Money Saving News for January 2009
- Nationwide: Government is discouraging savers - 15th January, 2009
Research conducted by Nationwide concludes that Brits think the government's economic policies are discouraging them from saving....
- Brits believe now is a bad time to save - 15th January, 2009
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Many Brits think that the current economic climate is not conducive to saving, according to new research released by Nationwide Building Society.
The company found that 23 per cent of those surveyed believe that now is a good time to put money away in savings accounts, but 47 per cent of respondents disagree, claiming that now is a bad time to save... - Lloyds TSB welcomes government scheme for business - 15th January, 2009
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Lloyds TSB has welcomed the government's decision to make £20 billion worth of funding available as guarantees for cheap loans to small and medium-sized businesses.
The scheme, announced yesterday by business secretary Peter Mandelson, will see the government acting as a guarantor for half of all cheap loans made by banks to small and medium-sized enterprises in the UK... - Poll says public against rate cuts - 14th January, 2009
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A poll conducted by a price comparison website has found that the majority of people in the UK are not pleased with the Bank of England's reduction of the interest rate last week.
Moneysupermarket.com surveyed 16,857 users of its site and found that more than two-thirds of them were not in favour of the cut of 0.5 per cent.
Louise Cumming, head of mortgages for the price comparison site, said that the rate cuts would not encourage mortgage-lenders to lend more and said that people needed to be persuaded to save... - Credit crunch mean people putting off retirement - 14th January, 2009
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The credit crunch is pushing many people in the UK to put off their retirement, according to research conducted by a cheap life insurance provider.
Life Trust, which also gives pensions advice, found that one-quarter of working adults in the UK are considering putting off their retirement as the credit crunch causes the value of their savings and property investments to fall... - Allianz voted insurer of the year - 14th January, 2009
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Allianz, a cheap car insurance and life insurance provider, has been voted insurer of the year by an independent association of insurance intermediaries.
The insurer beat off stiff competition to take the Coversure Insurance Services top annual award, which is voted for by franchise holders and product managers... - Unemployment on the rise throughout developed countries - 13th January, 2009
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Statistics released yesterday have shown that unemployment is on the rise in many of the world's major economies as the global economic crisis pushes them into recession.
As the risk of job losses rises across the developed world, cheap life insurance providers are recommending that consumers take out income protection cover... - M&S Money announces ISA rate reduction - 13th January, 2009
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M&S Money, the financial services division of the Marks & Spencer group, has announced that it has cut the rate of interest it offers to its cash individual savings account (ISA) customers.
The bank said it had cut its rate by 0.5 per cent since December and guaranteed that the interest paid on its cash ISAs will at least match the Bank of England's base rate until January 1st 2010.
M&S Money also announced that it offers fixed-rate savings accounts paying up to 3.25 per cent interest for periods of one, two or three years... - Co-operative Bank launches new mortgage - 13th January, 2009
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Customers looking for buy to let mortgages may be pleased to know that another option has emerged onto the market, provided by the Co-operative Bank.
The bank's new offering charges a fixed interest rate of 4.49 per cent for the five-year term and will be made available to the public from January 14th.
Co-operative Bank's new mortgage, which could be useful for those seeking to make property investments, charges an application fee of £1,495 but offers free standard legal and basic valuations for remortgages... - LV= makes it 'easier' to claim on unemployment insurance - 12th January, 2009
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LV= has announced its cheap insurance customers will be able to claim more easily if they lose their jobs, as the insurer has removed one of its conditions from its Lifestyle and Mortgage Policy.
The insurer has said that it would remove the 60-day initial period during which policy-holders are not allowed to claim unemployment cover for those who switch to the policy...