Direct payment saves cash

The average average household could save up to £187 a year by paying bills through direct debit, according to BACS Payment Schemes which runs the direct debit service in the UK. It calculates that those paying by direct debit pay total utility bills of £2,050 a year - a saving of up to £187 because of the discounts offered by suppliers to those who commit to monthly direct debits. The biggest savings are possible on gas bills - where DDs typically cut the annual bill by £65; and electricity - where savings of up to £40 can be made. All sorts of suppliers give these discounts, covering motor breakdown, telephone etc. More information is available on www.directdebit.co.uk

Grown-up rates

Adults are being offered a highly attractive rate of 6 per cent gross on the new My Savings account from Scarborough building society. Between 10 and 12 monthly payments of between £10 and £250 must be made each year, and only one penalty-free withdrawal a year is allowed. The account can be set up as a normal taxable account or as a tax-free Mini Cash Isa. Available through branches or on 0845 458 4522.

Re-lease of life

Age Concern is launching a free 20-page guide to equity-release mortgages (available on 0800 169 5276). 'Raising income or capital from your home' helps people decide whether a lifetime mortgage or a home reversion scheme is more suitable for them.