Banking News
Moneyfacts.co.uk base rate trends one week on
Mortgages - One week on from the latest base rate increase and only 31 lenders have announced changes to their SVRs. That’s 24% of the market.
A&L expands business centre operations in Yorkshire and North East
Alliance & Leicester Commercial Bank today announces the expansion of its business centre operations in Yorkshire and the North East due to increasing demand for the bank’s products and services, creating new jobs in the region.
Tesco extends euro cash machine trial
Tesco Personal Finance is extending its trial of Euro ATMs in time for the summer holidays.
Social Justice report confuses regulation further, says BBA
The Social Justice Policy Group proposal to replace the Banking Code with more regulation would not provide any additional help to over-indebted borrowers, the British Bankers Association said today in response to the Conservative Party’s Breakthrough Britain Report.
Nationwide to increase savings and mortgage rates
Nationwide Building Society today announces that it will increase savings rates and its Base Mortgage Rate (BMR) from 1 August 2007. This follows the decision by the Bank of England’s Monetary Policy Committee on Thursday 5 July to increase the Base Rate by 0.25%.
Financial inclusion continues
There are well over 6 million ‘basic functionality’ accounts being used by UK customers, according to figures from the British Bankers’ Association (BBA).
An education in finance
Financial planning is essential for students and graduates, says Moneyextra.com.
Value-for-money is the key to Best Buys
Commenting on the launch of defaqto’s new quality comparison tool for financial products, Editor-in-Chief of EveryInvestor Chris Gilchrist says: “Consumers know perfectly well that getting good value for money depends on looking at the quality of the product as well as the price.
Barclays launches Non-Resident Indian banking
Barclays has launched a suite of specially designed products for Non-Resident Indian (NRI) customers, becoming the first bank in the UK to offer these accounts directly through its branch network.
Lost accounts first from Halifax
Halifax has become the first UK bank to sign up with the Unclaimed Assets Register (UAR), which is operated by Experian.
NatWest helps UK businesses get off the ground with start up offers
From 9th July NatWest will be the only high street bank to offer small business start ups an unprecedented 2 years free banking, supported by free face to face advice from a network of over 1,700 locally based business managers.
Interest rate hike will leave homeowners £677 each out of pocket
Homeowners are now facing the cost of a triple whammy of base rate woes. News of a third increase (of 0.25% to 5.75%) will stretch purse strings even tighter -
Bank of England raises interest rates to 5.75%
The Bank of England’s Monetary Policy Committee today voted to raise interest rates by 0.25 percentage points to 5.75%.
Lloyds TSB increases foreign usage charge
Michelle Slade, Analyst at Moneyfacts.co.uk, comments: “Lloyds TSB has announced that it will be increasing the foreign usage fee on its debit card, not the news that their customers preparing for their summer holidays will want to hear.
Britannia comment on Deloitte research
Neville Richardson, Britannia Group Chief Executive comments on Deloitte’s research findings showing that customers prefer High Street branches.