Savings: Interest rates to rise soon? Keep your options open with these five accounts

iStock_000015528657_ExtraSmallMark Carney, the Governor of the Bank of England, has said interest rates may rise sooner than expected. Financial experts now expect interest rates to rise in the first six months of 2015, or possibly as early as this autumn. But the speed of any rate rises is expected to be slow, with Carney saying: “We expect that eventual increases in Bank rate will be gradual and limited.” The news will come as a welcome surprise for savers, many of whom have given up hope of a rise in interest rates. But it ...

Savings: Tie up your savings for 10 years? No thanks, but here’s five alternative options

Pound LandscapeWe all know savers have had it tough over the past few years. Low interest rates, pushed even lower by Government initiatives to help the mortgage market and relatively high inflation, have all combined to make it almost impossible for savers to get a ‘real return’ on their cash. It’s nearly always been the case that savers will get a better rate of interest the longer they are prepared to tie up their savings; a ...

Mortgage approvals hit a 15 month high

New figures show that mortgage approvals have risen to a 15 month high, giving some hope that the bottom of the housing slump has been reached. New figures from e.Surv show that mortgage approvals in August were at their highest level since May 2010; approvals rose, on a seasonally adjusted basis, from 49,239 in July to 49.566 in August. Hope for first time buyers More than 10% of the mortgages approved in August went to buyers with a 15% deposit or less, giving hope to those people with smaller deposits, particularly first time buyers, that mortgage lending criteria is easing. Further evidence that the ...

The return of the 100% mortgage

Aldermore have launched a new mortgage product available up to 100% of the purchase price if a family member is willing to act as guarantor to the borrowing above 75% of the value of the property. The Family Guarantee Mortgage will be available to both first time buyers and home movers and is thought to be the first 100% mortgage made widely available since the credit crunch. The mortgage will have an interest rate of 6.48%, which is fixed for three years and a family member must be willing to guarantee the borrowing above 75% loan to value. The mortgage comes with ...