Article Abstract:
Many people in the UK remain suspicious of unit and investment trusts and pension funds, even though there are now strict regulations governing how these products are managed. Pension fund managers must give a clear indication of initial charges, and must declare the regular management fees which they charge. However, many investors remain unaware of their rights with regard to how their money is handled, and many do not realise that they can incur charges by, for example, deferring their annuity. Furthermore, suspicion is created because investors find that bonus rates are not always as high as claimed.
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Article Abstract:
Many mortgage borrowers in the UK are set to see a sharp rise in costs associated with their mortgage. For those whose mortgage payments are adjusted only once a year, charges could rise by as much as 20% in Jan 1998. Costs will also rise from Apr 1998 when Miras, which allows mortgage borrowers tax relief on the interest on up to 30,000 pounds sterling of mortgage debt, is reduced from 15% to 10%. Many people took out discount mortgages and low fixed-rate mortgages in 1995 and 1996, and these will soon be reverting to standard variable rates of as much as 8.7%.
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Article Abstract:
Many people intend to make a will, but in fact 70% of adults in the UK never do so. Many difficulties can arise when a person dies without having made a will, especially as personal wealth has risen and inheritance tax regulations have become more complicated. According to law, the assets of a person who dies without making a will must be divided up according to a set formula, but this does not take into account relationships other than marriage and blood.
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