Savings: 5 Cash ISA deals we like

Savings: 5 Cash ISA deals we likeSavers got a boost in the Budget earlier this year, when it was announced that from July, the maximum contribution to a Cash ISA (Individual Savings Account) will rise to £15,000 each and every year. It will also be possible, again from July, to transfer money from a Stocks and Shares ISA to a Cash ISA. Both of these moves will give Cash ISAs a new lease of life. But which of the 200 or so Cash ISAs currently available is right for you? We’re here ...

Savings: Bank of England move to boost savings interest rates?

iStock_000006918404XSmallA joint move by the Bank of England and the Treasury could boost interest rates for savers. It was announced today, that from January next year, the Funding for Lending scheme will no longer be available to support mortgage lending, which could mean interest rates on savings accounts rise in the New Year. The scheme, first launched in August 2012, was designed to make it cheaper for banks and building societies to borrow money, by making £60 billion available to them at ...

Mortgages: Banks warned against pushing up interest rates

iStock_000004583777XSmallThe Financial Conduct Authority (FCA) has warned banks and building societies that changing the terms and conditions on tracker mortgages could break consumer protection laws. These types of loan are known as a tracker mortgage, because the interest rate charged is designed to only change in line with the rate it tracks, usually the Bank of England base rate. However, over the past few months, two high profile lenders, the Bank of Ireland and West Bromwich Building Society, have taken advantage of obscure ...

Buy to let: Thousands of borrowers face interest rate hike

iStock_000010528981XSmallThousands of buy to let investors are facing a hike in interest rates, which will significantly increase their monthly mortgage repayments. Despite Bank of England base rate remaining at 0.5% and with no movement expected by most financial experts for at least another three years, the West Bromwich Building Society has announced an interest rate rise for buy to let investors. The move means some 6,700 buy to let investors will see their interest rate rise by 2% from 1st December onwards; ...