Homeowners who bought with a small deposit and are now nearing the end of their fixed or tracker rate deal could find themselves forced onto a higher interest rate, pushing monthly payments up significantly. Most lenders say they will honour the Government promise to offer homeowners struggling financially due to coronavirus a mortgage payment holiday … Read more
It’d be fair to say that Isa season 2020 has been somewhat overshadowed by more pressing global events. But although two cuts to the Bank of England base rate, a cheap funding scheme for banks and an economic shutdown mean any hope of new top tax-free savings rates has vanished, the underlying rules remain the … Read more
Banks and building societies pull a THIRD of all mortgage deals in just three weeks as worry over coronavirus grips the market There are 30 per cent fewer mortgages on offer then just three weeks ago Nationwide, Halifax and Barclays have all pulled higher loan-to-value deals Experts worry a lack of competition may mean mortgage … Read more
Small banks hand savers a lifeline despite two quickfire base rate cuts as best buy short fixed-rate deals appear… but they may disappear fast The Bank of England has cut its base rate from 0.75% to 0.1% in eight days This has led to a fear of a raft of savings cuts and best buy … Read more
Countless industries are being hit by the coronavirus pandemic, with a skyrocketing number of Americans losing their jobs. But while some of the suffering industries are obvious — restaurants, bars, travel, sports, gambling, movie theaters, retail, automakers, gyms — it turns out that Instagram influencers, too, are losing most, if not all, of their income. … Read more
DIRECTOR DEALS: IWG founder and chief exec Mark Dixon buys £6.1m worth of company shares By Daily Mail City & Finance Reporter Published: 21:50 GMT, 20 March 2020 | Updated: 22:28 GMT, 20 March 2020 IWG boss Mark Dixon spent £6.1m buying shares in the company this week The founder and chief executive of shared … Read more
Could this huge rate chop from Ford Money signal an imminent savings bloodbath after the base rate cut? The savings bank slashed its best buy deals by 0.4 and 0.42 percentage points Its one-year fixed-rate deals were the best around and now pay less than 1% Banks have already started responding to last week’s Bank … Read more
Retail never leaves the spotlight at present. The coronavirus always was going to highlight the corporate blunders of the past. Dixons Carphone is doubtless speaking the truth when it says that its ruthless decision to close all 531 Carphone stores was not virus-related. But one has to ask whether chief executive Alex Baldock would have … Read more
Those looking for regular savings accounts to shelter their money from the turbulence of the stock market will likely be settling for any port in a storm. However, the cash savings market has also been hit over the last 12 months, with rates on five-year fixed accounts paying less than what one-year fixed-rate ones did … Read more
Ministers fired a warning shot at banks this week as the top six lenders stand accused of failing to help mortgage prisoners switch to a better deal. In an open letter Treasury ministers urged banks to move quickly to help mortgage prisoners following some four months of inaction from lenders. The UK’s financial watchdog introduced … Read more