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28 May 2024
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Mortgage margins at all time high

The margin between mortgage rates and the cost of funding to lenders through the swap rate market today stands at an all time high.

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Bank base rate increase the only trigger to beat inflation

Inflation figures released today show that the Consumer Price Index (CPI) has fallen to 3.10%, a marginal fall of 0.10% from the previous month but still way above the Government’s 2% target.

Hopes of any longer term reductions may be stunted when we see the implementation of the VAT increase early next year and speculation that that petrol prices are soon to spiral.

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First Time Buyers are seizing the moment

The First Time Buyer mortgage market has seen an increase in activity of late. Latest figures released by the Council of Mortgage Lenders have shown a 20% rise in approvals for first time buyer mortgages in June.

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Graduate Finance

As another academic year closes, many graduates are leaving university to enter very challenging times. Unemployment remains high and could increase further once public sector cuts are fully realised, leaving limited job opportunities for graduates.

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Student Finance

In the next month, many students will be preparing to leave home and head off to university.

For many it will be the first time they are fully in charge of their finances, with budgeting and bill paying becoming a necessary evil.

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Are increased margins here to stay?

Fixed mortgage rates continue to fall as lenders try to tempt borrowers off record low variable deals.

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Inflation falls slightly but so do savings rates

Inflation figures released today show that the Consumer Price Index (CPI) has fallen marginally to 3.20%, still way above the Government’s 2% target.

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Savers pay the price for mortgage cuts

Savers taking out a fixed rate bond today will receive up to 23.3% less interest than they would have nine months ago.

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Moneyfacts welcomes ISA reforms

The Office OF Fair Trading has today announced changes to the cash ISA market, which it has said will improve fairness and transparency for customers.

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Mortgage rates at 7-year low

The average rate on two year fixed rate mortgages has fallen to 4.52%, its lowest level since September 2003, when the average stood at 4.51%.

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Moneyfacts.co.uk comments on possible Mortgage LTV caps

Ahead of George Osborne’s Mansion House speech tonight, there is speculation that the Bank of England will be handed powers to restrict the maximum loan to value available to home buyers.

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Short respite but inflation rises will punish savers further

Inflation figures released today show that the Consumer Price Index (CPI) has fallen marginally to 3.40%, still way above the Government’s 2% target.

But a possible VAT increase in next week’s emergency Budget could stunt any longer term reductions.

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Moneyfacts announces 2010 award winners

The winners of the 2010 Moneyfacts awards were announced this afternoon at the Millennium Hotel, Mayfair, London. Some 300 industry professionals from leading financial institutions gathered at a special luncheon hosted by ITV News’ Economics Editor, Daisy McAndrew

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Does it pay to be green?

The BP oil spill in the Gulf of Mexico has already been hailed the worst environmental disaster in US history, once again bringing green issues to the forefront of people’s minds.

Ethically minded customers like to incorporate their principles into their financial decisions, but opting for green deals could leave them out of pocket.

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Credit card market back open for business

The credit card market has seen a resurgence in recent months as card providers once again put the ‘open for business’ sign in the window.

In the last year the number of cards charging no interest on new purchases for at least 10 months has increased by 450%.

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Don’t be caught out by overseas charges

In the next few months many people will be planning to take their summer holiday, with many heading to South Africa for the World Cup.

While arranging your spending money may be not be the highlight of any holiday, a small amount of time and effort could see you making significant cost savings.

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Tumbling mortgage rates are still no incentive to borrowers

Mortgage rates are being cut, lending criteria is steadily being loosened and product availability is improving. It appears to be a perfect platform to host a resurgence in a struggling mortgage market, but it looks as if there is still little incentive for borrowers to commit to a new deal.

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Buy-to-let begins the fight back

The buy-to-let (BTL) sector was one of the biggest casualties of the credit crisis. At its lowest point (September 2009) 95% of all deals available at the peak of the market (August 2007) were withdrawn.

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Jump in inflation continues to punish savers

Inflation figures released today show that the Consumer Price Index (CPI) has increased again to 3.70%.

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Average stakeholder CTF £1 higher than cash alternative

The latest survey by Investment Life & Pensions Moneyfacts has revealed how the value of the average stakeholder Child Trust Fund (CTF) has edged back past those of cash CTFs over the five years since the scheme was launched.

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Average overdraft rate at decade high

Despite bank base rate being at an all time low, authorised overdraft rates have hit their highest level in a decade.

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Mortgage Lenders are keeping their mortgage products in the window for much longer  

The average shelf life of a current mortgage deal now stands at 30 working days, the longest since August 2007, when the market was heavily subscribed with 9,549 products.

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Mortgage rates at lowest level in a year

When bank base rate dropped to 0.50% last year the mortgage market entered unchartered waters. Initial reductions in mortgage rates were soon wiped out as lenders took an increasing margin for risk.

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Critical illness payouts continuing to rise

More critical illness claims were paid out than ever before in 2009, as the problem of non-disclosure continued to be eradicated from the protection industry, a new survey from Investment Life & Pensions Moneyfacts has revealed.

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Jump in inflation punishes savers

Inflation figures released today show that the Consumer Price Index (CPI) has increased by more than expected to 3.40%.

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The beginning of the end of free banking

Speculation is rife that in tomorrow’s Budget, the Chancellor, Alistair Darling will announce that all UK citizens must be offered a basic bank account from UK banks if they want one.

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Inflation continues to take its toll on savers

Inflation figures released today show that the Consumer Price Index (CPI) has fallen to 3%, a level still well above the Government’s target of 2%.

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Risk hits the balance transfer market

Virgin Money’s decision to reduce its 0% balance transfer period from 16 to 14 months has highlighted another tactic by credit card providers who, over the course of the credit crunch, have adopted a risk based approach to lending.

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Jump in mortgage product availability

When the financial crisis hit, the mortgage market haemorrhaged products hitting a low of 1,209 on 1 April 2009.

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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%.

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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.


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.

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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.

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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.

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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.

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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.

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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.


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.

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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.

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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


January 2010

December 2009

Monthly index * Q1 '93 = 100



Monthly change*



Annual change



Average price



* seasonally adjusted

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ISA season kicks off early

Traditionally ISA season starts to gather pace in mid February, but this year things appear to have started early.

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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).

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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.

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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.

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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.

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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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Think carefully before securing other debts against your home, your home may be repossessed if you do not keep up repayments on your mortgage.

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