15/03/2010
State funded banks charging higher than average mortgage rates
Last week saw the one year anniversary of the Bank of England dropping its base rate to the historic low level of 0.50%.
03/03/2010
Bank of England holds interest rates at 0.5%
The Bank of England has kept interest rates at a record low of 0.5% for the 12th consecutive month.
24/02/2010
No excuse to languish on a low ISA rate
The ISA season is now in full swing and there is growing competition amongst providers to secure that top Cash ISA rate.
Customers who have made full use of their allowances since the ISA’s inception and also invested in a TESSA will have amassed a savings pot of £43,200 plus interest.
16/02/2010
Savers can only watch as CPI enters a deeper vortex
The consumer price index again rose even sharper to 3.50%, nearly double the Government’s target of 2%.
Savings rates are still falling after a flurry of lenders cut a selection of mortgage deals. The average no notice rate fell by 0.02% to 0.73% since last month.
15/02/2010
Credit card rates at 12 year high
Increased competition in the credit card market at the end of the 1990s meant rates started to fall, dropping to their lowest level in 2006.
10/02/2010
Not all fixed rate mortgages are decreasing
Latest Moneyfacts.co.uk figures show that while fixed mortgage rates are falling, they are only doing so for those with significant equity.
09/02/2010
Pension income falls by more than 70% in just a decade
Personal pension savers are facing an uphill battle in their quest to fund a comfortable retirement, according to the latest survey by Investment Life & Pensions Moneyfacts.
04/02/2010
The Bank of England holds interest rates at 0.5%
The Bank has kept interest rates on hold at a record low 0.5% for the 11th consecutive month.
01/02/2010
Loan rates at nine year high
Risk continues to be the focus in all lending activity, but with no guarantees on the debt being repaid, unsecured personal loans have seen some of the sharpest increases.
29/01/2010
Mortgage brokers back in from the cold
Prior to the banking crisis, mortgage deals offered through brokers were not that different and in some instances more competitive than those offered through branches.
After the banking crisis took hold, lenders opted to concentrate on branch business in a move directly to control the volumes of new mortgage approvals.
29/01/2010
House prices make a strong start to 2010
- House prices rose by 1.2% in January and are up 8.6% year-on-year
- Recent economic data has been a mixed bag for the housing market
- Inflation uncertainties highlight interest rate risk
Headlines |
January 2010 |
December 2009 |
Monthly index * Q1 '93 = 100 |
330.5 |
326.4 |
Monthly change* |
1.2% |
0.5% |
Annual change |
8.6% |
5.9% |
Average price |
£163,481 |
£162,103 |
* seasonally adjusted
25/01/2010
ISA season kicks off early
Traditionally ISA season starts to gather pace in mid February, but this year things appear to have started early.
25/01/2010
Standard Variable Rate Mortgage – winners and losers
The Base rate has been at an all time low of 0.50% for the last ten months and with no incentive to move on to a new mortgage deal, increasing numbers of borrowers have moved onto their lenders’ standard variable rate (SVR).
20/01/2010
Moneyfacts calls for more transparency and control of credit and store cards
Moneyfacts.co.uk has delivered its response to the Department for Business, Innovation and Skills’ consultation paper on ‘A better deal for consumers’ on credit and store cards.
19/01/2010
Building societies triumph once again in consistency survey
Building societies have once again dominated the first Moneyfacts consistency survey of 2010, with 72.5% of all accounts listed as performing consistently.
Key points of the January 2010 Moneyfacts.co.uk Consistency Survey:
- 72.5% of the most consistent savings accounts are offered by building societies.
- National Counties Building Societies has the most consistent products, with five products in the tables.
- Bath Building Society, Leeds Building Society, Teachers Building Society and Yorkshire Building Society follow closely, with four products each in the tables.
- The best performing bank is Halifax with four consistent products.
For full details, please see appendix.
19/01/2010
A headache for savers as CPI begins to spiral
The consumer price index again rose sharply to 2.9%, spiralling above the Government’s target of 2% for the first time since May.
Savings rates look to have hit rock bottom, with the average no notice rate hovering at 0.75%, not far above bank base rate.
06/01/2010
Standard Variable Rate increases gather pace
Since April 2009 the Bank of England has kept base rate on hold at 0.50%, but since that time eight mortgage providers have increased their standard variable rate (SVR).
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