MONEY MORSELS
Car loan fears
ALMOST half of drivers are struggling to afford their car loan deals, according to research by the RAC. One in ten has even handed back their vehicle early as they cannot afford the payments, while one in 20 said they had to work more hours to make ends meet. A fifth of drivers said they had felt under pressure to accept the finance offered by their dealer.
Lending boom
OLDER homeowners released a record £3 billion from their homes last year in a new lending boom. Baby Boomers are increasingly using their homes to help fund retirement as the amount of money over-55s borrowed against their properties last year rocketed by 40 pc, according to retirement advice firm Key Retirement. With equity release loans interest rolls up and the loan is repaid when the property is sold.
Retirement boost
PENSION funds grew by 10.7 pc on average last year, according to figures by data firm Moneyfacts.
This is a slight fall on the 15.7 pc recorded in 2016 but an increase on fund returns in 2015 and 2014. Out of all the funds surveyed 95 pc benefited from positive growth, the report found.
Calls abandoned
MORE than a million calls to a phoneline set up to help recipients of universal credit were abandoned without answer between September 2016 and October last year, according to Government figures. The revelation sparked fears that claimants of the benefit give up on their calls before getting through. The Government insists calls were answered within five minutes on average in December.
NatWest alert
FRAUDSTERS are duping NatWest customers into handing over financial details by sending fake texts which appear alongside genuine messages from the bank.
The messages include links which lead to a fake NatWest website where victims are asked to enter PIN and bank details, allowing fraudsters to raid their accounts.
Ditching property
A FIFTH of landlords plan to offload properties in the next year as a result of tax hikes, say the National Landlords Association. In the past 18 months, buyto-let property owners have been hit by a 3pc stamp duty hike on new purchases and the staggered withdrawal of tax relief on mortgage interest payments at the rate they pay income tax.
Data hack
CARPHONE Warehouse has been fined £400,000 for a data breach in 2015 where the personal details of more than three million customers and 1,000 staff were put at risk. These included names, addresses, dates of birth, phone numbers and credit card details.