Money Saving News for August 2009
- Mortgage lender sees tracker rise in popularity - 7th August, 2009
Research by one mortgage lender has shown that more homeowners seeking a better deal on their loan are looking at tracker options over those with fixed rates.
Mortgageforce analysed the number of home loan applications submitted by its customers in the month of July and found that 37 per cent had chosen a tracker deal, compared to 25 per cent in June... - Small print 'could contain hidden credit card charges' - 6th August, 2009
Brits receiving letters from their credit card providers about alterations to the terms and conditions of their product should make sure that they do not include changes to how they pay back the firms.
James Coney, an expert writing for the Daily Mail, said that American Express is the latest in a long line of companies which have changed how repayments are made, including Goldfish, Sky and Nationwide... - Nationwide launches high interest savings account - 6th August, 2009
Those looking for a consistently high interest rate on their savings account may be interested in a new product from Nationwide.
Aiming to beat competition, the savings account comes with a rate which is automatically adjusted every month based on what the building society's rivals are offering, in order that customers receive market-leading interest levels... - Nationwide 'will encourage others' to cut home mortgage rates - 5th August, 2009
A recent announcement by home mortgage lender Nationwide Building Society, stating that interest rates on many of its products would be reduced, will lead to others following suit, one expert claims.
Phil Perry, director at advisory firm Ark Financial Planning, said that Nationwide has opened the floodgate for more mortgage lenders to cut their rates on fixed-rate and tracker deals... - Disposable income increases for home mortgage holders - 4th August, 2009
Those with a home mortgage can expect to receive a higher level of disposable income now than they did last year, a new report suggests.
Conducted by Halifax, the research claims that those with a mortgage have over a tenth (11 per cent) more money to spend after tax and necessary purchases this year, compared to 2008... - Potential debt victims 'should seek advice' - 3rd August, 2009
Those who think their personal loan or credit card debts could spiral out of control should seek advice at the earliest opportunity, according to one charity.
The Money Advice Trust (MAT), which offers financial advice to households dealing with debt, said that debt is on the rise due to the recession and many people will find their income less secure than it used to be... - 'Choose quality over cheap car insurance' - 3rd August, 2009
While many drivers will be looking to cut back on their spending during the recession, the British Insurance Brokers' Association (BIBA) has warned that consumers should be looking for quality over cheap car insurance.
Those concerned about the rising prices of car insurance in recent months may be tempted to turn to the internet to find the cheapest deals they can, but the organisation urged drivers to make sure they are fully covered...