Latest news for Moneyfacts 
Charitable And Ethical Finance(15/11/2011)
Recent environmental and humanitarian events around the globe will have seen more people taking an interest in how and where their finances are invested. Many of us may be keen to support causes we feel strongly about, particularly during the festive season when thoughts often turn to charity and helping those less fortunate. Charity accounts Offered mostly by local providers, charity savings accounts allow investors to support their ch... [more]
Savers are battling against shrinking spending power and a lack of inflation-beating savings accounts(13/05/2011)
To beat inflation (currently at 4%), a basic rate taxpayer at 20% needs to find a savings account paying 5.00% per annum, while a higher rate taxpayer at 40% needs to find an account paying at least 6.67%. Basic rate taxpayers can choose from 25 accounts that negate the effects of tax and inflation, all but one of which are fixed-rate ISAs. There are no inflation-beating accounts available to higher rate taxpayers and, worrying for everyone, t... [more]
Rates on variable rate accounts are rising at a slower speed than fixed rate bonds(13/04/2011)
The average rate on one year bonds fell to an all time low of 2.52% in August 2010, but has steadily risen since then. High demand for savers' money and expectations of a rise in bank base rate in the near future has pushed short term fixed bond rates to their highest level in more than a year. Michelle Slade, spokesperson for Moneyfacts.co.uk, commented: "Savers prepared to lock their money away have been given a boost as rates on fixed rate ... [more]
Surge in the number of fixed rate ISAs(01/04/2011)
In the last two years, the number of fixed rate ISAs has more than doubled from 56 in March 2009, to 139 today. it is believed that high demand for savers' money has led to this sharp rise in the number of fixed rate ISAs. Michelle Slade, spokesperson for Moneyfacts, commented: "The increased need to attract savers money has led to a surge in the number of fixed rate ISAs on the market. Savers are less likely to withdraw tax-free savings over ... [more]
Investors who have built up large savings pots have more choice when looking for a competitive ISA(18/03/2011)
New tax-free ISA accounts have been launched by providers over recent weeks. Compared to previous seasons, a total of 39 cash ISAs include introductory bonuses, as the 2011/12 ISA season is gathering pace. The number of cash ISA products accepting transfers in has also risen over the past couple of seasons, meaning investors who have built up large savings pots have more choice when looking for a competitive ISA. Louise Holmes, spokesperso... [more]
Availability of mortgages continues to improve but number of mortgage approvals fall(09/02/2011)
Borrowers with a 20% deposit have seen a threefold increase in the number of deals on offer. Many lenders are now making their best deals available to those with a 25% deposit, resulting in the number of deals requiring a 40% deposit falling. Two years ago the number of prime residential mortgage products fell to an all time low of 1,097. Today, the number of mortgages available has more than doubled to 2,447. While the availability of mor... [more]
Rise in inflation is bad news for savers(25/01/2011)
To beat inflation, a basic rate tax payer at 20% now needs to find a savings account paying 4.63% pa, while a higher rate tax payer at 40% needs to find an account paying at least 6.17%. This is because according to the latest inflation figures, the Consumer Price Index has increased by 0.4% to 3.7% during December. The rise in inflation will hit those who rely on their savings to supplement their income the most, in particular pensioners. ... [more]
Annuity rates fell for the third consecutive year(18/01/2011)
The average rate for both males and females aged 65 purchasing a standard level without guarantee annuity (based on a £10K purchase price) has decreased by 2.7% in 2010. This may be a disappointing drop, but it is less severe than the cuts posted in 2009 when annuity rates endured a more painful reduction of 8.7%. Enhanced annuity rates experienced lower falls than their conventional counterparts, with the average male rate down by 2.1% and the a... [more]
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