News Tag: rates
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
January 23, 2010
Both Northern Rock and the Post Office have launched new mortgage deals with lower rates.
The Post Office has cut the cost of its Bank of Ireland lifetime tracker loans from 3.29% to 2.99%, or from 3.59% to 3.49%, dependent upon the loan-to-value ratio.
Bank of Ireland has also reduced the price of its five-year fixed-rate offering by 0.5% ...
Mortgage rate cuts from Post Office and Northern Rock
by Gill Montia
January 20, 2010
Nationwide Building Society has increased the rates on a number of its Fixed Rate Bonds and e-Bonds.
These include: Three year Fixed Rate Bond and e-Bond paying up to 4.70% gross p.a./AER for balances over £25,000.
Two year Fixed Rate Bond and e-Bond paying up to 4.10% gross p.a./AER for balances over £25,000.
18 month Fixed Rate Bond and e-Bond paying up to 3.50% ...
Nationwide increases rates on fixed-rate bonds
by Kay Murchie
January 19, 2010
The UK credit card industry has agreed to Government proposals to help credit card holders manage their debt.
As part of a crackdown on credit card companies, the Government recently warned credit and store card firms to “clean up their act.”
One of the main issues was for credit card companies to stop increasing interest rates when a customer fell behind ...
Credit card industry responds to Government proposals
by Kay Murchie
January 13, 2010
Despite the fact that interest rates have been on hold at the historically low rate of 0.5% since March 2009, the average credit card interest rate rose from 15.89% to 16.28% in December, according to figures from the Bank of England.
The bank also revealed that the average credit card interest rate is now at its highest since September 2006.
The ...
Consumers hit as credit card rates soar
by Kay Murchie
November 10, 2009
Abbey and Alliance & Leicester are offering preferential mortgage rates to some existing customers.
The lenders, both part of the Santander group, are enticing current account holders who have been with the banks for six months or more with new deals available in branch or on the telephone.
The range includes fee-free tracker and fixed-rate home loans, plus an offset mortgage, ...
Special mortgage rates for Abbey current account holders
by Gill Montia
October 26, 2009
Government-backed National Savings & Investments (NS&I), which runs Premium Bonds and a variety of savings products, has unveiled a rise in the interest rates on some of its policies.
The news will be welcomed by savers who have been suffering amid the historically low interest rate environment.
NS&I said rates on its guaranteed growth bonds and guaranteed income ...
NS&I hopes to attract more savers as it raises rates
by Kay Murchie
September 17, 2009
Woolwich has announced its second round of mortgage rate cuts this month.
From today, the lender is introducing a one-year tracker mortgage at 1.98% for a 60% loan-to-value (LTV) deal, which comes with a £999 fee.
The Barclays-owned firm is also cutting rates on its two-year 70% LTV fixed-rate deals with a £999 fee, to 3.99%; or 4.09% with a reduced fee of ...
Woolwich launches one-year tracker at 1.98%
by Gill Montia
August 4, 2009
Nationwide has cut rates by up to 0.5% on some of its fixed-rate and tracker mortgages, from today.
Reductions have been applied to its two-year and three-year fixed-rate loans and two-year tracker deal, both for new customers and remortgagers.
However, also from 4th August the building society will be retaining £99 of its existing reservation fees, having introduced a non refundable booking fee ...
Nationwide cuts rates by 0.5%
by Gill Montia
July 8, 2009
Nationwide Building Society yesterday increased the interest it pays on fixed-rate bonds and e-Bonds, with a headline interest rate of 5%.
The fixed-rate bonds are available to anyone, while the e-Bonds are available online to any Nationwide customer with a Nationwide FlexAccount.
Both accounts are available for one year, 18 months, two years, three years or five years.
The interest rate ...
Nationwide “throws down the gauntlet” with new bond rates
by David Masters
June 29, 2009
The tracker versus fixed-rate dilemma that currently faces homeowners has been investigated by moneysupermarket.com, with the odds laid out as follows:
Mortgage borrowers on tracker rates saw their monthly repayments fall substantially, as the base rate plummeted to 0.5%.
However, further falls in the base rate are unlikely whereas a rise is inevitable, probably by the end of the year.
This prospect makes the idea of a ...
Tracker/fixed-rate dilemma unravelled
by Gill Montia
May 5, 2009
Woolwich is cutting rates across its range of mortgages, by up to 0.7%.
A two-year fix at 80% loan-to-value (LTV) ratio is available at 4.99%, representing a reduction of 0.4%, while a three year fixed-rate deal at 70% LTV comes 0.5% cheaper at 3.99%.
In addition, the Barclays-owned lender's offset tracker mortgage is down 0.5% to Bank of England base rate ...
Woolwich lowers rates by up to 0.7%
by Gill Montia
March 17, 2009
Nationwide Building Society is increasing rates on some of its mortgage deals by up to 0.3%.
From 18th March, remortgagers with a 40% deposit will pay interest at 3.93% for a two-year tracker, up from 3.63% previously.
Homeowners with only 25% of equity in their properties will be charged at 5.08% for a similar deal, while existing Nationwide customers who need to borrow ...
Nationwide increases tracker rates
by Gill Montia
February 18, 2009
Woolwich has reduced rates on several of its "fix and track" loans for remortgagers.
The lender, which forms part of the Barclays group, has cut the rate on its two-year fix and track by 0.5%, to 3.89% while the rate on a three-year fix and track is down by 0.7%, to 3.99%.
Both types of loan revert to a tracker rate of 1.49% ...
Woolwich cuts “fix and track” rates
by Gill Montia
January 20, 2009
The UK's third-largest mortgage lender, Nationwide, is cutting the cost on its fixed-rate home loans by up to 1%.
The building society will be reducing rates on its two, three and five year fixed-rate deals from 21st January.
A two-year fix will be available at 4.39% (down from 4.88%) for up to 60% loan-to-value (LTV) and a £995 fee.
For the same deal with no fee ...
Nationwide cuts fixed rates
by Gill Montia
January 13, 2009
Latest figures from the Bank of England show that rates on new tracker and standard variable rate loans have fallen in recent weeks, however those with less than a 25% deposit remain locked out of the best deals.
Tracker loans are linked to the base rate and at the end of December, the cost of the average two-year tracker ...
Tracker and SVR mortgage rates fall to five-year low
by Gill Montia
December 21, 2008
Abbey has cut the cost of its fixed-rate mortgages for the second time in a fortnight.
From 19th December, the lender's two, three and five-year fixed-rate deals include:
A two-year fix at 4.64% with a maximum 75% loan-to-value (LTV) ratio. Up to £150,000 can be borrowed and a £549 fee applies.
A three-year fix at 4.64% and 60% LTV with a £995 fee, or at ...
Abbey cuts fixed rates again
by Gill Montia
December 9, 2008
Lloyds TSB and its mortgage lending arm, Cheltenham & Gloucester (C&G), have launched a range of new tracker deals, with rates starting at 3.69%.
Two-year loans with a maximum 60% loan-to-value (LTV) ratio are available in the lender's All Weather range as follows: 4.09% (base rate +2.09) £1995 fee applies; 4.19% (base rate +2.19) and a £995 fee.
There is also a full-term ...
Lloyds TSB launches new tracker range
by Gill Montia
November 4, 2008
Abbey has announced that it is increasing rates on its two and three-year tracker mortgages for new borrowers, by up to 0.5%.
The news comes as analysts are predicting that the Bank of England's Monetary Policy Committee will cut the base rate by least 0.5%, and possibly 1%, later this week.
Tracker rates provide a fixed margin above the base ...
Abbey raises tracker margins by up to 0.5%
by Gill Montia
October 31, 2008
Abbey is cutting the cost of its fixed-rate deals with maximum loan-to-value (LTV) ratios of 60% and 75%, by up to 0.35%.
The bank has also upped the maximum loan size on its two-year tracker and fixed-rate loans with a maximum 60% LTV, to £550,000.
From 30th October, two and three-year loans at 60% LTV start at 5.49% plus a £499 fee, ...
Abbey cuts a range of fixed-rates
by Gill Montia
