Money Saving News for July 2009
- Cheapest home mortgage deals in northern seaside towns - 6th July, 2009
A new survey has found that those looking to take advantage of cheap house prices in UK seaside towns in order to lower their mortgage costs should look towards those in the north of the country.
Conducted by home mortgage lender Halifax, the survey of the house market showed that the cheapest properties could be found in the Cumbrian town of Whitehaven, nearby Maryport and Withernsea in East Yorkshire... - Market-leading online savings account from Alliance and Leicester - 3rd July, 2009
Alliance and Leicester has introduced a new online savings account in competition with other banks releasing attractive products onto the market.
The new package offers interest of 3.15 per cent, which is accompanied by a sliding bonus rate depending on the amount deposited in the online savings account, available until August 2010... - Women offered cheaper auto insurance - 3rd July, 2009
A new survey has revealed that female drivers are paying less for their auto insurance policies than men.
Looking at six million quotes given to customers through 2008, moneysupermarket.com found that the average cost of an auto insurance policy for men was £743 a year, while women paid £454 for 12 months' cover... - Children's Mutual savings accounts hit 4.4 million - 2nd July, 2009
The number of parents investing into the offspring's future through the government's Child Trust Fund savings account scheme through provider Children's Mutual has reached 4.4 million.
Speaking about the figure, David White, chief executive of the organisation, said that it was a sign of the "continuing revolution" of using tax-efficient saving accounts in the UK to help young people financially... - Credit card companies 'give unwanted money' - 2nd July, 2009
Credit card companies are loosening the limits placed on their products in order to extract more money from consumers through interest, according to one website.
New uSwitch.com research has found that credit card owners saw their limits rise by an average of £1,538 in the past 12 months, despite not requesting that more allowance to be given to them... - 'Switch autoinsurance' for cheaper deal - 2nd July, 2009
Financial search engine Tescocompare.com has urged those who have not changed their auto insurance policy in recent times to do so in order to take advantage of the savings available.
In a new report, the website found that, although the average driver changes their vehicle nine times in their life, they are reluctant to switch their auto insurance despite the money it could save... - Mortgage lender offers capped tracker - 2nd July, 2009
One mortgage lender is giving a helping hand to those unwilling to lock into a fixed-rate deal by introducing a tracker product which is capped until 2012.
As part of first direct's Summer Sale, the tracker mortgage, which currently offers an interest rate of 2.98 per cent, will not rise above 4.99 per cent for the next three years in spite of any base rate movement which may occur... - High interest savings bond is 'not what it seems' - 1st July, 2009
Customers interested in opening one of the new high interest savings bonds launched by male grooming firm King of Shaves have been warned against the product by moneysupermarket.com.
The financial advice site said that, while the quirkily-named Shavings Bond offers high interest rates of six per cent AER, it is not guaranteed under the Financial Services Compensation Scheme... - One-off contributions for Child Trust Funds on the up - 1st July, 2009
Parents putting money away as an investment into their offspring's future are increasing the amount they deposit into the government's Child Trust Fund scheme.
According to a new survey by the Tax Incentivised Savings Association (TISA), which questioned 64 per cent of all Child Trust Fund users, the average one-off lump sum deposited rose to £525 in the last three months, from £516 in the previous quarter... - Santander launches business banking - 1st July, 2009
Alliance & Leicester and Abbey are today (July 1st) merging under the business banking brand Santander.
The firms' 20 regional branches will be rebranded under the move, which sees both companies, along with Bradford & Bingley Savings, join their expertise to provide services in the business banking sector...