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 [...]
Leeds Building Society has launched a five-year fixed-rate cash ISA paying a market-leading interest rate of 4.6%. Customers can withdraw up to 25% of the amount invested at any time, without notice or penalty. The account can be opened with a minimum of £1, and allows savers to transfer in their ISA balance from previous [...]
Savers looking to lock their money away in exchange for higher interest rates are being urged to consider a new online bond from Barnsley Building Society. The UK’s third largest building society this week launched the five-year fixed-rate online bond paying interest at 5.1% gross (4.08% net). Customers can only open the account online, depositing [...]
Leeds Building Society (LBS) has launched a new five-year fixed-rate mortgage at 5.1%. Available at a loan-to-value (LTV) of up to 75%, the mortgage deal has no higher lending charge. Borrowers can repay up to 10% of capital each year without penalty, and free in-house legal services are provided for customers re-mortgaging. An LTV of [...]
Abbey has launched a new range of fixed-rate mortgage products which it claims are the best it has offered in a decade. The Santander-owned bank said interest rates on three of its new mortgages are the lowest in ten years. Available at a maximum 75% loan-to-value (LTV), the new products include a 3-year fix at [...]
Nationwide has unveiled two new five year fixed-rate bonds, paying interest at up to 4.15% gross p.a./AER. The building society yesterday launched both the Five Year Fixed Rate Bond and the Five Year e-Bond to new and existing customers. Andy McQueen, Nationwide’s savings and mortgages director, said: “I’m delighted to announce the launch of our [...]
The National Housing Federation (NHF) is predicting that UK residential property will make a strong comeback from 2010. According to the body, which represent 1,300 not-for-profit housing associations in England, the current market downturn will be followed by five-years of property price inflation, during which the value of homes in England will rise 25%. Working [...]
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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