Breaking UK News: personal finance news, mortgages, pensions, tax, personal loans, money, isa, savings, credit cards

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]
Bank of England releases April mortgage rates data - Wed, 13 May, 2009
Statistics released yesterday by the Bank of England show that mortgage lenders raised interest rates on 2-year fixed rate mortgages in April, but the cost of tracker and variable rate deals fell slig [more]
IoM savings account holders poised to reject Kaupthing offer - Tue, 12 May, 2009
Savers living on the Isle of Man who lost deposits totalling almost £1 million when Icelandic bank Kaupthing Singer & Friedlander (KSF) collapsed are expected to vote against a compensation [more]
Preferential over-50s savings accounts could be banned - Mon, 11 May, 2009
The government’s new Equality Bill could be bad news for holders of over-50s savings accounts. The bill, which is due for its second House of Commons reading today, would have to make a specifi [more]
Mortgage lenders begin to relax requirements - Fri, 8 May, 2009
New figures show that an increasing number of mortgage deals are becoming available that require smaller down-payments. Although two-thirds of mortgages require at least a 25% deposit, the number req [more]
Bank of England keeps rates steady but increases easing - Thu, 7 May, 2009
The Bank of England has revealed it will be increasing its levels of quantitative easing to further boost the economy. The Bank of England’s Monetary Policy Committee (MPC) has today announced [more]
Alliance and Leicester re-launches Premier Regular Saver account - Thu, 7 May, 2009
Alliance and Leicester (A&L) is encouraging people to start saving with the launch of its Premier Regular Saver account, which pays a very generous 7.00% AER The rate will be open to people who a [more]
Survey shows savings are a priority after receiving inheritance - Wed, 6 May, 2009
A survey of consumers carried out by Friends Provident has found that finding a good savings account would be a major priority for many people if they were to receive an inheritance. Asked what they [more]
Woolwich reduces rates on mortgages - Tue, 5 May, 2009
More than half of the mortgages offered by Barclays’ lending arm, Woolwich, are to see their interest rates cut by an average of 0.35%. Its two-year fixed-rate mortgage is now fixed at 3.69%, [more]
National Savings and Investments launches two new savings accounts - Fri, 1 May, 2009
Government-backed savings provider, National Savings and Investments (NS&I), has announced it has launched two new savings accounts which link interest payments to the retail price index (RPI). [more]
House prices fell in April says Nationwide - Fri, 1 May, 2009
A house price fall of 0.4% was recorded in April by Nationwide Building Society. The average price of a home now stands at £151,861, which is 15% lower than this time last year. However, Nation [more]
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