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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