Money

Three jailed for fake £1 coins plot

Press Association — 2013-05-22T04:00:00+00:00

Three forgers have been jailed for what police believe is the largest ever plot to make fake pound coins in the UK, some of which may still be in circulation.

Kevin Fisher, 53, from Goffs Oak in Hertfordshire, was sentenced to seven years in prison at Southwark Crown Court for his role as ringleader of the scam, Scotland Yard said.

Co-conspirator Daniel Sullivan, 28, from Hornchurch, east London, received three years, and another man Mark Abbott, 44, from Edmonton, north London, was given two years.

They were behind what is thought to be a record number of fake coins, which were discovered after an undercover police operation in May last year.

More stories

Permalink | Email this | Linking Blogs | Comments

One in three lack future financial plans

Chris Wheal — 2013-05-18T02:37:00+00:00

Filed under: Savings & ISAs

Nearly one in three of us have no idea know how we will finance our old age.

NS&I's latest Quarterly Savings Survey has revealed that just under a third of Britain's adults (31%) do not know how they will finance their needs in later life. This includes long-term illness, nursing home or care fees or looking after partners, parents and siblings.

Thinking about the future

The survey estimated that 26.7 million adults in Britain (54%) have started thinking about their financial needs and just over a quarter (27%) of these have actually started to put financial plans into practice.

The more than a quarter of Britons (27%) who have yet to consider financial planning in later life admit they do not want to think about such events. Some 23% say they simply have not had time to think about their later life financial needs, and just under a fifth (19%) prefer to take a short-term view of their finances and use the money they have for the present.

A further 12% don't consider that this situation will affect them in the near future and believe they will have plenty of time to consider such planning going forward, while 7% of Britons do not consider later life financial planning as important.

Some 43% of Britons who have yet to consider their financial planning in later life admit to having no idea how to finance such needs.

Planning is everything

John Prout, NS&I retail customer director, said: "Planning financial needs for later life requires careful consideration in plenty of time. Understandably many people don't like to think about growing older and the possibility of needing long-term care one day. It can be a distressing and emotive issue to talk about.

"But with people living well into their eighties, many more of us are likely to need care in the future, and are likely to need to care for others also. Getting the right information as early as possible is to vital to making sure you get the best possible care you can in later life."

Tish Hanifan, chairman of the Society of Later Life Advisers (SOLLA), said: "This research reflects the experience of many specialist later life advisers whose clients are primarily concerned with being able to both enjoy their retirement and continue to be able to make choices around their care needs.

"Undoubtedly the way to achieve this is to begin to factor the costs of having the kind of retirement you want into your financial planning as early as possible. An important starting point is for the consumer to have access to as much information as possible. Informed consumers are best able to make the right choices."

Why do you think it's important to consider financial needs in later life?

I want to be happy in my later life and not have decisions taken out of my hands 48%
I want to plan my financial matters in a calm manner so that rushed decisions aren't made at a stressful time 39%
I want to make my children aware of such matters 23%
I want to help my family's financial planning going forward 21%

Planning financial needs for later life requires detailed and careful consideration, allowing plenty of time, as the options available and the cost of care increases. The average age that Britons believe they should consider later life financial matters is 37.

Although just 27% Britons are preparing for later life needs, almost half (48%) believe that it is important to plan for such necessities so that their later life is enjoyable and they have control of important decisions.

A third (33%) of Britons endeavour to make plans early just in case things unexpectedly take a turn for the worse, (23%) want to make their children aware and educate them of planning such events, while just over a fifth (21%) want to help their family's financial planning going forward.

Caring for others

While planning for your own care is important, an increasing number of Britons are finding that it is not just themselves that they will have to look after in the long-term.

A fifth (20%) of British adults say they either already care for, or expect they will need to care for parents in the future, 12% care or expect to care for their child/children, and 11% say that in their retirement they will need care for another family member.

As many as 44% of Britons feel prepared for this added responsibility, and either are or will be able to finance this care alongside their own living costs, with men (47%) increasingly more confident than women (40%).

More than a third (35%) felt comfortable that they will budget accordingly, and 18% either are or will save on a monthly basis to provide for these needs.

How do you/will you finance the care you will provide alongside your living costs?

I budget/will budget accordingly 35%
I rely/will rely on the persons concerned pensions and benefits 25%
I have had/will have to make financial sacrifices of my own in order to fund care for others 23%
I put/will put aside a set amount each month in a savings account 18%
I rely/will rely on the persons concerned savings 18%
I rely/will rely on a carers allowance 18%

A quarter (25%) of Britons who care for or need to care for others will rely on the persons concerned pensions and benefits while (23%) said that they would need to make financial sacrifices of their own in order to fund care for others.

Financial planning

NS&I's research has also revealed that almost half of Britons (48%) have not or do not intend to seek advice regarding their later life financial planning.

Just over a fifth of Britons (21%) have approached or would approach a financial adviser in their method to planning their later life needs, while 13% would approach friends/relatives for advice. In addition 9% would consult their parents for advice and 9% would consult the Citizens Advice Service.

Permalink | Email this | Linking Blogs | Comments

New Cash ISA from Newcastle Building Society pays 3%

lovemoney.com — 2013-05-17T09:00:00+00:00

Filed under: Savings & ISAs

Save regularly to nab a leading easy access ISA rate from Newcastle Building Society and the chance to earn up to £1,000 cashback.

There aren't many Cash ISAs that can boast a tax-free return of 3% right now.

Rates have dropped off significantly since the start of the new tax year in April. In fact, one of the only deals left that offers this rate is a five-year fixed rate ISA from Virgin Money.

But that's no use if you don't have a lump sum to stash in it straight away.

One untapped resource is the ISA regular saver. And one new version will pay you a cracking rate of 3%.

3% Geordie gem
With the Newcastle Big Home Saver ISA you can deposit between £1 and £500 a month, up to the annual Cash ISA savings limit of £5,760.

The account pays 2% AER on savings and allows unlimited penalty-free withdrawals.

But each month you make an investment and don't make any withdrawals the building society will top-up the account with a 1% bonus.

The Big Home Saver ISA doesn't allow transfers of any previous year's ISAs, but it does offer a further cash incentive for those that want to use what they save to buy a home.

Cashback bonus
If you manage to save between £5,000 and £9,999 and use the pot to buy a home by taking out a mortgage with the Society you will get £500 cashback.

For those that save £10,000 or more the cashback reward rises to £1,000.

But you don't have to use your pot in this way.

If you don't get a Newcastle Building Society mortgage, you just don't get the cash reward, but you get to walk away with savings that have been earning the best rate around.

Getting the best deal
As the Newcastle Big Home Saver ISA is a regular savings account the interest you receive will be significantly less than that earned on a lump sum investment after one year.

If you save £480 a month into the Big Home Saver ISA, you will only earn 3% on the full cash ISA limit of £5,760 in the 12th month.

So you might think you would be better off with a normal easy access ISA that pays a bit less. But if you weren't able to invest a lump sum and were only able to use regular payments for the account that wouldn't be the case.

The top rate going on an easy access Cash ISA is 2.3% from Cheshire Building Society. If you were to regularly save £480 a month in this account you would earn £71.51 in interest.

But using the Newcastle Big Home Saver ISA you will get a beefier £93.18.

Of course if you have a lump sum investment, the Cheshire deal pays more - £132.48 after a year.

But you could also try a drip feed approach where the lump sum sits in another top savings account and is fed into a regular ISA saver - ensuring your money is earning the most interest at any one time.

You won't be able to do this with another Cash ISA but check out the latest instant access savings accounts to find one that can help.

Regular saver ISAs
Currently the Newcastle Big Home Saver beats normal easy access, notice and one- to four-year fixed rate Cash ISAs on interest rates.

But how does it match up with other regular saver ISAs?

According to Moneyfacts there are only six of these types of deals currently available. They are detailed in the table below.

Account	Term	Interest rate AER	Min/max regular deposit	Access	Need to know
Nottingham BS Starter ISA Issue 3	05.04.14	4%	£1/£480	Branch	No withdrawals permitted. Fixed rate.
Vernon BS Regular Saver ISA	Instant	3%	£25/£480	Branch, online	Two penalty-free withdrawals permitted. If more than two withdrawals or more than one missed monthly payment, rate slashed to 1.5%. Only available to customers within 25 mile radius of Stockport.
Newcastle BS Big Home Saver ISA	Instant	3%	£1/£500	Branch, online	Missed payment or withdrawal in any month means rate reduced by 1%.
Buckinghamshire BS Chiltern Gold Nuggets Issue 3	Instant	2.25%	£10/£480	Branch, post	Regular monthly payments of the same amount. One penalty-free withdrawal permitted. Missed payment or two or more withdrawals reverts rate to 0.10% for tax year. Initial deposit must be made by cheque.
Nationwide BS Save To Buy ISA Issue 2	3- year bond	2%	£50	Branch	No withdrawals permitted.
Hanley Economic BS Cash ISA Regular Saver	Instant	1.70%	£20/£480	Branch, post	Missed payment reverts the account to Instant Access ISA One penalty-free withdrawal allowed per tax year. Restricted by postcode.

Source: Moneyfacts

As you can see Nottingham Building Society is offering the best rate of 4% and unlike the others it is a fixed rather than a variable rate. But you will only be able to get an account if you live in the area and can access a branch.

The next best deal from Vernon Building Society is also restricted by postcode so savers living outside a 25-mile radius of Stockport won't be able to benefit.

Newcastle Building Society's Big Home Saver ISA is the best regular saver ISA that is available to all, as anyone can apply online.

Take a look at the latest ISA rates

More stories

Permalink | Email this | Linking Blogs | Comments

Secret call centre codes that could save £100m

Sarah Coles — 2013-05-16T09:21:00+00:00

Filed under: Savings & ISAs

Nigel Clarke, a frustrated IT manager, spent seven years preparing for a one-man crusade against call centres. He was sick of hanging on the phone, listening to recorded messages telling him which button to press, so he started researching these menus, and discovering the secret codes to bypass them.

His secrets have been revealed, and could save us an estimated £100 million.

The secret

Clarke calls himself a "call centre menu enthusiast". He has sent the last seven years making more than 12,000 calls to the automated phone services of hundreds of companies, and cataloging the options.

He says the worst call centres have more than 80 options in their phone menus with up to 7 levels of menu. He says: "Some might say this is the modern equivalent of Dante's circles of hell." One example is HMRC, where it can take up to 6 minutes just to get through the menus before a joining a queue for someone to actually answer the phone As one of the UK's busiest call centres, they receive 79 million calls per year. That means each year, callers to the taxman spend 4.3 million working hours just navigating menus.

He is campaigning for better menu design to save us time and money. However, in the interim, he has published the results of his research on his website www.pleasepress1.com.

How it works

You can enter the name of the business you are calling and it will show you the number and the phone menu options you need. You then dial the number and as each menu starts, you can 'press ahead' without having to wait for the automated message to rattle through each option.

So, for example, if you have home insurance with Lloyds TSB and you have a water leak to your property you could spend 4 minutes wading through 78 menu options, or you can check the site and dial 1-3-2-1-1-5-4.

If you want a brochure to see how you could spend your Nectar points on travel, you could call Sainsbury's and spend 3 minutes and 7 seconds on 29 menu options, or you could dial 3-1-4-1-1-1.

If you wanted to ask Argos about a TV you were buying from the website you could spend 2 minutes and 37 seconds going through 73 menu options, or you could dial 1-3-4-2-3.

Alternatively if you have an income tax enquiry for HMRC you could spend 4 minutes and 35 seconds on the 0845 number getting through 74 options on the menus. Or you could dial 1-hold-1-3-2-2.

Clarke estimates that the secret codes could save 1 billion minutes of call time a year. We would also get around the advertising that 68% of organisations use between the options. He has launched a Call Centre Menu Enthusiasts Group, and says: "I've been working in IT for over 30 years and nothing gets me riled up like having my time wasted through inefficient design. This is why I've devoted the best part of seven years to solving this issue."

More stories

Permalink | Email this | Linking Blogs | Comments

Duchess in visit to credit union

Press Association — 2013-05-16T02:00:00+00:00

Filed under: Savings & ISAs

The Duchess of Cornwall could be given tips on how to save £20 a week when she joins a credit union.

Camilla, who already has financial advisers, is applying to join the London Mutual Credit Union in Peckham where she will have access to its financial services which aim to teach members how to save around £20 to £40 each week.
She will also be eligible for payday loans normally used by people in "crisis" situations which have 28.6%APR interest rates, compared with other lenders who can charge up to 4000% APR.

On her first visit to the Peckham branch, she praised its services and said: "I think everybody needs that bit of help to show them how it's done. That personal touch just makes a difference."

The non-profit organisation is one of London's largest and provides services to anyone who live or works in the Southwark, Lambeth, Westminster and Camden boroughs. It runs by lending out its members' savings and encourages customers to take control of their money and only borrow amounts they can afford to repay.

LMCU will be the first credit union Camilla has joined, although she has visited five others in the past three years, and is eligible as a Borough of Westminster resident. She said: "It's very important to get the word out and tell people about it. It is just raising awareness. Probably like many other people I didn't know much about it."

During her visit the Duchess spoke to a number of LMCU members who have been helped by the scheme.

Wendy Powell, 67, was at the branch with her daughter Clare, 32, who is already a member. She said: "I told Camilla I was just here with my daughter but that I was thinking of joining and she said she would as well. I said she should get behind me in the queue."

Louis McLeod, treasurer of LMCU, said: "When you join you're given a share account and encouraged to save on a regular basis. You also have access to various perks that are invaluable in a credit union current account. You also have access to the Isa account. The Duchess would save dividends like any other member on her regular share account and if she did make an Isa account she would get 3% interest. She would be able to take advantage of both the traditional share account and also the Isa account and the current account."

Lucky Chandrasekera, chief executive of LMCU, said the credit union is trying to attract more affluent members. He said: "If everyone is unemployed and can't save money you don't have money to give, so you need affluent people as well. We are now introducing a cash Isa and working on introducing mortgages and we have just finished testing the iPhone app so it's for the younger generation, so we are working on that." LMCU became the first British credit union to offer a payday loan last year and now has more than 16,000 members.

Permalink | Email this | Linking Blogs | Comments

Get paid £100 to switch banks

lovemoney.com — 2013-05-14T10:00:00+00:00

Filed under: Savings & ISAs

If decent interest rates, cheap overdrafts and better customer service haven't pushed you to switch current account, will £100 do the trick?

Over half of us (58%) have kept the same bank account for a decade or longer, according to recent research by Santander. That's despite fierce competition as the banks try to win our custom with offers ranging from interest on in-credit balances to fee-free overdrafts to free money.

Both First Direct and Halifax are currently offering £100 if you move your current account to them.

Let's took a look at these accounts, what they have to offer and the small print.

First Direct 1st Account
First Direct's 1st Account consistently tops customer satisfaction surveys for the quality of service provided by the bank.

To qualify for the £100 joining reward, you need to have a salary of at least £1,000 a month paid into the account within three months of joining. You also need to transfer at least two direct debits and/or standing orders using First Direct's Easyswitch service.

The 1st Account also offers a £250 interest-free overdraft, which is very rare right now.

If you're not happy with First Direct, after six months you can switch to another bank and you'll be given another £100. To qualify for this, you'll need to have paid in at least £1,000 a month for six months and have used the bank's Easyswitch service to transfer your direct debits and standing orders. This offer ends once you've had the account for a year.

These offers are only available to people who haven't previously had an account with First Direct.

Take a look at what the 1st Account has to offer

Halifax accounts
Meanwhile, if you switch to Halifax's Current Account, Reward Current Account or Ultimate Current Account, you could earn up to £160 in your first year.

First up, you can earn £100 by opening an account and switching all your active direct debits (you must have a minimum of two), standing orders and automatic credits such as your salary.

If you choose the Reward Current Account, you'll also earn £5 a month as long as you pay in a minimum of £750 each month, pay out two direct debits and stay in credit.

Note that the Ultimate Reward Current Account comes with a £15 a month fee, which is reduced to £10 a month if you pay in a minimum of £750 each month, pay out two direct debits and stay in credit.

And if you open a Halifax account, you can move any credit card debts you have onto a Halifax All In One credit card (subject to you being accepted for the card) and have your balance transfer fee refunded. The All In One card has an interest-free period of 15 months on both balance transfers and purchases. This could save you up to a couple of hundred pounds, depending on how large your debts are. You need to apply for this offer in a Halifax branch.

These offers aren't available to existing Halifax or Bank of Scotland current account customers, but you can apply if you haven't had a current account with either bank for at least six months.

Double your money
If you have the time and inclination, you could conceivably open a Halifax current account and then switch after a couple of months to First Direct. That would earn you more than £200 in your first year.

Other bank account options
If you prefer earning money regularly from your bank then there are a couple of other options worth considering now.

The Santander 123 current account pays both interest and cashback. It pays up to 3% interest, depending on how much money you have in your account. You'll earn 1% on balances from £1,000 to £1,999, 2% on balances from £2,000 to £2,999 and 3% on £3,000 up to a limit of £20,000.

The latter rate beats all of the top instant access savings accounts around at the moment.

What's even more appealing is you can earn cashback on your household bills: 1% on your water and Council Tax bills, 2% on gas and electricity bills and 3% on home and mobile phone, broadband and TV packages.

If you have a Santander mortgage, you'll also earn 1% cashback on your monthly payments up to a maximum of £1,000 a month.

However, the 123 account does charge a monthly fee of £2, so make sure you'll earn enough to more than cover this.

The other option is Nationwide's FlexDirect account, which pays 5% on balances up to £2,500, providing you pay in £1,000 a month. That smashes the top instant access savings accounts and could earn you up to £125 in interest (before tax) in your first year. You can also apply for a year's fee-free overdraft. You can read more on this account in Why some current accounts are better than savings accounts.

But switching's too much hassle, isn't it?
Many people think switching current account will be a time-consuming and potentially disastrous process, with the possibility of missed payments.

The reality is that switching account is so much simpler now. Under current rules, the transfer process should take no longer than a month, and your new bank should seamlessly transfer over your direct debits and standing orders.

So with some great rewards on offer, isn't it time you thought about making a switch?

Compare all the top current accounts

More stories

Permalink | Email this | Linking Blogs | Comments

Home counties father wins over £200k on 1p bets

Sarah Coles — 2013-05-07T10:05:00+00:00

Filed under: Savings & ISAs

A winner, who decided to remain anonymous, won an incredible £209,731, through a series of 1p bets on a number of different horse races on Sunday. The approach, which is known as an accumulator, saw him lay out under £16 in order to win the cash.

So how did he do it, and why aren't we all at it?

The win

The man took the cash on Sunday, after selecting 11 horses in three different race meetings. He then placed a number of 1p accumulator bets using combinations of four, five, six, and eight of the 11 horses. So, for example, he put on a 4-folds stake - in which a specific four of his eleven horses had to win in order for him to get a payout.

He also put an eight-fold two-way bet on, which meant that all eight of the horses he picked had to finish in the top four.

The man said: "This sort of win is completely alien to me! I've had a couple of four-figure wins in the past, but I never expected this. I'm going to chill out over the next few days thinking about how to spend the money, but it'll go a long way in the current climate. I'll probably pay off the mortgage, and I'm a bit of a car fan, so I might see about a vintage sports car!''

So why aren't we all up to it?

Well plenty of people are. Kate Miller, spokeswoman for William Hill, said: "Accumulators are incredibly popular bets to place."

There are a few high-profile wins too. Miller says William Hill tends to see two big wins a year. There was a man who won £90,000 on a 14-match football accumulator in March, and another who won £64,000 on a 12-match football accumulator last October.

The risks

However, the fact that they are reported on is a sign of just how unlikely a big win is. The vast majority of all bets of this sort will lose.

This bet was particularly unusual, because he bet so little and won so much. Miller said: "This is one of the luckiest bets we've ever seen and the one all punters dream of. To see one with penny stakes is almost unique.''

It goes to show the risks involved in betting. It's these risks that lead the experts to advise that people should be very careful about gambling, and only risk money they can really afford to lose.

One punter in the US last week revealed just how badly things can go when you get carried away. The 30-year-old from Manchester, New Hampshire, was playing a game at the fairground called 'Tubs of Fun' in which you throw balls into tubs, and win if the balls stay in the tubs. He lost $2,600 - his entire life savings - in an effort to win an XBox Kinect. He left with a giant banana.

More stories

Permalink | Email this | Linking Blogs | Comments

Millions use savings for groceries

Press Association — 2013-05-07T08:00:00+00:00

Filed under: Savings & ISAs

Five million families are approaching financial "breaking point" and are relying on loans and savings to cover their food bills, research has suggested.

One in five households said that their monthly incomes would not stretch to cover all of their food costs in April and they had to use some form of borrowing such as a credit card, and overdraft or a loan or plunder their savings instead, consumer group Which? found.
This would equate to five million families if the findings were projected across the UK, Which? said. The findings provide an indication of the numbers of people who are struggling, despite official figures showing last week that personal insolvencies have fallen to their lowest level in five years.

The group who could not cover their food bills from their income alone was largely made up of low-income households earning less than £21,000 a year and squeezed 30 to 49-year-olds, many of whom had children.
Some 82% of these people said that they were worried about food prices and 57% were finding it "difficult to cope" on their current income. People in this group were also more likely to be worried about their level of debt and 74% of them described economy as "poor".

Which? executive director Richard Lloyd said: "Our tracker shows that many households are stretched to their financial breaking point, with rising food prices one of the top worries for squeezed consumers. It's simply shocking that so many people need to use savings or credit to pay for essentials like food."

The study also found that only one quarter of people said that they were living comfortably on their incomes and more than one third (36%) felt squeezed.

Two-thirds are worried about the effects of low interest rates on their savings - although insolvency experts have credited low interest rates with helping people's borrowing costs and keeping personal insolvencies down.

Almost one third (31%) people surveyed cut back spending on essentials last month, and they were most likely to be women aged between 30 to 49 years old. More than two thirds (68%) of people across the survey described the state of the economy as poor, although 9% said it is good.

Around 2,000 people took part in the survey last month across the UK.

Permalink | Email this | Linking Blogs | Comments

Are Thai brides behind state pension changes?

Sarah Coles — 2013-05-07T06:32:00+00:00

Filed under: Savings & ISAs

The government's plans to stop spouse's state pensions may have been prompted by the number of people meeting online - including so-called 'Thai Brides'.

So why is this such a worry for the government?

Why the change?

As we reported, this week's Queen's speech will include measures which will stop spouses being able to claim a state pension purely on the grounds of their husband or wife's contributions. At the moment they can claim £3,500 a year for the rest of their lives, despite never having paid any National Insurance themselves.

The total bill for these pensions is currently £410 million a year, and there are signs that it could rise - which is what is worrying the government.

Steve Webb, the pensions minister, said the numbers claiming the cash in the UK were dropping, but those overseas were rising. He said 200,000 of these pensions were now being paid to people outside the UK - half of whom were born outside the UK, and have never lived here.

Overseas

The rise in the number of overseas claimants may well be due to the number of men seeking partners overseas. A government source told the Telegraph that in addition to increased longevity, a rise in emigration, and an expansion of the rules to include men in 2010, the internet was partly to blame for a rise in the number of people receiving the payments.

They said: "Technology facilitates relationships across the continents in a way that wasn't the case 20 years ago. It added that there are now 'more people using the net and pairing up'.

There is a huge proliferation of websites offering to pair up lovelorn Brits with younger women from across Asia and Eastern Europe. And many thousands of women are on the books of these websites at any one time.

According to the BBC, around 70 couples a week go to the British Embassy in Bangkok to get marriage documents processes - almost all of them are older British men marrying younger Thai women. These women hold two risks for the British state pension system: they may never contribute to the National Insurance system, and they are likely to be drawing this pension long after their husbands have passed away.

But what do you think? Are the rules fair? Or are they a gesture to the Tory right wing? Let us know in the comments.

More stories

Permalink | Email this | Linking Blogs | Comments

Children already in habit of saving

Press Association — 2013-05-03T05:30:00+00:00

Filed under: Savings & ISAs

Children as young as 10 are already saving up for "key milestones" in their lives such as university, buying their first home or starting a business, a report has found.

The tough economy has produced a generation of financially savvy children, many of whom are more "switched on" to savings than their parents were at the same age, investment provider Scottish Widows found.With the prospect of university tuition fees and a typical 20% deposit currently put down by first-time house buyers, 11% of children said that they have already begun saving towards the cost of college, university, or buying a home.

A further 6% said they are saving up for a car - while 2% of entrepreneurial children said they are putting money aside to start their own business.

But toys, games and gadgets remain children's savings priorities, with 48% of youngsters saving up for this purpose.

Some 98% of 10-year-olds said they have already got into the habit of putting some of their cash away for a rainy day, while just 15% of adults surveyed said they had started saving before the age of 15.

The majority of children who regularly receive pocket money said they get between £5 and £9 a week. Most children said that they save a portion of this cash, although 10% put all of it away.

The report suggested that the economic downturn has had an impact on children's savings habits. Publicity around the Government's landmark efforts to automatically enrol people into workplace pensions and encourage people into a lifelong savings habit may also be having an effect.

Seven out of 10 children surveyed were found to understand what a pension is - although a significant proportion (10%) think they will be able to retire before the age of 50.

Oxford University professor of economic history Jane Humphries said: "These children started school around the start of Britain's financial crisis, so perhaps growing up in an age of austerity has made them realise that saving for a rainy day is sensible. The rising costs of education may have prompted their concern with saving for university or college."

Permalink | Email this | Linking Blogs | Comments

Should well-off pensioners give back their benefits?

lovemoney.com — 2013-05-02T11:00:00+00:00

Filed under: Savings & ISAs

As Iain Duncan Smith urges wealthy pensioners to hand back extra payments, we take a look at what retirees actually get.

Iain Duncan Smith, Secretary of State for Work and Pensions, sparked a lively public debate this week when he suggested that prosperous pensioners should give certain welfare benefits back to the state.
Duncan Smith, who himself turns 60 next year, attracted some bitter responses. In particular, critics argued that it was hypocritical to hear about financial sacrifice from a millionaire Cabinet minister who married a Baron's daughter and lives in a country house on her father's estate.

Then again, IDS did ask an important question: should wealthy pensioners with no need of extra benefits give these up so that poorer folk can benefit? Let's examine the facts of this argument by finding out what pensioners can claim.

Download this free guide: Top 10 retirement tips - special 16-page guide

Eight benefits for pensioners
What pensioners get from the state at retirement usually depends on three things: their age, gender and record of paying National Insurance contributions (NICs).

1. The basic State Pension (taxable, contributions-based)
The foundation of state support for retirement is the basic State Pension. Formerly paid at 60 for women and 65 for men, State Pension age is being equalised and raised over time. Depending on your current age and gender, your State Pension age could range from 61 to 68 years. Here's the official State Pension calculator so you can find out.

In the 2013/14 financial year, the full basic State Pension is £110.15 a week, or £5,727.80 a year. This income is taxable at your highest rate, so a few rich pensioners lose 45% of this payment to the taxman.

2. The Additional State Pension (taxable, contributions- and earnings-based)
As well as the basic State Pension, you may be entitled to an extra payout known as the Additional State Pension. How much you receive will depend on your NIC history and previous earnings.

Calculating your Additional State Pension is horribly difficult, so the best way is to get a pension forecast. As with the basic State Pension, the Additional State Pension is taxable.

3. Pension Credit (tax-free, means-tested)
Once you reach your State Pension age you may be able to claim an extra payment known as Pension Credit. This tax-free, means-tested benefit tops up your weekly income if it is below £145.40 for a single person or £222.05 for a couple in the 2013/14 tax year.

Although Pension Credit is one of 32 different tax-free Government benefits, means-testing ensures that it is not paid to pensioners who already enjoy reasonable incomes.

4. Free TV Licence (tax-free, not means-tested)
A colour TV Licence costs £145.50 a year, but pensioners aged 75 and over can claim a free TV Licence that renews every three years. Like Pension Credit, this benefit is tax-free, but is not means-tested. In other words, all pensioners 75 and over qualify for this payout, regardless of income.

Then again, one must apply for this benefit to get it, so rich or generous pensioners could turn it down simply by not applying.

5. Free bus pass (not means-tested)
Another tax-free top-up that is not means tested is the free bus pass. This gives older people free off-peak travel on local buses anywhere in England. Similar schemes operate in Scotland, Wales and Northern Ireland.

Eligibility is based on State Pension age, so you have to be at least 60 years old. For frequent bus users, this could save hundreds of pounds a year. Again, well-off pensioners who feel they don't need or want a free bus pass can simply choose not to apply.

6. Winter Fuel Payment (tax-free, not means-tested)
The Winter Fuel Payment is a tax-free lump sum to help older Brits with their heating bills.

Depending on the severity of the weather, it ranges between £100 and £300. It is paid automatically between November and December to those claiming State Pensions. To be eligible for this year's payment, you must be born on or before 5th July 1951.

Some older Brits -- including celebrities such as Lord Sugar and Peter Stringfellow -- have complained that they would opt out of receiving this 'free money', were there an established mechanism to do so.

7. Free NHS prescriptions (not means-tested)
Brits aged 60 and over get free National Health Service prescriptions. Since 1st April NHS prescriptions in England cost £7.85 per item, so this is a big saving for pensioners requiring regular medication.

8. Christmas Bonus (tax-free, not means-tested)
The Christmas Bonus is a tax-free sum of £10 given to people claiming certain benefits, usually paid in the first week of December. This is handed out automatically, regardless of income. While £10 wouldn't even buy a round of golf for a wealthy pensioner, it could be a blessing to those struggling to get by on state benefits.

The benefits system is fiendishly complicated. For independent advice on navigating this complex labyrinth, try Turn2Us's benefits checker.

These benefits are safe...for now
Prime Minister David Cameron has clearly confirmed that these retirement benefits will be protected for this entire Parliament -- a promise which extends to the 2015/16 tax year. So only after the General Election in 2015 could the Conservatives tinker with these payouts -- assuming they win the next election, that is.

All political parties are terrified of upsetting older voters, as there are more than 11.5 million people claiming the UK State Pension today. Even so, it is worth asking whether a retired person with an income of, say, double the UK's average wage should receive tax-free, non-means-tested benefits potentially worth thousands of pounds a year.

Opt-out of, tax or donate benefits?
Rather than asking pensioners to return these payments voluntarily, the Government should take steps to establish robust, efficient opt-out procedures. Going further, making these benefits taxable or means-tested only for the wealthiest retirees would free up funds to improve support for poorer pensioners.

Alternatively, the Government could encourage prosperous pensioners to donate these extra payments to charities. By using Gift Aid, pensioners can boost these donations and also reduce their tax bills. In this scenario, the public, worthy causes and well-heeled pensioners all benefit, so this option is well worth highlighting.

I know that some pensioners are really keen to opt out of these extra benefits. Indeed, just last month, one of my wife's parents turned 75 and thus qualified for payments that they simply don't need. It's high time that politicians 'grasped the nettle' by tackling generous state payouts to rich pensioners. Otherwise, these additional payments will probably end up as extra pocket money for my children!

Free guides

Easy access accounts 'disappearing'

Press Association — 2013-05-02T09:00:00+00:00

Filed under: Savings & ISAs

Easy access savings accounts which pay an introductory bonus rate are on the "verge of disappearing", a financial information website has warned.

The number of these accounts offering savers a bonus has fallen back sharply since the Government launched a scheme to help borrowers last August, Moneyfacts found.
At the start of August 2012, 73 easy access accounts paid a bonus and the highest rate on offer was 2.7%.

Since then, the choice of bonus-paying accounts has plummeted to 32, with the highest bonus rate on offer almost half of what it was nine months ago, at 1.45%.

The Government's Funding for Lending Scheme was launched last August to give lenders access to cheap finance, but analysts have said that this has made them less reliant on attracting borrowers' deposits.

Savers were already struggling to find any deals to give them decent returns on their cash pots, with the bank rate being held at a record 0.5% low.

There has been recent debate about the benefits to consumers of introductory "teaser" rates, which are used to tempt new customers but often drop sharply when the introductory bonus period comes to an end.

Savers using them need to make sure they keep switching accounts when the bonus period comes to an end, if they want to get the best deal.

Sylvia Waycot, editor of Moneyfacts.co.uk, said the number of easy access accounts offering an introductory bonus is "on the verge of disappearing".

She said: "Bonuses have received mixed reviews, some people love them, others loathe them because of their temporary nature. However, anything that gives you more interest, even if only for a short time is better than nothing at all."

Permalink | Email this | Linking Blogs | Comments

19% 'skip loan payments on purpose'

Press Association — 2013-04-27T02:09:00+00:00

Filed under: Loans, Savings & ISAs

One in five Britons has deliberately skipped a loan repayment in recent years because they could not afford it, a study has suggested.

Credit reference agency Experian warned the problem of people missing payments appears to be on the increase, which will drag down their ability to borrow more cash in the future.
Some 19% of more than 3,000 people surveyed said they had missed a payment on purpose in the last six years because they did not have the funds. These payments were missed on various types of borrowing, such as personal loans, overdrafts, credit cards and store cards.

Six years is the length of time that a missed payment will remain on someone's credit records before the slate is wiped clean. Failure to stick to agreements over cards, loans and overdrafts will show up on someone's credit records and make it tougher for them to take on more borrowing.

Another common reason Experian found for people not making a credit payment was that they had simply forgotten, with 28% of people across the survey saying this.

Experian said it found evidence that the problem of missed payments is getting worse. Nearly half of people (45%) who had missed a payment said the most recent time they had done so was in the last year. One quarter said their last missed payment was between one and two years ago and one in seven said that the last time it happened was between three and four years ago.

Meanwhile, 14% of those surveyed said they only ever make the minimum repayments, meaning that they are likely to be building up large amounts of interest.

Just making minimum repayments can also adversely affect someone's ability to borrow more cash in some cases, as lenders may assume that the borrower is struggling to clear their debts.

Almost one third (32%) of those surveyed said that they constantly worry about money and one in six said that they dread opening their card statements.

Peter Turner, managing director at Experian Consumer Services, UK & Ireland, urged anyone having problems repaying their credit to talk to their lender and seek help from debt advice charities.

Permalink | Email this | Linking Blogs | Comments

There's no point being a saver until 2015

lovemoney.com — 2013-04-25T10:00:00+00:00

Filed under: Savings & ISAs

With the extension of the Funding for Lending Scheme, there may be better places to put your money than a savings account for a few years.

The Bank of England and HM Treasury have announced the Funding for Lending Scheme is to be extended.
The scheme, which allows lenders to borrow cheaply from the Bank of England so long as that money is then lent out, was due to finish in January 2014. However as it has been viewed as a success so far, that date has been extended by 12 months.

And that's a disaster for savers.

How the Funding for Lending Scheme works
The Funding for Lending Scheme was formally launched in July last year and is designed to work as an incentive to banks and building societies to lend more. It does this by providing cash which can then be lent out, at a far cheaper rate than if lenders had to raise that cash through other means, such as savings accounts.

Exactly how cheap that funding is depends on how much lending the bank or building society does. If they maintain or expand their lending, they pay a fee of just 25 basis points, relative peanuts.

That means banks and building societies can offer more competitive loans and mortgages to individuals or businesses, but still pocket a healthy margin.

How Funding for Lending is changing
The scheme is being extended, but there are a couple of changes to how it works to note. The first is that the incentive to boost lending will be skewed more towards lending to small and medium enterprises (SMEs).

For every £1 of net lending to SMEs this year, banks will be able to borrow £10 from the Funding For Lending scheme. This will fall to £5 from 2014. Lending to individuals will remain on a pound for pound basis.

The scheme is also being extended to include financial leasing and factoring firms.

What Funding for Lending has meant for borrowers
Borrowers have certainly had a lot to celebrate since the launch of the scheme. The table below covers the average rates charged on mortgages in April last year compared to today.

Mortgage term	April 2012	April 2013
Two-year fixed rate	4.60%	3.83%
Three-year fixed rate	4.84%	4.12%
Five-year fixed rate	4.82%	3.96%
Two-year variable rate	3.62%	3.41%

Source: moneyfacts

As you can see, it's fixed rate mortgages that have benefited the most. Indeed, rarely a week goes by without the launch of a new record low rate of some form. Not that long ago a two-year fixed rate dipping below 2% was incredible news - now you can even get three-year fixed rates at 1.99%!

With personal loans, in May last year before the launch of Funding for Lending, the cheapest rate available on a loan of £7,500 to £15,000 was 6% from a number of lenders including Tesco, Clydesdale Bank and M&S Money.

Today, the best deals are almost a full percentage point cheaper, with Tesco, Sainsbury's, Clydesdale Bank and Derbyshire BS all charging just 5.1%. Indeed, it has even fallen to 5% on occasion so far this year.

What Funding for Lending has meant for savers
Because banks and building societies aren't so reliant on your savings to fund their lending, the rates on offer from savings deals have plummeted.

Let's take a look at how the average rates on Cash ISAs have changed from this time last year.

Type of Cash ISA	April 2012	April 2013
Instant access ISA	1.88%	1.54%
Notice ISA	2.05%	1.76%
One-year fixed rate ISA	3.03%	2.05%
Long-term fixed rate ISA	3.58%	2.41%

Source: moneyfacts.

The rates weren't even that great last year, but they are downright appalling this year!
It's a similar story with other types of savings accounts. The table below covers the average rates of interest on offer in April 2012 and April this year.

Type of saving account	April 2012	April 2013
Easy access	1.01%	0.76%
Notice	1.57%	1.13%
One-year fixed rate bond	2.81%	1.78%
Two-year fixed rate bond	3.34%	2.06%
Three-year fixed rate bond	3.43%	2.22%
Four-year fixed rate bond	3.78%	2.33%
Five-year fixed rate bond	4.02%	2.48%

Source: moneyfacts

So across the board rates have been forced downwards significantly since the introduction of Funding for Lending.

But it's not just the rates that have taken a hit; even the number of deals on offer has been dented by the Funding for Lending Scheme.

April is supposed to be prime Cash ISA season, when banks and building societies fall over each other for your savings cash. Yet this April saw just 325 Cash ISAs available, down by almost a quarter from the 420 on offer this time last year.

Is there any point in saving?
It should go without saying that having a decent savings safety net in place is a great idea. It pays to be prepared, just in case there's a significant change in your circumstances.

However, there's an argument to be made that once that safety net is in place, there are better things you can do with the money you have left over each month rather than sticking it in a naff savings account until 2015 at least.

For example, you could try being a lender yourself through a peer-to-peer lender like Zopa, RateSetter or Funding Circle. Though even the rates on offer from peer-to-peer lenders is falling, as we explain in Peer-to-peer investor returns fall to 5.1%.

Instead you may be better off using that cash to pay off existing debts, such as your mortgage. Even modest overpayments can make a big difference and save you a lot in the long run.

For example, let's say you have 20 years to run on a £150,000 mortgage charging 5%. Your mortgage payments currently come to £990 per month. However, by paying an extra £50 a month, you'll clear the mortgage 20 months early, saving yourself £7,866 in interest!

To see what a difference overpaying could make to your mortgage, check out our mortgage overpayment calculator.

Another use for that money could be to stick it in a pension. After all, that money will be topped up by cash from the Government and potentially your employer as well.

Permalink | Email this | Linking Blogs | Comments

The top new tax-free savings account

lovemoney.com — 2013-04-24T12:00:00+00:00

Filed under: Savings & ISAs

The top Cash ISA has been pulled, but in its place comes a new market-leading rate.

Coventry BS has pulled its market-leading Poppy ISA, replacing it with a new two-year Cash ISA.
Coventry's Poppy ISA was launched shortly after the start of the new tax year and paid out 2.60%.
Although this rate isn't that exciting, it was the market-leading ISA. It came with a bonus of 1% attached for the first year, and didn't allow transfers in from previous ISA allowances. Savers flocked to open the account, leading to its withdrawal.

Unfortunately The Coventry isn't the only provider to have pulled one of its ISAs. Leeds Building Society and Santander both withdrew similar accounts just days after the new tax year began.

As rates are so dismal right now, thanks to the Government's Funding for Lending Scheme (FLS) which has given providers access to cheap money, savers are desperate to get their hands on whatever interest is offered.

This time last year the average cash ISA rate was 2.65% and now it's a lowly 1.82%, far below the current 2.8% rate of inflation.

The replacement ISA
The replacement ISA is paying a lower rate of 2.55% and is a two-year fixed-rate account.
This means you're not able to get your hands on the cash for the two-year period and you can also only open it by putting in this year's full cash allowance of £5,760.

It's a lower rate than the Poppy ISA and it's a more restrictive home for your cash. But it's still the top option in the two-year ISA market.

Here's how it compares

As you can see, unless you have the full ISA limit to invest, the Coventry ISA is not much use.
Our article - The best Cash ISAs for the new tax year - lists the rest of the new accounts still available.

Alternatives to ISAs
As with the whole of the savings market right now, the ISA offering has been dismal and there is not a lot to choose from.

One option if you've got savings to put away is a standard savings account, but the rates aren't much better here and you don't get the same tax benefits.

Peer-to-peer lending is another option and the rates on offer are around 5% - so much higher than you would get from a savings account. These work well because you liaise directly with the person you are lending money to and therefore you can set the interest rate you want.

Choosing a current account which pays interest is another choice. Nationwide pays 5% and Santander pays up to 3% so with both of these you're getting a better rate than if you put the money into a savings account.

You can read about other options in our article - The best alternatives to Cash ISAs.

Permalink | Email this | Linking Blogs | Comments

Equitable victims 'can't be found'

Press Association — 2013-04-24T06:00:00+00:00

Filed under: Savings & ISAs

Up to one fifth of victims of the Equitable Life scandal will never be compensated because of failed attempts to trace them, a spending watchdog has warned.

An estimated 17-20% of policyholders, or up to around 200,000 people, will never be tracked down, despite tracing attempts such as advertising and using credit reference agencies, the National Audit Office (NAO) said.

For those who can be found, the Government's scheme is in danger of falling off track, having only made 35% of its total payments but already spent 72% of its £57 million administration budget, the NAO said.

Its report said that the target of paying everyone who can be traced by the end of March 2014 is "at risk" given the scale of the problems it has uncovered.

The watchdog is recommending that a new plan with a "more realistic timetable and budget" should be drawn up to provide the 664,000 payments at a value of £370 million that still need to be made. Two years into the scheme, 407,000 payments totalling more than £577 million have already been handed out.

Paul Weir, spokesman for campaigners the Equitable Members' Action group (Emag) said: "It is shocking that up to 200,000 victims may never get their money."

He added: "I am still hearing from people who are traceable, they have called the scheme and they haven't had a cheque."

Pointing out that many people who are waiting are approaching the end of their lives, he said: "The individual stories are very sad, even if the bigger issue is partly being dealt with. It's a mess."

The report said much of the £57 million admin budget has been swallowed up by up front costs such as putting IT systems in place. The Treasury is forecasting a £1.5 million overspend.

Margaret Hodge, chairwoman of the Commons Public Accounts Committee, accused the Treasury of being "naively optimistic" about the overspend and urged immediate action to stop costs "spiralling out of control".

Permalink | Email this | Linking Blogs | Comments

Pension savers 'need £35,000 extra'

Press Association — 2013-04-24T04:00:00+00:00

Filed under: Savings & ISAs

A man approaching retirement needs to have a pension pot almost £35,000 bigger than he would have done four years ago to achieve an income of £5,000 a year, a report shows.

The Office for National Statistics (ONS) found that a single 65-year-old man has seen the level of savings he would need shoot up from around £118,000 in 2009 to £152,800 by March 2013.

From December last year, new gender equality rules came into place which mean that men can no longer be offered better annuity rates than women on the basis that men tend to have shorter lifespans.

Annuity rates, which set the size of someone's retirement income for life, have been in general decline in recent years, which some pensions analysts have put down to side-effects of the Bank of England's efforts to kick-start the economy.

The ONS said that according to Money Advice Service figures, by March this year, a man or a woman would need to have £152,800 put by to attain a £5,000-a-year income.

Women have also seen the buying power of their pension pots eroded, although the decline has been slightly less severe. In 2009, a woman would have needed £133,500 saved up to buy a yearly income of £5,000, according to the ONS's Pension Trends research.

Women tended to be offered worse annuity rates than men until the new European "gender neutral" rules came into force, meaning that insurers can no longer offer someone a different price on a range of policies and benefits, also including car insurance, based on their sex.

Financial information website Moneyfacts recently reported that men's pension annuity incomes plunged at the steepest rate in 14 years during 2012, with an 11.5% slide.

Rounds of quantitative easing (QE) to breathe new life into the economy have been blamed for plunging annuity rates.

QE makes it cheaper for companies to borrow by pushing down the yield on government bonds, but annuity incomes are also based on these yields, meaning that new pensioners see their incomes reduced.

More stories

Permalink | Email this | Linking Blogs | Comments

Would the US tax-return system benefit Brits?

Michelle McGagh — 2013-04-18T09:00:00+00:00

Filed under: Savings & ISAs

The UK tax system is complex, meaning people are often penalised for not understanding the rules or fail to claim the tax credits they are due; could we be better served by the Amercian tax-return style system?

US citizens fill out annual tax returns setting out their income, savings and debt. This applies to all, whether they are living in the country or not.

To us Brits this tax system may seem like a pain in the proverbial but it can have huge advantages. Britons have on average £5,998 of debt according to money education charity Credit Action, and this figure rises to £54,017 when the mortgage is added in.

This level of debt is in stark contrast to the amount of savings we have; the average person has just £2,022 squirrelled away, according to figures from ING.

This contrast between debt and savings would mean we'd all be quids in in the States; the way the tax system is set up means it actually pays to be in debt. Much like the way companies complete tax returns over here, in the US citizens can knock mortgage interest and debt repayments off their income tax bill as well as receive credits for university fees, children and even donating to charity.

As a nation built on homeowners, or at least aspiring homeowners, and mountains of credit, many Brits could see their annual income tax bill shrink to nothing.

Savings are the nemesis of the US tax return, the more you save and the more return or income you make from your savings, the more you have to pay in tax - a system that truly penalises savings.

I actually don't think the US tax regime is the right way to go, I genuinely think we've got a better system but as Americans aren't rewarded for savings, I think we should be rewarded more.

There was some rumours before the Budget that there would be a few savings incentives thrown in, but alas there weren't. However, I think the government should get on board with Nationwide's idea of allowing people to save their entire ISA allowance into cash rather than just half.

When savings levels are so poor, offering people another place to stash their cash without taking any risk could prompt more people into action. Getting people to save is always a challenge, what would incentivise you to save more?

More stories

Permalink | Email this | Linking Blogs | Comments

Pound coin was introduced 30 years ago

lovemoney.com — 2013-04-17T14:00:00+00:00

Filed under: Savings & ISAs

As the humble £1 coin hits turns 30, we look at what it could have bought you back in 1983 - and what it will get you today.

The pound coin was introduced 30 years ago on April 21st 1983.
These days, there are more than 1.5 billion coins in circulation and it's estimated that around 2.9% are forgeries!

So what could you have bought with a brand new pound coin in 1983?

In 1983, you could have bought:

20 cigarettes

6lbs of frozen chicken

Three loaves of sliced white bread

2.77 litres of petrol

Two pints of London Pride beer

I'm particularly impressed that you could buy a packet of 20 cigarettes for a pound back in '83. These days, the price is more like £8.

Let's look at what you can get for a pound these days:

One hour in a car park

One bottle of water from a vending machine

Five trips to a public toilet in London

Three cans of diet coke from Poundland

0.72 litres of petrol

Source: Poundland

Clearly we've had to endure a lot of inflation over the last 30 years, and you can't buy much for a pound in 2013, unless you visit your local pound shop anyway!

That said, when you visit a pound shop, don't assume that everything is a bargain. For example, a pack of chewing gum can be quite expensive at £1, so you may be better off buying your gum at a supermarket or even at a local corner shop.

You may also find that some products are in smaller sizes than you'd normally find in shops.

More stories

Permalink | Email this | Linking Blogs | Comments

Deal-hunters find £10.99 Tesco wine for £2.92: can you cash in?

Sarah Coles — 2013-04-17T11:11:00+00:00

Filed under: Savings & ISAs

Canny deal-hunters have found a way to stack a series of deals from Tesco in order to get 12 bottles of wine, which normally sell for £10.99 a bottle, for £2.92 a bottle.

So what were the deals, and can you take advantage?

The deal

The deal was spotted by HotUKDeals.com member jullie7, who used four separate deals to pay less than a third of the usual price.

The case of Calvet Prestige Bourdeaux Blanc white wine was already reduced on the Tesco website, so six bottles cost £30 instead of £65.94. However, Tesco is also running a deal at the moment offering 25% off French wines as long as you order at least 2 cases, so she added the two deals together.

It also has a code offering £10 off a £50 spend plus free delivery, which she shared on the site as XXRKNT. And to make matters even cheaper, she used a code to get 750 Clubcard points with it - which is worth at least £7.50 depending on how you spend the points.

By stacking the deals, 12 bottles of wine which would normally have cost £131.88, cost her just £35 - with the bonus of £7.50 in points.

Can you cash in?

The bad news is that the deal was so popular that this particular case has sold out within a few hours of being advertised. One member of the deals site commented: "Gah, too late! Bargain for those that got it :D."

However, all is not yet lost, because as another member pointed out: "That wine is out of stock but if you search their French wines there are others cheap as chips which still work with the code given."

If, for example, you bought 12 bottles of Maison Fort du Roi Chablis you'd already be buying into a 50% off deal. You would then qualify for the 25% discount, bringing two cases down from £71.88 to £53.91. The £10 off code would bring it down again to £43.91. Overall it would fall from £11.99 a bottle to £3.66 a bottle.

But what do you think? Have you come across any great examples of stacking deals like this? Let us know in the comments.

More stories

Permalink | Email this | Linking Blogs | Comments