Archive for October, 2007
Credit card that offers fuel rebates
A rewards based credit card has been launched that offers fuel rebates to customers, enabling cardholders to spend on their card and enjoy getting rebates on the cost of diesel and petrol.
The card has been launched by Shell in conjunction with CitiBank and is a MasterCard. The card should prove useful to those that drive a lot, enabling them to save some money on the rising cost of fuel whilst enjoying the ease and convenience of spending on a credit card.
Popularity: 31% [?]
Women working harder to cope with rising mortgage costs
According to a recent report women in the UK are having to work harder and longer in order to keep up with rising mortgage repayments.
The reports shows that many women have had to take on second jobs to cope with repayments, as interest rates and rising property prices have taken their toll and left homeowners struggling to keep up with rocketing repayments. There have been five interest rate rises since August of last year, and these have added considerably to the repayments of those on variable rate mortgages.
Popularity: 23% [?]
Effects of housing market cooling start to show
According to a report from the Halifax Bank of Scotland (HBOS) there was a drop in property values in the UK in September, and the effects of a cooling housing market will now start to show in the falling value of properties.
In September house prices fell for the first time since December, with a drop of 0.6%. This came as more of a shock because some experts had predicted a 0.4% increase in property values rather than the drop.
Popularity: 18% [?]
How effective is the Lloyds TSB charge reduction?
Some industry experts are questioning just how effective the reduction in charges put forward by Lloyds TSB will be. The banking giant recently announce changes to its fee structure and charges, stating that the customers’ best interests were behind the changes.
However, not all industry professionals are convinced by this, with many concerned that some customers could actually find themselves worse off under the new fee and charging structure.
Popularity: 25% [?]
Ridley quits Northern Rock
Following a period of turmoil and chaos the chairman of troubled bank, Northern Rock, has quit his £315,000 a year job, which he has held for the past three years.
Matt Ridley offered his resignation in September following the chaos that resulted from the bank asking for an emergency loan from the Bank of England. However, according to reports Ridley was asked to stay on a little longer in order to deal with interrogation from the Treasury Select Committee, which accused Ridley of “damaging the good name of British banking”.
Popularity: 23% [?]
No change for interest rates in UK
Following this week’s Monetary Policy Committee meeting on Thursday, the Bank of England has announced that interest rates are to be kept on hold at 5.75%, which came as no surprise to most economists and analysts, who had widely predicted that this would happen.
This is the third month in a row that interest rates have been kept on hold, with the last rise of a quarter point taking place back in July of this year, which took the interest rate up to its current level of 5.75%.
Popularity: 18% [?]
Chancellor thinks longer term fixed rate are the answer
Affordability when it comes to buying property in the UK has diminished over recent years, with a combination of rocketing house prices and higher interest rates affecting consumers’ ability to purchase property.
For those that are already on the property ladder the series of five interest rate hikes in the space of a year have taken their toll, and have made it a real struggle to keep up with rising mortgage repayments for many homeowners on variable rate deals.
Popularity: 19% [?]
New PPI guidelines to be available from FSA
The UK’s financial regulator, the Financial Services Authority, has announced that it will be stepping in to make it easier for consumers in the UK to find the right Payment Protection Insurance policy for their needs.
PPI has come under fire over recent months, with regulators carrying out a review that showed this type of cover has been mis-sold, pushed onto customers who didn’t want to take it out, and even sold to customers with their knowledge in some cases.
Popularity: 22% [?]
Savings guarantees clarified for customers
The UK treasury has clarified the details of its guarantee to savers in the UK following the recent turmoil faced by Northern Rock, where droves of savers withdrew over £2 billion in savings after finding out that the bank had been to the Bank of England to borrow money.
Savers had been assured by both government officials and by Northern Rock, the fifth larges mortgage lender in the UK, that there was no chance of insolvency, but many still took out their savings amidst fears that the company may fold.
Popularity: 20% [?]
Sainsbury’s offering low cost home insurance on bundles
Supermarket giant Sainsbury’s recently announced a special offer on home insurance for homeowners, which could come as relief for many in the light of insurance premiums rocketing by up to 3% in the last three months as a result of the summer floods, which cost insurance companies around £3 billion in claims for damage caused by the weather.
Sainsbury’s launched its special deal on home insurance not long after announcing changes to its credit card that meant longer interest free periods for borrowers.
Popularity: 23% [?]