Savings: The ‘nicer’ ISA is coming soon, 6 reasons you can’t afford to miss out

27The Individual Savings Account, or ISA for short, has become hugely popular since it was introduced in the late 1990s. But from 1st July ISAs are changing. Firstly they will now be called the New ISA or NISA for short. But far more importantly there are other changes, which will bring huge opportunities for savers. So what’s changing? How can you benefit? What action do you need to take? We’ve got all the answers right here. #1: Limits are rising Currently you can pay up to £11,520 into an ISA, but from 1st July the ...

Savings: Is the price to beat inflation worth paying?

iStock_000007329749XSmallEven though inflation has started to fall, the clamour for savings accounts which beat inflation has never been stronger. But whilst it’s important to beat inflation, is this the only thing savers should be taking into consideration when selecting a savings account? Why is it important to beat inflation? Simply put, if your savings don’t grow by an amount equal to inflation, the buying power will be reduced and you will lose money in real terms. To put it another way. If at ...

Bank of England leaves interest rates unchanged

London_istockDespite speculation that the Bank of England’s Monetary Policy Committee might have considered cutting interest rates, or indeed extend the existing programme of Quantitative Easing (QE), no changes to either were announced when the MPC’s decision was revealed at noon today. Bank base rate has now been on hold at 0.5% for over four years and with a change in Governor imminent, it seems the members of the MPC are not keen to make any significant changes, before Mark Carney takes up his post ...

SSAS: Is a SSAS business loan a viable alternative to your bank?

Is a SSAS business loan a viable alternative to your bankOver the past few years the banks have come under almost constant criticism for apparently holding back lending to small businesses and that when they do offer a loan, the terms are so onerous that the business owner decides against proceeding. So, whilst many businesses of all sizes do want to borrow to expand, they are often hamstrung by the banks. For some companies though, there is a possible alternative; a ...