When to forget remortgaging

Homeowners with mortgage loans of less than £100,000 are being warned it might no longer be worthwhile for them to remortgage. Mortgage broker My Mortgage Direct points to Halifax's £599 arrangement fee on a two-year fixed rate deal as an example of where the costs of remortgaging are unlikely to outweigh the benefits for smaller borrowers. 'Arrangement fees have climbed steeply in the past 12 months and look set to remain high,' said Paul Hearnden, managing director of My Mortgage Direct. 'We have reached the point where borrowers are barely saving anything on their monthly payments.'

Even when lenders throw in free valuations and offer to pay the legal costs, the deals might not be worthwhile. However, borrowers who decide not to remortgage to a different lender might still be able to cut their costs by switching to a better deal with their existing lender.

Bank on rise in property prices

A TEN-YEAR residential property investment is being offered by Abbey for people who want to invest between £3,000 and £500,000 without actually buying bricks and mortar. The return will be equal to 200 per cent of the growth in the Halifax house price index between the start of the plan on 21 November and maturity in 2015. The plan is designed to provide full repayment of the original amount invested at maturity, regardless of the performance of the index, although this cannot be guaranteed.

The investment can be made directly or through a stocks and shares Isa, Pep transfer, self-invested personal pension or small self-administered scheme. But investors should be aware that house prices could fall in this period so they might not receive any return beyond their original capital. The offer closes on 4 November - or earlier if it is oversubscribed. The plan is available only through independent financial advisers.

Protection for tenants' deposits

Students renting houses this year will be the last who will not have their deposits covered by the Housing Act 2004. From October 2006, a rental deposit scheme will see most deposits returned within 10 days of the end of the tenancy unless there are good reasons for not returning them.

The National Landlords Association urges this year's tenants to reduce the likelihood of disputes by taking an inventory at the start and end of the tenancy and to report any accidental damage to their landlords immediately. The association also asks landlords to give a written statement in cases where the deposit is not returned in full, explaining why deductions have been made. The new scheme will cover all those renting accommodation in the normal way, not just students.

Remember 30 September

Thousands of taxpayers will be working on their tax returns this month, hoping to file them by 30 September - the deadline for asking HM Revenue and Customs to calculate the tax owing in time for payment day on 31 January.

Keep a photocopy of your completed return, urges the Institute of Chartered Accountants in England and Wales, so you can answer any questions that might arise. You can use it as a base for next year and also supply a copy should the one you sent get lost.

The institute urges people to keep their receipts and other back-up records (you can face a £3,000 fine if you do not) and to compare this year's return to last. If there are big differences - perhaps a decline in self-employed income - this can prompt inquiries by the tax authorities, but you can often pre-empt such attention by supplying your own answers first. More information - including on filing online - is available from www.hmrc.gov.uk.