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News Tag: Defaqto

June 30, 2010

No courtesy car on most car insurance

by David Masters
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 was purchased. Only a quarter (23%) of policies ...




June 29, 2010

Travel insurance rarely covers airline failure

by David Masters
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 flight, and not for other components of a ...




May 12, 2010

Mortgage deals increase but with existing customer bias

by Gill Montia
”Mortgage
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 are available to current account ...




March 23, 2010

Defaqto “impressed” by Co-operative growth

by David Masters
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" in customers transferring to the bank from other providers. Financial research firm Defaqto said the growth ...




February 18, 2010

Inflation sting for savers

by David Masters
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 to the Retail Prices Index (RPI), and 3.5% according to ...




January 15, 2010

It pays to be promiscuous with credit cards

by David Masters
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 switch providers get the best rewards, ...




January 6, 2010

Lenders woo current account holders with mortgage offers

by Gill Montia
”Lenders
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 certain mortgages to their Abbey or ...




August 7, 2009

Defaqto expects economic recovery within months

by David Masters
”Defaqto
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. The CIPS/Markit Purchasing Managers' Index for manufacturing, published ...




June 12, 2009

Is the recession over already?

by David Masters
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, and is confirmed by official quarterly statistics in July, ...




May 27, 2009

Credit crunch fails to dampen 0% credit

by David Masters
”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 transfers for an average of 9.7 months. Virgin's ...




May 12, 2009

Supermarkets in a strong position to compete with banks

by Kay Mitchell
”Supermarkets
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 author, David Black, comments: “Supermarkets ...