The Week Unzipped: New website aims to help families keep their finances in rude health

A TEN-minute online healthcheck has been launched to point consumers in the right direction for advice on household finances.

The free and impartial website has been developed by the government-backed Money Advice Service, which is paid for by a levy on financial services providers.

The healthcheck, at www.moneyadviceservice.org.uk/healthcheck, features an action plan to help people stay on top of their money and plan to meet future goals.

Visitors to the site have to answer multiple-choice questions about their personal budgeting. The responses are the basis for a personal plan of action and a list of suitable advice groups.

Gerard Lemos, chairman of the Money Advice Service, described it as the money equivalent of a reliable sat-nav.

"We help people to see where they are now, and then we help them get from A to B by the best route for them.

"Most importantly, our advice is free and unbiased and we will not sell them anything.

"In less than ten minutes the healthcheck identifies the top three things you and your family can do to make the most of your money right now, and to plan for future goals."

Saracen launches fund

INVESTORS looking for income and exposure to global stocks have another option available to them from tomorrow with the launch of the Saracen Global Income and Growth fund.

The Edinburgh-based independent investment manager said the fund was developed in response to investor demand for income in a low interest rate environment, with cash and government bonds expected to offer poor real returns.

The fund, run by Saracen chief executive Graham Campbell and co-manager Daniel Leaf, will invest in a portfolio of industry-leading companies that they believe can supply dividend growth from an initial yield of 3.5 per cent.

The managers are investing some of their own money in the fund, which has an annual management fee of 0.75 per cent.

Campbell said: "Global diversification increases choice and potentially reduces risk whilst increasing real return. This is appealing in an environment where UK income funds are constrained by a limited choice of suitable investments."

Property rents stabilise

DEMAND for rented accommodation continues to rise in Scotland as would-be buyers struggle to secure mortgage finance.

The rise in demand is now being matched by an increase in the supply of rental property, according to the latest residential lettings survey by the Royal Institution of Chartered Surveyors (Rics), which said rents were stable in the three months to April.

It said 24 per cent more surveyors reported a rise in rents over that period than saw a fall, a lower proportion than the previous three months. While 26 per cent more surveyors said tenant demand rose in the three months than reported a fall, 7 per cent more reported new instructions to let than saw a fall.There was a sharp increase in the number of flats hitting the market, with a more modest rise in the number of houses available for tenants.

Most surveyors expect rents to rise again over the coming months, said Graeme Hartley, director of RICS Scotland.

"There has been an uplift in supply, but this is balanced by more landlords opting to sell at the end of a tenancy, meaning the imbalance between demand and availability will continue to some extent and can only mean rents will continue to rise," he said.