MONEY MORSELS

Savings fear

WORKERS aged between 18 and 35 expect to have £95,000 in their pension pot when they retire, according to Now Pensions. However, two-thirds say they haven’t started saving yet.

Scam warning

THE City regulator has frozen the assets of Brookbourne Trading Limited, saying it suspects the firm of operating a scam property fund.

Brookbourne trades from 288, Bishopsgate, London, and is not authorised by the Financial Conduct Authority to take deposits from consumers. The High Court has granted the regulator an injunction against the firm preventing it from taking any more money.

May Day open

BANKING giants RBS and NatWest are to open 34 branches on Bank Holiday Monday, May 4, from 10am to 3.30pm. Extra mortgage advisers will also be present in the branches to help customers who cannot attend appointments in the working week.

Rate chop

VIRGIN Money has cut the rate on its five-year, fixed-rate mortgage to 4.89 pc under the Government’s Help to Buy scheme. Homebuyers can borrow up to £475,000 with a 5 pc deposit. There is a £99 fee. Monthly repayments on £150,000 are £867.

Flood fall

HOME insurance premiums have dropped by nearly 10 pc over the past year, or £17, according to the AA. The average buildings and contents premium is £158.66 a year. The AA said the fall was due to fewer claims because of the lack of flooding over the winter and tougher competition among firms.

Rent hike

RENTS paid by tenants in privatelyowned properties rose by 2.1 pc in the 12 months to March 2015, a new index from the Office for National Statistics shows.

Driver boost

PETROL consumption plummeted in March after a 5p price hike. Figures from the AA show demand for fuel in the month fell to the lowest level recorded. The average price of a litre of petrol was 111.68p in March, compared with 129.57p a year ago.

Energy control

FIRST Utility is to give customers a free portable home heating thermostat if they sign up to its three-year fixed-rate iControl tariff.

The energy company says the thermostat — which can be carried between rooms to check temperatures — could cut up to £165 from heating bills.

Cuts ahead

HALIFAX has reduced the rates on some of its mortgage products for those with small deposits of 15 pc to 20 pc. A five-year fix for either firsttime buyers or home movers has been cut to 4.69 pc, with a £495 fee. Total cost over the deal on a £150,000 loan would be £51,495.