Here are five stories clients may have read in the weekend's papers…
Bank of England governor Mark Carney says the UK housing market is generally recovering, according to the BBC. Carney noted that Northern Ireland is the only area where prices have yet to stage a recovery and also suggested there was little the central bank could do to bring London house prices under control.
Inflation could soon drop below the Bank of England's official target of 2% based on a stronger pound, weaker commodity prices and widespread deflation on the high street, according to the Telegraph. It would be the first time inflation has dropped below the central bank's target since November 2009.
The head of the second biggest payday lender in the UK has told the Mail on Sunday that the sector can barely keep up with public demand. Jeffrey Weiss, chairman of DFC Global said he was not concerned about a fall in revenue as there are likely to be more customers than they are capable of servicing.
Here are five stories clients may have read in the weekend’s papers…
The Financial Conduct Authority takes over responsibility for the payday lending market from the Office of Fair Trading on 1 April.
People who have been affected by the recent floods are being warned they risk a black mark on their credit files and an increased debt if they take advantage of mortgage payment holidays being offered by some lenders, according to the Sunday Times.
A number of banks including HSBC, RBS and NatWest have recently approached borrowers with the offer of a holiday but consumers are urged to get written confirmation this will have no effect on their credit rating.
Young professionals are suffering the most from a financial advice gap, according to the Independent. A number of advisers can no longer offer advice to low value clients and a combination of high property prices, stagnant wages and a general lack of engagement with financial services could spell out a ticking time bomb for Generation Y.
Backed by Schroders, LGIM and the IA
New system for funds without without three-year track record
Clients to be compensated by end of 2018
Rolled out to 25 schemes next month
Mean gender pay gap now 16.64%