Banking News

New rapid response unit ready to deploy team of finance experts to councils

A new joint rapid response unit has been set up and is in operation, ready to deploy finance experts to local authorities who need assistance following the failures of Icelandic banks. ...

Inflation rate facing the elderly hits a six-year high

The inflation rate amongst the elderly is at a 6 year high, an astonishing 7.8%. Alliance Trust's ongoing monthly study of age related inflation has found that the over 75 year olds continue to be hit the hardest by rising inflation, and the pain is getting worse. This age group saw their inflation rate jump from 7.0% to 7.8% in September....

Home not a safe haven for your hard earned cash

As domestic safe sales surge, esure warns homeowners that they could be left under-insured and exposed by keeping too much cash at home....

Economic Secretary announces banking liaison group

Ian Pearson MP, the Economic Secretary to the Treasury, today announced that a new expert liaison group on banking will be set up. ...

Fight must continue on fuel poverty say Ministers

Ministers today said that they will continue with their fight against fuel poverty, as Environment Secretary Hilary Benn holds meetings with energy suppliers and the home insulation industry to discuss how to speed up work on increasing energy efficiency in the UK's homes....

Cheshire's Premier Postal Savings Account now available at branches

Cheshire Building Society has re-launched its competitive Premier Postal Savings Account and due to popular demand has made the account available throughout its branch network. ...

Credit crunch revives the family holiday

Adults who stopped holidaying with their parents in their teens are reviving the family holiday in order to save money and have childcare on tap according to Saga Travel Insurance. ...

The Co-operative Bank launches first pick n mix packaged current accounts

The Co-operative Bank today (29 September) launched the UK's first ever packaged current accounts that offer customers an opportunity to choose benefits to suit their personal needs....

Students feel the pinch and take measures to combat the credit crunch

Students gearing up for the first weeks of term are feeling the effects of the rising cost of living according to new research from Abbey Banking(1)....

Only one week left to grab Alliance and Leicesters online switching incentive

Current account customers are being urged to go online within the next 7 days and take advantage of Alliance & Leicester's £100 incentive by switching to its Premier Current Account before the offer ends on 29 September 2008....

Explosive rally as authorities take action

The end of a tumultuous week sees equity markets post some of the strongest gains in six years over hopes that the US authorities will announce a permanent solution to the current banking woes. In addition to possible plans to set up a US government agency to buy bank assets, the FSA and SEC have temporarily banned short selling of selected lists of financial stocks....

M&S Money offers foreign currency refund for XL Leisure Group Customers

M&S Money is offering to refund in full foreign currency purchased from M&S by customers who had booked holidays with the XL Leisure Group and are now unable to travel....

Barclays announces rate cuts to mortgages

With effect from Tuesday 16th September, Woolwich is cutting rates on both fixed and lifetime tracker mortgages, and introducing a competitive new lending tier at 75% loan to value. ...

Abbey cuts rates for customers with smaller deposits

Abbey is cutting rates by 0.6 per cent on its mortgages for customers with a 15 per cent deposit, as well as introducing five new deals to this range. It is also reducing fees on these products by up to £1,000, so the 85 per cent LTV range - which is available for borrowing of up to £550,000 - now starts at:...

Record number of savers search for lost accounts

account tracing website has notched up over six months of success, during which time over 140,000 individuals have searched online for their forgotten funds. ...

Customer Satisfaction with Banks in the United Kingdom Increases Despite Struggling Economy

Despite a challenging economic climate, customer satisfaction with retail banks in the United Kingdom has increased since 2007, according to the J.D. Power and Associates 2008 UK Retail Banking Customer Satisfaction Study released today....

Abbey makes further reductions to its mortgage rates

From Friday, (5 September) Abbey is reducing the rate on its two, three and five year fixed rate mortgages by up to 0.30 per cent. ...

UK Banking Sector fire fighting response to online fraud

UK banks fire fighting approach to fraud is leading to inadequate online security, according to leading digital security company, Gemalto. ...

Profits Maybe Down, But Barclay's Remains Preferred Bank Share Says Stockbroker

Following the announcement from Barclay's Bank that profits are down by a third, Graham Spooner, Investment Adviser at The Share Centre, comments on the results and indicates how investors may benefit....

New Star's Simon Ward Predicts 'No Change' For Interest Rates on Thursday

Simon Ward, economist with fund managers, New Star, has stuck his head above the parapet and predicted a 'no change' vote by the Bank of England's monetary policy committee on Thursday....

Britannia Launches New Savings Account at 6.25% Gross

Britannia Building Society has launched a brand new online and telephone savings account - DirectSaver Reserve with a rate of 6.25% gross....

Government Announces Support For Flood Risk Households

Defra (Department for Environment, Food and Rural Affairs) is today setting out plans to contribute at least £5 million to a scheme to support households in England which face a particularly high risk of flooding but which are not protected by traditional community level defences....

Abbey Issues New Fixed Rate One Year Bond Paying Up To 6.75%

Abbey Savings launches on Monday (4 August 2008) its latest one-year savings account for customers looking for a guaranteed return on an amount of money they can lock away for one year....

LLOYDS TSB Results a fund managers view

UK Growth & Income Fund Manager and Banking Sector Specialist, Chris White, gives his views on the Lloyds Interim Results...

Britannia launches new inflation linked bond

Britannia has launched a new range of Guaranteed Capital Bonds, including a brand new inflation-linked product. Available from 26 July, the new five year Inflation Linked Guaranteed Capital Bond (ILG...