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Breakthrough for Savers: Leeds Building Society launches 4% bond
Leeds Building Society has launched a new fixed-rate monthly income bond paying 4%, but savers will have to lock in for the next 10 years to reap the benefits. Available from today, the bond pays a...
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Taking advantage of low rates to overpay your mortgage
As many as one in five homeowners are taking advantage of low interest rates by overpaying on their mortgages, according to Santander. Research by the bank has revealed that 19% of homeowners are...
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Yorkshire Building Society outshines Help to Buy for 95% mortgages
A number of new mortgages launched by the Yorkshire Building Society and its subsidiaries are offering buyers even better rates than the Government's Help to Buy scheme. New deals have been made...
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The message is out: almost two-thirds aware of 7-day switch system
More than six in 10 consumers have said they are aware of the new seven-day current account switching service, as the new service gathers momentum. A recent study by Industry Branding has gauged...
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Cost of payday loans to be capped
The cost of payday loans will be limited by new legislation, the Government has announced. Chancellor George Osborne said a law to cap the cost of payday loans would need to cover the overall cost –...
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HSBC outguns major rivals as it joins Help to Buy
HSBC is to join the Help to Buy ranks this week, undercutting other major lenders participating in the scheme. The bank’s new range of 95% loan-to-value mortgages will include a 2-year fix at 4.79%,...
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Barclaycard under threat from Halifax as it reverts back to 29 months at 0%
Barclaycard has scaled back its maximum 0% balance transfer duration to 29 months, but it remains the longest offer on the market. The lender has reduced the maximum term on its balance transfer card...
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Mortgage lending approaches £10 billion in October
Mortgage lending approached the £10 billion mark in October, according to the British Bankers' Association (BBA) – 32% higher than October 2012 and the highest level in almost four years. The number...
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Payday loans could damage your chances of getting a mortgage
Payday lenders will have to urge borrowers to seek debt advice on future adverts, the Government says, as new evidence finds mortgage lenders reluctant to consider applications from those who have...
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First-time buyers let down by lack of new housing
Lending to first-time buyers has improved this year, but the Help to Buy scheme is still not solving the woes of the housing market, says the Bank of England Governor. Figures from the Council of...
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Nationwide to simplify its savings accounts
The Nationwide Building Society is the latest institution to announce that it is simplifying its old savings accounts to improve transparency for savers. As part of a widespread clean up of its old...
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Nottingham Building Society boosts competition with discounted deals
The Nottingham Building Society has reduced a number of its discounted rate mortgages, adding further competition to the market for higher loan-to-value categories. With the Bank of England...
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Brits rack up record levels of debt
Getting more people onto the housing ladder has led Brits to accumulate a record level of debt. According to Bank of England figures, individuals owe a grand total of around £1.43 trillion, which...
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Ensure you can afford your new mortgage, warns Bank of England Governor
House price inflation remains strong, but Brits should avoid committing themselves to a mortgage that they won't be able to repay if interest rates go up. The latest Nationwide House Price Index...
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Good service and rewards: why Brits are switching current accounts
Brits are beginning to warm to the idea of changing their banks, as greater numbers use the new fast-track switching system to switch their current account. The new switching system was launched in...
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RBS apologises after suffering technical glitch on Cyber Monday
The Royal Bank of Scotland has apologised after a technical glitch left customers unable to make online or card payments for around three hours on Monday evening. The technical glitch affecting RBS,...
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Post Office challenges local lenders with strong 90% LTV mortgage
The Post Office has reacted to competition from local lenders by launching an impressive new fixed-rate mortgage at 90% LTV. The lender has replaced its previous 2-year fix for first-time buyers...
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RBS customers can leave woes behind with a seven-day switch
Long-suffering customers of RBS and NatWest can wave goodbye to impromptu technical faults by switching to a new bank in just seven days. The bank has apologised after its latest glitch on the...
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Autumn Statement 2013 - In a Nutshell
A summary of the measures addressed in today's Autumn Statement. Growth GDP to grow 1.4% in 2013. Growth revised upwards from 1.8% to 2.4% for 2014. Growth coming from higher consumer spending....
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Autumn Statement: Economic plan IS working – Osborne
The economic plan IS working, said chancellor George Osborne today as he delivered the 2013 Autumn Statement. The chancellor said that growth predictions had improved – to 1.4% in 2013 and to 2.4% in...
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