POUND NOTES

BANK IS DEVELOPING ‘CROWD DESIGNED’ MORTGAGE

TANDEM BANK says it’s developing a ‘crowd designed’ mortgage – and wants UK consumers to be part of the process by sharing their mortgage “must-haves”.

Feedback will be fed into the design, which will then be tested with a small group of customers by the end of 2019 before a full UK launch in 2020.

PEOPLE WITH MENTAL HEALTH PROBLEMS ‘RISK FINANCIAL ABUSE’

PEOPLE with mental health problems are being exposed to potential financial abuse, a charity claims.

Two-fifths (43%) of people with mental health problems have let someone else use their credit or debit card, and a fifth (19%) do so on a weekly basis, according to the Money and Mental Health Policy Institute, which was set up by consumer champion Martin Lewis.

It said many people with mental health problems are resorting to “risky quick-fixes” to get support from friends and families, which are leaving both them and their carers vulnerable to fraud or legal difficulties.

FAMILIES FACE 3% ANNUAL RISE IN HOLIDAY CHILDCARE PRICES

HOLIDAY childcare prices have increased by

3% across Britain since last summer, with working parents facing a typical bill of more than £800 to cover the costs per child for six weeks, according to a survey.

The average cost of one week of holiday childcare is £138 per child, which could total £828 over a six-week summer break, Coram Family and Childcare’s 15th annual holiday childcare survey found.

Children and Families Minister Nadhim Zahawi said: “We know some parents struggle with the cost of childcare, which is why we are spending around £3.5bn on our early education offers this year alone.”

FINANCIAL FACT: The Bank of England has unveiled Alan Turing as the next character to appear on the £50 banknote. The bank’s latest statistics show there are 344 million £50 notes in circulation with a combined value of £17.2 billion.