Disability charity Scope is to launch a £20 million bond programme to produce a new source of funds for its charitable activities. The move will see the charity become one of the first in the UK to enter the capital markets. The charity will team up with Investing for Good, a specialist social finance intermediary, [...]
Leeds Building Society has launched a new instant access five year bond paying interest at 3.5%. Savers can access up to 50% of the money saved in the bond at any time without penalty. Leeds said it designed the bond by looking at the other bonds available on the market and coming up with something [...]
Online bank First Direct has launched a new one-year fixed-rate bond paying interest at 2.75%. The bond is only available to First Direct customers, and can be opened with a deposit of between £2,000 and £49,999. No deposits or withdrawals can be made once the bond is opened. Customers who need to withdraw money from [...]
The Coventry Building Society has launched a new 30-month fixed-rate bond paying interest at 4.25%. Savers can open the bond with an investment of between £1 and £250,000, and can choose between monthly and yearly interest payments. No money can be withdrawn from the bond until it matures in August 2012. The bonds are available [...]
Clydesdale Bank has launched a new one-year fixed-rate bond paying interest at 4.5%. The bond is exclusively available to customers also taking out an AXA investment product with the bank. Savers must invest at least £2,000 in the bond, and the equivalent in an AXA investment product. No withdrawals can be made from the bond. [...]
Nationwide Building Society has launched a new four-year Stepped Rate Bond paying a headline interest rate of 5.25%. Interest rates on the bond increase annually. In year one the bond pays 3.75% gross p.a./AER, 4.25% in year two , 4.75% in year three, and 5.25% in year four. Savers must invest a minimum of £5,000 [...]
Santander-owned Abbey, Alliance & Leicester, and Bradford & Bingley have launched a new two-year fixed-rate bond paying interest at 4% gross/AER. The bond is available to new and existing customers, and requires a minimum investment of £10,000. Customers opening the account can choose to have interest paid when the account matures, or monthly with a [...]
Islamic Bank of Britain (IBB) is offering annual returns of 4.5% to investors who open its 24-month Fixed Term Deposit Account. The bank invests its money ethically according to Sharia principles – meaning you won’t putting your money into arms companies, alcohol firms or tobacco companies. The Sharia principles that govern the account also mean [...]
Nationwide has reissued its Legal & General Portfolio Bond, offering savers the opportunity to invest in highly rated funds. Customers opening the bond can put together their own investment portfolio from a range of 21 funds. Savers who rely on their investments for an income can make regular withdrawals from the bond. The minimum investment [...]
A new investment fund from HSBC gives savers the opportunity to benefit from the success – or lose out from the failure – of the world’s leading fund managers. HSBC said the World Selection fund is run by the people it believes are the best fund managers in the world. Savers can only put money [...]
Barclays has launched a new range of fixed-rate bonds paying interest at up to 5.25%. Savers can choose between a one, two, and five year bond, with a minimum deposit of £500. Interest on the five-year bond is paid at 5.25%, on the two year bond at 3.75% and on the one year bond at [...]
Bradford & Bingley has launched a new two-year fixed-rate bond paying 4.35% interest. The bond requires a minimum deposit of £10,000, and no withdrawals are permitted during the life of the bond. Savers looking to take advantage of the bond must have internet access as it is only available online. Reza Attar-Zadeh, director of savings [...]
Leeds Building Society has launched a new three-year fixed-rate bond paying interest at 4.3% gross pa/AER. Savers can open the bond with an investment of between £1,000 and £1,000,000. Interest on the bond is fixed until August 2012, and is paid annually at 4.3%. Interest can also be paid monthly at 4.05% gross pa/4.11% AER. [...]
Barclays Wealth has relaunched its Regular Income Bond with an increased term of six years. The bond, which is linked to the FTSE 100, was previously offered on a five-year term. Returns on the bond are fixed at 7% annually, or 0.57% per month, irrespective of index performance. A capital guarantee is also included, provided [...]
Leeds Building Society has launched a new three-year fixed-rate postal bond paying interest at 4.30%. Customers requiring a regular income from their savings can opt to have interest paid monthly at 4.11% AER. Savers investing in the bond can access up to 10% of the initial amount invested without notice, penalty free. A minimum investment [...]
HSBC this week launched the Onshore Investment Bond, aimed at clients seeking a professionally managed, whole market investment portfolio. The bond offers Independent Financial Advisers (IFAs) a choice of investments in almost 2,000 funds – OIECs and Unit Trusts – from more than 100 fund managers. Two versions of the bond are available – ‘Select’, [...]
Internet bank Egg this week unveiled an instant access savings account and a fixed-rate bond. The Egg Bonus Savings Account pays 2.8% gross pa/AER, including a fixed-rate bonus of 1.55% for the first 12 months. The account can be opened with a minimum investment of £1, and offers the flexibility of unlimited penalty-free deposits and [...]
Saga has launched a new 15-month fixed-rate bond paying interest at 3.82%. Launched yesterday, the Saga Personal Finance Bond guarantees the fixed-rate for the duration of the bond. Savers can open the bond for as little as £1, and can opt to have interest paid on a monthly or yearly basis. Saga said being able [...]
The Nottingham has unveiled a two year fixed-rate bond paying interest at a guaranteed 4.15% AER. Savers can invest between £1,000 and £250,000 in the bond, which is managed remotely by post. A saver investing £25,000 in the bond will see their savings grow by £2,177 before tax through the two year term. According to [...]
Barclays has launched a new three year fixed-rate bond paying interest at up to 4.25% gross p.a./AER. New and existing customers can open the bond online or in branch with a minimum of £25,000 and a maximum of £500,000. Savers can opt to receive interest monthly as a regular income at a rate of 4.17%, [...]
M&S Money launches 3% cash ISA
M&S Money has launched an Advantage Cash ISA paying 3 per cent, and which allows transfers in from other ISAs. It can be opened with a minimum deposit of £100 lump sum followed by minimum monthly deposits of £25. The 3% rate is variable, but there is no short-term bonus so the return won’t plummet [...]
Google suspends UK Compare Mortgages site
Google has closed its UK mortgage comparison site which it launched in July last year, after it proved to be less popular than expected. Mortgage comparison sites are designed to allow visitors to compare mortgages quickly and easily without having to visit each lender’s individual site. Google was competing with several well-established comparison sites, including [...]
AA launches ‘black-box’ policy for young drivers
The AA is launching an innovative car insurance policy called Drivesafe which could help younger drivers save up to £850 a year. Younger drivers already pay substantially higher premiums than other motorists and these costs are increasing. A new study by Confused.com suggests insurance costs for younger driver have gone up by 5.7 per cent [...]
ATOL scheme updated to protect online bookers
ATOL, a financial protection scheme managed by the Civil Aviation Authority, is being extended to protect up to six million more holidays a year. The scheme ensures that holiday makers do not lose out financially if a travel company collapses, and that they are not stranded abroad. An increase in the number of holidays booked [...]
Home repossessions lowest for four years
The number of UK homes repossessed fell to 36,200 in 2011, significantly below the Council of Mortgage Lenders’ forecast of 40,000, and lower than 2010 when 37,100 homes were repossessed. With interest rates remaining low and lenders adopting a sympathetic attitude to customers in financial difficulty, repossessions fell to their lowest level since 2007. However, [...]
Monthly pay lasting just 17 days
Workers are running out of money just 17 days after receiving their monthly pay, according to new research by the Halifax bank. This means that the average UK worker spends half the month worrying about money. The study, based on the responses of more than 2,000 adults, found that 10 per cent of workers start [...]
Women disadvantaged by auto-enrolment changes
Government proposals to increase the auto-enrolment threshold to £10,000 could put 1.8 million women at risk of missing out on a pension, the TUC has warned. Under the auto-enrolment scheme, which will be phased in from October, private sector employers will automatically enrol workers between the age of 22 years and the state pension age, [...]
Emergency household repairs company Homeserve is taking longer than expected to get back on track after its operations were suspended last October. The company expected customer numbers to fall by 5% this year but it has increased this estimate to 8% and announced the loss of 200 jobs. It estimates that renewal revenue in 2013 [...]
Sale rumoured for Yorkshire and Clydesdale banks
There is growing speculation that National Australia Bank (NAB) may sell Yorkshire Bank and Clydesdale Bank after the Australian parent company announced a strategic review of the two banks’ operations. The Australian economy is performing well and NAB reported strong profits for the final quarter of 2011 but with the UK economy at a virtual [...]
More women experiencing debt difficulties
Women in Debt, which offers female-focused debt advice, has warned that the number of UK women facing serious debt has grown significantly over recent years. The organisation believes that more women will need advice on solving debt problems in the future because they are building up an unsustainable level of indebtedness. Women in Debt’s director, [...]
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