Leeds Building Society has launched a new instant access account paying interest at 2.55%. The headline rate includes a 0.5% bonus until August 2011. The account, known as the London Instant Access Account, is only available through the building society’s London branch. Savers can open the account with a minimum investment of £100, and are [...]
Coventry Building Society has launched a two year base rate tracker bond. Savers are guaranteed a minimum rate of 3.2% until September 2012. There is no maximum cap on interest rates The bond can be opened with any amount between £1 and £250,000. Withdrawals are subject to a penalty of 90 days interest. Customers wanting [...]
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 [...]
Sainsbury’s Finance has boosted the interest rate on its Easy Saver account for new customers. Interest on accounts opened after 25th June 2010 will be paid at 2.7% Gross AER, an increase of 0.2 percentage points on the previous rate. The 2.7% rate will be paid to new customers for 12 months provided they maintain [...]
Leeds Building Society has launched a new online savings account offering unlimited access. The Albion Web Saver pays interest at up to 2.25%, and gives savers penalty free access to their money. To open the account, savers need to deposit at least £2,500. A spokesperson for the building society said the account was launched following [...]
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 [...]
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 [...]
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 AA has launched a new credit card with a 0% interest rate on retail spending for 10 months. The card, available exclusively through moneysupermarket.com, offers the 0% rate on all purchases including motoring and fuel. Consumers can also take advantage of a 0% rate on balance transfers for 12 months, subject to a 3% [...]
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. [...]
Government-backed National Savings & Investments (NS&I), which runs Premium Bonds and a variety of savings products, is to launch a new savings account in March with an “attractive” interest rate. The news will be welcomed by savers who have been suffering amid the historically low interest rate environment. The financial crisis led to many British [...]
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 [...]
Santander’s high street banks have launched a range of new fixed-rate bonds paying interest at up to 4.1%. The bonds, available through Abbey, Bradford & Bingley, and Alliance & Leicester, can be opened by new and existing customers with a minimum deposit of £1. The one year bond pays interest at 2.5% gross per annum/AER [...]
American Express (Amex) has launched a new credit card that rewards spending with shopping vouchers. The Amex Express Rewards Credit Card generates points for the card holder whenever they use the card to pay for goods or services. Accumulated points can be used to pay for items at a wide range of high-street and internet [...]
Nationwide Building Society has launched a new four-year Stepped Rate Bond paying a headline interest rate of 5.25%. Interest rates on the bond increase annually. In year one the bond pays 3.75% gross p.a./AER, 4.25% in year two , 4.75% in year three, and 5.25% in year four. Savers must invest a minimum of £5,000 [...]
Leeds Building Society has launched a new five-year fixed rate mortgage with an interest rate of 5.75%. The mortgage is available to homeowners with a deposit of at least 15%. Borrowers can make up to 10% capital repayments every year without penalty. Homeowners with a larger deposit can also take advantage of the mortgage, and [...]
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 [...]
US exports surge, Obama unveils jobs plan
The Commerce Department has revealed US exports hit an all-time high in July, while imports fell. According to official figures, exports surged 3.8% to $178 billion (£111 billion) after two months of declines. The rise in exports was attributed to strong overseas sales of manufactured goods, particularly to countries in Central and South America. Meanwhile, [...]
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