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Property further out of reach for Northern buyers

The property divide between Northern and Southern England is closing says new research from National Savings and Investments.

First time buyers in Scotland and the North of England have seen a nine month increase in the amount of time it takes to save a deposit for a home over the last year, from three years and nine months to four years and six months.

NS&I says first time buyers are facing a much longer wait in the North although the South of England remains the hardest place to save for a home with London buyers taking an average of four years and nine months to get a deposit together.

NS&I senior savings strategist Dax Harkins says: “It is concerning to see that it now takes all UK first-time buyers over four years to save for a deposit for their first home. With incomes and savings rates continuing to lag behind house price inflation, this means potential first-time buyers need to start saving sooner and harder to get into the market.”


‘Nanny state approach to solving the crisis’

The Turner report is a “nanny state” approach to solving the UK pension crisis, says Positive Solutions chief executive David Harrison. Harrison rejects the Nat-ional Pension Savings Scheme, saying it only serves to absolve individuals from the responsibility of managing their pension arrangements and the cost to business will hinder the UK’s competitive edge in […]

‘NPSS could impair existing schemes’

The Association of Consul-ting Actuaries believes the report is too complex and the NPSS could undermine existing schemes already offering a better solution.

Standard Life launches Group Sipp

Standard Life launches its group self-invested personal pension to employers looking to review their scheme arrangements in advance of A-Day next year.Several investment options will be available including residential property from April 6, as well as Standard Life mutual funds, stocks and shares, discretionary fund management and commercial property investment.GSIPP, due to launch in January […]

CII re-launches enhanced learning package for CII

The Chartered Insurance Institute is re-launching an enhanced learning package on payment protection insurance in light of recent investigations from the FSA.The new package will provide an online assessment of knowledge of the product and will be available from early 2006.The FSA was predominantly concerned with the poor disclosure of product and price details, failure […]


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