DEBT & FINANCE NEWS
Lenders implement interest rate cuts
18 Nov 2008 at 1:04pm
The recent interest rate cut has prompted 24 savings providers to cut their rates, with 14 implementing a reduction of between 1.5 and 2.55 per cent, Uswitch.com has found.
Lloyds TSB, Capital One Savings and Irish Nationwide are among the lenders who have reduced their rates, which is likely to ...
Men ?bigger spenders? than women
18 Nov 2008 at 1:02pm
Men are likely to spend more than women when shopping, according to one personal finance website.
David Kuo of Fool.co.uk stated that although men shop less frequently than their female counterparts, they are more likely to pay over the odds for a product as they are not as good as spotting barga...
Cancelling pension contributions should be a ?last resort?
18 Nov 2008 at 1:02pm
Action needs to be taken to discourage people from cancelling pension contributions during the current financial crisis, Axa has stated.
According to research by the financial company, 1.5 million people are considering such a move to free up extra finance, with 53 per cent stating they are plann...
Which? welcomes PPI rulings
18 Nov 2008 at 1:02pm
New rules regarding the sale of payment protection insurance (PPI) are likely to benefit consumers, Which? has stated.
Personal finance campaigner at the consumer rights body Lucy Widenka described the ruling - which prevents PPI being sold to a customer within 14 days of them taking out a financ...
Mortgage customers ?may need equity? to get good deal
17 Nov 2008 at 3:28pm
Homeowners who want to secure a competitive rate for their next mortgage may need to “introduce equity” in order to do so, it has been suggested.
According to Al Elliot of the Homeowners Advice Centre, those whose current mortgage deal is coming to an end have two options available to them.
“[Bor...
PPI investigation welcomed by price comparison site
17 Nov 2008 at 3:25pm
The Competition Commission’s recent investigation into payment protection insurance (PPI) has been welcomed by one price comparison website.
Editor of moneysupermarket.com Clare Francis approved of the crackdown on the issue by the commission, which has recommended banks should be banned from sel...
Women ?worry more? about finances
17 Nov 2008 at 12:30pm
Women are worrying more than men about financial issues, a new study has found.
Research from health insurance firm Bupa has revealed females are becoming more stressed over the issue than their male counterparts, with six out of every ten stating the credit crunch has left them worrying about th...
Repossession ?serves nobody?s interest?
16 Nov 2008 at 12:29pm
Mortgage lenders should offer more support to homeowners who are struggling to meet their mortgage repayments, it has been claimed.
According to advisor at the Homeowners Advice Centre Al Elliot, lenders should offer reduced repayment plans instead of considering repossession, as “the last thing ...
Debt charity issues budgeting advice
15 Nov 2008 at 11:54am
People need to improve their budgeting to avoid getting into financial difficulty, a money education charity has stated.
According to Frances Walker of Credit Action, drawing up a budget - using methods such as a weekly money diary - is the best way of making your money “work harder”.
She advised...
Borrowers should ?shop around? for best mortgage deal
14 Nov 2008 at 11:56am
Borrowers whose current mortgage deal is coming to an end have been urged to remain patient in order to find the best new deal.
Head of mortgages at moneysupermarket.com Louise Cuming issued the advice following last week’s interest rate cut, which has resulted in many lenders issuing new mortgag...
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