The decision by Gordon Brown to review the state of social care in order to make them more affordable and fairer for everyone has been welcomed by Saga Insurance.
The insurer has asked for steps to be taken as quickly as possible to help those who need it but also advises people to take independent financial advice in the meantime to ensure they make the best decision. Saga Insurance research shows that the typical cost of a 4 year care home stay is expected to almost double in the next twenty years, from GBP112,000 to GBP223,000.
A Saga Insurance spokesman said that it was vital to get professional financial advice since it could help inheritances be protected rather than seeing it all eaten up in care fees as is currently the case.
More information about Saga Insurance can be found within Moneygossip.co.uk.
Egg, best known for the Egg credit card has just introduced a new bond that is linked to the FTSE100 performance over the next 3 years.
Called the FTSE 26 percent guaranteed equity bond, Egg card customers who invest in it will enjoy FTSE 100 index gains made over and above the starting level of the bond up to a maximum of 26 percent. Should the index finish lower than the starting point of the investment then customers are guaranteed the whole of their capital invested back.
An Egg card spokesman suggested the investment bond would suit customers who are naturally cautious but would like the chance to earn a higher return than that offered by simple deposit accounts.
The Bank of Scotland has a fantastic opportunity for first time buyers saving a deposit for their first home – doubled up savings.
The way this works is that savers who regularly deposit money into a Bank of Scotland savings account, up to a maximum amount saved of GBP5,000, will have the balance matched by the home builder Persimmon. The one proviso is that this only happens if the savings are used as a deposit on a new house.
A spokesman from the housebuilder saw it as making a real difference for first time buyers, though they would still need a considerable amount saved elsewhere in order to make the 25 percent minimum deposit most mortgage providers require. The Bank of Scotland are also in favour of the scheme as they want to help home buyers as much as they can.
