UK banks giving savers better value but still ‘room for improvement’, FCA says Banking The City regulator has said savers are an estimated £4bn better off following improvements to easy access rates in recent months, but still put pressure on banks to offer more value.
ISA season breaks new record despite UK outflows revealing ‘structural problem’ Investing Charles Hall, head of research at Peel Hunt, warned that the data showed "exactly why the UK market has a structural problem".
Nationwide wins current account switching battle with record 163,000 customers after £200 offer Banking Nationwide stormed ahead of its rivals by setting a record for UK current account switches in the final three months of last year, according to new data, as intense competition for deposits among lenders continues into 2024.
Will UK mortgage rates rise even more if US inflation stays hot? April 13, 2024 London markets have been spooked by worse-than-expected economic data across the pond that has raised uncertainty over when central banks will start lowering interest rates. So what does this mean for mortgages?
Lenders expect higher default rates on mortgages and credit cards in coming months April 11, 2024 British lenders are seeing increasing demand for mortgages and credit card lending but higher default rates, according to an official survey, as households and businesses struggle with elevated borrowing costs.
Should you buy NS&I’s British Savings Bonds or Premium Bonds? April 6, 2024 As the government launches its much-touted British Savings Bonds, City A.M. asks whether the product is worth investing in over Premium Bonds.
UK credit card debt jumps as household finances squeezed in warning sign for the economy March 18, 2024 Outstanding debt on UK credit cards jumped nearly 10 per cent last year, according to new data, as households turned to borrowing amid inflationary pressures and the cost-of-living crisis.
Remortgaging rates tick up as lenders bet on ‘captive audience of existing customers’ February 7, 2024 Mortgage lenders are increasingly raising rates on their home loan products amid uncertainty over the UK economy.
Savings rates have biggest monthly drop since 2009 as banks bet on rebound January 22, 2024 Fixed savings rates have clocked their biggest monthly drop in nearly 15 years, new figures show, as banks slash deals to compete for business and stay optimistic on an economic rebound this year. The average one-year fixed bond fell for a third consecutive month to 4.87 per cent in January – the first time it [...]
Are you one of the Brits missing out on £6.9bn of savings interest? January 16, 2024 Britons lost out on an estimated £6.9bn in interest from savings accounts last year, new research shows, as personal finance experts urge consumers to be more proactive.