Money Saving News for May 2009
- 'Fronting is fraud' on home contents insurance policies - 15th May, 2009
Financial advice website Confused.com has warned against the practice of 'fronting' on home contents insurance policies, saying it can amount to fraud.
Fronting involves putting an incorrect name on a home insurance policy, a practice adopted by some fraudsters to enable them to get cheaper home insurance premiums... - Barclaycard announces reduced balance transfer credit card fees - 15th May, 2009
Barclaycard has announced that it will reduce the fees charged on some of its balance transfer credit cards.
Balance transfer credit cards from Barclaycard may be set to get cheaper, as the provider has announced that it is reducing the fees charged on certain transactions with immediate effect... - Alliance & Leicester launches new fixed-rate mortgage - 15th May, 2009
A new fixed-rate mortgage deal aimed at first-time buyers has been launched onto the market, courtesy of Alliance & Leicester.
The mortgage lender said that the new three-year, fixed-rate mortgage will offer an interest rate of 5.99 per cent. In addition, first-time buyers will not be charged an arrangement fee and will benefit from a free valuation... - Mortgage company increases LTV ratios - 15th May, 2009
One of the leading fixed-rate mortgage providers in the UK has announced that its mortgage customers will benefit from an increased loan to value (LTV) ratio.
Abbey said that the two, three and five-year fixed-rate mortgages that were previously available at 60 per cent LTV will now be made available to customers at 70 per cent LTV, which the bank claims will make them more accessible to borrowers... - Fixed-rate bond market taking off, says expert - 14th May, 2009
Fixed-rate bonds are currently taking off as an alternative to savings accounts in the UK accordeing to one financial expert, who has claimed that now may be a good time to invest in them.
Kevin Mountford, head of banking at moneysupermarket.com, said that in the past week alone, several leading banks and building societies, including Barclays, Abbey and the Coventry, have launched fixed-rate bonds... - Bike theft may increase, warns home contents insurance provider - 14th May, 2009
Home contents insurance provider Halifax has warned that the number of bicycles being stolen in the UK may increase....
- ISA savings account 'pays 8 times base rate' - 14th May, 2009
The best buy ISA savings account from Leeds Building Society currently pays a rate of interest eight times higher than the Bank of England's base rate, the financial services provider has announced.
According to the building society, its five-year fixed-rate ISA savings account, which pays interest at a rate of four per cent, is a market leading product... - There's no place like gnome, warns home contents insurer - 14th May, 2009
More Than has issued a warning to those who home owners who keep gnomes in their garden to see if these and other items are covered by their contents insurance policy, as they may be stolen.
The home contents insurance provider said that items such as gnomes, state-of-the-art barbeques and garden furniture can all be worth "a hefty amount", so homeowners should make sure they are covered... - Home contents insurance offer from Barclays announced - 14th May, 2009
Cheap home insurance from Barclays looks set to get even cheaper, following the announcement of a reduction in the bank's prices across the board.
The insurer said that the price of its home contents insurance premiums would be cut in half, meaning that a family living in Chelmsford could get cover themselves for up to £50,000 worth of damage for £5.66 a month... - Home insurance claims 'rise with kitchen clumsiness' - 13th May, 2009
Home contents insurance claims for culinary catastrophes are becoming more frequent during the recession thanks to the growing trend for eating at home, according to AA Insurance.
The cheap home insurance provider conducted a survey which revealed that 46 per cent of people in the UK are now more likely to cook for themselves rather than eating out as a way of saving money. This trend has been encouraged by TV cookery programmes...