News Tag: Moneyfacts
March 8, 2010
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 down continue to struggle, the number of mortgages ...
Rise in house purchase mortgage deals
by Gill Montia
March 4, 2010
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 at a historical low for 12 months ...
Savvy consumers look for best credit deals
by David Masters
February 21, 2010
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, research by financial advice ...
Former Government adviser calls for credit card investigation
by Kay Murchie
February 16, 2010
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 to over 18% - the ...
Credit card interest rates soar to 12-year high
by Kay Murchie
February 11, 2010
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 who has contributed £100 per month for 20 ...
Pensions income drops 70% in a decade
by David Masters
February 4, 2010
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 by first-time buyers.
The financial ...
Twenty per cent rise in home loans on offer
by Gill Montia
December 9, 2009
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 65-year-old man will now receive only £625 per year for ...
Pension annuity rates plummet 45%
by David Masters
December 1, 2009
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 509 home loans at 90% LTV being ...
Lenders return to 90% LTV market
by Gill Montia
November 7, 2009
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 have seen interest rates increase over the ...
Rates continue to plummet on savings accounts
by David Masters
October 2, 2009
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 year, but is also real validation of our decision ...
Ecclesiastical wins ethical investment award
by David Masters
September 22, 2009
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 low-interest rates on savings accounts are ...
Consumers use spare cash to pay off debt
by David Masters
September 18, 2009
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 bonds are both "amongst the market leaders in their ...
Yorkshire Building Society launches 5.3% bond
by David Masters
September 15, 2009
Ethical investment funds have lagged behind the performance of conventional funds over the past 12 months, falling by an average of 16.7%
Only three out of 60 ethical funds posted a positive return in the past year, research by Investment Life and Pensions Moneyfacts discovered.
Looking back over three years presents an equally gloomy picture, with ethical funds dropping in value by an average ...
Ethical funds struggle in recession
by David Masters
July 22, 2009
In a further reshaping of the UK mortgage market, the maximum length of a fixed-rate deal is down to 15 years, following Manchester Building Society's withdrawal its 30-year fix.
Prior to the credit crisis, the Government was proposing to help lenders offer more affordable long-term fixed-rate products, which at the time were common in the US, Germany and Denmark.
Lenders were sceptical and pointed out that ...
Long-term fixed-rates disappear
by Gill Montia
July 17, 2009
Mortgage experts have been urging homeowners to opt for fixed-rate mortgages for weeks, to hedge against an inevitable rise in the base rate.
However, new research from Moneyfacts shows that lenders are launching and withdrawing fixed-rate deals with almost indecent speed.
Last month the average time scale for borrowers to secure a fixed-rate mortgage fell to just 14 days.
The financial website ...
Average fixed-rate deal available for only 14 days
by Gill Montia
June 17, 2009
Financial website, Moneyfacts, has named the UK's top mortgage providers in its 2009 awards, which were presented in London last week at a ceremony that recognises the best products and services in the personal finance world.
HSBC swept the board, named winner in the Best Remortgage Provider; Best First Time Buyer Mortgage Provider and Best Bank Mortgage Provider categories.
Its subsidiary, first direct, ...
HSBC shines in Moneyfacts mortgage awards
by Gill Montia
April 7, 2009
The anxiously awaited recovery of the UK housing market is still blighted by mortgage lenders' demands for high deposits.
Latest figures from financial website, Moneyfacts, show the number of home loans on offer increasing to 1,485, up from 1,398 in March.
However, over two-thirds of the deals on the market require a deposit of at least 25%.
The proportion is ...
Mortgage lenders remain cautious over loan-to-value ratios
by Gill Montia
November 14, 2008
New research from Moneyfacts illustrates the extent to which fixed-rate home loans have resisted recent cuts in the Bank of England's base rate.
The financial website has found that interest on the average two-year fixed-rate mortgage currently stands at 6.13% and according to the firm's analyst, Michelle Slade, has remained almost constant during the past few months.
However, lenders' costs of funding the loans ...
Lenders resist lowering fixed-rates
by Gill Montia
November 5, 2008
The Bank of England is under severe pressure to cut interest rates this week after figures revealed that the service sector shrank in October.
The service sector, which makes for almost three quarters of output, fell for the sixth consecutive month and was at its lowest level since 1996, according to an index compiled by the Chartered Institute of Purchase ...
BoE under severe pressure for interest rate cut
by Kay Murchie
November 4, 2008
Last month, in a co-ordinated move with other banks, the Bank of England’s Monetary Policy Committee (MPC) slashed UK interest rates from 5% to 4.5%.
Central banks in the US, Japan and China have all cut interest rates in the last week in a bid to fight off a recession.
Many analysts believe that the Bank of England and ...
MPs urges banks to pass on interest rate cuts
by Kay Murchie
