Nationwide Building Society has increased the rates on a number of its Fixed Rate Bonds and e-Bonds. These include: Three year Fixed Rate Bond and e-Bond paying up to 4.70% gross p.a./AER for balances over £25,000. Two year Fixed Rate Bond and e-Bond paying up to 4.10% gross p.a./AER for balances over £25,000. 18 month [...]
USwitch.com has warned against the dangers of stashing savings away in a fixed-rate bond. Nine million savers have opened a fixed-rate bond in the past year, with 87% choosing a bond over an instant access account because it was the only account they could find paying a “decent” rate of interest. USwitch.com found 10% of [...]
Cater Allen has launched a series of new fixed-rate bonds paying interest at up to 5.25%. The Santander-owned private bank said the bonds offer security of capital and a fixed, guaranteed return. Bonds offered by the bank include a three-year escalator bond, a two-year bond, a 12-month bond, and a nine-month bond. The three year [...]
The interest paid on fixed-rate bonds is improving, according to new research by Moneysupermarket.com. The price comparison site found that the top five fixed-rate bond products pay an average interest rate of 3.89%, despite the Bank of England’s 0.5% base rate. In the past 12 months, the margin between the base rate and the best [...]
Nationwide-owned Cheshire and Derbyshire Building Societies have launched a new range of fixed-rate bonds. The bonds include a one and a two year deal, with interest for both accounts paid either on maturity at 3.75% Gross/AER (3.00% net), or monthly at 3.69% gross (3.75% AER/2.95% net). Minimum investment at Cheshire is £5,000; maximum £2,000,000. Derbyshire’s [...]
Abbey launched a number of new savings accounts this week, including new issue bonds and a Super Saver account. The new bonds pay gross interest at a fixed rate of 2.25% for one year, or 3% for three years. Both options pay more than the current Bank of England base rate. The new 12-month Super [...]
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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