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News Archive - 03/2010
Deposit rates 'remain problematic for young people'
19-March 2010
Housing deposits remain a "major problem" for potential first-time buyers, even when cheap mortgage rates are available, according to the Council of Mortgage Lenders CML. Bernard Clarke, communications
Many consumers 'ignoring Isa accounts' 19-March 2010
Just 37 per cent of UK taxpayers subscribed to a cash Isa in 2008-09, a new report has indicated. According to Scottish Widows, consumers lost an estimated £15.5 billion in unnecessary tax payments
Share investors 'planning to use increased allowance' 18-March 2010
More than half of all cash investors plan to fully utilise their increased stocks and shares Isa allowance from next year, it has been reported. A study conducted by The Share Centre indicates that six
CML highlights effect of stamp duty holiday end on lending 18-March 2010
House purchase loans fell by more than three times the decline in remortgages in January, latest figures have indicated. Latest figures from the Council of Mortgage Lenders CML clearly highlight the
Scottish bank launches Isa products 17-March 2010
The Dunfermline has launched two new cash Isa products, as the deadline for using the 2009-10 tax-free allowance draws near. Consumers in Scotland can take advantage of a one-year account at a savings
Lloyds encouraging consumers to overpay on their mortgage 17-March 2010
Lloyds Banking Group has launched a new scheme allowing all homeowners to overpay on their mortgage by up to 20 per cent without incurring a penalty charge. The bank says it will run the scheme for one
New 3-year tracker and capped rate mortgages launched 17-March 2010
Britannia and The Co-operative Bank are to jointly launch a new three-year tracker and a five-year capped rate mortgage. The banks, which are making the deals available from Friday March 19th, have described
NS&I to launch new RPI-linked savings certificates 16-March 2010
National Savings and Investments NS&I is to release new issues of its Index-linked Savings Certificates. The new issues, sold in three and five-year terms, will be available to consumers from Wednesday
Property sales stall during March 16-March 2010
The UK property market is experiencing its slowest March in recorded history, Rightmove has claimed. Prices have reached a virtual standstill, the firm has reported, with new sellers asking for just £216
Women 'better than men' at managing finances 15-March 2010
Women tend to be more adept at budgeting than their male counterparts, it has been claimed. Jasmine Birtles, founder of Moneymagpie.com, said female professionals tend to be better at controlling income
Savers 'believe Isa allowance rules are unfair' 15-March 2010
The vast majority of UK savers believe current rules on individual savings accounts Isa are unfair and penalise those wishing to minimise investment risks, it has been reported. According to research
Many mortgagees 'in danger of defaulting if income falls' 15-March 2010
A drop of £300 in income would cause one in four people to default on their mortgage payments, it has been reported. Research conducted by Callcredit, which interviewed professionals in the 35-44
N&P introduces six-month e-bond at 3.05% 12-March 2010
Norwich & Peterborough N&P Building Society has announced the launch of a new Six Month E-Bond, plus an increase to the savings interest rate paid on its One Year E-Bond. The bonds, which offer
Guarantor mortgage products 'an interesting development' 12-March 2010
A new mortgage product range has been launched by The Mortgage Works – a subsidiary of Nationwide Building Society – which allows a guarantor to cover up to 30 per cent of the purchase loan. The
Santander slashes cost of fixed-rate mortgages 12-March 2010
Santander has reduced rates by up to 0.40 per cent across its four-year fixed-rate mortgages, increasing the options available to homeowners. The bank is now offering a four-year fix at 4.49 per cent with
Levels of remortgaging activity have increased, says John Charcol 11-March 2010
The remortgage market has returned to strength during the first two months of 2010, it has been reported. According to the John Charcol Index, purchases took only 47.3 per cent of mortgages sold by the
Savers 'remain happy with cash investments' 11-March 2010
Over half of all investors have their money stored as cash, according to the Fair Investment Company. The firm reports that 25 per cent of investors are happy with their savings interest rates and will
Mortgage competition 'leading to cheaper rates' 11-March 2010
Additional market competition has led to the emergence of cheaper mortgage rates, according to one lender. Andy Pratt, chief operating officer at Alexander Hall, said confidence is gradually returning
NS&I launches Direct Saver account 10-March 2010
National Savings and Investments NS&I has launched a new savings account offering customers an easy way of managing their cash reserves. The institution is making its Direct Saver account, which
Rics says housing supply is outstripping demand 10-March 2010
Housing market supply is once again outstripping demand, according to the Royal Institution of Chartered Surveyors Rics. The organisation says new instructions outpaced buyer interest for a second consecutive
Northern Rock launches new fixed-rate bonds 09-March 2010
Northern Rock has launched two new issues of its fixed-rate bond which offer guaranteed savings interest rates of at least 3.15 per cent. The state-owned bank offers the rate to one year bonds, or a higher
Savers 'penalising themselves' by not using Isas 09-March 2010
Savers who fail to use their Isa allowance are effectively giving money to the taxman, according to one financial commentator. David Kuo, director of the financial website Fool.co.uk, said consumers should
Higher loan-to-values 'becoming more accessible' 09-March 2010
The increasing tendency among lenders to offer higher loan-to-values is a positive sign for those seeking cheap mortgage rates, it has been claimed. Ben Wilkie, editor of What Mortgage, said the market
Iceland votes against savings repayment proposal 08-March 2010
The Icelandic population has voted overwhelmingly against repaying £3.3 billion worth of loans to the UK and Netherlands. In the country's first referendum as an independent nation, 93 per cent of
Base rate hold 'keeps tracker mortgage rates low' 08-March 2010
Homeowners on tracker deals should remain on cheap mortgage deals for at least another month after the Bank of England chose to freeze interest rates once again. The Bank's Monetary Policy Committee held
Isa savers 'must be aware of the Easter weekend' 05-March 2010
Savers wishing to capitalise on their 2009-10 Isa allowance cannot afford to leave it until the last minute this year, it has been claimed. Clydesdale and Yorkshire Banks have reminded consumers that the
NS&I reports drop in savings over the winter 05-March 2010
Consumer saving dropped to the lowest level for over two years during the winter, it has been reported. According to National Savings & Investments' NS&I Savings Survey, people are now putting
Lack of mortgage cost awareness 'a worry' 05-March 2010
It is worrying how many people are missing out on cheaper mortgage rates through ignorance over their current repayment costs, according to one expert. Ray Boulger, senior technical manager at mortgage
Mortgagees 'ignorant to the rate they are paying' 04-March 2010
At least three million UK borrowers do not know the rate of interest at which they are currently repaying their mortgage, it has been reported. Post Office Mortgages reports that 28 per cent are ignorant
Co-op launches new fixed-rate mortgage 04-March 2010
The Co-operative Financial Services has added a new two-year fixed-rate deal to its mortgage range. Available through both the Co-operative Bank and Britannia, interest rates of 3.19 per cent are accessible
MP urges British consumers to save more 04-March 2010
Consumers need to be encouraged to save more following the recession, according to one MP. Mark Hoban, shadow financial secretary to the Treasury, said the UK economy has become too heavily reliant upon
Increased Isa allowances 'set to be utilised' 03-March 2010
Levels of individual savings account Isa business are set to surge when the increase tax-free allowance comes into force for all consumers, it has been reported. From April 6th 2010, all savers will
Lender launches free mortgage competition 03-March 2010
Homeowners seeking cheap mortgages can go one better with Santander this month, as the lender is offering lucky competition winners the chance to win free repayments for a whole year. Consumers applying
3.1% Isa launched by National Counties 02-March 2010
National Counties Building Society has launched a 45 Day Notice Cash Isa ahead of the new tax year. The cash Isa offers a variable interest rate up to 3.10 per cent tax-free AER for balances of £35,000
Santander launches 3.75% fixed-rate bonds 02-March 2010
High street lender Santander has today launched a new range of fixed-rate bonds. The new products pay up to 3.75 per cent gross/AER, meaning they could be of interest to consumers seeking the best savings
'Improved availability of cheap mortgages needed' 01-March 2010
Banks need to be more willing to lend if the availability of cheap mortgages is to improve, it has been suggested. According to Catherine Hearnden, director of MyMortgageDirect, increased loan-to-value
Nationwide reports fall in house prices 01-March 2010
UK house prices have fallen for the first time since the second quarter of 2009, it has been reported. Latest figures from Nationwide indicate that prices fell by one per cent during February after nine
Housing deposits remain a "major problem" for potential first-time buyers, even when cheap mortgage rates are available, according to the Council of Mortgage Lenders CML. Bernard Clarke, communications
Many consumers 'ignoring Isa accounts' 19-March 2010
Just 37 per cent of UK taxpayers subscribed to a cash Isa in 2008-09, a new report has indicated. According to Scottish Widows, consumers lost an estimated £15.5 billion in unnecessary tax payments
Share investors 'planning to use increased allowance' 18-March 2010
More than half of all cash investors plan to fully utilise their increased stocks and shares Isa allowance from next year, it has been reported. A study conducted by The Share Centre indicates that six
CML highlights effect of stamp duty holiday end on lending 18-March 2010
House purchase loans fell by more than three times the decline in remortgages in January, latest figures have indicated. Latest figures from the Council of Mortgage Lenders CML clearly highlight the
Scottish bank launches Isa products 17-March 2010
The Dunfermline has launched two new cash Isa products, as the deadline for using the 2009-10 tax-free allowance draws near. Consumers in Scotland can take advantage of a one-year account at a savings
Lloyds encouraging consumers to overpay on their mortgage 17-March 2010
Lloyds Banking Group has launched a new scheme allowing all homeowners to overpay on their mortgage by up to 20 per cent without incurring a penalty charge. The bank says it will run the scheme for one
New 3-year tracker and capped rate mortgages launched 17-March 2010
Britannia and The Co-operative Bank are to jointly launch a new three-year tracker and a five-year capped rate mortgage. The banks, which are making the deals available from Friday March 19th, have described
NS&I to launch new RPI-linked savings certificates 16-March 2010
National Savings and Investments NS&I is to release new issues of its Index-linked Savings Certificates. The new issues, sold in three and five-year terms, will be available to consumers from Wednesday
Property sales stall during March 16-March 2010
The UK property market is experiencing its slowest March in recorded history, Rightmove has claimed. Prices have reached a virtual standstill, the firm has reported, with new sellers asking for just £216
Women 'better than men' at managing finances 15-March 2010
Women tend to be more adept at budgeting than their male counterparts, it has been claimed. Jasmine Birtles, founder of Moneymagpie.com, said female professionals tend to be better at controlling income
Savers 'believe Isa allowance rules are unfair' 15-March 2010
The vast majority of UK savers believe current rules on individual savings accounts Isa are unfair and penalise those wishing to minimise investment risks, it has been reported. According to research
Many mortgagees 'in danger of defaulting if income falls' 15-March 2010
A drop of £300 in income would cause one in four people to default on their mortgage payments, it has been reported. Research conducted by Callcredit, which interviewed professionals in the 35-44
N&P introduces six-month e-bond at 3.05% 12-March 2010
Norwich & Peterborough N&P Building Society has announced the launch of a new Six Month E-Bond, plus an increase to the savings interest rate paid on its One Year E-Bond. The bonds, which offer
Guarantor mortgage products 'an interesting development' 12-March 2010
A new mortgage product range has been launched by The Mortgage Works – a subsidiary of Nationwide Building Society – which allows a guarantor to cover up to 30 per cent of the purchase loan. The
Santander slashes cost of fixed-rate mortgages 12-March 2010
Santander has reduced rates by up to 0.40 per cent across its four-year fixed-rate mortgages, increasing the options available to homeowners. The bank is now offering a four-year fix at 4.49 per cent with
Levels of remortgaging activity have increased, says John Charcol 11-March 2010
The remortgage market has returned to strength during the first two months of 2010, it has been reported. According to the John Charcol Index, purchases took only 47.3 per cent of mortgages sold by the
Savers 'remain happy with cash investments' 11-March 2010
Over half of all investors have their money stored as cash, according to the Fair Investment Company. The firm reports that 25 per cent of investors are happy with their savings interest rates and will
Mortgage competition 'leading to cheaper rates' 11-March 2010
Additional market competition has led to the emergence of cheaper mortgage rates, according to one lender. Andy Pratt, chief operating officer at Alexander Hall, said confidence is gradually returning
NS&I launches Direct Saver account 10-March 2010
National Savings and Investments NS&I has launched a new savings account offering customers an easy way of managing their cash reserves. The institution is making its Direct Saver account, which
Rics says housing supply is outstripping demand 10-March 2010
Housing market supply is once again outstripping demand, according to the Royal Institution of Chartered Surveyors Rics. The organisation says new instructions outpaced buyer interest for a second consecutive
Northern Rock launches new fixed-rate bonds 09-March 2010
Northern Rock has launched two new issues of its fixed-rate bond which offer guaranteed savings interest rates of at least 3.15 per cent. The state-owned bank offers the rate to one year bonds, or a higher
Savers 'penalising themselves' by not using Isas 09-March 2010
Savers who fail to use their Isa allowance are effectively giving money to the taxman, according to one financial commentator. David Kuo, director of the financial website Fool.co.uk, said consumers should
Higher loan-to-values 'becoming more accessible' 09-March 2010
The increasing tendency among lenders to offer higher loan-to-values is a positive sign for those seeking cheap mortgage rates, it has been claimed. Ben Wilkie, editor of What Mortgage, said the market
Iceland votes against savings repayment proposal 08-March 2010
The Icelandic population has voted overwhelmingly against repaying £3.3 billion worth of loans to the UK and Netherlands. In the country's first referendum as an independent nation, 93 per cent of
Base rate hold 'keeps tracker mortgage rates low' 08-March 2010
Homeowners on tracker deals should remain on cheap mortgage deals for at least another month after the Bank of England chose to freeze interest rates once again. The Bank's Monetary Policy Committee held
Isa savers 'must be aware of the Easter weekend' 05-March 2010
Savers wishing to capitalise on their 2009-10 Isa allowance cannot afford to leave it until the last minute this year, it has been claimed. Clydesdale and Yorkshire Banks have reminded consumers that the
NS&I reports drop in savings over the winter 05-March 2010
Consumer saving dropped to the lowest level for over two years during the winter, it has been reported. According to National Savings & Investments' NS&I Savings Survey, people are now putting
Lack of mortgage cost awareness 'a worry' 05-March 2010
It is worrying how many people are missing out on cheaper mortgage rates through ignorance over their current repayment costs, according to one expert. Ray Boulger, senior technical manager at mortgage
Mortgagees 'ignorant to the rate they are paying' 04-March 2010
At least three million UK borrowers do not know the rate of interest at which they are currently repaying their mortgage, it has been reported. Post Office Mortgages reports that 28 per cent are ignorant
Co-op launches new fixed-rate mortgage 04-March 2010
The Co-operative Financial Services has added a new two-year fixed-rate deal to its mortgage range. Available through both the Co-operative Bank and Britannia, interest rates of 3.19 per cent are accessible
MP urges British consumers to save more 04-March 2010
Consumers need to be encouraged to save more following the recession, according to one MP. Mark Hoban, shadow financial secretary to the Treasury, said the UK economy has become too heavily reliant upon
Increased Isa allowances 'set to be utilised' 03-March 2010
Levels of individual savings account Isa business are set to surge when the increase tax-free allowance comes into force for all consumers, it has been reported. From April 6th 2010, all savers will
Lender launches free mortgage competition 03-March 2010
Homeowners seeking cheap mortgages can go one better with Santander this month, as the lender is offering lucky competition winners the chance to win free repayments for a whole year. Consumers applying
3.1% Isa launched by National Counties 02-March 2010
National Counties Building Society has launched a 45 Day Notice Cash Isa ahead of the new tax year. The cash Isa offers a variable interest rate up to 3.10 per cent tax-free AER for balances of £35,000
Santander launches 3.75% fixed-rate bonds 02-March 2010
High street lender Santander has today launched a new range of fixed-rate bonds. The new products pay up to 3.75 per cent gross/AER, meaning they could be of interest to consumers seeking the best savings
'Improved availability of cheap mortgages needed' 01-March 2010
Banks need to be more willing to lend if the availability of cheap mortgages is to improve, it has been suggested. According to Catherine Hearnden, director of MyMortgageDirect, increased loan-to-value
Nationwide reports fall in house prices 01-March 2010
UK house prices have fallen for the first time since the second quarter of 2009, it has been reported. Latest figures from Nationwide indicate that prices fell by one per cent during February after nine
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