MONEY MORSELS

Seaside debt rise

THE seaside towns of Torquay, Scarborough and Penzance have the highest rates of personal insolvency in Britain, according to figures from credit reference agency Experian.

Torquay tops the list — with 19 out of every 10,000 households being declared insolvent in the last quarter of 2014.

New mutual

A NEW has been launched after two organisations joined forces. The business, called One Family, is made up of the merger of Family Investments — renowned for child savings — and Engage Mutual.

It is expected to serve one in 12 families in the UK.

Driving up costs

CAR insurance premiums for drivers under 21 are nearly four times as expensive as for those aged 50 to 64.

The typical policy costs £1,422 for a young driver, compared with £299 for older motorists, analysis from Compare The Market shows.

Cancer ad ban

BUPA has been ordered to remove a television advert that suggests cancer patients are more likely to survive if they have private health insurance.

The Advertising Standards Authority (ASA) said that although the TV advert did not explicitly state this, a customer’s claim that the cover probably saved their life suggests the firm’s cancer services are superior to those of the NHS.

£50 for over-50s

POST Office Money has launched a home insurance policy exclusively for the over-50s. It promises to beat the customer’s renewal quote by at least £50.

Digital training

LLOYDS Bank is training extra staff to help customers improve their computer skills and manage their money online.

It aims to have 20,000 so-called Digital Champions in branches across the UK and elsewhere in the business by 2017.

16-month perk

HALIFAX has launched a 16-month fee-free balance-transfer credit card for online customers — though those with poorer credit scores may only be offered a nine-month deal.

Customers will also get six months interest-free on new purchases.

Micro-cap fund

RENOWNED fund manager Gervais Williams is launching a micro-cap fund later this month.

The new fund will focus on so-called micro-cap firms, which are worth less than £150 million, and those listed on the Alternative Investment Market.

Home truths

EIGHT in ten 20-to-45-year- olds believe that banks don’t want to lend to first-time buyers.

And one-fifth believe it is almost impossible to obtain a mortgage, according to a survey by the Halifax.