Savings News
A year on from the Northern Rock run, savers reap the rewards
The greater need for institutions to claw in deposits since the run on Northern Rock 12 months ago has meant savers have been constantly rewarded, with rates climbing even as the base rate falls.
As many as 5 million Brits risk future financial failure
An overwhelming majority of Britons share a serious concern for their long-term financial prospects, according to the Institute of Financial Planning (IFP).
UK employees miss out on tax breaks by ignoring share schemes
UK employees will miss out on a staggering £184 million of tax breaks this year, by failing to utilise the most tax-efficient employee share schemes, reveals Unbiased.co.uk, the website promoting the benefits of independent financial advice.
Consumers admit they are saving less than they need to
Nationwide Building Society reveals that only 31% of consumers thought saving was very important in August continuing the downward trend seen since April.
Zurich launches latest Guaranteed Capital Account
The Zurich Guaranteed Account 20 offers intermediaries and their clients' access to potential stock market returns whilst protecting their clients' original capital investment.
Teenagers saving to avoid student debt
Many youngsters are saving towards higher education from the age of 11 because they have seen older family members flounder under the burden of university debts, according to research from leading Child Trust Fund provider, The Children’s Mutual.
Flight to safety as IFAs turn to cash and bonds
Stock market volatility is prompting a flight to short-term safety as IFAs advise clients to invest in cash and bonds to avoid the recent massive swings in the FTSE-100, according to the Virgin Money Investor Intentions Index.
Abbey International launches limited offer fixed rate contracts
Abbey International has launched a range of limited offer fixed rate contracts currently paying up to 6.75% AER, to complement its variable interest rate range of offshore deposit and Base Rate tracker accounts.
ifs ProShare welcome SAYE rate rise
ifs ProShare, a membership organisation that acts as the voice of the employee share ownership industry in the UK, has welcomed the Treasury's recent decision to increase the bonus rates payable on Save As You Earn (SAYE) Sharesave Schemes.
Don't bank on the inheritance
More than 1 in 5 (22%) adults aged 26-35 years are hoping to cash in their inheritance to fund their retirement, according to research from Standard Life.
Building society savers take refuge from uncertainty
Continued economic uncertainty has seen building societies attract net receipts of £1.4 billion in July 2008, double the amount saved in July last year, as savers sought safe homes for their money.
Cheshire launches 10% fixed rate Portfolio Reserve
Cheshire Building Society has launched a new issue of its Portfolio Reserve investment product with an attractive guaranteed fixed rate of up to 10% gross/AER for 12 months.
Saving pots pave the way for home improvements
Four fifths (80%) of people who carried out home improvements in the past year financed their work either partly or entirely through their own savings, according to research from Halifax.
Savvy savers cut household expenditure
Just 8% of British savers aged between 30-60 are cutting back on investing in stocks and shares despite the credit crunch, according to research from Bestinvest.
The family coffers run dry
The rising cost of living is preventing Britons from giving their families financial help, according to Chelsea Building Society. As 78% of people cut down on their personal spending, families can no longer rely on each other for loans and financial help, and instead offer other types of support and assistance.