Cash ISA interest rates plummet to new low

Cash ISA interest rates plummet to new lowNew figures have shown that interest rates on Cash ISAs (Individual Savings Accounts) have fallen to new lows. The research from Moneyfacts, the financial information website, has shown that the average interest rate on a Cash ISA has fallen to 1.74%, plummeting from 2.55% a year ago. The research backs up data from the Bank of England, which showed the average interest rate on Cash ISAs had fallen to 1.85% in December. The figures also show that ...

Mortgages: How to help your children get onto the housing ladder

New research from HSBC and the Centre for Economics and Business Research (CEBR) has shown that one in five first time buyers needs help from their parents. In fact between 2008 and 2011, 100,000 first time buyers were helped by their parents. Since the credit crunch the number of high loan to value mortgage deals has shrunk significantly, most lenders now require at least a 10% deposit and the best deals are reserved for borrowers with even more to put down. So, if your children are caught in the ‘Catch 22’ of rising rental costs, meaning they can’t afford to save to ...