Tag: Moneyfacts

Moneyfacts reports fall in number of savings accounts

Moneyfacts reports fall in number of savings accounts

The Funding for Lending Scheme (FLS), launched by the Bank of England and the Treasury this summer, has caused a sharp fall in the number of accounts available for savers, according to Moneyfacts, a leading provider of personal finance data. FLS is designed to increase the availability of mortgages and business loans by providing banks […]

December 12, 2012 More
Accounts failing to inflation-proof savings

Accounts failing to inflation-proof savings

Research by comparison site Moneyfacts has found that there is not one single savings account currently available that will completely protect taxpayers’ savings from the effects of tax and inflation. The latest figures show that inflation fell slightly in November, from 5.0 per cent to 4.8 per cent, on the Consumer Prices Index. This means […]

December 16, 2011 More
CBI says pensions should fund house buying

CBI says pensions should fund house buying

The CBI is calling for a radical rethink in the way house purchases are funded including allowing buyers to dip into their pension pot for the deposit on their first home. The number of first-time buyers fell from a high of 167,400 in 2001 to 36,200 in 2011 with unaffordable deposits and financial insecurity making […]

November 11, 2011 More
Report reveals rise in mortgage availability

Report reveals rise in mortgage availability

Figures from Moneyfacts have revealed in the number of mortgage products. The credit crunch resulted in a tightening of lending criteria and mortgages have been hard to secure without a substantial deposit. However, the number of different mortgage products has risen to its highest level since November 2008, according to Moneyfacts, due to increased competition. […]

July 5, 2011 More
Mortgage products increase but FTBs still struggling

Mortgage products increase but FTBs still struggling

First-time buyers (FTBs) are still struggling to get a foot on the ladder, despite a steep rise in the number of mortgage products available. Mortgage deals for those with a small deposit has doubled, according to Moneyfacts.co.uk, with more than 1,000 mortgages on the market for those with a 20% deposit or less. However, while […]

December 2, 2010 More
Mortgage lenders hold out on large deposits

Mortgage lenders hold out on large deposits

Despite a rise in the number of mortgage deals on offer, a large deposit remains essential in securing a competitive loan, both for house purchasers and remortgagers. According to research by Moneyfacts Group for the BBC, the number of mortgage products available has risen 66% so far this year, to 2,351. However, the financial researcher […]

August 3, 2010 More
New High Street bank opens in London today

New High Street bank opens in London today

Metro Bank, which aims to make banking a “fun retail experience” opens in Holborn, central London today. The bank is Britain’s first new high street lender for more than a century and it has pledged to return to “core banking values”. The bank said it will employ more cashiers than the existing “big four” banks, […]

July 29, 2010 More
Nationwide’s football bond is “gimmicky”

Nationwide’s football bond is “gimmicky”

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 […]

May 18, 2010 More
Rise in house purchase mortgage deals

Rise in house purchase mortgage deals

Home buyers with a zero to 40% deposit currently have 1,798 mortgage deals to choose from, according to Moneyfacts.co.uk. Researchers at the financial website have registered a 6% rise in the number of home loans on offer in the past month, taking the total up 68% year-on-year. While those with 5% or less to put […]

March 8, 2010 More
Savvy consumers look for best credit deals

Savvy consumers look for best credit deals

Consumers are increasingly taking the time to search out the best deals on personal loans and credit cards. Financial advice site Moneyfacts said since the onset of the credit crunch, Brits who need to borrow money are shopping around for the lowest interest rates. Darren Cook, Moneyfacts spokesperson, said: “The Bank base rate being maintained […]

March 4, 2010 More
Former Government adviser calls for credit card investigation

Former Government adviser calls for credit card investigation

Dr Ros Altmann, a former Downing Street pensions adviser, believes there should be an inquiry into the profit margins of credit card companies. Dr Altmann, who is a former academic and independent expert on pensions policy and retirement, believes there might be a case for a regulator to oversee the rates they charge. Last week, […]

February 21, 2010 More
Credit card interest rates soar to 12-year high

Credit card interest rates soar to 12-year high

New research has revealed that millions of credit card holders could face severe debts after card providers have put interest rates up to a 12-year high. The Bank of England’s base rate has been at the historically low rate of 0.5% for almost a year but despite this, average credit card interest rates have risen […]

February 16, 2010 More
Pensions income drops 70% in a decade

Pensions income drops 70% in a decade

The value of the average pensions pot has plummeted 60% over the past decade, according to research by Moneyfacts.co.uk. The financial advice site blamed a combination of poor stock market returns and plunging annuity rates. During the same period, the average pensions income has fallen by almost three quarters. The pensions income of a male […]

February 11, 2010 More
Twenty per cent rise in home loans on offer

Twenty per cent rise in home loans on offer

The UK’s mortgage market looks set to continue its recovery into 2010, with a 20% rise in the number of home loans available since the beginning of the year. According to Moneyfacts.co.uk, the surge has led to a 26% increase in deals offering up to 90% loan-to-value and therefore requiring the size of deposit accessible […]

February 4, 2010 More
Pension annuity rates plummet 45%

Pension annuity rates plummet 45%

Newly retired pensioners on an annuity pension are receiving nearly half the income of those who retired 15 years ago, research has found. Annuity rates have hit record lows, plummeting by 45% since 1994. Annuities are used by people with defined contribution pensions, or personal pensions, to convert their savings into a retirement income. A […]

December 9, 2009 More
Lenders return to 90% LTV market

Lenders return to 90% LTV market

New research from Moneyfacts shows that the UK’s mortgage lenders are becoming less scared of offering high loan-to-value (LTV) ratios. According to the price comparison website, the number of mortgages available to borrowers with a 10% deposit rose from 56 in August, to 114 in November. However, availability remains severely contracted when compared to the […]

December 1, 2009 More
Rates continue to plummet on savings accounts

Rates continue to plummet on savings accounts

One in ten savers have had interest rates cut on their accounts in the past six months despite the Bank of England’s base rate being held, according to new research. A study by Moneyfacts found 10% of variable savings accounts are paying lower rates than they were in May. Only 3.5% of variable rate accounts […]

November 7, 2009 More
Ecclesiastical wins ethical investment award

Ecclesiastical wins ethical investment award

Ecclesiastical Investment Management was named the Best Ethical Investment Provider at the 2009 Investment, Life & Pensions Moneyfacts Awards. Sue Round, EIM’s head of investments, said the company was “thrilled” to be awarded the accolade. “Not only does it reflect the excellent fund performance and high levels of client service we have achieved over the […]

October 2, 2009 More
Consumers use spare cash to pay off debt

Consumers use spare cash to pay off debt

Consumers are using their spare cash to pay off debts rather than stashing it away in a savings account, Moneyfacts has observed. Michelle Slade, spokesperson for the consumer advice site, said many people are using money they’re saving due to low interest rates on mortgages to pay off personal loans and credit cards. Slade believes […]

September 22, 2009 More
Yorkshire Building Society launches 5.3% bond

Yorkshire Building Society launches 5.3% bond

Yorkshire Building Society has launched a new five-year fixed-rate savings bond paying interest at 5.3% gross/AER. The building society also launched a three-year bond paying a fixed-rate of 4.65% gross/AER. Both bonds require a minimum investment of £100 and can be opened in branch, over the telephone, or online. Financial advice site Moneyfacts.co.uk said the […]

September 18, 2009 More