According to information coming from AA Insurance the usual Bank Holiday trips out are going to be curtailed somewhat this year due to the high cost of fuel. A poll was carried out by AA Insurance from which it showed that 56 percent of drivers said they would not be heading out over the Bank Holiday weekend, with just under a quarter of those quoting petrol costs as the main reason. Compared with this time last year a litre of unleaded has gone up from 95.4 to 114.3 pence. An AA Insurance representative commented that it was quite clear how people in the UK are feeling the squeeze and so are cutting down on car journeys, especially noticeable during a Bank Holiday weekend such as this.
As of 17 June the Nationwide Building Society mortgage rates will be increased by up to 0.5 percent on a number of their products. New customers taking fixed rate or tracker mortgages, as well as those remortgaging, will face higher interest rates, a situation that the nationwide Building Society is blaming on the increased cost of borrowing between financial institutions. Looking at the broader picture the interest rate on a 2 year fixed rate mortgage with a five percent deposit is around 1.4 percent more than it was just a year ago. A Nationwide Building Society spokesman defended the changes, explaining how their costs had increased and left them with no other option but to pass on some of that cost to their customers. They were not alone in increasing their rates either, with many other big name lenders increasing their rates too.
A recent study by Tesco Finance has looked at the damage we do in our own homes and found some startling results. Children are one of the major culprits when it comes to damage around the home, racking up over GBP136 million worth of home insurance damage claims per year. Following on in value is the effects of alcohol, costing around GBP95 million in broken items and stains caused by spills. Following on from these is the damage caused by family pets, with a total of GBP87 million worth of damage every year from our faithful friends. The biggest source of claims, for Tesco home insurance at least, is what they are calling horse play. Just messing around leads to a massive GBP325 million worth of damage and accounts for 25 percent of all contents insurance claims.