POUND NOTES
MORE THAN 50% OF UNPAID CARERS ‘UNABLE TO SAVE FOR RETIREMENT’
MORE than half of unpaid carers are unable to save for their own retirement, a report by Carers UK has found. More than two-thirds (68%) are also dipping into their own income or savings to help cover the costs of caring for someone else, according to the charity.
The survey of more than 7,500 people across the UK who are caring unpaid for family or friends found that 53% are unable to save for retirement.
MORTGAGE BORROWERS ARE 2019’S PERSONAL FINANCE ‘WINNERS’
PEOPLE searching for a mortgage are the big personal finance ‘winners’ of 2019 so far, with the typical deals on offer having improved since the start of the year, according to analysis.
However, savers and those looking to take out an interestfree credit card may find they get a worse deal than they would have done six months ago, analysis from Moneyfacts.co.uk found.
The website said that, halfway through the year, the mortgage rates on offer have generally improved since January.
Average two-year, five-year and 10-year fixed mortgage rates have all tumbled.
WOULD YOU ALLOW A CHATBOT TO ANSWER FINANCIAL QUERIES?
MORE than third (35%) of financial services customers would prefer an instant response from a chatbot to waiting to speak to a human, a survey suggests.
Law firm Pinsent Masons and financial technology membership association Innovate Finance quizzed 800 people.
However, six-in-10 (60%) said that if something went wrong when using an AI programme or chatbot, then they would instantly want human contact.
FINANCIAL FACT
ANNUAL growth in consumer credit slowed to a five-year low in May, according to Bank of England figures. Consumer credit, which includes borrowing using personal loans, overdrafts and credit cards, increased by 5.6% annually in May.
It was the lowest rate since a 5.5% increase in April 2014.