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.
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.
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.
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.
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.