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Cost of living still a burden to savers
Inflation figures released today show the Consumer Prices Index (CPI) fell during September, from 2.5% to 2.2%.
PruProtect Income Protection Cover NHS Doctors
PruProtect have enhanced their Income Protection Cover to include a deferred period option specifically for NHS Doctors (available from 29 September). To find out more about their latest enhancement and how it can benefit you please read our section below.
Go Direct Now Offer LV Budget Income Protection
We are pleased to announce that we now provide quotes for LV's budget income protection insurance via our instant income protection quote system.
What happens when a bond ends?
In these days of low returns, fixed rate bonds have for many become the savings vehicle of choice but what happens when the term comes to an end? Confusingly, there are three correct answers to this question.
Savings hit hard by inflation
Inflation figures released today show the Consumer Prices Index (CPI) fell during August, from 2.6% to 2.5%.
To beat inflation, a basic rate taxpayer at 20% needs to find a savings account paying 3.12% per annum, while a higher rate taxpayer at 40% needs to find an account paying at least 4.20%.
Return of the high LTV Mortgages
There has been an increase in activity from lenders launching mortgage deals at higher loan-to-values (LTVs), providing some much-needed relief for first-time buyers (FTBs) searching for competitive rates for smaller deposits.
Sainsbury’s Bank Unsecured Personal Loans APR Reduced
Sainsbury's Bank has reduced the cost of borrowing on its £7,500 to £15,000 tier unsecured personal loan for 1 to 3 years to 5.7% APR and for 4 to 5 years to 5.8% APR.
Yorkshire BS Launch a new two-year fixed rate mortgage
Yorkshire Building Society has just reduced its two-year fixed rate mortgage to 2.84%, making it the lowest rate in its sector. This 75% loan-to-value mortgage has a £995 arrangement fee and offers no incentives other than rate.
Friends Life Child Cover
Friends Life Critical Illness Cover includes childcover which can offer you financial reassurance if their little ones are diagnosed with a defined serious illness1.
Mortgage fees rocket
Research from Moneyfacts reveals that average mortgage fees have reached a new high. A year before BoE base rate fell to 0.5% the average fee was just £889. Four years later, the average fee has risen by a horrendous 70.30% to its current level of £1,514.
Nearly half of all marriages will end in divorce
A startling statistic but perhaps not a huge surprise. The UK has witnessed a rise in single person households and single parent families as the views towards marriage and divorce have changed.
Numbing effect of savings interest
It is hardly surprising that we have all become numb to the plight of interest on savings accounts. Everyone knows how miserably low they are.
Friends Life Critical Illness Cover Revised
Friends life revised critical illness cover includes ten partial payments* covering less serious conditions that may still have a massive impact on your lives.
Savings delayed due to unexpected rail increases
This month’s announcement of RPI triggered an increase in rail fares, predicted to be around 6.2% higher at the start of next year.
LV Improves its Critical Illness Cover for Breast Cancer
LV now cover for early forms of breast cancer - covering both women and men
Legal & General's Critical Illness Cover Improved
Legal & General's Critical Illness Cover now covers 40 conditions and also includes the following new and improved benefits:
Credit crunch - Five years on
We are now five years into the credit crunch and the following table shows how it has affected our personal finances.
Packaged Bank Account Confusion
Packaged accounts have been in the news of late.
FTB Mortgage Market Ignored
Moneyfacts research of the residential mortgage market reveals 398 changes to mortgage product rates during the month of July, equivalent to almost 13 per day.
Countless students will be preparing to leave home next month 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.
Don’t let card charges ruin your holiday
After weeks of rain many people will be looking forward to their summer holiday and travel to warmer climes.
The savings underclass
Inflation figures released today show the Consumer Prices Index (CPI) fell during June, from 2.8% to 2.4%.
To beat inflation, a basic rate taxpayer at 20% needs to find a savings account paying 3.00% per annum, while a higher rate taxpayer at 40% needs to find an account paying at least 4.00%.
Prepaid Cards – The Pitfalls
Prepaid cards are a useful cash management tool which is growing in popularity.
However, it would be easy to pick the wrong card if you have not first been honest about your spending habits.
Sprint needed for best deals
The length of time a fixed rate bond is on the market for has fallen to just 30 days, the lowest level since December 2008 (28 days).
Buy-to-let deals fall by 82% in five years
Research by Business Moneyfacts has revealed that the number of buy-to-let products has fallen by 82% in the last five years.
Where have all the freebies gone ?
Research from Moneyfacts has revealed the gradual disappearance of free valuations and free legal fees from the remortgage market.
Business charge cards, what’s on offer ?
In a difficult economic climate, it’s never been as important for businesses to keep a handle on expenses.
Savers’ hardship continues unabated
Inflation figures released today show the Consumer Prices Index (CPI) fell during May, from 3.00% to 2.8%.
Gender Pricing for Life Insurance set to come to an end
Gender pricing is a hot topic in 2012. Read an overview from Ageas Protect on what it means to you.
Average one year bond rate falls
The average rate for a one year bond has dropped to 2.63%, its lowest point since March 2011. The availability of these accounts has continued to rise, however, from 101 last month to 139 today.
Moneyfacts announces 2012 award winners
The winners of the 2012 Moneyfacts Awards were announced this afternoon at the London Marriott Hotel, Grosvenor Square, London. Hundreds of industry professionals from leading financial institutions gathered at a special luncheon hosted by television presenter Mark Durden-Smith.
Savers count inflation cost
Inflation figures released today show the Consumer Prices Index (CPI) fell during April, from 3.5% to 3.00%.
Average 90% Mortgage LTV rates tumble
The average rate of a 90% loan-to-value mortgage has fallen steadily over the past five years to just 5.44%. The number of 90% deals has, in turn, increased from just 76 in May 2009 to 299 today.
The great ISA split
There was a time when you didn’t have to struggle with the concept of cash ISAs. They are tax-free and all you need to look for is the best rate. However, new parameters are being quietly set which mean that in future we will all need to delve deeper than just rate alone.
Notice rates climb to three year high
The average rate of a notice savings account currently stands at 1.57%, its highest level since early 2009.
Rates plummet for long-term fixed mortgages
The average rate of a five year fixed mortgage has decreased over the past year, from 5.59% to 4.86% today.
A spring chill for savers
Inflation figures released today show the Consumer Prices Index (CPI) rose during March, from 3.4% to 3.5%.
95% LTV mortgage availability doubles in a year
The number of mortgage products offering maximum loan-to-values of 95% has more than doubled over the past year, from just 27 to 61 today.
Interest-only mortgage house arrest
There has been a sudden surge in lenders reducing the LTVs on interest-only mortgages to just 50%, placing them firmly out of the reach of the majority of borrowers.
Should borrowers rejoice?
The Bank of England base rate has remained at an all-time low of 0.50% for three years, the longest hold for 60 years.
Moneyfacts research shows that as the current economic climate took hold three years ago the average deposit needed for a mortgage rose to 40%. Currently it hovers around the 25% mark, thanks to an increase in higher loan-to-value deals.
Short-term savers suffer
The Bank of England base rate has remained at an-all time low of 0.50% for three years, the longest hold for 60 years.
Savers have continued to suffer over the last three years with base rate so low, and inflation still above the Government’s 2% target.
No jumps of joy for savers
Inflation figures released today show the Consumer Prices Index (CPI) fell during February, from 3.6% to 3.4%.
ISA season heats up, but beware of the bonuses
The 2012-13 ISA season is gathering pace, with providers showcasing their latest tax-free offerings.
Desirable card benefits, far and few between
Worldwide travel insurance is often considered a desirable credit card benefit; however, Moneyfacts research has shown that it’s offered on just 6 credit cards out of approximately 220 in the market.
Moneyfacts Awards finalists announced
The Moneyfacts Awards are to be presented at a lunchtime ceremony on 25 May 2012 at the London Marriot Hotel, Grosvenor Square. One of the highlights of the personal finance industry calendar, this event continues to celebrate the best products and service in the personal finance world and will hopefully provide a welcome boost to those who have excelled in their sectors.
Flexible drawdown choice widens
Less than a year after its introduction, flexible drawdown is available on around three quarters of SIPP plans, research by Investment Life & Pensions Moneyfacts has revealed.
Buy-to-let mortgage market blooms
Moneyfacts research has shown that the availability of buy-to-let mortgages has risen over recent months. There are currently 486 buy-to-let mortgage deals available, compared to 386 last February.
The battle of the switcher
Moneyfacts research has shown that there has been an increasing amount of switcher incentives introduced in the last few weeks.
Five year bond rates hit 6 month high
The average rate for five year fixed rate bonds has hit its highest level since July 2011.
Annuity income falls for fourth consecutive year
Research from Investment Life and Pensions Moneyfacts has shown that 2011 was another poor year for annuity rates, with annuity income falling for a fourth consecutive year.
Loan rate drops to lowest level
Rachel Springall, spokesperson for Moneyfacts.co.uk, commented: “Research by Moneyfacts has shown that 6.0% APR on a £10,000 borrowing amount over a five year term is the lowest loan rate on offer in four years. Previously the lowest rates for this borrowing amount and term were: 8.4% one year ago, 7.8% two years ago, 6.8% three years ago and 5.8% four years ago.
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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We normally do not charge a fee for mortgage advice, however this is dependent on your circumstances. Our typical fee would be £500