Harlequin Property update: Investors face compensation delays

Update Harlequin 150pxHarlequin Property investors seeking compensation look to be facing additional delays after an announcement from the Financial Services Compensation Scheme (FSCS). According a notice published on their website, the FSCS has seen a significant rise in the number of complaints relating to Harlequin Hotels and Resorts, often referred to simply as Harlequin. The notice goes on to say that the FSCS can only pay compensation where it is “satisfied that authorised firms which have gone out of business are legally liable for any losses potentially suffered by Harlequin investors.” In news ...

Savings: NS&I to reduce interest rates

No quick return for NS&I Index Linked Certificates 150pxNational Savings & Investments (NS&I) has announced cuts to the interest rates on some of their most popular savings accounts. Interest rates on NS&I’s Income Bonds, Direct Saver and Direct ISA (Individual Savings Account) will all be cut from 12th September 2013. Announcing the interest rate cut, NS&I said that the reductions reflected market trends on comparable products. Furthermore, according to NS&I, the changes will “continue to balance the interests of its savers, taxpayers and ...

SIPP Deposit Accounts: The misery continues

Dark, Ominous Clouds Promise Rain and poor Weather.The Funding for Lending Scheme has continued to push down interest rates on SIPP deposit accounts even further during January, causing more misery for pension savers looking to get a ‘real return’ on their savings. Perhaps unsurprisingly, there have been no rate increases whatsoever in January, in fact we have seen no rate rises whatsoever over the past three months, as banks and building societies look to the Funding for Lending Scheme to provide a cheaper source of ...