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Jobs may go at Co-operative Bank
Hundreds of jobs may be shed at the Co-operative Bank as the bank attempts to raise the £1.5 billion it needs to plug the hole in its finances. The bank is expected to announce cost-cutting plans...
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Fixed rate bond providers to change their ways
Providers of fixed rate bonds will be made to change their ways after the Financial Conduct Authority (FCA) found evidence of substandard practice. The City regulator conducted a review of the sector...
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Nationwide offers lowest ever personal loan rate
Nationwide has lowered its representative personal loan rate to just 4.9% for current account customers on loans between £7,500 and £14,999. The society's lowest ever personal loan rate undercuts its...
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Santander to axe packaged bank accounts
Santander has announced that it plans to scrap its packaged accounts later in the year as it concentrates on improving its customer service. Around 20% of adults in the UK have paid-for accounts,...
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House prices to rise by 18% over five years
House prices in the UK will rise by almost a fifth over the next five years, a leading agent has said, though it should not be taken as a sign that the market is returning to a boom-and-bust...
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Skipton’s seven-year bond tops charts, but not inflation
There were positive signs for savers last week, after Skipton Building Society released a new fixed-rate bond paying 3.50%. But savers will need to lock away their money for seven years, and they’ll...
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RBS looking to expand its mortgage customers
The Royal Bank of Scotland has said that it wants to become a larger player in the market for UK mortgages in the years to come. Since its bailout by the government, the bank has reduced its...
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Osborne releases details on Help to Buy mortgage scheme
Chancellor George Osborne has told homebuilders and lenders this morning that the new Help to Buy Scheme will boost the housing market but that it will not become a catalyst to a new wave of...
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Advertising campaign announced for bank account switching system
An advertising campaign to promote the new switching system for bank accounts will get underway in September after the government backed the £750 million transformation for British banking. Animated...
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NS&I to cut Premium Bond prizes from August
Over 20 million Premium Bond holders will see their chances of winning prizes lengthened next month as National Savings & Investments (NS&I) reins in its prize fund. Funds have been flooding...
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Chancellor accused of watering down banking stability proposals
Chancellor George Osborne has been accused of pandering to banks and watering down key proposals designed to make the banking system safer. Observers from the House of Lords, where the Banking Reform...
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Buy-To-Let Mortgages: Working out Rent and Costs
How much can you borrow on a buy-to-let mortgage? How much rent should you charge? Check out our brief guide below for more information. The amount you can borrow on a buy-to-let mortgage is usually...
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Buy-to-let becomes short-term priority for investors
A majority of new buy-to-let landlords see property as a short-term investment, according to new research. A poll by the Association of Residential Letting Agents (ARLA) has found that the objectives...
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Brits persist with ISAs despite falling rates
Brits are still into the saving habit, opening 14.6 million ISAs during the 2012/13 tax year despite falling rates across the market. New figures from the Office of National Statistics show that...
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Interest grows in bank accounts as switching system nears launch
Interest is growing in current accounts that are not even active yet, as consumers await the chance to switch banks with greater ease in the autumn. Virgin Money's new current account range has...
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Worst may be over for banks as PPI complaint numbers fall
The volume of complaints regarding payment protection insurance (PPI) may have hit its peak, after the Financial Ombudsman Service reported a decline in the number of complaints. Though numbers...
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Metro Bank celebrates third anniversary with 200,000 customers
Metro Bank is looking to the future with optimism, after increasing its customer base by half in just six months to over 200,000. And with a new current account switching system due in September that...
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Fourteen payday lenders withdraw from market
The clampdown on bad practice in the payday lending market has claimed the scalp of fourteen lenders, which have since decided to withdraw from the industry. The Office of Fair Trading (OFT) wrote to...
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Barclaycard steers ahead with 28-month 0% balance transfer card
Credit card holders can now receive 0% on a balance transfer for a record 28 months after Barclaycard once again nudged ahead of the competition. The new 28-month 0% balance transfer Platinum card...
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Funding for Lending Scheme condemns savers to help homebuyers
New figures reveal how the Government's Funding for Lending Scheme (FLS) has condemned savers by redistributing the returns into low-risk mortgage and re-mortgage products. Launched a year ago to...
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