Savings News
Brits dip into savings as inflation continues to bite
A poll on moneysupermarket.com, shows that consumers are having to dip into their savings pots as the UK continues to feel the pinch because of high inflation.
Get top marks for student savings this year
As the dust settles on this summer's batch of A-Level results, those students lucky enough to obtain university places will no doubt have concerns over financing their studies and lifestyle. moneysupermarket.com urges parents and students to be savvy with their money when considering motor and home contents insurance options.
Kids support recession hit parents
Almost one in ten (8% with living parents/grandparents) adults have given or leant an average of £8,250 to their parents, according to the fourth annual Scottish Widows Savings and Investment Report.
Bank base rate increase the only trigger to beat inflation
Inflation figures released today show that the Consumer Price Index (CPI) has fallen to 3.10%, a marginal fall of 0.10% from the previous month but still way above the Government's 2% target.
Skipton launches new notice accounts and ISAs
Skipton Building Society has announced a refresh of its savings products. The introduction of new notice accounts and ISAs, and the removal of a number of old products will make it easier for customers to find the products best suited for their financial needs, whilst offering long term value.
Savings levels at two-year high
Britons are saving more of their monthly income than at any other time over the past two years. The latest NS&I Savings Survey shows that although the economic environment remains challenging, the proportion of income that people are setting aside (6.90%) has returned to levels not seen since before the start of the economic downturn.
Savers ditch cash for higher risk investments
69% of savers have had enough of poor savings rates saying they will invest in riskier assets going forward.
Brits sitting on a fortune
Brits are not looking after the pennies when it comes to making the most of loose change, according to research from Halifax. Two thirds of Brits (65%) regularly find loose change in a variety of places which could be put to better use.
High five for The Tipton
The Tipton and Coseley Building Society has reported net savings receipts in July totalled over £5m, the highest monthly inflow since October 2008 and the second highest in their 109-year history.
ISA savers drawn away from cash to equities
Following the Monetary Policy Committee's (MPC) decision to hold the Bank of England base rate at 0.5%, Chris Linpow, investment specialist at NFU Mutual, explains why savers are giving alternatives to cash ISAs some serious consideration.
Pessimism creeping up for savers
Consumers are becoming increasingly pessimistic about their future ability to save. This is according to new research from Nationwide Building Society, which shows that - in the second quarter of 2010 (Q2 2010) - 21% of consumers believed they will save less in six months' time than they currently do.
Base rate predicted to hold at 0.5% until 2014
The base rate has been stuck at 0.5% since March 2009, and experts are warning that it will have to stay on hold until at least the start of 2014 if the UK economy has any chance of recovery.
New retirement playing field could cost savers
The Government's consultation process looking at scrapping the Default Retirement Age (DRA) for the UK workforce provides a welcome reminder for savers in the UK to start planning ahead for their financial future or face working into their seventies.
Santander rewards customers with Loyalty Tracker Bond
Santander can confirm the launch on the 2nd August 2010 of a new competitive product, Loyalty Tracker Bond (issue 1), paying 3.00 per cent gross AER and tracking 2.50% above the Bank of England base rate until 1 September 2011, available for customers that have their main current account, mortgage or investment account with Santander or open a new current account and switch through the Account Transfer Service.
Big surge in tied products
The proportion of mortgages and regular savings accounts that are only available for people who have another product with the same provider has increased dramatically since the beginning of 2010, discouraging consumers from shopping around to get the best deals, finds new research from the experts at Which? Money.