Money Saving News for March 2009
- The Nottingham launches savings account in the UK - 9th March, 2009
The Nottingham Building Society has announced the launch of a new savings account in the UK which is aimed specifically at children.
Catering for the needs of children under the age of 16 years, the new savings account will offer a guaranteed rate of interest of five per cent until 2010.
The Child Regular Saver, as the new account is called, will enable parents, grandparents and relatives to make regular contributions of up to £100 every month and as many withdrawals as they like without incurring any penalty... - Mortgage rates for trackers 'could now be 90% lower' - 6th March, 2009
Homeowners who have a tracker deal with their mortgage lender could have seen around 90 per cent shaved off their monthly payments in recent months, an independent advisor has claimed.
Ray Boulger of John Charcol has got his mortgage calculator out and revealed that in just six months the 3.5 million people in the UK with a tracker mortgage will have seen their rates fall by 4.5 per cent - effectively wiping 90 per cent of an interest-only mortgage... - State pensions countdown begins, says Friends Provident - 6th March, 2009
Friends Provident has warned workers that they only have 30 days to top up their state pension before government changes take effect.
The company said that there is now just a month left for people to buy missing National Insurance (NI) contributions before the state increases the cost of doing so by almost half... - Yorkshire aims to protect savings accounts in the UK - 6th March, 2009
Yorkshire Building Society has promised to protect savings accounts in the UK from the worse effects of interest rate cuts.
The institution said it was "disappointed" by the Bank of England's decision to reduce the base rate of interest from one per cent to 0.5 per cent, but pledged that it would not pass the cut on in full... - Mortgage rates set to be cut again after Bank of England decision - 5th March, 2009
Borrowers with tracker and adjustable mortgage rates will benefit from today's decision to reduce the base rate of interest by 0.5 percentage points.
However, those with a fixed rate mortgage will see no benefit whatsoever from the decision... - Lloyds TSB mortgage rates to follow base rate - 5th March, 2009
Home mortgage customers of lender Lloyds TSB may be glad to hear that it will pass on any interest rate cut to its standard variable rate (SVR).
Cheltenham and Gloucester and Lloyds TSB's current SVR is at three per cent - with the base rate at one per cent - and the group has announced it will fully pass down any reduction by the Bank of England today... - Co-operative: More than 1 in 10 to shun UK ISAs - 5th March, 2009
New research has found that 13 per cent more people will forgo their ISA savings accounts allowance compared to last year.
Statistics from The Co-operative highlight the impact of the recession on savers with the company's annual ISA intentions report showing that almost three-quarters (73 per cent) of those yet to invest in an ISA during the current tax year not planning to do so before April 5th... - Abbey beats other credit card issuers, says moneysupermarket.com - 5th March, 2009
Other credit card issuers have once again been beaten by Abbey and its new offering, according to moneysupermarket.com.
The website says that Abbey has pulled out another winner with its latest credit card offering, hot on the heels of its innovative Abbey Zero card... - Stocks and shares ISAs 'offer more reward and risk' - 5th March, 2009
Stocks and shares ISAs come with more risks attached but potentially offer greater rewards, according to a financial planner.
Sharon Bratley, chartered financial planner at Fairinvestment.co.uk, says that with interest rates at an all-time low, people are realising that in order to get a similar level of growth from their investments, they have to be prepared to take a risk... - AA warns about the future of cheap car insurance - 4th March, 2009
Applying age equality practices to motor car insurance could see premiums increase for the majority of people, according to Simon Douglas, director of AA Insurance.
The insurance expert claims that ending age discrimination will see premiums reduce at both ends of the age spectrum...