American Express launches household insurance
July 19, 2006
Financial service provider American Express has launched a new household insurance product which it claims offers “unrivalled service levels” through a panel of 14 insurers.
The package offers new for old cover which will replace items that are stolen or damaged with a replacement, although some items such as clothes and linen may be excluded.
Home emergency [...]
Savings ratio reaches four-year peak
July 18, 2006
The UK savings ratio – the proportion of disposable income that is saved rather than spent in households – hit a four-year high of six per cent in the first quarter of this year, Halifax reports.
Using data from the Office of National Statistics, the bank found that total household saving totalled around £12.9 billion in [...]
Intelligent Finance enhances mortgage range
July 18, 2006
Mortgage provider Intelligent Finance has launched a range of new mortgages, including a three-year offset tracker option with a rate of 4.65 per cent.
This product will be set to track at 0.15 above the Bank of England base rate for the opening period and is available for both house purchase and remortgage.
During the opening three-year [...]
Customers advised to incorporate breakdown cover
July 17, 2006
Motor insurance customers have been advised by Liverpool Victoria that they could potentially save £39 a year if they incorporate breakdown cover into their vehicle protection.If drivers do this rather than becoming a member of a motoring association, it could lead to a collective saving of £250 million, the company claims.Nigel Snell, head of external [...]
Abbey launches new growth account
July 17, 2006
Financial service provider Abbey has launched a new two-year growth bond with a rate of 5.5 per cent gross per year.
According to the company the rate on this bond, which is available until August 8th or until it sells out, is the highest interest rate currently available on the market.
Interest will be paid on an [...]
Britannia extends guarantee on savings account
July 14, 2006
Financial service provider Britannia has extended the rate guarantee that it offers on its DirectSaver account.
The lender offers a guarantee that its savings account will match the Bank of England base rate – meaning that it currently has an interest level of 4.5 per cent on a minimum balance of £1,000.
Previously, this offer had been [...]
RIAS: Ask the right questions when buying travel insurance
July 14, 2006
Over-50s insurance provider RIAS has advised its customers to always consider the proper elements when purchasing travel insurance, as too many people often shop on price alone.
The company claims that insurance can often be tailored to the particular requirements of customers and that packages are sometimes individualised, making them difficult to compare on a like-for-like [...]
Consumers urged to watch out for mortgage application fees
July 14, 2006
Financial advice website MoneyExpert has advised mortgage borrowers to be aware of application charges on packages they take up, reporting that these fees have increased by 22 per cent in the last year.
According to the organisation, the average application fee for a discount mortgage is currently £407, while for a fixed-rate offer it is £494.
These [...]
Nationwide increases ERCs
July 13, 2006
Mortgage provider Nationwide has announced that it is increasing the early repayment charges (ERCs) that are set on some of its mortgage offers.
The lender states that it charges ERCs if a loan is repaid or an overpayment of £500 or over is made within the introductory fixed-rate or tracker period of an offer, or within [...]
Alliance & Leicester increases saver rates
July 13, 2006
Customers who hold a euro savings account with offshore savings bank Alliance & Leicester International Limited (ALIL) will receive a rate of 2.9 per cent on their savings, it has been announced.
This move, which is an increase of 0.25 per cent, follows the European Central Bank’s decision in June to increase the official Euro interest [...]
