Money blog: Budget airline ranks worst for delays for third year running (2024)

Four major mortgage lenders have announced rate increases today, with some by as much as 0.35%.

Barclays has upped a number of deals by 0.15%, while TSB has increased rates across their residential and Buy to Let ranges by up to 0.35%.

Smaller increases have been announced by Leeds Building Society, including a 0.6% hike on selected residential products and a 0.20% rise on some shared ownership products.

Clydesdale Bank has opted for similar increases, upping its 95% LTV Five Year Fee and other fee fixed rate deals by 0.20%

Its exclusive 90% LTV Purchase Two Year Fixed Rate package will also go up by 0.15%.

Justin Moy, managing director at EHF Mortgages, said the market was "unseasonally bad" and high rights were the "last thing borrowers and the property market need".

"It feels like one lender has blinked and the rest have followed. Money markets haven't increased excessively in the last week or so, in fact longer swap rates have fallen, so these increases may reflect activity from the end of last week," he told Newspage.

And, it doesn't look like things are going to be getting better anytime soon.

Katy Eatenton, a mortgage and protection specialist, said it's looking more likely the Bank of England will opt to hold interest rates at its meeting next week, which will add to the turmoil.

"Rising mortgage rates are sucking the energy out of the property market. This is certainly not the direction of travel we had anticipated for this stage in the year," she added.

"It's looking ever more likely that the base rate will hold next week and that the outlook for borrowers will be roughly as bright as the UK summer."

The recent E.coli outbreak in the UK could be linked to fresh produce, according to reports.

At least 37 people have been admitted to hospital with the bacteria since an urgent warning was released a week ago, according to the UK Health Security Agency (UKHSA).

Owing to the "wide geographic spread of cases", the agency said last week that the outbreak was linked to a nationally distributed food item or multiple food items.

Now, an industry source has told The Grocer that the Food Standards Agency has focused its investigation on fresh produce in sandwiches and salads.

It is understood that cheese is not a cause for concern at present.

Sky News put the claim to the FSA, which said the source of the illness is "most likely linked to one or more food items".

Darren Whitby, head of incidents and resilience at the FSA, said "extensive food chain analysis" was being carried out to find the cause of the outbreak, adding that staff were working closely with food manufacturers to put control measures in place.

Updated guidance on how to handle fresh produce

He also updated the FSA's guidance on handling fresh food.

"We advise consumers that food should be cooked in accordance with the cooking instructions on the product label, to ensure it is safe," he said.

"Fruit and vegetables should be washed with water before they are eaten to make sure that they are clean. This should be done under a running tap, or in a bowl of fresh water.

"You should not prepare food for others if you have had symptoms, or for 48 hours after symptoms stop."

Who has been affected?

All the cases recorded in the outbreak involve Shiga toxin-producing E. coli O145 (Stec), with 81 cases in England, 18 in Wales, 13 in Scotland and one person in Northern Ireland who believes they fell ill in England.

Those affected range in age from two to 79, with the majority of cases in young adults.

E. coli are a diverse group of bacteria that are normally harmless and live in the intestines of humans and animals.

However, some strains produce toxins that can make people very ill, such as Stec, which can cause people to suffer with diarrhoea.

About 50% of cases have reported bloody diarrhoea. Other symptoms, which can last up to two weeks, include stomach cramps and fever.

Stec is often transmitted by eating contaminated food but can also be spread by close contact with an infected person, as well as direct contact with an infected animal or where it lives.

By James Sillars, business news reporter

The FTSE 100 is off to a slow start this morning as investors digest events across the Atlantic.

The US Federal Reserve last night signalled it would make just one interest rate cut this year - disappointing investors who want borrowing costs to come down.

Despite that guidance, bets remain on two US rate cuts this year after inflation figures for May came in flat on the previous month.

As such, the FTSE 100 moved just 0.1% lower at the open amid the conflicting messages.

The interest rate path for the UK was also making noises in the market.

Crest Nicholson, the housebuilder, saw its stock plunge by 11% after issuing a profit warning.

It blamed the lack of a UK interest rate cut for falling demand.

The company cut its dividend after reporting an 88% slump in half-year earnings, warning that annual profits would be hit as a result.

Wizz Air has once again topped the table as the worst airline for flight delays in the UK, new figures show.

Departures with the budget airline from UK airports were an average of 31 minutes and 36 seconds behind schedule last year, according to analysis of Civil Aviation Authority data by the PA news agency.

Though an improvement on 2022, it still meant the carrier had the worst punctuality for UK flights three years in a row.

Wizz Air enjoyed a boost to its passenger numbers in the year to March despite its poor punctuality, however. Figures show it had a record 62 million people use its services, up from 51.5 million the year before.

Turkish Airlines ranked second-worst for punctuality last year, with an average delay of 28 minutes and 36 seconds, followed by Tui (28 minutes and 24 seconds).

At the other end of the scale, Irish carrier Emerald Airlines had the best performance, with its average delay sitting at just 13 minutes and six seconds, while Virgin Atlantic followed closely behind at 13 minutes and 42 seconds.

Wizz Air said the firm made "significant improvements" after experiencing "extraordinary operating challenges" in 2022 - but acknowledged there was "still work to be done".

"Helping our customers reach their destination is our number one priority and we will continue to invest in our service to ensure they get there on time," the spokeswoman said.

This week thousands of football fans are heading to Germany for the first game of the Euros - Germany vs Scotland.

But did you know there are three items you are legally required to have in your car while travelling in the country?

You need the same items if you are driving through France as well - without them, you face a fine of around £600.

Drivers must have:

• A first aid kit
• A warning triangle badge
• One high-vis vest per passenger

Fans driving from the UK will also need to use headlamp beam deflectors if their cars are right-hand drive.

The RAC also recommends carrying these products in your car, though they aren't legally required:

• Fire extinguisher
• Replacement bulbs
• A high-quality torch
• A spare fuel can
• Additional engine oil and water (for topping up)
• An up-to-date road map or satellite navigation system
• Refreshments and plenty of water
• Take extra supplies of medication in case you can't get them abroad
• Photocopies of important documents
• European Health Insurance card

Every ThursdaySavings Champion founder Anna Bowesgives an insight into the savings market and how to make the most of your money...

Although there was a distinct slowdown in the competition between ISA providers immediately after the end of the ISA season, things appear to be picking up again.

While some of the top fixed-term ISA rates on offer are not quite at the levels they were earlier this year, there has been a bit of a recovery over the past few weeks, which could be as a result of the delay to the anticipated base rate cut.

Whatever the reason, it's great news for savers, especially those who are already fully utilising their personal savings allowance and are therefore looking to shelter some of the interest they earn from the taxman.

Virgin Money is the top fixed-rate ISA available - paying 5.05% tax free, fixed until maturity on 30 June 2025.

You do need to have a current account with Virgin Money to be eligible to open the Virgin Money 1 Year Fixed Rate Cash ISA Exclusive Issue 11.

But you can open a current account now to be eligible and you don't need to transfer your existing current account over or make any regular payments into the current account.

It does need to have an active balance, so you'll need to put in at least £1. So, a few things to be aware of and a few hoops to jump through.

The next best thing available to anyone prepared to open an account online is with Castle Trust Bank and is paying 4.87% tax-free/AER.

While the longer-term fixed term ISA rates are lower than the shorter term, the top rates are actually a little higher than they were during the ISA season.

So as the base rate is expected to fall over the next few months and years, it could still be a good time to lock up some of your cash for the longer term, to hedge against falling interest rates.

Home insurance prices have surged by a record amount in the past year, driven by extreme weather events and rising material and labour costs.

According to an index by data provider Consumer Intelligence, the average quoted price of home insurance rose by 41.6% in the year to April - the biggest increase since its records began in 2014.

The firm used quotes from price comparison sites to compile its data. It said premiums were most commonly quoted at between £150 and £199.

London and the South East saw the biggest rises, at 49.9% and 45.8% respectively. Meanwhile, the North West and North East had the lowest increases at 37.6% and 37.8%.

These are the rises in quoted premiums in the 12 months to April for all regions, according to the research:

• London - 49.9%
• South East- 45.8%
• Eastern England - 41.9%
• Yorkshire and the Humber - 41.9%
• Scotland - 41.3%
• South West - 40.6%
• Wales - 40.6%
• East Midlands - 38.9%
• West Midlands - 37.9%
• North East - 37.8%
• North West - 37.6%

Louise Clark, policy adviser at the Association of British Insurers, said providers appreciated "the strain many household budgets are currently facing" - and added that they were "committed" to offering competitive prices "despite the rising cost of raw building materials and labour".

According to ABI data, which is based on prices paid as opposed to quotes, the average home and buildings insurance premium rose 19% in the first quarter of this year compared to the same period in 2023.

"In the last year we've seen a succession of storms sweep across the UK, and insurers paid out £352 million to support customers whose homes were damaged by Storms Babet, Ciaran and Debi alone," Ms Clark said.

"As such events become more common, it's vital more is done to protect people and their property from the impact of these storms."

Staff at the shipyard that built the Titantic are expected to strike over plans to extend their working hours.

GMB union members at the Harland and Wolff shipyard in Belfast reportedly voted to strike on Monday after proposals suggested they would have to come in on Fridays

Sky News understands further talks are taking place today, with a revised pay offer on the table.

There have been suggestions that bosses want to implement a five-day week to cope with an increasing work load as the shipyard prepares to take on a major £1.6bn contract to build a Royal Navy supply ship.

The industrial action could mean 100 workers could walk out with just two weeks' notice.

It comes after years of concern over the shipyard, which appeared to be facing an uncertain future in 2019 when it was placed into administration.

Its future was secured when InfraStrata, now Harland and Wolff, acquired it for £6m.

It may not feel like it in the UK right now, but summer is under way and many will be dusting off their passports ahead of jetting away to warmer climes.

They're one of the most important documents we have - but how do passports rate when it comes to value?

According to the Passport Value Index by digital PR agency Tank, the UK passport has lost value for money since its 7% price increase in April.

Tank's research used the Henley Passport Index to find out the number of visa-free access each country's passport grants, and combined this with the passport price, number of years valid and average salaries to create an overall score.

It revealed that the UK has dropped four places from 31st to 35th out of 131 countries after its cost increased from £82.50 to £88.50.

The British passport is valid for 10 years and provides access to 192 countries at a cost of £8.85 a year.

But despite this, it falls down when compared to Spain, which charges £25.80 for a 10-year passport with access to 194 countries, and Germany, which gives access to the same number of countries for £60.21. A French passport sets citizens back £73.97, also letting them travel to 194 countries, while for an Irish passport it's £64.51 for 193.

Of the 131 countries compared, the United Arab Emirates offers the best value for its passport, according to Tank. Its 10-year-passport costs just £10.82 and means citizens can holiday in 184 countries.

Maxine McCreadie, personal finance expert at UK Debt Expert, said many going to renew their passports this year "may be left surprised at the price".

"Households are already battling the rising cost of living and the cost of passports - plus the 10% increase in holiday prices could put a stop to travel plans."

Heinz has confirmed it is discontinuing its vegan salad cream after fans complained that they couldn't find it in shops.

The food company replied to social media users saying the salad cream had "recently been discontinued".

One X user said they were "majorly disappointed" at the decision to stop producing the vegan version of the condiment staple which had been their "favourite since a child".

"Why use eggs if you don't need to?" they asked.

Heinz launched the vegan salad cream in January 2021 alongside flavoured mayonnaises and "Beanz Burgers".

A spokeswoman for the firm told The Grocer that it was "constantly looking" at how it could "improve and innovate to meet changing culinary trends and tastes".

Data seen by the online magazine showed value sales of Heinz's vegan salad cream had fallen by 23.6% in the year to 18 May.