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 ...

SIPPs: Are SIPP deposit accounts covered by the Financial Services Compensation Scheme?

Are SIPP deposit accounts covered by the Financial Services Compensation SchemeAfter the credit crunch, the run on the Northern Rock and the instability of other financial institutions savers have understandably become more concerned about the security of their savings accounts. Go into almost any bank or building society, or indeed visit their website, and there are at pains to point out that savings held with them are secure; often pointing savers to the Financial Services Compensation ...

Housing & mortgage round up: Lloyds TSB to help 60,000 first time buyers, whilst housing market improves

Lloyds TSB to help 60,000 first time buyersNo house prices surveys this week but still plenty of news to report. This week saw a huge boost for first-time buyers as a major lender shows their commitment to this beleaguered group of would-be homeowners. Elsewhere there was good news for those people looking for signs that the housing market might finally be coming out of the doldrums....

Inflation linked savings accounts: should you believe the hype?

For the past 12 months or so savers have been caught in a perfect storm; inflation has been rising steeply and interest rates continue to run at all time lows. So where have savers turned to for a real above inflation return? The answer until the middle of last year was often NS&I (National Savings & Investments) Index Linked Bonds. These provided a return of 1% above RPI, came with three and five year terms, could be surrendered easily and to top it all the interest was tax free. Even the relatively low £15,000 subscription limit could not diminish the value to ...