Apart from all the other costs associated with having children Abbey National are warning parents that home insurance is essential so as to be covered for likely accidents. Each year, according to a new Abbey National study, children cause damage costing more than GBP500 million across 2.5 million homes in the UK. It is the toddlers who are the ones to watch, as the study revealed those aged between 1 and 5 cause nearly a quarter of all the household accidents. The Abbey National data also showed boys to be twice as troublesome as girls in the household damage stakes, while the most common home insurance claims for damage caused by children are on paint or wallpaper, furniture and items being broken.
In the future customers taking out an Alliance and Leicester mortgage will find a range of interest rates on offer depending on the amount of money they are putting down as a deposit. Last week the Alliance and Leicester introduced their new stance on mortgages, with a maximum of 90 percent loan to value available. However they also introduced a lower rate when the customer can put down a 25 percent deposit, basically making it a more attractive proposition for the borrower and at the same time reducing their own risk exposure. It has been argued that the 100 percent mortgages did a lot to create the housing market price increases, since people could simply borrow whatever was needed, without having to put down any of their own money. Those days are gone it seems, so the Alliance and Leicester stance may well be repeated by other lenders over the coming weeks.
A study carried out by esure car insurance has found that younger drivers are more likely to buy an environmentally friendly car than older drivers. Over 80 percent of drivers under 25 would consider using a hybrid, electric or bio fuel car according to the esure survey results, reflecting their attitude to the future of the planet or perhaps their concern at the rising cost of fuel. In fact 20 percent of all drivers said they would think about moving to a more fuel efficient vehicle to save money. The hybrid and electric cars are certainly cheaper to run than existing petrol models, though initial purchase cost is high. Car insurance premiums are also relatively high due to the cost of any repairs that may be needed. Being new and innovative means parts cost much more than regular models.