News Tag: Moneyfacts.co.uk
March 16, 2010
New research from Moneyfacts.co.uk claims there has been a 70% rise in the number of mortgage products available in just under a year.
According to the financial website, borrowers now have 2,053 deals to choose from, compared with 1,209 in April 2009, when the figure bottomed out.
Furthermore, a significant boost has occurred since the beginning of January, with the number ...
Mortgage deals up 70% in under a year
by Gill Montia
January 27, 2010
The collapse of the remortage market as borrowers coming to the end of fixed-rate deals opt to remain on reversion rates, is prompting lenders to raise their standard variable rates (SRVs).
According to Moneyfacts.co.uk some borrowers on SVRs have benefited from the record low 0.5% base rate but others have not been so lucky.
The financial website's spokesperson, Michelle Slade, says: "Many ...
Many SVRs “disjointed” from base rate
by Gill Montia
December 11, 2009
Low interest rates throughout 2009 have helped some people put more money aside into savings, a financial expert has claimed.
Darren Cook, spokesperson for Moneyfacts.co.uk, said low interest rates have decreased mortgage payments for homeowners, increasing their disposable income, which can be used for savings.
"If you look at people that had existing mortgages before the start of the recession, their disposable ...
Low interest rates encourage saving, claims expert
by David Masters
November 23, 2009
Moneyfacts.co.uk has revealed that the average interest rate on a two-year fix has fallen below 5% for the first time since June.
Rates peaked at 5.21% in July but despite declining swap rates have only now come down to a typical 4.99% because banks and building societies, fearful of risk, have been upping their margins.
However, Moneyfacts spokeswoman, Michelle Slade, believes ...
Average two-year fixed rate falls below 5%
by Gill Montia
October 6, 2009
Evidence that the UK mortgage market is stabilising has emerged from Moneyfacts.co.uk, which has noted that lenders have been extending the shelf lives of their various offerings in recent weeks.
According to the financial website, the average mortgage product was available for 24 working days in September, up from 18 working days in August, and the longest period since October ...
Lenders extend shelf lives of mortgage offerings
by Gill Montia
September 22, 2009
Potential first-time buyers continue to be excluded from the best mortgage deals, with risk the overriding factor in setting rates.
According to Moneyfacts.co.uk, competition among lenders is still taking a back seat with rates on home loans dipping a mere 0.12% on average for those with a 10% deposit, despite the cost of funding to lenders dropping 4.35%.
By comparison, those with a ...
Lenders deny competition to first-time buyers
by Gill Montia
September 17, 2009
The UK mortgage market is showing signs of recovery with the number of products increasing slowly.
However, only borrowers with a minimum deposit of 25% are likely to feel any real benefit, according to Moneyfacts.co.uk.
Research from the financial website shows that since the beginning of April, the number of deals on the market has increased from 1,209 to 1,329.
While evidence of improvement, ...
Mortgage market stages gradual recovery
by Gill Montia
September 16, 2009
Homeowners are gradually being offered a larger choice of mortgage products, although lenders remain cagey about attracting too much business, MoneyFacts.co.uk claimed this week
The number of mortgage products available dropped to a record low of 1,209 at the beginning of April, down from a peak of 11,951 products that were available in July 2007.
Since April, more products have come to market, ...
Lenders reluctant to cut mortgage rates
by David Masters
September 10, 2009
Consumers have seen very little benefit from the Bank of England holding its base rate at a record low of 0.5% for six months, a consumer advice site pointed out this week.
Interest rates on savings accounts have dropped, while rates on mortgages, credit cards, and personal loans have continued to rise, said Moneyfacts.co.uk.
Research by the site found interest rates ...
Consumers see few benefits from low base rate
by David Masters
August 6, 2009
Nearly half the current accounts at UK banks are paying customers an interest rate of 0%.
Research by moneyfacts.co.uk found 49% of current accounts offer consumers no return on their money.
This is compared to fewer in one in five (19%) of current accounts that paid no interest 12 months ago.
More than four in five (83%) non-fee paying current accounts pay less than ...
Half of current accounts are interest-free
by David Masters
June 21, 2009
Latest figures from Moneyfacts.co.uk show a sharp rise in the cost of a two-year fixed-rate mortgage during the past week.
According to the financial website, the average cost of a two-year fixed-rate deal increased by 0.16% between Monday and Friday, to 4.90%.
Meanwhile, five-year fixes increased by an average 0.21% over the same period, to 5.82%.
Nationwide began the round of increases and has ...
No turning back for fixed rates
by Gill Montia
May 8, 2009
Loan interest rates have seen a 'staggering jump' over the past 24 months, according to Moneyfacts.co.uk.
The average interest rate charged on unsecured personal loans has increased by up to 44% in two years, Moneyfacts said.
According to the price comparison site, the average APR on a £5,000 has jumped from 8.6% in May 2007 to 12.4% today.
A person borrowing £5,000 ...
‘Staggering’ loan rates up 44% in two years
by David Masters
April 27, 2009
Moneyfacts.co.uk has revealed the top performing cash ISAs during 2008-09.
"Unsurprisingly it was fixed rate cash ISAs that yielded some of the top returns," said Michelle Slade, Moneyfacts.co.uk analyst.
Alliance and Leicester's (A&L) Premier ISA took first place, adding £327.37 to a £3,600 investment made on 6 April 2008.
However, to qualify for the Premier ISA, customers had to be a new or existing A&L ...
Moneyfacts reveals best performing ISAs
by David Masters
Interest rates on savings begin recovery
by David Masters
April 23, 2009
Pensioners have been the hardest hit by the interest rate on savings accounts entering 'freefall', Moneyfacts.co.uk said this week.
The price comparison site said an average interest rate of just 0.64% on no notice savings accounts has left pensioners - many of whom rely on savings for a regular income - out of pocket.
Darren Cook, senior analyst at Moneyfacts.co.uk, said: "Low ...
Elderly losing out from low interest rates
by David Masters
February 20, 2009
The resistance of mortgage lenders to pass on cuts in the base rate is illustrated by new research from Moneyfacts.co.uk.
The financial website found that Standard Variable Rates (SVRs) are down by an average one-third of the total amount shaved off the base rate in recent months.
The firm's analyst, Michelle Slade, points out that customers with new tracker rate loans ...
Lenders’ SVRs reflect one-third of base rate cuts
by Gill Montia
February 13, 2009
NatWest has launched two new ISAs paying interest at up to 3.51%.
Its online e-ISA, which accepts balance transfers from ISA savings in previous tax years, pays an AER of 3.25% on balances up to £9,999, and 3.51% on balances over £10,000.
The bank asserts that this top rate makes it the most competitive online-only ISA in the UK market - a claim confirmed by ...
NatWest launches 3.51% ISA
by David Masters
January 28, 2009
Buildings societies offer the most consistent interest rate on savings accounts, new research has revealed.
A study by Moneyfacts.co.uk found that 79% of the most consistent savings account interest rates are at building societies, rather than banks.
Since the Bank of England started cutting interest rates in December 2007 - and especially since the recent heavy rate cuts - savers have seen ...
Building societies best for consistent interest rates
by David Masters
January 6, 2009
Financial data provider, Moneyfacts.co.uk, has published new figures showing that 25% of mortgages available in the UK to new borrowers require a deposit of at least 40%.
Those who can only manage a deposit of 5% or less have a mere 21 home loans to choose from, compared with over 1,200 in February of last year.
Borrowers who can put ...
Shift to larger deposits hampers housing market recovery
by Gill Montia
August 11, 2008
Figures from Moneyfacts.co.uk have revealed that there are now 71% fewer mortgages available compared with this time last year.
There are now 3,748 mortgage deals available compared with 13,027 mortgage products last August, according to Moneyfacts, showing what an impact the credit crunch has had on the housing market.
Furthermore, the number of loans has lessened, with an average maximum of ...
71% fewer mortgages compared with one year ago
by Kay Murchie
