SIPPs: Why SIPP fees might be about to rise

Why SIPP fees might be about to riseFears are growing that investors in Self-Invested Personal Pensions (SIPPs) could see fees rise sharply following an increase in the cost of regulation. All SIPP providers pay fees to the Financial Conduct Authority (FCA), as well as an annual levy to the Financial Services Compensation Scheme (FSCS), which “pays compensation if a firm is unable, or likely to be unable, to pay claims against it.” Miss-selling and toxic investments As anyone who has read our blogs over the past few years will know, the self-invested pension ...

Savings: 5 top accounts from banks you have never heard of

Compound interestOne of the unforeseen consequences of the financial crisis has been the number of new banks offering accounts to UK savers. Some of these are brand new start-up, so-called ‘challenger’ banks, whilst others are based overseas and have moved to the UK. Savers are by their very nature cautious people who want to know their money is safe, so it takes some time before these new banks are trusted. We therefore thought we’d highlight five accounts, all protected by the Financial Services Compensation Scheme (FSCS), which pay market leading rates of ...

Savings: Help to Buy ISA providers named

Help to Buy ISA providers namedThe banks and building societies that are set to offer the Government’s new Help to Buy ISA (Individual Savings Account) have been named. The Help to Buy ISA was announced by George Osborne later this year and is designed to help first-time buyers save enough money for a house deposit. Figures show that the average purchase price paid by a first time buyer is £211,000, with an average deposit of 19% needed. How will the Help to Buy ISA work? First time buyers who take out a Help ...

Interest rates predicted to rise, what action should you take now?

Interest rates predicted to rise, what action should you take now 150pxAfter six years at an all-time low, the Governor of the Bank of England, Mark Carney, has suggested that interest rates could rise before the end of the year. Over the past few years we’ve all grown used to low interest rates; mortgage holders have enjoyed them, whilst savers have had to endure considerable pain. So with an interest rate rise predicted what action should you take? Mortgage borrowers If you have a tracker rate mortgage As the name suggests, the interest rate ...