NS&I is increasing the number of Premium Bond prizes it pays out every month. It is increasing the prize fund rate from 1.4 to 2.2%. It means that from October, the monthly odds of winning for every £1 invested will improve to 24,000 to 1, adding an expected £76m to the prize fund.
What to do if you need a mortgage amid the rate chaos: We explain what to do if your fixed rate is ending or you've agreed to buy a home
The mortgage market has been thrown into disarray by the fallout from the radical mini-Budget and the falling pound. Some mortgage lenders have responded by pulling up the drawbridge and taking an axe to their range of deals available, while they wait for the uncertainty to settle down. We explain what you need to know and what those who need to find a new mortgage because their fixed rate is due to end or they have agreed a house purchase should do.
BUSINESS LIVE: Biffa agrees £1.3bn sale to private equity; Balfour Beatty handed £4bn engineering contract; Saga cuts profit forecasts
The FTSE 100 is up 0.3 per cent in afternoon trading. Among UK companies with reports and updates are AG Barr, Dominoes, Balfour Beatty, Card Factory, SSE, Saga and SSP. Balfour Beatty has been appointed as the sole contractor to the SCAPE Civil Engineering and SCAPE Scotland Civil Engineering frameworks, with the FTSE 100 infrastructure group set to net up to $4billion in total for the work.
What is diversification and why is it vital for investors? From reducing risk to improving long-term gains, here's how it can pay off
It's tempting to dream of that golden investment that could be a surefire winner, but when it comes long-term success it's vital to diversify and spread your risk. That's because while you might get lucky and find that an individual company's stock does spectacularly well and brings you great rewards, there is also a very high risk involved in backing just one or a small number of investments.
Second steppers hunting for larger homes drive asking prices higher - and stamp duty cuts could trigger further demand, says Rightmove
The average asking price for a UK home rose by 0.7% this month to £367,760, reversing a 1.3% fall witnessed in August. Rightmove said the market remained 'surprisingly resilient' and that the stamp duty cuts announced in the Mini-Budget could stimulate more demand - and push prices even higher - in the coming months.
Energy crisis inflates electric car running costs: Drivers hit by 42% hike in price to use public charging points in just FOUR MONTHS
The RAC said the average pay-as-you-go rates to use the nation's network of chargers with the fastest speeds has increased by 18.75p per kilowatt hour (kWh) since May, reaching 63.29p per kWh last week. This rise - caused by the soaring wholesale costs of gas and electricity - has made it nearly £10 more expensive to rapid charge a typical family-sized electric car to 80%.
Will first-time buyers be better off thanks to the stamp duty cut? How new home owners buying expensive properties could save up to £11,250
Homebuyers are celebrating after Kwarteng took an axe to stamp duty in his mini-Budget on Friday. Movers will save up to £2,500, and 200,000 more homebuyers every year will pay no stamp duty at all. As well as putting money back in the pockets of buyers, Kwarteng said he hoped the move would 'support growth, increase confidence and help families aspiring to own their own home'. Here's how it will work...
Why thinking long-term pays off for investors: How Monks invests around the world to find different types of growth
Growth investing may mean different things to different investors but one of the universal keys to success is to think long-term, believes long-standing investment trust Monks. Managed since 2015 by Spencer Adair and Malcom MacColl, Monks investment trust enables shareholders to invest for growth all around the world at a low cost, with an ongoing charges figure of just 0.4 per cent.
Nine million low and middle-income earners to be hit by £46bn 'stealth tax' after Chancellor fails to reverse four-year freeze on tax bands
Kwarteng portrayed his package as a tax-cutting mini-Budget - but pressed ahead with a bombshell tax raid sneaked in by his predecessor Rishi Sunak. The extra money raised through the freeze will dwarf cuts in the basic and higher tax rates. In a little-noticed measure in Sunak's Budget in March last year, the amount at which people begin paying tax was frozen at the 2021/22 level of £12,570.
Interest rates set to hit 5% next year as Bank of England forced to step up fight against inflation after Kwasi Kwarteng's £45bn tax-cutting bonanza
Analysts think rates must rise more than previously thought as the mini-Budget boosts the economy - and inflation. Rates have already risen from 0.1 per cent to 2.25 per cent since December. And investors are betting they will reach 5.25 per cent next year, their highest level since 2008. The move could even include a one percentage point rise at the next meeting of the Monetary Policy Committee in November.
MIDAS SHARE TIPS: US farms could reap you returns of 9% - that's far from small potatoes! And so could homes for the needy
Flotations have been in short supply this year. In the first nine months of 2021, 86 companies floated on the stock market, raising almost £14billion. This year, there have been just 34 deals raising less than £1.2billion. Now there are signs of change. Two new companies, Sustainable Farmland Trust and Independent Living Reit, are hoping to join the market in the next few weeks, both slightly unusual but offering generous dividends, a hedge against inflation and the chance of long-term growth as well.
What does the tax-cutting mini-Budget mean for you? This is Money podcast on Kwasi Kwarteng 'betting the house'
Britain's new Chancellor Kwasi Kwarteng delivered a blistering mini-Budget this week that was anything that small. A wave of tax cuts were unleashed. Some had been heavily trailed, such as NI and stamp duty, but there were also two rabbits out of the hat on income tax. The team discuss what the going for growth mini-Budget means for people, how much they may save in tax, and whether it will work or cause the UK economy even more problems down the line.
The seven best supermarket loyalty schemes: From Waitrose to Lidl... are they any good and what are the best strategies to maximise savings?
As the rising cost of groceries hits a 14-year high of 13.1%, households are desperately seeking ways to cut their bills. The hike of the Bank of England base rate to 2.25% last week will pile even more pressure on household bills, by pushing up mortgage and loan payments. But reward schemes vary wildly in generosity and change frequently. For example, from November, Sainsbury's is slashing loyalty rewards for 1.8m of its credit card holders. We compare the top loyalty schemes and reveal the best strategies to maximise savings.
The firm's VX4 aircraft (pictured) took off for the first time over the weekend in what the company said was a 'significant milestone' in its effort to have the plane fully certified by 2025. In extensive testing in coming months the company hopes the VX4 will be able to carry four passengers and travel at speeds of up to 200 miles per hour.
A stamp duty cut may sound crazy right now but maybe it's always a good time to sort out a bad tax, says SIMON LAMBERT... just don't make it a holiday
It's not necessarily the best time to cut stamp duty: house price inflation is in double digits, we're still recovering from an ill-timed tax holiday that stoked the pandemic boom, and the Bank of England is busy hiking interest rates to try to dampen the economy. But stamp duty is a bad tax that deters people from moving home and inhibits economic movement, so we need a proper overhaul and not another distorting holiday.
The cheapest cars for new drivers to insure: Top 10 is revealed as the first year bill for a young motorist to get on the road rises to £6,574 in 2022
The average total for taking lessons, passing a driving test and then buying, insuring and running a first car is now £6,574, according to GoCompare - that's the highest it has been since before the pandemic. To help motorists choose which models they should be considering for their first motor, it has revealed the top 10 cheapest cars to insure for a young driver between the ages of 17 and 21. They include (clockwise from top left) the Skoda CitiGo, Seat Mii, Hyundai i10 and VW Up!.
My ex-partner took out £126k of fraudulent loans in my name and is now in jail: Why won't NatWest write-off the £40k mortgage he acquired?
In 2018 I discovered my then partner had taken out fraudulent loans in my name without my permission. Much of it was big high street banks and have been written off. However, he took out a £40k mortgage against the house I was gifted by my aunt which has snowballed to £51k. I live in it with my 9 year-old child and I'm worried it'll be repossessed. Can you help?
Former Liberty X singer Michelle Heaton tells ME & MY MONEY: 'I once earned £20k sitting in a yogurt bath!'
Heaton got into debt during the Covid lockdowns and came close to needing to sell her home and downsize. She says she was unable to earn for almost two years, when the pandemic shut down the entertainment industry. But the 43-year-old has now turned her life around and set up a business, Mission Possible Wellness, to help people achieve healthy and active lifestyles through movement, nutrition, mindset, sleep and motivation.
How to get in pole position to sell your home in 2023: Ten tips if you choose to wait and update rather than list this year
Energy price worries, double-digit inflation, strikes, war and a new government - there's a lot going on right now and it's all beginning to sap the confidence of sellers and buyers. The market is still robust, with Halifax this month reporting that house prices are 11.5% higher than a year ago, and the typical home now costs a record £294,260.
Choosing the right DIY platform is crucial but a wealth of choice and a variety of charges can leave investors scratching their heads. We pick some of the best. We pick some of the best. We also highlight why investing in an Isa makes sense, as it should protect your hopefully growing investments from tax forever.
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