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Santander increases interest payments on current accounts - Tue, 9 Jun, 2009
From Monday 8 June, Santander’s Abbey and Alliance & Leicester banks, which are soon to be rebranded as Santander, increased interest paid on current account deposits by 1%. The increase ta [more]
Post Office savings account backer faces credit rating downgrade - Mon, 8 Jun, 2009
The Bank of Ireland, which backs the Post Office savings accounts, may be facing a downgrade of its credit rating by Moody’s. The leading credit rating agency says it will review the rating for [more]
Pound sterling loses strength following government crisis - Fri, 5 Jun, 2009
The pound lost strength against the dollar and Euro following yesterday’s news that a fifth minister had quit, deepening the government crisis. As pension minister James Purnell stepped down to [more]
Bank of England holds interest rates at 0.5% - Thu, 4 Jun, 2009
As predicted by the majority of analysts, the Bank of England’s Monetary Policy Committee has decided to maintain the 0.5% level for interest rates for a further month. Although recent statisti [more]
Barclays slashes interest rates for child savings accounts - Wed, 3 Jun, 2009
High street banking giant, Barclays, has announced that it has cut the interest rates of its Barclays Children’s Savings and Barclayplus accounts. Both of these savings accounts have seen the i [more]
Darling opposes Europe-wide banking regulation - Tue, 2 Jun, 2009
The European Commission has released details of a proposal for a centralised ‘European System of Financial Supervisors.’ The Chancellor is set on fighting the plan, which is intended to pr [more]
Pension funds look to commercial property lending to boost income - Tue, 2 Jun, 2009
According to industry insiders, pension funds are increasingly beginning to look to commercial property lending as a profitable asset class. Several lenders are launching secure funds for institution [more]
Lloyds TSB launches 5% interest savings account - Mon, 1 Jun, 2009
Lloyds TSB has launched a Monthly Saver account, which runs for a year and pays 5% on savings. Savers can deposit between £25 and £250 into the account each month and customers can have i [more]
UK high street banks to benefit from Santander rebranding - Fri, 29 May, 2009
Despite fears to the contrary, Spanish banking giant Santander’s decision to rebrand its UK high street banks, Alliance & Leicester, Abbey and Bradford & Bingley, is likely to boost thei [more]
Lenders banned from selling PPI with loans - Fri, 29 May, 2009
The Financial Services Authority (FSA) has announced that it has banned lenders from selling single premium payment protection insurance (PPI) alongside unsecured personal loans. Today is the latest [more]
Investors look for funding to finance student property market investments - Thu, 28 May, 2009
Although some areas of the property market are feeling the strain of the recession, the buy-to-let student property market is booming and investors are seeking funding for their investments. In the p [more]
Barclays hikes interest rates on current account overdrafts - Wed, 27 May, 2009
Interest rates on overdrafts will be increased by almost a third on Barclays’ Additions Active packaged current account. It will also raise interest rates on all its other current account overdr [more]
Half of unsecured personal loans are to consolidate debt - Tue, 26 May, 2009
According to new research by Halifax Personal Loans, some 54% of unsecured personal loans are taken out by people who want to consolidate their existing debt. These consolidating loans are often take [more]
Virgin to launch online banking service - Fri, 22 May, 2009
The multi-faceted Virgin brand is hoping to take advantage of the public’s distrust of traditional banks and building societies by setting up an online bank though its Virgin Money subsidiary. [more]
National Savings and Investments to increase rates - Thu, 21 May, 2009
In an attempt to compete with other savings accounts being offered by banks and building societies, National Savings and Investments (NS&I) has announced it will be increasing its interest rates o [more]
Personal loan rates beginning to fall - Wed, 20 May, 2009
Lenders including Barclays, Tesco, the AA and Sainbury’s Bank have all dropped their interest rates for personal loans after two years of cripplingly high rates, which saw the cost of taking out [more]
Pound sterling gains alongside confidence in UK economy - Tue, 19 May, 2009
More indications that the UK economy may be on the track to recovery came this week as the pound gained strength to reach its strongest position against the dollar and the euro so far this year. Yes [more]
Savers urged to move from low rate savings accounts - Mon, 18 May, 2009
Savers have been urged to ditch accounts that offer “appalling” interest rates. A recent survey by Defaqto showed that the average branch-based instant access savings account paid just 0 [more]
Child savings accounts and trust funds poor performers - Fri, 15 May, 2009
It’s a reminder that investments can fall as well as rise in value: many of the £250 government vouchers invested into child trust fund (CTF) schemes are worth less now than when they were [more]
Increase in mortgage approvals in March - Thu, 14 May, 2009
The number of approved mortgages rose significantly in March, according to figures released today. The Council of Mortgage Lenders (CML) confirmed that 31,000 mortgages were approved by lenders in Ma [more]
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