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Week in numbers

$28bn – the cost of rescuing Fannie Mae and Freddie Mac, according to Standard & Poor’s. It also estimates a further $400bn would be needed to capitalise any entities that replace them.

£6.75 – the cost of happiness, according to Skipton Building Society. The mutual’s research suggests that for as little as an extra £6.75 a week Brits would stop worrying about money and banish feelings of guilt.

37% – The number of Brits who are happy to talk about their salary. A survey by shows one in five people would discuss bonuses and almost 23% would discuss their debts.

53% – the amount Scottish people save more than the UK average, according to a survey by Fair Investment Company. It found that people living in the North are saving more than southerners generally.

£19.2bn – the total amount of money invested ethically in the UK in the past 12 months, according to Co-operative Financial Services. This is up 34% on the previous year.

46% – the percentage of the UK population who get involved in their local community and demonstrate loyalty to where they live. The survey found 13% volunteer for local charities while 5% drink only the local beer. Santander’s national key accounts team on a community day for arts organisation Art4space


Interest-only onus should be on clients

A massive 97% of The Mortgage Alliance’s directly authorised bro-kers believe borrowers should retain responsibility for repaying the capital on an interest-only deal. TMA’s October Distribution Indicator survey follows the Council of Mortgage Lenders’ response to the Financial Services Authority’s Mortgage Market Review consultation on interest-only. The CML proposed an alternative approach where borrowers retain […]

FSA fines mortgage lender

The Financial Services Authority has fined small mortgage lender, Bridging Loans, £42,000 and its director Joseph Cummings £70,000 for serious failures relating to lending practices and for failing to treat customers fairly in arrears.

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Pension freedoms: stop the scams

At the beginning of 2015, we highlighted that the new pension freedoms that come fully online on 6 April also represent a very attractive opportunity for the criminal fraternity to scam savers out of some, or all, of their accumulated retirement savings.


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