Money Saving News for January 2009
- Car insurance crackdown welcomed - 21st January, 2009
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The decision to come down more heavily on drivers who do not have car insurance has been welcomed by one company operating in the sector... - Banker's association welcomes new government initiatives - 20th January, 2009
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The British Bankers' Association (BBA) has welcomed the economic initiatives announced yesterday by the government.
In a statement, the BBA, which claims to be "the voice of banking and financial services", said that global problems in the worldwide financial system had left UK banks struggling to maintain their own lending... - Abbey welcomes government initiatives - 20th January, 2009
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Abbey has welcomed the new package of financial measures announced by the government yesterday.
In a statement the bank said that the move, which is aimed at persuading lenders to approve more residential and buy to let mortgages, will help stabilise the UK's mortgage sector... - The Nottingham launches new savings account - 20th January, 2009
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The Nottingham has announced the launch of a new savings account aimed at those making their first property investments.
Paying an interest rate of 3.5 per cent on deposits over £5,000, the First Home Saver aims to help people take their first step on the property ladder by saving up for the deposit on their first house... - Cash-strapped Brits 'could save £20bn by consolidating debt' - 19th January, 2009
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Brits struggling with a large debt burden during the credit crunch could save a total of around £20 billion by consolidating what they owe, according to uSwitch.com.
The price comparison website calculates that the average household could save around £803 in interest over five years by consolidating all their unsecured debt such as loans and balance transfer credit card bills into one lower-cost form of credit, such as a cheap personal loan.
Louise Bond, personal finance manager at uSwitch.com, said: "Borrowers need to be aware that taking out a loan or credit cards to consolidate debts must be approached in a disciplined way and should not be treated as a quick-fix solution to debt problems."
However, she added that consolidation could give people the best chance of managing their debts during the credit crunch... - 'Blue Monday' leaves Brits depressed - 19th January, 2009
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The AA has revealed that today is meant to be the most depressing day of the year, thanks to a combination of factors.
'Blue Monday', as it is known, was first defined by Cliff Arnall, formerly of Cardiff University, who used an equation which takes into consideration the weather, debt, time since Christmas, time since failing our new year's resolutions, low motivational levels and the feeling of a need to take action... - Wanted: Female doctors aged 35-46, say landlords - 19th January, 2009
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UK landlords, many of whom have buy to let mortgages to pay off, have revealed that their ideal rent-paying tenant would be a female doctor between the ages of 35 and 46.
Halifax conducted a survey of UK landlords' preferences and found that over three-quarters said they would prefer to rent to a woman, while nearly one-quarter said their ideal tenant would be a GP... - Car insurance premiums on the rise, says AA - 16th January, 2009
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Car insurance premiums in the UK are rising, according to new data published by the AA today.
The association found that cheap car insurance premiums took "another sharp upward jump" in the last quarter of 2008, rising by an average of one per cent a month... - Business confidence hits 16-year low, survey says - 16th January, 2009
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Businesses in the UK are less confident than they have been at any time in the last sixteen years, according to a survey conducted by Lloyds TSB.
The bank found that the worsening economic climate of the past few months - which has made it increasingly hard to take out cheap loans and buy to let mortgages - has caused a 32 per cent slide in its business confidence index... - Co-operative Bank cuts savings rate, leaves mortgage rate - 16th January, 2009
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The Co-operative Bank has announced that it will cut the rate of interest it pays on its savings accounts by 0.25 per cent, following the Bank of England's base rate cut last week.
However the bank announced that it will not pass on the interest rate cut to its buy to let mortgage customers and that its standard variable rate (SVR) of interest will remain at 4.74 per cent...