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- RBS, NatWest announce some rate reductions - 9th January, 2009
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The Royal Bank of Scotland (RBS) and NatWest, both of which are part of the same RBS banking group, have announced that they will pass on the benefits of yesterday's interest rate cut to some of their customers.
RBS said that the banks' small and medium-sized enterprise (SME) customers would automatically benefit from the full rate cuts on their loans and overdrafts, as would individuals with property investments on tracker mortgage packages... - Abbey waits to pass on cuts to mortgage holders - 9th January, 2009
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Abbey has announced that it will not cut the standard variable rate (SVR) of interest for its buy to let mortgage customers immediately, but hinted it may do so in due course.
Following the Bank of England's cut of 0.5 per cent in the base rate, several banks, including Lloyds TSB and HSBC, immediately lowered interest rates for their mortgage customers... - Savings rates will stay low next year, says analyst - 23rd December, 2008
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The rate of interest offered on savings accounts is likely to remain low next year, according to one analyst.
Laying out his predictions for 2009 Kevin Mountford, head of savings at moneysupermarket.com, said "a low base rate environment will mean less exciting headline rates on offer"
However, he added that the difference between the best interest rates on offer and the worst rates available is likely to remain significant... - NatWest 'leaves couple facing bankruptcy' - 22nd December, 2008
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A married couple have been left facing bankruptcy after NatWest suddenly withdrew their mortgage, according to the consumer website Which?.
The watchdog site said that Marian and Peter Addyman, of St Leonards on Sea, East Sussex, had their £226,000 mortgage withdrawn in September, despite the fact that it had been granted just seven months before and the couple claims never to have missed a payment.
Citizens Advice, Which? and even the Addyman's MP Michael Foster have all taken up the couple’s case with the bank, but NatWest has so far refused to offer an explanation for its actions... - Homes not 'safe as houses' - 16th December, 2008
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Many UK homes are not as safe as their owners believe them to be, according to research published by cheap insurance provider Legal & General.
The survey conducted by the insurer found that while many UK homes had safety features such as smoke alarms, window locks and heavy duty door locks fitted, many homeowners were not doing enough to maintain these features.
Over one-third of those surveyed said they are putting off home repairs and although 40 per cent of respondents said they had an intruder alarm fitted, under half of them had checked if it worked... - Norwich Union issues festive crime warning - 9th December, 2008
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Norwich Union has issued a warning to its customers to check their insurance after research by the insurer found that the festive time of year is the worst for burglaries.
According to Norwich Union's data, New Year's Eve is the worst day of the year for break-ins, with houses 25 per cent more likely to be burgled than on any other day... - HSBC announces rate cuts - 5th December, 2008
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HSBC has announced that it will cut interest rates for personal and business customers following the Bank of England's base rate cut yesterday.
The bank also announced that its tracker mortgages will pass on the full interest rate cuts, a move which could save clients with buy to let mortgages significant amounts of money... - Nationwide scraps tracker mortgage 'floor' - 5th December, 2008
Nationwide Building Society announced today that it will not enforce the interest rate 'floor' on its tracker mortgage, meaning customers with buy to let mortgages could benefit from the full one per cent cut in the base rate of interest....
- BBA welcomes statutory code for banks - 4th December, 2008
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The British Banking Association (BBA) has welcomed a move by the government to make the voluntary code of conduct for banks legally binding.
As a representative body for the banking the industry, the BBA said it had been involved in months of discussions with the government and the Financial Services Authority (FSA) over the changes... - Government working for homeowners, say estate agents - 4th December, 2008
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An independent association of estate agents has welcomed yesterday's housing announcements by the Gordon Brown, saying they will be help protect those with property investments.
A spokesperson for the National Association of Estate Agents (NAEA) said: "The prime minister's decision to underwrite mortgage repayments for the thousands of homeowners currently facing repossession is extremely welcome at what is a difficult time for many."
The NAEA spokesman added that the move would be strengthened by the fact that eight major mortgage lenders - including HBOS, Abbey and Nationwide - have been persuaded to go along with the government's plans.
Gordon Brown's new plan means that homeowners who suffer from a sudden drop in income - if they lose their job for example - will be able to defer all or part of the interest on their mortgage repayments for up to two years...