Temie Laleye

2 days ago | gbnews.com | Temie Laleye

Millions of savers are holding out hope for a Premium Bonds win, but new findings suggest most may be waiting far longer than expected. Despite widespread belief in quick returns, the real odds of a timely prize are more sobering. Premium Bonds holders typically wait three and a half years before winning their first prize, challenging widespread expectations of quick returns, new research from Octopus Money reveals.

2 days ago | gbnews.com | Temie Laleye

Relaxed mortgage stress testing rules could add £19,000 to average UK house prices over the next five years, new reports have shown. The changes could cause property prices to increase by between five per cent and 7.5 per cent during this period. According to research by estate agent Savills, adjustments to lending practices could boost first-time buyer transactions by between 14 per cent and 24 per cent, potentially helping more than 80,000 additional buyers onto the property ladder.

2 days ago | gbnews.com | Temie Laleye

The Pension Schemes Bill marks the Government's first major step in overhauling the UK’s retirement system, but experts have warned the most urgent issue has been left off the table. With key issues left on the "back burner," millions of savers are facing a shortfall in retirement. The new Bill, introduced on Thursday June 5, includes a series of measures that will shape the future of retirement savings.

2 days ago | gbnews.com | Temie Laleye

The Treasury is exploring a system that could see bereaved families pursued for winter fuel payments made to pensioners who die before the money can be recouped through tax, according to reports. Under the proposed approach, the Government would restore winter fuel payments as a universal benefit but then claw back up to £300 from wealthier pensioners through their tax returns. However, Government insiders have raised concerns about the implications of the time lag between payment and recovery.

2 days ago | gbnews.com | Temie Laleye

HM Revenue and Customs has disclosed that approximately 100,000 taxpayers' online accounts were targeted in a major phishing attack last December. The attacks were orchestrated by organised crime groups and resulted in £47 million in fraudulent repayments. The tax authority revealed the breach on Wednesday whilst its chief executive, John-Paul Marks appeared before the House of Commons Treasury select committee.