Savings: Help to Buy ISA providers named

Help to Buy ISA providers namedThe banks and building societies that are set to offer the Government’s new Help to Buy ISA (Individual Savings Account) have been named. The Help to Buy ISA was announced by George Osborne later this year and is designed to help first-time buyers save enough money for a house deposit. Figures show that the average purchase price paid by a first time buyer is £211,000, with an average deposit of 19% needed. How will the Help to Buy ISA work? First time buyers who take out a Help ...

Savings: Have you raided your children’s savings?

Have you raided your children’s savings?Educating your children about careful financial management, whilst encouraging then to save, is widely accepted as part of the modern parent’s role. However, new research from Santander has shown that millions of parents might not be the best people to be educating their children about careful financial management. The research, conducted by Santander, has shown: 32% of parents have dipped into their children’s savings to pay for something for themselves Less than half, 49%, of parents replace the money they take from their children, indeed 15% admit to having no intention ...

Mortgages: Are you about to be frozen out of the mortgage market?

Are you about to be frozen out of the mortgage marketA new report has shown that one group, traditionally thought to be nearing the peak of their earnings potential, are at risk of being frozen out of the mortgage market. The problem is due to new rules, known as the Mortgage Market Review (MMR) which was introduced by the Financial Conduct Authority (FCA) earlier this year. The aim of the new rules was to ensure that borrowers could repay the money lent to them. But one of the effects has been to ...

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 ...