The Edge brings good news to savers for a second time

Kaupthing Edge, the Icelandic bank that made a recent appearance in the UK market, has brought good news to savers for a second time, announcing that it will not be reducing the interest rate on its savings account despite the recent base rate cut.
This will be welcome news for those looking to get a high [...]

Building societies are still looking healthy according to officials

According to some industry officials buildings societies are managing to avoid the brunt of the global credit crunch, even though the nation’s major banks are suffering as a result of the credit squeeze. Officials from the Building Societies Association recently claimed that building societies are not suffering in the same way as banks and other [...]

Credit crunch affects building societies

According to recent report the global credit crunch that has swept across the UK is starting to take its toll on building societies as well as on banks and other lenders.
It was originally thought that building societies had escaped the effects of the credit crunch, as most funded their mortgage lending through savers’ deposits.
However, in [...]

Another 0.25% off the base rate

Homeowners and industry professionals were relieved earlier this week to hear that the Bank of England was cutting the base rate for the third time in recent months.
The 0.25% base rate cut will take the interest rate down from 5.25% to 5%, with the Bank of England hoping that increased affordability amongst homeowners will help [...]

Over 80% of Brits worried about their financial future

According to a recent report over 80% of Brits are concerned about their financial future, and around 30% are concerned that they will not be able to cope financially for much longer.
A recent survey showed that 84% of Brits were worried about their future finances.
The effects of the credit crunch, tighter credit conditions, and rising [...]

Older consumers may have to work into their seventies

According to a recent report many people that are now on their late fifties and early sixties may end up having to work well into their seventies, as they struggle to keep up with financial commitments and debts.
Industry officials claim that many people may not be able to afford to retire at the traditional retirement [...]

Equity ISAs not as popular as cash ones

Over recent years equity ISAs in the UK have prove far more lucrative than cash ISAs, enabling consumers to earn a far higher return on their money.
However, the last year has seen cash ISAs outperform equity ISAs, and with so much volatility in the IK stock markets many consumers are now turning to cash ISAs [...]

Household finances will not suffer due to council tax rise

A number of recent living cost rises have seriously affected household finances in the UK at a time when many are already trying to cope with the effects of higher mortgage repayments.
There have been a number of rises over recent weeks, including energy bills, water bills, and food costs. Other recent hikes include the cost [...]

Possible further rise in savings guarantee

Savers could benefit from a further rise in the government’s savings guarantee by the end of this year, according to a recent report.
This time last year the government offered a 100% guarantee on only the first £2000 of savers’ money in savings accounts, with a reduced guarantee on additional sums.
After the Northern Rock crisis [...]

People in their thirties are saving too little and spending too much

A recent report has suggested that many consumers in their thirties could face problems when it comes to their financial futures and their retirements, because many are simply spending too much, saving too little, and have done little or nothing about putting some retirement funds away for their future.
Industry experts state that many people in [...]

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