Money Saving News for February 2010
- Balance transfer credit card customers at risk from fraudsters - 12th February, 2010
Balance transfer credit card holders have been warned that fraudsters have found a way to exploit major flaws in the chip and pin system using stolen cards.
Researchers at Cambridge University have claimed that the fraudsters are placing a "wedge" into the terminal to convince it into believing that the correct security numbers have been entered into the system... - Policy Exchange's loan information report tells parents to provide collateral for student loans - 11th February, 2010
A report regarding university funding has concluded that middle-class parents should be forced to put up their houses as collateral against their children's student loans.
Policy Exchange, the think-tank which released the loan information advice, has also suggested an interest-charging private loans scheme for wealthy students which would be repaid once they left higher education... - Rowanmoor launches new online service for its SIPP pensions - 11th February, 2010
The UK's largest small self-administered scheme has launched an online demonstration system for SippView, its web-based service for its SIPP pensions, FTAdviser.com reports.
Rowanmoor Pensions has created an online resource which enables clients and advisers to view information about their SIPP pensions, such as valuations and fees... - Daily Mail loan information numbers show expense of short-term deals - 10th February, 2010
An investigation by the Daily Mail has discovered that state-supported banks are charging more for short-term borrowing than back-street lenders and payday loan companies.
The newspaper's loan information figures revealed that a consumer who exceeds their overdraft for ten days prior to being paid could face fees and interest equivalent to more than 3,000 per cent a year... - Bank of England loan information numbers show tracker mortgages have reached a record low - 10th February, 2010
New loan information figures have revealed that tracker mortgage rates fell to a record low figure last month as competition continued to return to the mortgage market.
A report found that the average interest rate charged on one of the mortgage deals sunk from 3.92 per cent to 3.63 per cent, the lowest level since Bank of England began recording the figures 13 years ago... - Moneyfacts.com reveals that personal pension plan returns have decreased by 60 per cent - 9th February, 2010
A financial advice website has stated that the average personal pension plan return has fallen by 60 per cent in the last ten years.
Moneyfacts.com has attributed the trend to falling stockmarkets and annuity rates... - LV= offers Britons protected retirement plan with advantages of an SIPP pension - 9th February, 2010
A leading insurance provider has unveiled a so-called protected retirement plan (PRP) with the full investment options available under a SIPP pension.
LV= said that it's first fixed-term retirement product has been created to offer consumers breathing space in the initial stage of their retirement... - Moneysavingexpert.com reveals rise in balance transfer credit cards - 8th February, 2010
The number of interest-free balance transfer credit card deals has increased as more banks offer to clear debt at cheap rates, according to moneysavingexpert.com.
The website has listed seven cards with a 15-month or more zero per cent period, while there was only one such card available this time last year... - Loan information firm Which? backs lenders in policy debate - 8th February, 2010
A company which offers loan information has claimed that the current application process is unfair to lenders, the Times reports.
It has been revealed that the details of millions of mortgages, bank accounts and credit cards taken out before the millennium do not appear on credit reports and, consequently, consumers with bad credit records are still able to acquire a loan... - Britons with central heating cover left waiting for Warm Front boiler replacements - 5th February, 2010
The Chartered Institute of Plumbing and Heating Engineering has expressed worries about the long waiting lists for Warm Front-funded boiler replacements.
Despite having central heating cover in place, some insurance customers are being left to wait for a replacement boiler for as long as 80 days, a new report has revealed...