Yorkshire Building Society has announced a new range of fixed-rate bonds paying interest at up to 4.6% gross/AER. Customers can choose between two year, three year and five year options. Interest is paid at 3.56% on the two year bond, 4.11% on the three year bond, and 4.6% on the five year bond. Savers can [...]
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 [...]
Accord Mortgages has launched a new ten-year fixed rate deal with loan-to-value ratios of between 75% and 85%, and a starting rate of 5.24%. The Yorkshire Building Society subsidiary has also made a number of rate reductions across its range, cutting five-year fixed rates by up to 0.5%, and two and three-year fixes by 0.35% [...]
The Co-operative Bank and Britannia today launched a new five-year mortgage at a fixed-rate of 3.99%. The mortgage is available to homeowners with a deposit of at least 25%. Borrowers taking out the mortgage are required to pay a £999 fee. The two providers, which merged last year, also announced a two-year fixed rate mortgage [...]
Savings experts have warned that a new Football Bond from Nationwide is a World Cup “gimmick”. Customers who take out the bond will he paid a bonus if England wins the World Cup trophy this summer. The four-year fixed rate bond pays 4.15% (AER) gross per year. If England win the World Cup, the interest [...]
Applications for home loans have bounced back to February 2008 levels, according to Countrywide. The mortgage broker has reported a 20% increase in applications during March (compared to February) marking the third consecutive monthly rise. Looking back over the first quarter of 2010, volumes were up 9% year-on-year indicating that property buyers have a renewed [...]
The number of loans advanced for house purchases increased by 12% in February, showing a modest recovery on January when the figures were weak due to the end of the stamp-duty holiday and the severe winter weather. According to the Council of Mortgage Lenders (CML) 35,000 house purchase loans were advanced worth £5 billion, up [...]
Leeds Building Society this week launched an ISA paying interest at 4.6%. The five-year fixed rate account can be opened with just £1. Savers can access up to 25% of their savings at any time without notice or penalty. Kim Rebecchi, Leeds Building Society’s Sales and Marketing Director said the ISA is a “market leading [...]
Nationwide Building Society has launched a new four year fixed-rate ISA paying interest at 4.25%. The ISA can be opened with a minimum balance of £1, and transfers from previous ISA savings are accepted. Nationwide also announced that its three year fixed-rate ISA paying interest at 4.15% will now only be available to existing Nationwide [...]
High inflation continues to diminish the value of money put aside into savings accounts, a financial expert has claimed. Michelle Slade of Moneyfacts.co.uk said that with the Consumer Price Index at 3%, basic rate taxpayers need to find a savings account paying 3.75% interest to ensure their savings pot retains its full value. However, only [...]
The average cost of a two-year fixed-rate mortgage fell to a six-and-a-half-year low during February, according to new figures from the Bank of England. The average rate stood to 3.88%, down from 3.97% a month earlier to a level last seen in July 2003. Five-year fixed-rates also eased last month, declining to an average 5.49%, [...]
Santander’s ISA has been rated top in Moneynet.co.uk’s best buy charts. The ISA, paying 3.5%, pipped Barclay’s offering to the top spot. Both Barclays and Santander are paying high rates than the best one-year fixed-rate ISAs. “The Isa market is really taking shape as we approach the annual hot bed of activity as providers look [...]
Coventry Building Society has announced plans to reduce the rates on its residential re-mortgage products. The new lower rates include a 2-year fixed-rate deal at 3.5% with £999 fees at 65% loan to value. The lender also revealed a new fixed-rate mortgage offering borrowers the opportunity to make unlimited overpayments without penalty. The new range [...]
The fixed-rate mortgage has just passed its 21st birthday, having been launched by Halifax in 1988 at an astonishing rate of 12.75%. However, the lender is celebrating the enduring appeal of this type of home loan with the following facts and figures: By 2009, 68% of new mortgage lending took the form of fixed-rate deals, [...]
Tracker rates fell to record lows in January, Bank of England statistics have revealed. For those with a 25% deposit, the rate on the average tracker deal declined to 3.63%, down from 3.92% in December. The shift indicates that competition is hotting up, given that the base rate has now been maintained at 0.5% for [...]
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 [...]
Santander has launched new two year tracker and fixed rate mortgage products, and has reduced the rate on its five year fixed rate mortgage. The two year mortgages are available to both first time buyers and home-owners at up to 70% loan-to-value (LTV) Interest on the fixed-rate mortgage is 3.44%, while interest on the tracker [...]
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. [...]
The Nottingham has launched a new fixed-rate savings account aimed at customers who want to save “little and often”. The Fixed-Rate Regular Saver pays interest at 5%, and can be opened with a minimum deposit of £10. Savers can set aside up to £100 per month into the account, and are not penalised for missing [...]
European equities markets were higher Tuesday as banks came back from big declines on Monday, helped by a statement from Societe Generale’s (Euronext: GLE) CEO that his bank is healthy. The FTSE 100 was up 0.87 percent to 5,174.25 in London, while the FTSE 250 added 0.27 percent to 10,011, with banks the best performers [...]
Rics: Housing market remains in the doldrums
The Royal Institution of Chartered Surveyors (Rics) has today reported that the UK housing market remained weak in August with house prices falling further. According to the Institution, homeowners remain reluctant to put their properties up for sale, while buyers continue to struggle to secure a mortgage and remain uncertain about the economic climate. The [...]
CML: Mortgage lending edges higher in July
The Council of Mortgage Lenders (CML) has reported the number of loans for house purchase rose in July. According to the Council, there were 48,400 loans advanced for house purchase in the month – up by 1,000 from June’s figure but almost 7,000 lower when compared with July 2010. Commenting on today’s figures, Paul Smee, [...]
UK inflation edges higher in August
The Office for National Statistics (ONS) today announced Consumer Price Inflation (CPI) rose to annual rate of 4.5% last month from July’s rate of 4.4%. However, the figure was in line with analysts’ expectations. Higher inflation continues to be led by rising food costs but the main reason behind last month’s rise was a 5.1% [...]
Fresnillo down on silver prices
European equities markets were lower Monday on the possibility that Greece could default soon and on speculation that Moody’s Investors Service could cut its rating on several big banks with holdings tied to Greece. The FTSE 100 was down 1.63 percent to 5,129.62 in London, while the FTSE 250 dropped 1.65 percent to 9,983.75 as [...]
IFS warns of tough times for UK households
A report by the Institute for Fiscal Studies (IFS) has warned that households will be squeezed for the next decade as they suffer from the harsh spending cuts introduced by the Government. It said households are suffering one of the worst attacks on their finances since the Second World War and that the impact of [...]
ICB final report recommends ring-fencing
The Independent Commission on Banking’s (ICB) final report has been published today and is recommending that UK banks should ring-fence their retail banking operations. According to the report, ring-fencing would protect banks from riskier investment banking divisions and would “make it easier and less costly to resolve banks that get into trouble”. The ICB, which [...]
Tullow Oil leads 100 in London
European equities markets were significantly lower Friday on an increased possibility that Greece could default on its debt as soon as this weekend, raising the concern level over the European region’s debt problems and ratcheting up worries that the economic recovery is faltering. Additionally, markets reacted to the resignation of European Central Bank board member [...]
SMMT: UK car sales rise in August
The Society of Motor Manufacturers and Traders (SMMT) have revealed UK car sales saw their first rise in 14 months in August. According to the trade body, car sales rose by 7.3% in August compared with the same month in 2010, with sales of smaller cars rising by more than 30%. The Ford Fiesta remained [...]
Factory gate inflation higher than expected in August
The Office for National Statistics (ONS) has today revealed UK producer output prices held steady in August – remaining at the highest annual rate since October 2008. According to the ONS, output prices (factory gate) annual inflation for all manufactured products held steady at July’s upwardly revised reading of 6.1% in August. The figures were [...]
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