BBA announces growth in basic bank accounts

The British Banking Association (BBA) has today announced that growth in basic bank accounts is continuing and is heading towards the government’s target of financial inclusion.
There are currently 6,443,995 basic bank accounts in the UK, which are intended for people who cannot meet traditional bank criteria for a standard current account.
Particular facilities are provided on [...]

Nationwide increases fixed mortgage rates

Building society Nationwide has today announced that it is increasing the interest rates on its fixed-rate mortgage range.
The company’s two-year option is available from 4.98 per cent with a fee of £399 or 4.79 per cent with a £699 fee.
Fixed-rate options for three, five and ten years all have a fee of £399 and are [...]

Swiftcover reports on UK motorists’ speed camera gripes

Online insurance company swiftcover.com has published a report on the lack of faith that motorists in the UK have in speed cameras.
There are currently 4,403 cameras in use in the UK, which lead to more than 2.2 million speeding convictions every year – more than treble that of ten years ago.
According to the majority of [...]

Sainsbury’s: Too many travellers are uninsured

Too many people are going on holiday without taking out travel insurance according to Sainsbury’s Bank.
A survey for its travel insurance arm found that as much as £4.2 billion of holidays and over £2 billion of belongings will lack cover this summer.
Robert O’May, travel insurance manager at Sainsbury’s Bank said: “It’s staggering that despite quality [...]

Alliance Cornhill warns of need to insure garden bounty

Alliance Cornhill is warning consumers to take out cover on the contents of their garden shed which could be worth thousands of pounds.
According to the insurer’s survey, 60 per cent of Britons fail to keep their shed secure with a fifth not even fitting a lock, yet items inside are worth an average of £2,000.
With [...]

Halifax launches new current account

Halifax has launched a new current account which it claims gives the best interest rates on the high street.
The account promises to pay five per cent interest on balances up to £2,500 which could benefit users by £1,065 over the typical life of a current account.
Benny Higgins, CEO of Halifax Bank of Scotland (HBOS) Retail, [...]

Insuresupermarket comments on launch of motor insurance by Ryanair

Comparison site insuresupermarket has issued a statement regarding the launch of motor insurance by budget airline Ryanair, saying that it will “need to be competitive”.
This is owing to the fact that the fit of this product with the airline’s customers is not entirely obvious, unlike its travel insurance option.
One reason for the launch of this [...]

Older drivers overtaking youngsters in new car purchases

Retirees in Britain are twice as likely as younger motorists to buy a new car, according to a new report by AA Personal Loans.
Some 43 per cent of people over the age of 50 are expected to buy a new vehicle in the next 12 months, compared to 23 per cent of those under the [...]

Norwich Union stresses importance of full disclosure

Insurer Norwich Union has released a statement emphasising the importance of submitting every detail requested on insurance application forms.Many claims are rejected as a result of non-disclosure on the customer’s part, according to Norwich Union, which has released a factsheet discussing the importance of submitting details.One of the most important facts emphasised by the company [...]

More credit card care could help avoid financial fraud

A new study by financial advice website Moneyfacts.co.uk has revealed that many students are putting themselves in danger of suffering financial fraud and that they could avoid this by being more cautious.
Moneyfacts carried out a survey of more than 800 students at the University of East Anglia, finding that 73 per cent insufficiently destroy used [...]

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