uSwitch comments on Lloyds’ decision to increase fee
August 21, 2006
Financial comparison website uSwitch.com has issued a comment on Lloyds TSB’s decision to increase the monthly fee on its premier banking account from £15 to £25.
Nick White, head of personal finance at uSwitch, said that the 70 per cent hike is “likely to get a frosty reception” from the bank’s more affluent customers.
The monthly increase [...]
CML announces strong July lending
August 21, 2006
The Council of Mortgage Lenders (CML) has announced that it has recorded the strongest ever lending for the month of July this year, with £30.4 billion of loans going out.
This is the second highest figure on record for the CML, behind June of this year when £32.4 billion of lending – six per cent higher [...]
Halifax announces new student overdraft limits
August 18, 2006
A new range of interest-free overdraft limits have been announced on the Halifax student current account, with effect immediately.
All limits have now been increased to £2,750, compared to previous levels of £1,750 and £1,900 in the first and second years of student accounts.
The third, fourth and fifth years of Halifax student accounts previously had overdraft [...]
Amex promotes i-Trak travel technology
August 18, 2006
Insurance provider American Express (Amex) has advised its customers to use a new technology option called i-Trak to help protect their luggage.
Customers can attach i-Trak labels, which carry a personal barcode, to their luggage, enabling people who find the bags to track the owners using the internet, text or an airline’s telex system.
Amex is offering [...]
Chelsea adjusts mortgage SVR
August 18, 2006
The Chelsea Building Society has announced that it is changing its standard variable rate (SVR) for mortgages from 6.49 per cent to 6.74 per cent.
According to the lender, this adjustment is in response to the Bank of England base rate increase that was announced on August 3rd.
Any new borrowers that take up a Chelsea mortgage [...]
Buy-to-let mortgages hit record levels
August 17, 2006
The Council of Mortgage Lenders (CML) has announced that buy-to-let mortgages set a new record in the first half of 2006, with 152,000 loans worth £17.5 billion being advanced.
Previous record totals were measured in 2005 and these figures represent increases of 17 per cent by volume and 20 per cent by value on last year’s [...]
Alliance & Leicester launches new fixed-rate savings bond
August 17, 2006
A new one-year fixed-rate savings bond for large balances has been launched by Alliance & Leicester International Limited (ALIL), offering an interest rate of 5.3 per cent.
Customers can deposit between £25,000 and £1 million in this account, which will reach full maturity on August 31st 2007.
Interest can be paid on either a monthly or annual [...]
Skipton claims to offer lowest rate of top ten societies
August 16, 2006
The Skipton Building Society has claimed that it offers the lowest standard variable rate (SVR) of the ten major building societies in the UK – with a standard rate of 6.14 per cent.
Furthermore, Skipton states that its SVR is 0.5 per cent below the average standard rate offered by all banks.
The majority of investors with [...]
Saga offers security advice to students
August 16, 2006
Insurance provider Saga has offered guidance to students who will be beginning their first year at university this year, stating that one in ten of them have a chance of being burgled each year during their studies.
Lots of robberies take place through carelessness, the company claims, with a quarter taking place because of an open [...]
HSBC launches new zero per cent credit card
August 16, 2006
A new credit card has been launched by HSBC which offers zero per cent interest on balance transfers for 12 months and purchases for three months.
With this card, which has a typical APR of 15.9 per cent, the bank claims that it is one of the few providers to offer zero per cent interest on [...]
