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Monday 09th of August 2010
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News Tag: Moneynet.co.uk

July 8, 2010

Halifax Clarity transparent but expensive

by David Masters
Halifax Clarity is transparent but expensive
Financial pundits have praised Halifax's new Clarity credit card for its simplicity, but warned it may not be the best deal for customers looking to borrow money long term. Moneynet.co.uk welcomed the Clarity's easy to understand fees, with no complex introductory offer and just one rate of interest for purchases, balance transfers and cash withdrawals. "It's a refreshing change to see the launch ...



June 28, 2010

Moneynet issues warning on Lloyds TSB overdraft fees

by David Masters
Moneynet issues warning on Lloyds TSB overdraft fees
Lloyds TSB customers who frequently access their overdraft should seriously consider moving their current account to another bank, Moneynet.co.uk has claimed. The financial advice site made the remarks after Lloyds TSB announced a new monthly fee of £5 for customers who use their planned or unplanned overdraft. This fee is in addition to the monthly interest already charged, and will come ...



June 9, 2010

Balance transfers the cheapest way to pay off credit cards

by David Masters
Balance transfers the cheapest way to pay off credit cards
Transferring your credit card balance to a new card with a 0% rate on balance transfers is a much cheaper way to pay off debt, even when balance transfer fees are taken into account, a financial expert has claimed. Andrew Hagger of Moneynet.co.uk said the typical 3% one-off fee for balance transfers is significantly less than the interest ...



Balance transfers the cheapest way to pay off credit cards

by David Masters
Balance transfers the cheapest way to pay off credit cards
Transferring your credit card balance to a new card with a 0% rate on balance transfers is a much cheaper way to pay off debt, even when balance transfer fees are taken into account, a financial expert has claimed. Andrew Hagger of Moneynet.co.uk said the typical 3% one-off fee for balance transfers is significantly less than the interest ...



Savers struggle to find decent rates

by David Masters
Savers struggle to find decent rates
Savers are finding it increasingly difficult to get a good return on their money, and many are opting to pay off debt rather than keep their savings in a bank account, Moneynet.co.uk has claimed. Andrew Hagger, spokesperson for the price comparison site, said at least a dozen best-buy savings deals have disappeared from the market in the past week. Because of the low ...



March 9, 2010

Top ISA deal pays 3.5%

by David Masters
Top ISA deal pays 3.5%
Santander's ISA has been rated top in Moneynet.co.uk's best buy charts. The ISA, paying 3.5%, pipped Barclay's offering to the top spot. Both Barclays and Santander are paying high rates than the best one-year fixed-rate ISAs. "The Isa market is really taking shape as we approach the annual hot bed of activity as providers look to lure savers yet to make their move in the ...



January 21, 2010

ISAs worth a measly 73p in tax savings

by David Masters
ISAs worth a measly 73p in tax savings
Making the effort to put your savings into a tax-free account is worth a mere 73p per month, according to research by Moneynet.co.uk. The additional returns on a tax-free ISA compared to a standard savings account for a basic-rate tax payer are equivalent to just £8.72 per year on a £3,600 investment, the financial advice site found. This figure increases to ...



October 26, 2009

NS&I hopes to attract more savers as it raises rates

by Kay Murchie
”NS&I
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 ...



October 8, 2009

Moneynet slams government for ‘headline-grabbing’ with ISA increase

by David Masters
The increase in ISA allowances for the over-50s was simply a headline-grabbing attempt by the government that will have little effect on the finances of older savers, Moneynet.co.uk said this week. Since 6 October, over-50s have been allowed to save £5,100 per year in their Cash ISA rather than £3,600. Moneynet.co.uk calculated that the average benefit of the increase for basic rate tax payers will be just £4 in extra interest earned. "It ...



October 2, 2009

Recession encourages consumers to save

by David Masters
Recession encourages consumers to save
The recession has made people think before they spend, according to financial advice site Moneynet.co.uk. Andrew Hagger, Moneynet.co.uk spokesperson, said since the credit crunch consumers are being smarter with their money. He made the comment after the Office for National Statistics revealed the household savings ratio increased to 5.6% in the second quarter of this year, up from 3.9% in the first quarter. "People are ...



August 25, 2009

Rates soaring on personal loans

by David Masters
”Rates
Consumers taking out a personal loan are "paying through the nose" due to soaring interest rates. Banks are now charging an average APR of 10.32% on personal loans even though the Bank of England's base rate has been held at a record low of 0.5%. This compares to an average personal loan APR of 8.71% in 2004. "Despite the Bank of England slashing Base Rate ...



May 7, 2009

Moneynet reveals top three savings accounts

by David Masters
”Moneynet
Moneynet.co.uk has released its list of the top three savings accounts available to UK savers. The price comparison site said Barclays is best for regular savings, West Bromwich Building Society offers the top rate for fixed-rate accounts, and Barclays comes top for individual savings accounts. Barclays Monthly Saver pays a 'cracking' 6% AER fixed for one year. Deposits are limited to £250 per month, ...