Finance in the News – w/c 11.05.20

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

FINANCIAL TIMES

“Teaching children about money in lockdown”
Financial education has an important role to play to prepare children for an uncertain future.
“Bonus restrictions hamper City mortgage borrowers”
Lenders reluctant to count payments as affordability checks tighten.
“HMRC launches coronavirus income support scheme for self-employed”
Cash from successful claims could reach bank accounts by end of the month.
“Investors row back on ethical principles, research shows”
Many put a company’s economic recovery before ESG commitments in coronavirus crisis.
“Renters and self-employed hit hard by Covid-19 lockdown”
A third of self-employed reported working reduced hours during the first two weeks of lockdown.
“Investors: never let a crisis go to waste”
Covid-19 underlines the folly of investing in equities for income.

THE TIMES

“The great bank hold-up: 54 weeks to get your money back for fraud”
Some fraud victims duped into transferring money to scammers’ accounts are having to wait more than a year for their banks to resolve complaints about the way they were treated.
“Credit costs soar despite rock-bottom base rate”
Banks have increased the rates they are charging for credit cards, despite cuts to the Bank of England base rate and the widespread financial problems caused by the coronavirus.
“The government must do better for the bereaved”
The government has been urged to “get a grip” on the way banks, utility companies and its own departments treat people who have lost loved ones.

THE TELEGRAPH

“Why the cost of your hotel or Airbnb could double after coronavirus”
New safety measures, including decontamination periods and lower occupancy, may force accommodation providers to hike their prices.
“Eight ways landlords can safeguard their buy-to-let business in lockdown”
Buy-to-let landlords have recently been pummelled with a lethal cocktail of tax rises, changes to mortgage interest relief and falling yields. And then came coronavirus.
“Coronavirus has turned Britain into a nation of savers squirrelling away £162 a week”
Savings deposits were up by £13bn in March alone.

THE GUARDIAN / OBSERVER

“How to save in lockdown … from buying chairs and laptops to car insurance”
We may be spending less by not travelling to work, but with an uncertain future it’s time to take stock of personal finances.
“We need a coronavirus mortgage strategy as well as an exit one”
From payment holiday extensions to a better welfare net, here are a few ideas for government.

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Source: https://www.techlink.co.uk/</a