Savings: Rates fall further as the drought continues for savers

desert with wet place on itAs if savers needed any confirmation, new research has shown that interest rates are still falling. What’s more, there is no end in sight to the drought, which has seen hard pressed savers endure an unprecedented period of low interest rates. New research from Moneyfacts, shows that over the past 18 months’, savers have seen 883 cuts to interest rates on all savings account, compared to just 188 rises. The one bit of good news for savers is that inflation remains relatively low; 1.3% (Retail Price Index) ...

Savings: Are you one of the 25% of savers being ripped off?

Are you one of the 25% of savers being ripped off?New research has found that one in four savers is being ripped off by banks and building societies paying poor rates of interest on savings accounts. The Financial Conduct Authority’s study has found that savers are losing out on around one billion each year in interest, due to low interest rates and the tactics employed by the UK’s banks and building societies. The key findings of the study include: More than 90% of adults in the UK have a savings account, but 25% of savers, ...

Our financial wish list – 6 things we’d like to see change in 2014

Our financial wish list  6 things we’d like to see change in 2014 150pxThe financial landscape seems to change quicker than ever these days. Some changes will make you better off, others will cost you money, some will make your life simpler, others will make it more complex. We’ve put our thinking caps on and come up with six changes we’d like to see in 2014, which would make many people better off, whilst increasing fairness and transparency. Do you agree with us? What would you like to see changed? Leave ...

Demand for fixed rate mortgages at record high

iStock_000009025017_ExtraSmallAccording to recent figures, published by the Council of Mortgage Lenders (CML), demand for fixed rate mortgages has risen to a record high. The CML’s figures reveal 83% of new mortgages, taken out in the first quarter of this year, were on a fixed rate; the highest proportion since records began in 1993. The increase in the number of fixed rate mortgages being taken out is part of an on-going trend. 10 years ago only 19% of new mortgages were of this type, ...