The Post Office has launched a new range of mortgages targeted at first time buyers. Consumers can take out the new mortgage products with a deposit of just 10%. The two-year, three-year, and five-year fixed rate mortgages have interest rates between 5.45% and 5.99%. A tracker mortgage is also available at 5.49%. Marco Hughes, director [...]
Apple has benefited from the continued popularity of iPhones and posted a net profit of $3.4 billion (£2.08 billion) in the three months to 26 December – a 50% rise compared with a year earlier. The California-based technology giant, which has bucked the trend in the economic downturn, impressed analysts after sales grew 32% in [...]
Leeds Building Society has launched two new fixed-rate ISAs paying interest at up to 3.5%. The new accounts include a three-year fixed-rate ISA, paying interest at 3.5%, and a two year product paying 3% interest. Both accounts can be opened with a minimum deposit of just £1, and both accept transfers from previous ISA subscriptions. [...]
Leeds Building Society unveiled two new mortgage products this week. The new products include a two-year base rate tracker (BRT) mortgage, and a two-year fixed-rate mortgage. The BRT mortgage is available to homeowners borrowing up to 75% of the value of their property, with interest charged at 2.7% above the Bank of England’s base rate. [...]
Bradford & Bingley (B&B) has launched a new online Notice Saver account paying interest at a variable rate of 3.3% gross/AER. New and existing B&B customers can open the account with a minimum balance of just £1. The account includes an instant access option for savers who need to withdraw their money. Account holders can [...]
The Nottingham has announced plans to provide pensions, investments, and insurance products in its 32 branches across the East Midlands. Branch-based financial advisers will advise customers on the best products to meet their needs. The building society said the new products are part of its plans to expand and evolve, and will help it to [...]
A new bond from Leeds Building Society paying 4% interest can be opened with as little as £100. The four-year fixed-rate bond was launched alongside a two-year bond paying 3.5% interest. Both bonds can be opened with a minimum investment of £100 and a maximum of £1,000,000. Furthermore, both allow savers to withdraw up to [...]
Legal & General (L&G) has expanded its range of life insurance products with three new guaranteed acceptance plans for the over-50s. Applications for the Fixed, Increasing, and Funeral policies are guaranteed to be accepted for policy holders aged between 50 and 80. The Fixed plan offers a fixed cash sum payable upon death in exchange [...]
Abbey Business this week launched two new bonds paying up to 3.2% interest and aimed at SMEs. The bonds, available to businesses with a turnover of up to £1 million, are available for business savings between £50,000 and £2 million. The 12 month Fixed Rate Business Bond pays 3.2% gross pa/AER, maturing on 1 September [...]
Government-backed National Savings & Investments (NS&I) said it has been hit by a return in confidence in banks. The financial crisis led to many British savers withdrawing their funds from banks and choosing safer havens, such as the NS&I. In the final quarter of 2008, which covered the height of the banking crisis, NS&I reported [...]
Internet bank Egg this week unveiled an instant access savings account and a fixed-rate bond. The Egg Bonus Savings Account pays 2.8% gross pa/AER, including a fixed-rate bonus of 1.55% for the first 12 months. The account can be opened with a minimum investment of £1, and offers the flexibility of unlimited penalty-free deposits and [...]
Cater Allen has launched a series of new fixed-rate bonds paying interest at up to 5.25%. The Santander-owned private bank said the bonds offer security of capital and a fixed, guaranteed return. Bonds offered by the bank include a three-year escalator bond, a two-year bond, a 12-month bond, and a nine-month bond. The three year [...]
Abbey has launched a new range of fixed-rate mortgage products which it claims are the best it has offered in a decade. The Santander-owned bank said interest rates on three of its new mortgages are the lowest in ten years. Available at a maximum 75% loan-to-value (LTV), the new products include a 3-year fix at [...]
Saga Personal Finance has announced plans to launch two new ISA products on 1 April, paying interest at up to 2.95% tax free/AER. The One Year Fixed Rate Cash ISA pays annual interest at 2.95% tax free/AER, whilst the Saga One Year Fixed Rate Monthly Interest ISA pays interest at 2.91% tax free or 2.95% [...]
Nationwide has unveiled two new five year fixed-rate bonds, paying interest at up to 4.15% gross p.a./AER. The building society yesterday launched both the Five Year Fixed Rate Bond and the Five Year e-Bond to new and existing customers. Andy McQueen, Nationwide’s savings and mortgages director, said: “I’m delighted to announce the launch of our [...]
Alliance & Leicester has launched two new guaranteed investment products. Both the Guaranteed Growth Plan (Issue 20) and the Guaranteed Capital Plus (Issue 7) come with a capital guarantee and a minimum return if held for the full term. The products are available until 18 March 2009, and have a minimum investment of £1,500. The [...]
LV= has launched a trio of new individual savings accounts (ISAs) – a Diversified Income ISA, a Balance Managed ISA, and a Stockmarket ISA. The three ISAs have been designed to appeal to the individual needs of a range of investors depending on the level of risk they are prepared to take. The Diversified Income [...]
Nationwide Building Society has launched a new range of fixed-rate bonds, e-bonds, and ISA bonds paying annual interest of up to 3.75%. Nationwide’s new four-year fixed-rate bond pays interest at up to 3.75%, whilst its two year bond pays 3.50%. Its three year e-bond pays up to 3.60%, its two year e-bond pays up to [...]
Nationwide-owned Cheshire and Derbyshire Building Societies have launched a new range of fixed-rate bonds. The bonds include a one and a two year deal, with interest for both accounts paid either on maturity at 3.75% Gross/AER (3.00% net), or monthly at 3.69% gross (3.75% AER/2.95% net). Minimum investment at Cheshire is £5,000; maximum £2,000,000. Derbyshire’s [...]
Nationwide has announced interest rate cuts on a number of its fixed-rate mortgages, and has launched a new range of tracker mortgages. From February 17, new fixed-rate mortgage customers at the building society will be able to sign up for deals 0.2% lower than current rates. The lower rates will also be available on remortgages [...]
M&S Money launches 3% cash ISA
M&S Money has launched an Advantage Cash ISA paying 3 per cent, and which allows transfers in from other ISAs. It can be opened with a minimum deposit of £100 lump sum followed by minimum monthly deposits of £25. The 3% rate is variable, but there is no short-term bonus so the return won’t plummet [...]
Google suspends UK Compare Mortgages site
Google has closed its UK mortgage comparison site which it launched in July last year, after it proved to be less popular than expected. Mortgage comparison sites are designed to allow visitors to compare mortgages quickly and easily without having to visit each lender’s individual site. Google was competing with several well-established comparison sites, including [...]
AA launches ‘black-box’ policy for young drivers
The AA is launching an innovative car insurance policy called Drivesafe which could help younger drivers save up to £850 a year. Younger drivers already pay substantially higher premiums than other motorists and these costs are increasing. A new study by Confused.com suggests insurance costs for younger driver have gone up by 5.7 per cent [...]
ATOL scheme updated to protect online bookers
ATOL, a financial protection scheme managed by the Civil Aviation Authority, is being extended to protect up to six million more holidays a year. The scheme ensures that holiday makers do not lose out financially if a travel company collapses, and that they are not stranded abroad. An increase in the number of holidays booked [...]
Home repossessions lowest for four years
The number of UK homes repossessed fell to 36,200 in 2011, significantly below the Council of Mortgage Lenders’ forecast of 40,000, and lower than 2010 when 37,100 homes were repossessed. With interest rates remaining low and lenders adopting a sympathetic attitude to customers in financial difficulty, repossessions fell to their lowest level since 2007. However, [...]
Monthly pay lasting just 17 days
Workers are running out of money just 17 days after receiving their monthly pay, according to new research by the Halifax bank. This means that the average UK worker spends half the month worrying about money. The study, based on the responses of more than 2,000 adults, found that 10 per cent of workers start [...]
Women disadvantaged by auto-enrolment changes
Government proposals to increase the auto-enrolment threshold to £10,000 could put 1.8 million women at risk of missing out on a pension, the TUC has warned. Under the auto-enrolment scheme, which will be phased in from October, private sector employers will automatically enrol workers between the age of 22 years and the state pension age, [...]
Emergency household repairs company Homeserve is taking longer than expected to get back on track after its operations were suspended last October. The company expected customer numbers to fall by 5% this year but it has increased this estimate to 8% and announced the loss of 200 jobs. It estimates that renewal revenue in 2013 [...]
Sale rumoured for Yorkshire and Clydesdale banks
There is growing speculation that National Australia Bank (NAB) may sell Yorkshire Bank and Clydesdale Bank after the Australian parent company announced a strategic review of the two banks’ operations. The Australian economy is performing well and NAB reported strong profits for the final quarter of 2011 but with the UK economy at a virtual [...]
More women experiencing debt difficulties
Women in Debt, which offers female-focused debt advice, has warned that the number of UK women facing serious debt has grown significantly over recent years. The organisation believes that more women will need advice on solving debt problems in the future because they are building up an unsustainable level of indebtedness. Women in Debt’s director, [...]
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