Money Saving News for February 2009
- Chelsea Building Society launches new mortgage - 19th February, 2009
Chelsea Building Society has announced the launch of a new mortgage which it claims will give borrowers "peace of mind" because of its fixed rate of interest.
The new ten-year mortgage will charge interest at a rate of 5.1 per cent per year, a level that will be fixed until April 2019. After that the rate will revert to Chelsea Building Society's standard variable rate, which is currently 5.79 per cent... - Car insurance provider creates jobs - 19th February, 2009
A UK car insurance company has announced that its continuing expansion will create 500 new jobs in the near future.
Esure said that despite the current recession, its "rapid sustained growth" during 2008 means that it must now take on more staff to keep up with business expectations... - ACA: Pensions need not go to extremes - 18th February, 2009
The Association of Consulting Actuaries (ACA) has called on MPs and the government to rethink some of their pension proposals, following announcements by both the government and Theresa May, shadow leader of the Commons.
Ms May said that in the event of a conservative election victory, MPs will receive a defined contributions pension, but the ACA claimed this would place 100 per cent of the risk with the employee.
Equally, ACA claimed that defined benefits pensions place too much risk with the employer and urged both the government and the opposition to consider a middle way, for both MPs and public sector employees... - Alliance Trust: Pensioners face higher inflation rates - 18th February, 2009
Pensioners are being hit particularly hard by the credit crunch, according to the Alliance Trust, because they face a higher rate of inflation than the general population.
Official figures released recently put the headline rate of inflation at three per cent, but research by the Alliance Trust has revealed that over-75s face an inflation rate which is "far higher", at 5.4 per cent... - Nationwide wins credit card responsibility award - 18th February, 2009
Nationwide Building Society has won an award for its responsible credit card lending campaign, it has emerged.
The building society was given the prize for most responsible credit card lending practices at the Credit Card Awards in London in recognition of its Trust Us, Trust You campaign... - Brits paying "over the odds" for buildings cover - 17th February, 2009
Many people in the UK are paying "over the odds" for their buildings cover, according to research conducted by Confused.com.
The price comparison website found that nearly 30 per cent of UK customers think that the rebuild cost of their property is the same or more than its market value, leading Confused.com to claim that one in three Brits may be paying too much on their home insurance... - Scottish house price falls slow down - 17th February, 2009
The speed at which house prices in Scotland are falling has slowed down, according to Lloyds TSB, which could mean that the housing market is stabilising somewhat.
Lloyds TSB Scotland's quarterly house price index found that the price of the average domestic property north of the border fell by 2.3 per cent in the three months up to January 31st... - Lloyds TSB opens new ISA - 17th February, 2009
Lloyds TSB has announced the launch of a new individual savings account (ISA), which offers a fixed-rate of interest for 12 months.
The ISA will pay interest at a rate of 3.2 per cent and can be opened for a minimum deposit of £3,000... - Car insurance premiums falling, says survey - 17th February, 2009
A survey conducted by Sainsbury's Bank has revealed that UK car insurance premiums have fallen in recent months.
The poll shows that the average car insurance premium fell from £514.36 in June 2008 to £498.22 in December, a reduction of 3.1 per cent... - Citizens Advice to get extra funding - 17th February, 2009
Citizens Advice is to be given £10 million in extra funding in order to help it deal with the increased demand for debt counselling and unemployment advice caused by the recession.
The charity claims that it has seen a "large" increase in the number of enquiries linked to the economic downturn, handling 5.54 million requests for advice about issues such as mortgage arrears and benefits claims last year...