Stephen Little

Britons underestimating their life expectancy face retirement poverty

Britons underestimating how long they might live could end up in poverty when they retire, research reveals.

People are living five years longer than they think they might, and could end up facing an £80,000 short-fall in retirement savings, according to pension provider Scottish Widows.

The average life expectancy of UK adults saving for retirement is 87 years, yet the average adult expects to live until 82 and retire at 65.

This means that a typical retirement is 22 years longer than most people expect.

Sluggish house price growth as Brexit weighs on the market

Annual UK house price growth is at its lowest level in six years in a further sign that Brexit is weighing on the market, figures show.

House prices rose 1.1% year-on-year in September, down from 1.8% in August – the lowest rate of growth since April 2013, according to the latest Halifax house price index.

On a monthly basis, house prices fell by 0.4%, taking the average price of a property to £232,574.

Downsizing versus equity release – which is best for you?

Saga and Goldman Sachs launch savings accounts for the over-50s

Saga has teamed up with Goldman Sachs to offer two new savings accounts for the over-50s.

The over-50s provider now offers an easy-access savings account paying 1.4% and a one-year fixed saver paying 1.15%.

While the accounts are opened with Saga, they are managed by Goldman Sachs.

The accounts provide membership access to Saga’s Possibilities programme, which offers discounts on food, travel, events and competitions.

Brexit leaves housing market at a standstill

UK house price growth is at its lowest since January as buyers and sellers remain cautious amid Brexit uncertainty.

House prices rose just 0.2% in September, according to data from the Nationwide House Price Index, the 10th month in a row in which annual price growth has been below 1%.

On a monthly basis, house price growth fell by 0.2%, taking the average UK house price to £215,352.

Where next for house prices?

With the dramatic rise in bank transfer scams, here's how to stay safe

Bank transfer scams have risen 40% in the past year, with millions of pounds being stolen each day, new figures reveal.

Scammers stole £616 million from UK bank customers in the first half of 2019, according to UK Finance.

Of this, a total of £207.5 million was lost due to authorised push payment (APP) scams, where people are duped into authorising a payment into another account.

This was 40% up on the £148.2 million from a year ago, although UK Finance says the figures are not directly comparable as more banks now share their data on scams.

In numbers: UK bank branch closures reach ‘alarming’ level

More than a third of UK banks have closed in the last five years while others have reduced their opening hours, a new report reveals.

Banks are shutting down branches at an “alarming rate”, with 3,303 bank closures between January 2015 and August 2019 – around 34% of the network, according consumer group Which?.

‘Never-ending Brexit saga’ weighs heavy on house prices with more falls expected

The “seemingly never-ending Brexit saga” is continuing to bring property prices down, with sales expected to fall even more in the coming months, according to surveyors.

The Royal Institution of Chartered Surveyors (RICS) says that Brexit uncertainty is having a significant effect on sales, causing hesitation for buyers and sellers.

RICS’s residential market survey found a net balance of 24% of surveyors expect prices to drop in the next three months.

Where next for house prices?