Money Saving News for July 2009
- 72% 'have no pension plans in place' - 27th July, 2009
New research has highlighted that almost three-quarters of Brits have no pension provision in place, putting millions at risk of struggling financially during retirement.
Statistics from Datamonitor highlight that 72 per cent of Britons are not putting cash aside for retirement, with 89 per cent of people aged between 18 and 24 having no pension provision... - LV= issues insurance warning to top-end car drivers - 27th July, 2009
Car insurance provider LV= has issued a warning to owners of high-end vehicles, stating that their cars may be at risk of being targeted by thieves.
A study by the firm highlights that due to increasingly advanced car security systems, car thieves are no longer being opportunist and are instead focusing their attention on high-end cars that offer higher value gains... - Ofwat calls for reduced utility bills - 24th July, 2009
The consumer watchdog for water utility bills has said that it wants to see the price of the service reduce from an average of £344 to £330 per year by 2015.
Currently, Ofwat has not been involved in the setting of prices for water and sewerage, but it wants to ensure that costs are regulated to avoid discrepancies between companies... - Lenders withdraw tracker mortgages - 24th July, 2009
The number of tracker mortgages available to those wishing to finance a new home or remortgage has declined in the past 12 months, according to a new report by moneysupermarket.com.
Research by the website shows that between July 20th 2008 and July 1st 2009 the total number of home mortgages on a tracker scheme dwindled 81 per cent from 1,937 to 266... - Banks more confident with savings accounts - 23rd July, 2009
New research has found that banks are rushing to offer more high interest savings accounts to those looking to get a good return on their deposited money.
Conducted by Defaqto, the report showed that several financial institutions have upped their game in the savings market, including Stroud and Swinton Building Society, which has put a market-leading 4.06 per cent e-bond on offer... - Fixed-rate mortgage interest 'will drop' - 23rd July, 2009
Borrowers' interest in picking up fixed-rate mortgages has hit its peak, according to one firm, and the number of customers looking to find such a deal will drop in the future.
Independent mortgage adviser John Charcol reckons that June, which saw 83.1 per cent of its clients choose a fixed-rate deal, taking the four-month average to 81.2 per cent, will be the last month to see a rise in take up of the loans... - Credit cards hoarded by Brits - 22nd July, 2009
British people are not getting rid of credit cards they are no longer using, according to a new report from financial advice website uSwitch.com.
The research claims that 16.3 million consumers in the UK currently have 38 million credit cards between them which they have stopped using but not cancelled, accounting for a collective credit limit of £200 billion... - High interest savings bonds announced by Barnsley BS - 22nd July, 2009
Those looking for high interest savings bonds to make the most of their money during the recession may be interested in a new range of products announced by Barnsley Building Society.
The savings account provider is introducing new three, four and five-year deals, which can be opened with a £100 deposit using the building society's online paperless application process... - Lenders no longer offering long-term fixed-rate mortgages - 22nd July, 2009
It is no longer possible for those looking for a secure fixed-rate mortgage to find a long-term deal, as a new report by financial website Moneyfacts has shown how lenders have gradually stopped offering the loans over the past year or so.
In January 2008, eight lenders including Halifax and Nationwide were offering 25-year fixed-rate mortgages, while this figure dropped to just three - Manchester and Scarborough building societies along with the Co-operative Bank - by the same time in 2009... - Higher interest for savings accounts in the UK - 21st July, 2009
After months of low interest for those with money stored away for a rainy day, savings accounts in the UK have now started to offer higher rates again, according to one industry figure.
Kevin Mountford, head of banking at financial advice website moneysupermarket.com, told MSN Money that increases in interest on fixed-rate savings accounts has now moved to easy access products, a positive for the market as a whole...