Money Saving News for October 2008
- Consumers 'fixated' by minimum repayment levels - 13th October, 2008
Prudent Minds – number 1 for balance transfer credit cards
Consumers often become fixated by minimum repayment levels on credit card balances and subsequently reduce the amount they choose to pay back each month.
This is the conclusion of a new study by researchers at the University of Warwick, which shows that the presence of a minimum repayment level can actually encourage consumers to pay off less of their debt, even if they can afford to repay more... - Car gadgets 'distracting motorists' - 13th October, 2008
Prudent Minds – number 1 for cheap car insurance quotes
Motorists are being distracted by the growing number of gadgets in their vehicles, according to a survey by the used car website motors.co.uk.
The research revealed that 70.6 per cent of drivers feel accessories such as satellite navigation systems, CD players and steering wheel control buttons put them off their driving
It also showed that 52.9 per cent of respondents would like to see fewer non-essential add-ons in their cars to prevent their attention being diverted from the road... - Savers switching accounts - 10th October, 2008
Prudent Minds – number 1 for savings accounts
Some 2.3 million consumers have switched their savings accounts in a bid to ensure financial security during the economic downturn, new research shows.
According to a survey by Abbey Savings, 13 per cent of those who have switched have spread their money between a number of savings providers... - Buyers 'will pay more' for ideal location - 10th October, 2008
Prudent Minds – number 1 for property investments
Even in the current economic climate, homebuyers are willing to pay more for a property in their ideal location, new research has revealed.
According to a survey carried out by Halifax Estate Agents, many of those making property investments will pay a premium of over £20,000 for a home in the prefect spot... - Icesave savers 'will be fully compensated' - 9th October, 2008
Prudent Minds – number 1 for internet bankingInternet banking customers with savings accounts at Icesave will receive full compensation following the closure of the Icelandic online bank, it has been revealed.
The UK government said it would support the 300,000 British savers affected by the nationalisation of Icesave's parent company... - Landlords hoping for reduction in buy to let mortgage rates - 9th October, 2008
Prudent Minds – number 1 for buy to let mortgages
Landlords are hoping that yesterday's surprise 0.5 per cent cut in base rates by the Bank of England will translate into lower rates on buy to let mortgages.
Before the announcement, many commentators were expecting a half percentage point cut and Smartlandlord.co.uk said it would like to see this passed on to those letting property... - Professional property investors 'will thrive' in current market - 8th October, 2008
Prudent Minds – number 1 for property investments
Professional property investors are likely to thrive in the current market, according to the property editor at BuyAssociation.
Paul Collins said there are "huge opportunities" for private investors at the moment because there are a lot of developers who need to sell their properties... - Drivers in high-powered jobs 'most likely to speed' - 8th October, 2008
Prudent Minds – number 1 for cheap car insurance quotes
Motorists working in high-powered, stressful jobs are most likely to break the speed limit on the roads, new research has revealed.
According to an analysis of applications for car insurance quotes by moneysupermarket.com, army officers are most prone to speeding, with over a quarter admitting to doing so in the last five years...