Tag: Defaqto

No courtesy car on most car insurance

No courtesy car on most car insurance

Nearly half of car insurance providers do not provide a courtesy car as standard, research by Defaqto found. The study found 49% of car insurance policies would not provide a replacement car following an accident. A further 28% only offer a replacement car if it was selected as an optional extra when the insurance policy […]

June 30, 2010 More
Travel insurance rarely covers airline failure

Travel insurance rarely covers airline failure

Only a quarter of travel insurance policies offer cover if the policy holder is stranded because their airline has gone bust, according to a new study. The research by Defaqto found 77% of travel insurance policies do not cover airline failure. Even insurers that cover airline failure may only offer a refund for the missed […]

June 29, 2010 More
Mortgage deals increase but with existing customer bias

Mortgage deals increase but with existing customer bias

New research from financial analyst, Defaqto, shows that the number of mortgages on offer in the UK has increased to 2,948, up from 1,686 in July 2009. However, there is a snag because lenders are restricting over 25% of their home loans to existing customers. Some offerings exclude all but existing mortgage borrowers while others […]

May 12, 2010 More
Defaqto “impressed” by Co-operative growth

Defaqto “impressed” by Co-operative growth

The Co-operative bank saw a 38% growth in bank accounts over the past 12 months. Despite the recession, the ethical bank reported double digit growth in bank account sales for the third year running. Current account balances in 2009 were 21% higher than in 2008, the bank said. The company also reported a “marked increase” […]

March 23, 2010 More
Inflation sting for savers

Inflation sting for savers

With inflation now above 3.5% it has become close to impossible for savers to get a real return on their savings. Instant access accounts pay an average interest rate of 0.86% gross, equivalent to 0.69% for a basic rate taxpayer and 0.52% for a higher rate taxpayer. This is compared to inflation of 3.7% according […]

February 18, 2010 More
It pays to be promiscuous with credit cards

It pays to be promiscuous with credit cards

Consumers should forget about being loyal to their credit card provider because those who shop around will save money, a financial expert has claimed. “If you have a good credit rating you’re much better off not being loyal to anyone, because of all the introductory offers around,” said David Black of Defaqto. Customers who frequently […]

January 15, 2010 More
Lenders woo current account holders with mortgage offers

Lenders woo current account holders with mortgage offers

Banks are increasingly tempting their current account holders with mortgage offers, as they seek to become “one-stop shops” in financial services. Research from financial products analyst, Defaqto, suggests the number of mortgage offers available exclusively to current account customers is on the rise. According to the firm, Abbey offers free valuations and cash back on […]

January 6, 2010 More
Defaqto expects economic recovery within months

Defaqto expects economic recovery within months

Britain will drag itself out of recession and into economic recovery within months, a financial expert claimed this week. Michael Baxter, economist at financial data research firm Defaqto, said recent research by the Chartered Institute of Purchasing and Supply (CIPS) shows the green shoots of economic growth will begin to emerge in the near future. […]

August 7, 2009 More
Is the recession over already?

Is the recession over already?

Britain’s recession may already have ended, according to a new report. Economic output in the UK re-entered growth during April and May, a government funded thinktank has revealed. Gross Domestic Product (GDP) grew 0.2% in April and 0.1% in May, the National Institute for Economic and Social Research (NIESR) claimed. If this growth continues through […]

June 12, 2009 More
Credit crunch fails to dampen 0% credit

Credit crunch fails to dampen 0% credit

Good deals on personal credit continue despite the credit crunch, research by Defaqto has discovered. Although personal loan rates remain high, with the best interest rates available at around 8%, credit with 0% interest is available on overdrafts and credit cards. Seven in ten (69%) credit cards offer a 0% introductory interest rate on balance […]

May 27, 2009 More
Supermarkets in a strong position to compete with banks

Supermarkets in a strong position to compete with banks

According to Defaqto’s latest assessment of the banking market, supermarkets are well placed to take on High Street banks by offering a range of banking services. Defaqto’s report, titled “Retail Banking: Challenging Times”, has established that the reputation of supermarkets means they are in a strong position to compete with High Street banks. The report’s […]

May 12, 2009 More