Money

Updated: 03:40 EDT

How could the General Election affect your finances?

The outcome of Thursday's General Election could affect aspects of our finances, from what we keep from our pay cheques to what we pay for rent. Issues at stake range from higher tax rates, to the triple lock and the cost of university tuition. We've put together a table of the key policies of each party and what they might mean for you.

The charity treasurers, who are mainly volunteers, are preyed on because they often lack the know-how to avoid the latest scams, experts say.

ASK TONY: Switch from Virgin to Sky left me without phone

My daughter and I tried to switch from Virgin Media to Sky to get a better deal. But the Sky engineer said the satellite signal was being blocked by our neighbour's tree. We decided to stay with Virgin. Then four days before the original date for the changeover, everything went blank. We had no internet, landline and only the free TV channels.

Typically, April is the month when money piles in as savers look to use up their annual allowance - £20,000 for this tax year. In April last year they saved £495m.

Two months after the so-called Lifetime Isa was supposed to go on sale, the first cash account was finally unveiled yesterday by Skipton Building Society. It wasn't worth the wait..

Applications for lasting power of attorney - a vital document that allows someone to make financial decisions on your behalf - has hit a record 591,000 a year.

EDITOR'S DEALS OF THE WEEK
**Not FCSC protected. For current account rewards and interest conditions may apply eg. using provider's full switching service, min deposits and direct debits. For savings, access maybe limited, min/max deposits may apply. See T&Cs.; Representative example: If you spend £1,200 at a purchase interest rate of 18.95% p.a. (variable) your representative rate will be 18.9% APR (variable).

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London shares head lower in final day of campaigning

NEW Polls show the Conservative party is on top in the polls, but not by much.  Security has become the number one issue and yesterday Theresa May said she will change human rights laws if they 'get in the way' of tackling terror suspects. May said this would help 'restrict the freedom and movements' of those posing a threat and deport foreign suspects. The UK could seek opt-outs from the European Convention on Human Rights, which it has abided by since 1953.

Nervous investors are braced for a potentially explosive 24 hours that could send financial markets around the world into a tailspin.

Judged on share price alone, BA's bank holiday IT meltdown has done only limited damage. Indeed, holders of stock in the International Airlines Group, which owns BA, have had a terrific run.

The oil firm's board was forced to defend its chief executive Murat Ozgul, 43, after around 30 per cent of the vote at yesterday's annual meeting went against his re-election.

The Frankfurt-based Sentix research group said its index of investor sentiment in the single currency bloc is now at its highest since July 2007.

The South African-owned fashion retailer was forced to slash prices to shift stock, and is fighting to catch up with shoppers who want fashion to become even faster.

Could catastrophe bonds boost your nest egg?

Every year about one million earthquakes and 90 hurricanes are recorded worldwide. For families affected, these can be devastating. And for insurers, financially crippling. When Hurricane Katrina hit the U.S. more than a decade ago, it was estimated to have cost insurance companies £62 billion.

Eager savers who have been waiting for a cash version of the new Lifetime Isa will be able to open one with Skipton Building Society this Thursday, it has revealed.

The Treasury announced in March that firms facing the greatest rises in business rates (a tax on commercial property) would have increases capped at £50 per month this year.

Top interior design tips revealed in three home makeovers

See how three homes were transformed into luxury pads with designer touches such as over-sized lamps and co-ordinating ornaments added to previously bland interiors. We got top designers at Alexander James Interior Design to give their advice on how to achieve a sophisticated designer look.

Vanguard made quite a splash with its entrance into the direct-to-consumer investment platform marketplace - creating ripples that have buffeted some of the most established players.

'Emerging markets' is such a weird phrase. What are these economies to which it refers emerging from, or towards, and how are they defined? (Pictured: Jakarta, Indonesia)

New cars go into reverse as diesel sales drop 20%

During May, 8.5 per cent fewer new cars were registered in the UK than the same month in 2016. But the devil was in the detail that showed private sales dropped by a substantial 14 per cent in May and diesel car sales plummeted 20 per cent compared to a year ago, the Society of Motor Manufacturers and Traders confirmed

People spent less, especially on food and petrol, but continued to splash out on cinema tickets and meals at restaurants, according to Barclaycard.

Alfa Romeo's back with a car that has a real chance of upsetting the German apple cart that's dominating the compact exec car market right now. So is the Giulia the family car you should buy?

Is investing like gambling? Could I lose everything?

What do you do if you are sick of pitiful interest rates on your savings, but are not sure about investing? How nervous should you be about making the switch and are there ways to invest confidently? Moola founder and chief executive Gemma Godfrey shares her top tips.

Can I have a smart meter fitted with my prepayment meter?

I've heard getting a smart meter could cut our energy bills, are they just for people with standard energy meters or could we get one with our prepayment meter? And if so how much would it cost and how do I get one?

Will a smart meter work with my solar panels?

I have solar panels on my home but would like to get a smart meter - is it possible to get one installed? I've heard one could cut my energy bills and means I don't need to provide manual readings but how would this work with the energy I create through the solar panels?

Online seller AO slumps as losses rise to £7million

The online-only electrical retailer's losses deepened to £7m for the year to March 31, down from a loss of £6.7m a year earlier. Revenue rose 17 per cent to £701m.

The upmarket fashion retailer, known for its printed wellies, reported a 19.6 per cent rise in overall sales to £156m, as international shoppers continued to fall for its British charm.

Christopher Bailey, the luxury brand's chief creative and chief executive officer, will receive £10.5m of shares as he reaps the benefits of a share deal struck four years ago.

The British activist investor, which already has a £9m holding in the online supermarket, claims the firm failed to live up to its growth potential.

Six countries including Saudi Arabia and the United Arab Emirates have cut ties with Qatar over its alleged support for Islamic terrorists.

MARKET REPORT: £800m investor sell-off wallops ConvaTec

Private equity investors Nordic Capital and Avista sold 171m and 79m shares respectively at 322p each, for a total of £805m. As a result, ConvaTec, which also focuses on treating conditions like diabetes, saw £265m wiped off its market value. Following the sale, Nordic still owns a 7.3 per cent stake in the firm while Avista retains a 3 per cent stake.

Richard and Graham (pictured) Cherry offloaded just over 11m shares in Countryside Properties for £3.25 each. But they still own around 15.5m Countryside shares worth nearly £50m.

British challenger bank Shawbrook said it has rejected a raised and final £868 million ($1.12 billion) offer from private equity suitors trying to take control of the lender.

How do I top up to get a full state pension?

I have 32 full years of National Insurance payments and this is currently estimated to give me a state pension of £127.61 per week. At 35 years, I would get a full pension. If I get extra National Insurance years beyond the 35 figure, will my estimated state pension continue to rise or is it capped at whatever the 35 year total is at?

You could be paying £5k a year too much on your mortgage

Millions of homeowners are throwing away as much as £5,000 a year in mortgage interest payments by failing to switch to a cheaper deal - with many borrowers blaming their apathy on a nightmare experience when obtaining the initial loan.

More than a fifth of sellers would accept an offer that was five per cent lower than the asking price if their buyer was chain free and a mortgage agreed

M&S; Bank has launched a new personal loan paying 2.8 per cent on £7,500 to £15,000, bringing it in line with best-buy deals already offered by Sainsbury's Bank and TSB.

Watch this Lego Porsche put through a real-life crash test

What happens when you sling a Porsche 911 RS made entirely from Lego into a wall at 28mph? Absolute carnage. See the collision unfold in this 3-minute clip of a scaled-down crash test. The test was conducted by ADAC - the German equivalent to the AA and RAC - to highlight how crash exams work.

Brent Crude fell more than 1 per cent towards $49 a barrel after six Arab countries including Saudi Arabia, the United Arab Emirates and Egypt severed diplomatic and transport links with Qatar.

Volvo Group and Renova are working on a truck that follows the bin man along the street as he goes from house to house, meaning he doesn't need to constantly hop in and out or have a separate driver.

Don't invalidate insurance by not securing a pet in a car

Britain is a nation of pet lovers, but our affection for dogs, cats and other furry friends could land us in hot water with car insurers. Some drivers risk invalidating their motor policies by letting pets roam free in their vehicles, uSwitch has warned. The HIghway Code dictates that animals should be suitably restrained in a vehicle at all times, whether that be in a cage, travel carrier or harness.

The airline, which previously said it had embarked on an 'exhaustive' investigation into the disaster, is asking an 'independent company' to examine the computer problems.

It is ok to carrying on using my ex's Netflix account?

Ever since we broke up I've continued using my ex's Netflix and Amazon Prime accounts. It's not costing him anything extra as I just use them to watch box sets. But should I be the bigger person and just get my own or can I wait until he changes his password?

The People's Trust, an investment trust to be set up by former Investment Association boss Daniel Godfrey, has revealed managers who will get its unusual seven-year contracts.

Shower tip could save you £160 a year on water bills

The forecast is for a long hot summer, and even though it is unlikely to break records, there are lessons from the drought of 1976 that could save you money today. Here, The Mail on Sunday explores how to cut your water bills and protect a precious resource.

I have received a letter from The Rewards Forum advertising money saving offers. The letter says I accepted membership following my Pressplay TV purchase, but I have no knowledge of this.

Spenders in Britain have embarked on a marathon borrowing binge, racking up unsecured debts of £198.4billion on cards, car finance and overdrafts, according to experts.

Hotels and resorts are battered by Brexit, say bosses

They are calling for the next Government to tackle migration to stop the industry falling off a 'cliff edge' as European Union workers desert Britain. A survey of the bosses of Britain's biggest hospitality firms, including Caffe Nero, Hilton, Travelodge, Whitbread and cruise company Carnival UK, showed confidence had plunged over the 12 months following the EU Referendum.

For British businesses the poll on Thursday presents one of the least appetising choices in living memory.

How to avoid getting caught in the credit card trap

Rising living costs mean households are increasingly turning to credit cards to get by. Bank of England data shows borrowing on plastic has reached £68billion - a 10 per cent rise in a year.

While headline prices often seem cheap, hidden costs and dubious extras bump up the price, meaning drivers frequently face paying double the original quote.

I have received numerous requests to pay an outstanding balance to ScottishPower, yet I explained that I was not the occupant of the property at the time in question.

MIDAS SHARE TIPS: Lloyds is a solid income play

With bank and building society savings rates virtually non-existent, investors are almost certainly better off buying Lloyds shares than taking out one of their savings products. At 69¼p, the price should rise, provided there are no dreadful economic shocks down the line. In the meantime, the dividend yield makes this an obvious stock for investors in search of income.

We round up the Sunday newspaper share tips. This week, Midas looks at Lloyds Banking Group, The Sunday Times analyses Auto Trader and the Sunday Telegraph assesses Aviva.

Gear4music was tipped by Midas at 139p a share in July 2015. Now at 764p, investors might be considering banking a healthy profit.

Where to invest your cash after the election

If the Conservatives win, Ketan Patel, a fund manager at EdenTree Investments, said there could be money to be made from the party's pledge to build 1m new homes by 2020. He thinks all UK housebuilders will benefit from this, but said the best stocks will be those who can take advantage of May's pledge to protect greenbelt land.

Launched in May last year, the fund has so far returned just shy of 11 per cent - a satisfactory outcome from an asset class that is out of favour.

Ross Campbell, a director at the Institute of Chartered Accountants in England & Wales, said finance experts were often only brought in after decisions were taken.

Should you invest in India? We get a top manager's view

India is an exciting investment opportunity in one of the emerging markets' strongest economies, so why do more UK investors not buy in?

JEFF PRESTRIDGE: Take politics out of our pension plans

Although Brexit will dominate the political agenda in the coming months irrespective of which party wins on Thursday, I hope the next Government adopts a more coherent policy on pension saving. Over the past five years, we have seen both Coalition and Conservative administrations snip away at the tax breaks available to those who put money into a pension fund for their retirement.

Standard variable rates are much more expensive than the cheapest rates on offer, but if you don't bother to get in touch with your bank or a broker, you won't automatically be offered another good deal.

Lindsey Chapman, the Springwatch Unsprung presenter, also reveals she is struggling to get on the property ladder in her home town of Manchester.

Rolls-Royce launches eighth-generation Phantom

On July 27, Rolls-Royce will officially take the wraps off its latest flagship Phantom model - the eighth in the illustrious line stretching back more than 90 years - at a spectacular 'The Great Eight Phantoms' exhibition in London's Mayfair.

EDITOR'S SAVINGS DEALS OF THE WEEK
For current account rewards and interest rates conditions may apply eg. using provider's full switching service, min monthly deposits and direct debits. For savings, access maybe limited, min/max deposits may apply. Always check T&Cs.; *Not FCSC protected.

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.

We asked trusted experts to recommend the best funds that cover different investment sectors - and included This is Money's selection of active and passive options too.

Rightly or wrongly, some people simply want a quick, straightforward route map to investing in an Isa. To that end, this is our distilled guide to getting started.

How much money do I need to save for my pension?

The amount you can save into a pension ultimately depends on what you can afford - but the longer you leave it the more you will need to save. We tend to put ambitious targets on our hoped-for income in retirement and then underestimate how much we will need to set aside to achieve that. So how much should you save?

Old people / couple (figurines) - sitting on a pile of money coins - savings / bills / financial / investment / pensions concept.
BH2YX5 
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Making the most of a pension is your best chance of securing a decent income when you retire. We explain what you need to know.

Even at a time when we are stretching our finances further to afford a home, moving less, and pushing mortgages beyond 30 years, we still remain captivated by two-year fixed rate deals.

When will UK interest rates rise?

The break from rising inflation is only likely to be brief and economists forecast the cost of living to continue to rise through this year. The Bank is still not expected to raise rates due to Brexit uncertainty, however, if the economy continues to fire on all cylinders the mood could shift.

What next for mortgage rates?

Mortgage rates were tipped to start rising in 2017 but so far, there hasn't been any evidence to suggest rates are about to get more expensive. Experts say borrowers sitting on their lender's default rate could save money by remortgaging now.

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

Best paid jobs and biggest pay rises of 2016 revealed

Compare your pay to the national average and see whether your employer treated you to a pay rise in line with the the rest of your profession. Farmers, care and air travel assistants were big winners on the pay scales in 2016. Travel agents, careers advisers and probation officers lost out.

   

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