Helen Nugent

British Gas, house prices, savings and petrol

British Gas is freezing its standard tariffs for millions of people over winter.

Britain’s biggest energy supplier says the decision – which applies to gas and electricity – will provide peace of mind for more than six million customers, the BBC reports. The move follows similar action from SSE which has said it will cap standard household energy tariffs until April 2017. House prices The BBC reports that annual house price growth has slowed to its lowest rate since January. Nationwide, the UK’s biggest building society and second largest mortgage lender, said that prices in November were 4.4 per cent higher than a year earlier, compared with a 4.6 per cent increase in October. It added that prices rose by 0.1 per cent from the month before, with the average cost of a home now £204,947. In other housing news, The Times reports that ‘the Government is making one of the largest investments in the private rented sector in the UK with the aim of building thousands of new homes in the Midlands and the north of England’. Funding of £45 million has been awarded to the private Dandara Group to build 2,000 homes across Manchester, Leeds and Birmingham for rent. Savings The Financial Conduct Authority has today published the third and final ‘sunlight remedy’ data set, showing the lowest interest rates available from 32 providers of cash savings accounts and easy access cash ISAs. From today, new rules come into force which means that firms will have to provide easy-to-understand key information in an upfront summary box to help consumers compare savings accounts. Firms will also have to clearly remind consumers about changes in interest rates or the end of an introductory rate. In addition, firms will be required to provide a quicker and easier switching process. Fuel prices Petrol prices in Britain will increase following a decision by the Saudi-led Opec cartel to cut production for the first time in eight years, according to The Guardian.

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