Finance | Mortgages, Credit cards, Insurance, Savings, Investments
Alliance & Leicester launches new 9 month Business Bond
Alliance & Leicester Business Banking has launched a new limited edition 9 month Fixed Rate Business Bond, with a great fixed interest rate of 2.81% AER (2.80% gross), maturing on 1 March 2010.
Basic bank accounts and financial inclusion - final quarter of 2008
Latest figures from the BBA show that another 142,000 post office accessible accounts were opened in the final quarter of last year and 19,000 existing accounts upgraded.
Switching soars
The latest internal data from The Co-operative Bank Current Accounts has revealed a 123% annual increase in customers switching their current accounts to The Co-operative Bank.
British expats grapple with falling Sterling
The changing fortune of the Pound has increased the cost of moving overseas significantly in the last six months and Britons already living overseas on English savings or pensions are experiencing significant price hikes. With the value of the Pound reaching record lows against the Euro in January, the cost of living as an expat in Europe remains almost 19 per cent more expensive than it was six months ago, in November 2008.
Bank of Scotland International launches Portfolio Plus Issue Two
Bank of Scotland International has launched a new structured deposit product, 'Portfolio Plus Issue Two', providing customers with an opportunity to receive a high rate of return while guaranteeing their original deposit.
Figures prove the need for online caution
The dangers of internet scams are highlighted by the disturbing 207% rise in the number of facility takeover frauds recorded by Members of CIFAS - the UK's Fraud Prevention Service.
More than 200,000 secret credit cards in the UK
New research from Halifax Credit Cards shows we're not always entirely honest with our other halves on matters of finance. The Halifax findings revealed that we hide an estimated 217,000 credit cards from our partners.
Brits get ready to shift the pounds in New Year credit card transfer
More than 3 million Britons (7 per cent) are expected to shift over £7 billion pounds between credit cards in the first three months of 2009, as they take advantage of introductory balance transfer periods, new research from Abbey Credit Cards has revealed.
London is the capital of card fraud
Card fraud has dramatically increased in London over the last year with more than two million, over one in three, Londoners now having fallen victim.
Last minute Christmas spending approaches £9.15 billion
This Christmas, it would appear that people intend to spend less on their festive shopping than they did last year. With only a week to go to Christmas, new research from Sainsbury’s Credit Cards indicates that the nation intends to spend some £9.15 billion during the last week before Christmas - £446.6 million less than the bank’s research identified this time last year.
Tiscali becomes part of TalkTalk
TalkTalk is buying Tiscali UK in a £236 million cash deal which will create Britain’s largest consumer broadband provider with over 4.25m customers covering over 25% of all UK households.
TalkTalk's acquisition of Tiscali's UK operations
Michael Phillips, product director of BroadbandChoices.co.uk comments: "In our two most recent Customer Satisfaction Surveys, TalkTalk has repeatedly scored higher than Tiscali so this should bode well for Tiscali customers who will now be part of the same group."
British Gas consolidates its position at the top of best buy tables
Gareth Kloet, head of utilities at Confused.com, comments on British Gas's decision to ease the financial burden for 4.5million customers, by reducing its standard electricity prices by 10%: "British Gas's latest announcement reaffirms its position as the cheapest electricity supplier in Britain, with rates of up to £111 less than those provided by some local suppliers. Following hot on the heels of its 10% February price cuts for gas, British Gas customers will now save an average of £132 on their dual fuel annual bills
TalkTalk to offer free local calls anytime
Michael Phillips, product director at HomePhoneChoices.co.uk said: "TalkTalk's latest deal is a great offer and should provide a meaningful cost reduction for customers, however we hope this is a long term change in policy rather than just a short term marketing ploy. This offer is clearly targeted at incentivising customers to switch from BT, so we hope they have the necessary support staff in place to cope with any surge in demand.
Recycle your old phone and ring in the pounds
Six months on from moneysupermarket.com's first annual ‘National Recycle Your Phone Week', savvy moneysupermarket.com users have recycled almost 20,000 old mobile handsets, making an average of £43 per person.
The simple life is back as Brits say no frills, no problem
Britons are adopting a ‘no frills' lifestyle to combat the credit crunch and shunning flashy or complicated purchases to make their money go further, new research from Abbey Credit Cards has revealed.
Cutting down on the cost of taking a shower
The energy efficiency arm of performance improvement company Grass Roots, has teamed up with eaga, the UK’s leading provider of residential energy efficiency solutions, in an initiative to distribute free shower attachments – known as an eaga ShowerSmart – to any household in Britain that requests one.
Newlyweds need to be newly covered
Newlyweds could add several thousand pounds to the value of the contents of their home once married, with guests at their wedding spending an average of £79 on each gift, according to research from Direct Line. As a result, a wedding with just 50 guests could mean £3,950 worth of gifts, while 150 guests could give a massive £11,850 in presents.
Norwich Union advises tradesmen to adopt safe working practices
Norwich Union, soon to be Aviva, is urging tradesmen to adopt best working practices to protect themselves, their customers and their business, as part of its 2009 Simply Safety campaign.
Ten simple tips to ease the stress of being in a car accident
Being in a car accident is a traumatic experience, but it can be made worse if there is a dispute as to who was at fault, if the other driver is from overseas or if anyone is injured.
Tesco Health Insurance launches three new levels of cover
Tesco has launched three new levels of health cover in response to customers' feedback asking for a straightforward, flexible product. The three levels are; Operations and Procedures, Consultations and Tests, and Additional Therapies.
Preventing bike theft
Following today's news that Conservative leader David Cameron has had his bicycle stolen for the second time since last summer, bicycle insurers MORE TH>N are offering him some handy advice on how to ensure his next bicycle stays safe.
LV= extends free Critical Illness for new Income Protection customers
Protection specialist LV= has extended its free critical illness (CI) cover offer to the end of 2009. All new customers taking out an income protection (IP) policy under the LV= Flexible Protection Plan by 31 December 2009 will receive free lump sum CI cover equivalent to three times their monthly income protection benefit.
Bright Grey launches instant acceptance life cover
Protection specialist Bright Grey, part of the Royal London Group, is launching Lifestyle Protection, paving the way for faster, cheaper and simpler life and critical illness insurance.
Whatever you ride
Bennetts, UK bike insurer, has this week launched a new creative campaign that forms part of an overall re-brand for the bike insurance provider. The company is reinforcing its appeal to a cross-section of bikers with its new ‘Whatever You Ride' creative, reflecting the diverse nature of the British biking community.
Medical conditions affect one in eight pets under age of three
Cat and dog owners are putting their finances at risk by not insuring their pets as soon as they acquire them, according to Sainsbury's Finance. Every year, one in eight (12%) cats and dogs under the age of three suffers from some form of medical condition which may recur later in life, or be linked to other conditions. The bank is warning that if pet owners don't take out a pet insurance policy as soon as they buy a pet, any illnesses occurring during this time could be regarded as pre-existing medical conditions when they do come to take out insurance. These conditions and sometimes those that are linked in some way, can therefore be excluded from the cover.
Advice to travellers on Swine flu
The British Insurance Brokers' Association has offered advice to travellers who are concerned about Swine flu.
Swine flu advice from Confused.com
New research from Sainsbury's Loans reveals that there are currently just four lenders, of which it is one, offering an APR of less than 8% on unsecured loans on loan amounts between £5,000 and £15,000.
Threadneedle launches Credit Opportunities Fund
Threadneedle has expanded its Absolute Return range, with the launch of the Threadneedle Credit Opportunities Fund, to be managed by Head of High Yield, Barrie Whitman. Working closely with Barrie on the Fund's management is high yield fund manager Roman Gaiser and investment grade credit fund manager Alasdair Ross. The Fund is authorised for distribution in the UK and will be registered in the coming months for distribution in Europe.
Child Trust Fund contributions set record levels
Child Trust Fund contributions are at their highest level ever with regular monthly subscriptions at £14.8m and lump sum payments to date in excess of £105m according to the latest quarterly survey conducted by TISA - Tax Incentivised Savings Association.
Cost cutting is the new corporate buzzword across Europe
Alan Thompson Economist, at Scottish Widows Investment Partnership (SWIP): Euro area economic activity is contracting sharply, with survey evidence suggesting that there will be no quick rebound. Despite the pickup in EC and PMI survey based indicators, they remain deep in recession territory. The financial engineering of the last few years, and the development of a shadow banking sector, led to risk being systemically underpriced, a situation which is currently being rapidly unwound. The financial sector appears to have stabilised, but the economy is only just beginning the adjustment process to a credit constrained environment, which is likely to be arduous for both the consumer and the corporate sectors. Indeed, consumer and business confidence indicators remain at extremely low levels, reflecting the strains of this adjustment. In addition, although the external environment appears to have stabilised, the world economy is expected to record the deepest recession since 1945, which will constrain net export growth. We expect euro-area GDP to contract by 3.9% in 2009, with only modest growth of around 0.5% in 2010.
New Guaranteed Equity Bond from NS&I
This will offer a gross return that matches any growth in the FTSE 100 index over a 5-year term, up to a maximum of 35%, without any risk to investors' capital.
Barclays Stockbrokers equity ISA sales increase
Interest rates have fallen to record lows this year, and investors have to work harder to get returns. As a result, Barclays Stockbrokers has seen new ISA account openings increase significantly (up by 37%) in the 2008/9 tax year end period compared to the same time last tax year. Existing investors are also ensuring that they make the most of their tax free allowance; top-ups (additional contributions into existing ISA accounts) in the tax year end period have increased by 69% compared to last year. Barclays Stockbrokers has seen assets under administration (AUA) invested in ISAs for the 2009 tax year end period increase by 150% compared to the previous year5. This trend looks set to continue into the new tax year, with 85% of investors planning to invest in an ISA in the 2009/10 tax year.
F&C Commercial Property Trust shareholders vote for continuation
At an extraordinary general meeting (EGM) on Friday 1 May, investors in F&C Commercial Property Trust voted overwhelmingly in favour of continuing the company.
Loan rates jump 44%
Borrowers looking for an unsecured personal loan have seen rates jump by up to 44% in just two years.
Economy still hurting but households start to cope
Applications for payday loans are at last starting to plateau, indicating that plummeting inflation and falling mortgage rates are finally having a positive impact on households.
Black Horse deal brings greater choice
The secured lending arm of Lloyds Banking Group, Black Horse, is offering an exclusive rate through price comparison site moneysupermarket.com.
Coventry cuts rate on 5 year fixed mortgage
The Coventry has reduced the rate on its 5 year residential mortgage by 0.2% to 4.49%. The offer is highly competitive and includes a free valuation up to £640 and a free legal package for those wishing to remortgage.
Buy to let market no longer a place for the novice landlord
Andrew Hagger of Moneynet.co.uk looks at drastic changes seen in the Buy to let mortgage market since the onset of the credit crunch.
Woolwich cuts mortgage rates
For customers looking to fix their mortgage rate, the cuts mean they can sign up for two years at 3.69 per cent (a reduction of 0.40 percentage points for loans up to 70 per cent loan to value) and 4.99 per cent for loans up to 80 per cent loan to value (a reduction of 0.70 percentage points).
Britannia launches new flexible mortgages
Britannia Building Society is launching the following flexible mortgages on Friday 24th November 2006:
Borrowers realising the benefits of flexible offsetting account
With interest rates at historically low levels Yorkshire Building Society has seen a sharp increase in the number of borrowers choosing offset mortgages.
YBS launches capped tracker with reduced fees and cashback
Yorkshire Building Society has launched a new two-year tracker product with an interest rate of 3.19% (BoE + 2.69%) capped at 5.49%.
Keeping pensions in the family
A new SIPP from AXA has been launched, offering families and business partners a flexible way to invest together, tax efficiently.
Equality Bill threatens future of ‘silver saver’ accounts
The Government's new Equality Bill, due to have its Second Reading in the Commons on 11 May, could outlaw savings accounts aimed specifically at the over 50s age group.
Sainsbury’s increases interest rate on Internet Saver account
Sainsbury's Finance has announced that all customers who took advantage of its special offer on its Internet Saver account between 14th April and 30th April will see their interest rate increase from 2% Gross AER to 2.6% Gross AER.
Norwich and Peterborough launches 2 year E-Bond
Norwich and Peterborough Building Society (N&P) has launched a new two year E-Bond. The main features:
Pocket money comes of age
In October 1987, Halifax surveyed members of the Little Extra's Club gaining their opinion on pocket money.
Council tax tops table of most hated taxes
Brits resent having to pay council tax as one of their three most resented taxes in 2009, according to new research by Unbiased.co.uk, the professional advice website. Almost half (43%) of UK adults listed this as one of their top three most hated taxes, knocking off fuel duty from the top of the table in 2008. Fuel duty now sits in 3rd place, with 38% of people resenting this.
UK tax payers waste more on IHT payments than any other tax
UK taxpayers are wasting millions of pounds due to poor IHT planning according to annual research by Unbiased.co.uk, the website promoting the benefits of independent financial advice.