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Viewing entries posted in October 2015

GDP growth falls to 0.5% in Q3

Posted by MMB Finance Swindon and Gloucester on 28 October 2015

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GDP is estimated to have increased by 0.5% in Quarter 3 2015 compared with growth of 0.7% in Q2, according to preliminary ONS estimates. Main factors for the slowdown included construction output, which decreased by 2.2%. Services increased by 0.7%, production increased by 0.3% and agriculture increased by 0.5%. Within production, manufacturing fell by 0.3% but this fall was offset by a 2.4% increase in Mining and Quarrying and a 1.2% increase in water and waste management. GDP was 2.3% higher in Quarter 3 compared with the same quarter a year ago.

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Majority of interest-only homeowners face repayment struggle

Posted by MMB Finance Swindon and Gloucester on 23 October 2015

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Almost three-quarters of homeowners with interest-only mortgages are worried they may not be able to repay their loan, according to research. Just 31% of those interest only borrowers questioned said they have a separate investment policy in place, such as an endowment or an ISA, to pay the capital.

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life-insurance companies penalising E cigarette smokers

Posted by MMB Finance Swindon and Gloucester on 22 October 2015

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It's no secret that smoking tobacco isn't great for your health. But when it comes to the world of insurance, it's always been a little more complicated. When you're young, and buy your first life insurance policy, being a smoker can be costly. In fact, it's likely to double your premiums. Same goes for any other kind of protection insurance - like critical illness cover or income protection.

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First-time buyer prices surge 10% as demand intensifies

Posted by MMB Finance Swindon and Gloucester on 19 October 2015

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October saw a new all-time high of £296,549 for the price of property coming to market, fuelled by high demand for first-time buyer properties, according to the latest Rightmove house price index. Two bedrooms or fewer properties are now at their highest price ever, an average of 9.6% (+£16,105) more expensive than a year ago, far outstripping the overall annual rise of 5.6% for all property types.

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Average IHT bill tops £170,000

Posted by MMB Finance Swindon and Gloucester on 14 October 2015

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Estates liable for inheritance tax in the UK in 2012-2013 faced an average bill of more than £170,000 each - an increase of almost £5,000 or 3% according to analysis of HMRC data by Prudential. The 2012-2013 tax year saw inheritance tax paid on 17,900 estates with a total bill of £3.05 billion – a 15% increase on the £2.65 billion total paid in the previous tax year.

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