Finance in the News – w/c 07.06.21

Short summaries of recent articles we think you will find useful from some of the UK’s broadsheets.

FINANCIAL TIMES

Neil Woodford: two years on, the unanswered questions
More than 300,000 investors are still waiting for answers.
Home movers overtake first-time buyers to drive housing market
Mortgage completions by movers up by 82% in first quarter of 2021.
Compensation boosted for pension transfer victims
Pay-outs uplifted in 126 cases, totalling £1.5m.
UK house prices rise at fastest rate since 2014
Growth in May surpasses expectations driven by stamp duty holiday and demand for larger properties.
UK pension schemes wary of push for ‘illiquid’ investments
Managers fear government proposal will see savers lose money through higher fees.
Red-hot Cornwall points to rapid economic recovery
Investors should prepare for growth and watch out for inflation.

THE TIMES

More than a million investors overcharged by their fund manager
They can seem impossible to unravel, but high fees make a big dent in your savings, so find out what you are paying.
Moving on up: more mortgage choices for first-time buyers
People buying shared ownership homes can now get a mortgage from Virgin Money.
Taxpayers count the cost of Covid
The amount of tax owed by those having difficulty paying went up more than 750% in the first three months of the year.

THE TELEGRAPH

How to turn £50k into £250k: the ultimate plan for investors under 30
Investment plans to help young savers grow their money.
Money Makeover: ‘How do I spend my £520k pension without paying any tax?’
Hugh Hamil will pay income tax if he withdraws more than £12,570 – but there is a solution.
Buy a country house and earn thousands from the wedding boom
It’s wedding season – and competition is higher than ever.

THE GUARDIAN / OBSERVER

UK house prices ‘likely to keep rising despite hitting record high’”
Halifax says average selling price rose by almost £22,000 year on year in May as stamp duty deadline nears.
Over 50? It’s not too late to start saving in a pension
Many do not have enough in the pot, and Covid has added to the problem – but there are always options.

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Other News

How much for a comfortable retirement?

Couples typically need £26,000 and single people need £19,000 a year for a comfortable retirement, new research reveals.

State pension underpayments for women

The state pension has been underpaid for an estimated 200,000 women, and Britons are being urged to check their entitlement.

House prices set to keep on rising

House prices are likely to continue rising for some time despite hitting a new record high in May, one of Britain’s biggest mortgage lenders has said.