds Bank lists top 20 places to live for young professionals

A town on the south coast has been named as the most desirable place to live in the UK for young professionals - and surprisingly it's not trendy Brighton but its near neighbour. Hove was given the accolade for the second year in a row after continuing to attract aspiring workers.

An average couple, working full-time, can step onto the property ladder three years sooner, and a single buyer eight years sooner by taking out a larger loan, new research claims.

Soaring house prices and strict lending criteria are putting many properties out of reach of families who are looking to buy a home with a household income that is the equivalent of an average salary.

Headwinds will only get worse for buy-to-let, warn experts

Britain is a nation obsessed with bricks and mortar but mortgage advisers have warned those thinking of investing in buy-to-let are facing headwinds that will only get worse. From next year landlords will see tax relief on their mortgage payments cut each year until 2021 - putting pressure on profits and potentially forcing them to raise rents.

E6YWE2 Woman buying new car

The NACFB said lawyers are investigating dealers concerning if customers were correctly informed about the higher interest rates for PCPs compared to HPs and the issue of holding equity in the car.

Losing a partner or parent is one of the most harrowing experiences in life but fighting for a life assurance payout at the time it's most needed can make it much worse.

Travelex launches Supercard which lets you sidestep hefty bank transaction fees

The Supercard lets spenders link up to five existing credit and debit cards to an attached Mastercard which you spend on as normal from your chosen account. Users will pay the Mastercard exchange rate for swiping their card in overseas restaurants and shops, but ATM withdrawals will cost an extra 2.99 per cent.

Savvy switchers who signed up to October's deal managed to slash their bills by an average £320 a year, with a deal that undercut the Big Six suppliers by £277.

The Shell logo is shown at a Shell petrol station April 23, 2003 in London, England. Oil company Royal Dutch/Shell Group has today, February 3, 2005,  announced record profits of GBP 9.8 billion along with a cut in oil reserves. (Photo by Scott Barbour/Getty Images)
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Analysis by investment group AJ Bell shows that 54 companies in the FTSE 100 index have handed out £48bn to investors in the last two years - despite having a £52bn pension black hole.

Cerys Matthews: Why I started up my own festival - and how we made it stand out

Singer Cerys Matthews travelled the world with her band Catatonia and as a solo artist. But she says her festival is a chance for people to unplug from their busy lives and reconnect with the countryside - in the beautiful setting of Hawarden Castle, the country estate of William Gladstone.

Skills such as a strong grasp of social media, computer coding and marketing are more valued by SMEs. David George, founder of bike insurer Bikmo, says he prizes personal traits.

Athlete Mannies was co-founded by running friends Ben Coldray, 24, and Richard Goodman, 23, who say there is a huge demand, particularly in London.

BBC's Paul Lewis challenges conventional investing wisdom after 21 years of study

Saving in best buy cash accounts over the past two decades beat putting your money in a FTSE 100 tracker the majority of the time, according to research by BBC Money Box presenter Paul Lewis. The high profile financial journalist carried out a huge study on conventional wisdom that investing in stocks is more rewarding than saving over the long term.

Why IS Barclays letting pushy salesmen flog £100 diet pills in its branches?

Salesmen from controversial health schemes are setting up stalls in Barclays branches and pouncing on people waiting to be served. Customers are being flogged expensive face creams and diet pills - and asked to become part-time sales staff themselves.

How tiny errors on our credit file cost us our dream home and mortgage

It had taken James and Nichola Bell six months to find the perfect family home. But the moment they saw the four-bedroom house in Saltaire, West Yorkshire they knew their search was over. They put in an offer the same day and it was accepted. Just a week later, their dream was in tatters.

Buy-to-let purchases fall drastically after stamp duty surge, says CML

There was a spectacular drop in the number of buy-to-let mortgages dished out in April compared to the previous month, Council for Mortgage Lenders figures show. The number of buy-to-let mortgages taken out was 4,200 after spiking to 28,700 in March 2016 ahead of the stamp duty changes which saw a three per cent surcharge added for second home buyers.

The analysis was carried out by housing charity Shelter, which warned that many tenants are in 'total desperation' about keeping a roof over their heads.

Households with a fixed-rate energy tariff coming to an end in June are being warned of a price hike of £173 to their energy bills if they fail to switch to a cheaper tariff.

MARKET REPORT: Fears for Capital & Counties shares as Deutsche says 'sell' based on

Analysts said the decision was based on the valuation of its Earls Court residential development in London and slowing growth at its flagship Covent Garden site. Deutsche's Oliver Reiff expects the value of the Earls Court land to plunge by 65 per cent. The development land represents about 40 per cent of the company's portfolio value, and its valuation is rated at mid-prime residential prices.

Underwear from home shopping group N Brown 

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The Manchester-based group, which is attempting to transform itself from a catalogue mail-order business to an online focused retailer, said first quarter revenue fell just 0.2 per cent.

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Ditching expensive bags and concentrating on a £500 to £995 price range has won back customers and annual sales rose 8 per cent in shops open for more than a year.

Chancellor of the Exchequer George Osborne departs Number 11 Downing Street on April 20, 2016 in London, England. 
Business continued as normal at Downing Street today ahead of US president Barack Obamas' visit to the United Kingdom. 

LONDON, ENGLAND - APRIL 20: 
(Photo by Ben Pruchnie/Getty Images)

George Osborne first trumpeted the idea of investing in a Northern hub to boost the British economy in June 2014, and planned to build better transport links between cities.

Undated handout photo issued by British Steel of a worker at the renamed British Steel plant in Scunthorpe, as unions welcomed the return of the British Steel brand after the completion of the sale of part of Tata Steel. PRESS ASSOCIATION Photo. Issue date: Wednesday June 1, 2016. Greybull Capital has bought the Long Products business, securing thousands of jobs at a huge plant in Scunthorpe. See PA story INDUSTRY Steel. Photo credit should read: Steve Morgan/British Steel/PA Wire
NOTE TO EDITORS: This handout photo may only be used in for editorial reporting purposes for the contemporaneous illustration of events, things or the people in the image or facts mentioned in the caption. Reuse of the picture may require further permission from the copyright holder.

The Government has run a consultation on allowing modifications as part of its efforts to rescue the Tata Steel business, which has been weighed down by the pensions deficit.

NWS-LRY-Poundland12
Poundland stores sell a variety of products that are often much more expensive in other stores.
A Poundland shop in London.

. REXMAILPIX.

Late yesterday Steinhoff - which owns UK furniture firm Harveys - revealed it had upped its stake in Poundland to 23 per cent stake and confirmed any potential offer would be made in cash.

AGJWW2 Two women shopping

Retail sales shot up by 6 per cent last month, the biggest annual rise since September, the Office for National Statistics said, driven by fashion sales, which increased 4.3 per cent month on month.

If we keep our flat and buy a £1m home, do we pay buy-to-let stamp duty

We own a London flat worth about £700,000 and would like to move out of the city to a house costing about £1million. Is it possible for us to do this and how much stamp duty will we pay? As the new property we buy will be our main residence, will we have to pay the additional 3 per cent buy-to-let stamp duty rate on it?

Some 15k cars that were advertised for sale in classifieds last year were identified as stolen vehicles. According to HPI, the most stolen motors in 2015 resided in East Anglia and London.

Given the poor track record of Britain's trains, Land Rover may have hit upon the perfect answer to poor punctuality and reliability - using a 4x4 to tow three luxury carriages.

Pensions Road Sign against threatening clouds

Research by charity Citizens Advice has sparked fears that millions of over-55s who opted to keep their pensions invested and use them like a bank account are being hit by high charges.

Schroders Global Investor Study found millenial investors expected a 10.2 per cent level of income from investments - far higher than the FTSE All-Share's current 3.75 per cent yield.

Our equity release guide shows how to repay interest-only deals

Equity release is like an ordinary mortgage without the need to make monthly repayments. Instead, the interest is rolled-up and repaid once the borrower dies or is taken into care. These deals are only on offer to those aged 55 or over. For people who are struggling to clear their home loans at the end of the term, equity release is usually seen as a last resort.

While cars typically lose 20 per cent of their value a year after being driven off the forecourt, money-draining mobiles struggle to retain their value after a matter of months, musicMagpie.co.uk said.

DW1RRT hacker on duty. Image shot 11/2012. Exact date unknown.

The fraudsters typically cold-call victims and offer free pension reviews.
They then promise big returns if customers transfer cash into risky investments such as wine or overseas property.

ASK TONY: Scottish Power wants me to pay £500 but won't read my meter

I have had several problems with Scottish Power since it started supplying energy to my home nearly two years ago. In January 2016, I received a statement suggesting it had never received an electricity reading, even though a meter-reader comes around every three months.

Businessman shaking a piggy bank

This gives you just £10.40 interest a month on £10,000 worth of savings, even if you don't pay tax. After 20 per cent tax, you'll see £8.32.

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When a fixed-rate bond expires, many banks and building societies automatically move your cash into the newest version of the same account - unless you tell them to move it elsewhere.

Investors seeking safe havens buy Japanese yen and gold after a surge of support for a

Traders are also rushing to insure themselves against a further fall in the pound - which on Monday hit a two-month low against the dollar - if Britain votes to quit. And the jitters have seen gold prices jump to a one-month high of more than $1,286 per ounce. This turmoil has been sparked by a series of polls suggesting the Remain camp's warnings are failing to convince voters.

man, car, diagnosis, tools, occupations, garage, trades, repair, diagnose, indoors, mechanic, Caucasian, diagnostic, breakdown / ALAMY IMAGES

A major investigation by a car repair trade body found ambulance-chasing firms were getting hold of customers details within hours of a motorist dropping off their vehicle at a garage.

Logo: Glasgow-2014 and sse proud partner landscape


Ambassador Katarina Johnson-Thompson and Team Scotland
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Under a new industry guarantee, you should be able to move power suppliers within 21 days.
British Gas, EDF Energy, Eon and Scottish Power have all signed up to the pledge.

A quarter of my pension goes on council tax - how is this fair? Steve Webb replies

Former Pensions Minister Steve Webb is This Is Money's Agony Uncle. He is ready to answer your questions, whether you are still saving, in the process of stopping work, or juggling your finances in retirement. He suggests a way that a pensioner struggling to pay his council tax bill might be able to get a full rebate.

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On a typical £150,000 loan, early repayment could mean as much as a £7,500 penalty - charges vary from 1 per cent to 5 per cent of the total mortgage.

A single worker aged between 22 and 29 years old typically spends 48 per cent of their post-tax income on rent - rising to an average of 57 per cent for those in London.

House prices accelerated after the stamp duty rush, say new official ONS figures

Property values across Britain continued to accelerate beyond the buying boom triggered as landlords and second home buyers rushed to beat the 1 April stamp duty hike deadline, figures show. According to the brand new house price index from the Office for National Statistics, which spells the death of the separate monthly Land Registry report, prices were up 8.2 per cent annually in April 2016 to reach an average of £209,000.

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Buildings, Sights and Signs in the City of London

The decision should prompt customers with gift cards for BHS, which fell into administration last month, to act fast. BHS is still accepting vouchers - but only if they make up less than half the total bill.

E6AC0C A burglar in a balaclava breaking and entering into a property.

Most people assume their insurance will protect their belongings in any situation. But successful claims on home contents cover have fallen 6 per cent in a year.

Why has RBS replaced cash machines at branches with third-party ones

My local RBS has replaced the cash machine with one operated by a third party - why has it done this, I can now longer obtain a mini statement from my own bank without any prior warning.

Why do we need to buy travel insurance when we already have EHIC cards?

We've just booked our summer holiday to Italy but we're yet to buy travel insurance. As Italy is in Europe are we ok just taking our EHIC cards? I understand it will pay for our medical costs if we fall ill. Or do we need to buy separate travel insurance as well?

Valuation fees, legal fees and exit fees can add up when taking a mortgage

Choosing a mortgage is a complicated business with hundreds of deals on offer, each with its own bells and whistles - cheap rates, no fees, free valuations, free legals and cashbacks. But opting for the cheapest rate or the highest cashback offer isn't always going to mean you pay the lowest amount back to your lender. And so-called 'fee-free' deals at a higher rate might not be entirely free of fees in reality.

Hope for British buyers who lost fortunes in Spanish property crash 

British investors who lost big deposits in the Spanish property crash have been given fresh hope of getting back their money. Around 100,000 people in the UK are thought to have paid big sums towards 'off-plan' properties in Spain - ones which were yet to be built. Demand was high a decade ago, when around 800,000 holiday homes a year were being built in Spain.

50 ways to save money....

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.

Pick the best (and cheapest) investment Isa platform

Choosing the right DIY platform is crucial but a wealth of choice and changes to charges have left many investors scratching their heads. We pick some of the best. We also highlight why investing in an Isa makes sense, as it should protect your hopefully growing investments from tax forever.

In this low-income world it can be hard to find mainstream investments paying a significant yield. Stifel has compiled a list of 19 investment trusts with a yield of more than 4 per cent.

L Board sign on the rear of a blue saloon car , UK

If you are new to investing then the huge number of funds and investment trusts on offer can be confusing. Fortunately, This is Money's experts have some ideas to get you started.

Income investing: Dividends can deliver both a healthy boost to long-term growth and a way to earn from your investments.

Income investing can let you draw on your portfolio or reinvest dividends to build solid growth over time. Our experts give their fund and investment trust recommendations.

On the up: Emerging markets such as Brazil are where much of the world's growth is expected to be over future years.

If you're looking to add some flair to your investing Isa with emerging markets, This is Money's experts have some ideas to get you started

When will UK interest rates rise?

George Osborne's continued austerity revealed in his 2016 Budget is likely to keep rates on hold for longer. Inflation expectations have been revised down for 2016 to 0.7 per cent, while Brexit uncertainty and slow global growth are also playing on rate-setters' minds.

Banking customers typically stick with their current account provider for an average 15 and a half years. But signing up for a new account can get you a much better deal. Here's how to switch

House prices: What to expect - news and predictions

Nationwide says there was a 'mixed picture' across the regions in the third quarter of 2015, with the rate of house price growth accelerating in southern England and particularly London, but slowing down in the Midlands and most northern areas.

Ten tips for buy-to-let

For many buy-to-let looks an attractive income investment in a time of low rates and stock market volatility. Climbing house prices, rising rents and improving mortgage deals are tempting investors - although they will need a big deposit. Read This is Money's top ten buy-to-let tips

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Musicians have seen pay rises averaging nearly 20 per cent in 2015, while cleaners are getting 17.8 per cent more, and window cleaners 12.3 per cent. Artists in general are earning 14.6 per cent more in 2015 than 2014, according to the huge annual data dump of pay scales by the Office For National Statistics highlights.

Premium Bonds winners

June 2016
Prize value Winning bond No. Area
£1,000,000 59PP368618 Lincolnshire
£1,000,000 263NW544687 Kent
£100,000 264BZ537198 West Midlands
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£50,000 272HH746189 Devon
£50,000 259XJ252699 Inner London
£50,000 255BC209177 Essex
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£50,000 224BW986972 Hampshire and Isle of Wight
£25,000 35GD336880 West Yorkshire
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