Money Gossip News Archive - June 2010

House Moves Wanted By Over Three Million Homeowners

According the the Alliance and Leicester mortgage department there are around 3.25 million homeowners who would like to move house in the coming year.

Published:6/30/2010

New Investment Bond Introduced At The Post Office

Savers looking for a guaranteed return over a fixed term and a low minimum investment should pop down to the Post Office where they have introduced a bond that offers just that.

Published:6/30/2010

Music Festival Visitors Advised To Get Insurance

A fascinating fact about the music festival season is that three out of four people attending them lose possessions while there according to Zurich Insurance.

Published:6/30/2010

Scotland Sees Economic Growth Despite UK Issues

According to the Lloyds TSB Business Unit the economy in Scotland is growing, albeit at a lower than hoped for rate.

Published:6/29/2010

UK Consumers Going Green For Financial Reasons

A survey carried out by Tesco Finance has found that nearly half of the people talked to are taking steps to be more eco-friendly, though it is saving money rather than saving the planet that is the motivator.

Published:6/29/2010

New Base Rate Tracker Mortgage Launched

Alliance and Leicester has announced a new tracker mortgage with a headline rate of less than 6 percent.

Published:6/29/2010

Subprime Lender Peoples Choice In Chapter 11

The fallout from the ongoing credit crunch has really hit Peoples Choice hard, pushing them to file for Chapter 11 in the US.

Published:6/28/2010

More Job Loss Rumours Unfounded

Top level managers at Hastings Direct insurance company have denied rumours that job losses will be greater than that already advised.

Published:6/28/2010

Furniture Insurance Protected

Top UK retail outlet Argos works with Allianz Cornhill to offer the dedicated Argos Insurance that is available to protect the large quantities of furniture and other items sold by the retailing giant.

Published:6/28/2010

Only Finance Support Critical Illness Improvements

The improvements made to their critical illness insurance cover by Legal and General have been supported by Only Finance, who are pleased to see positive changes in this market.

Published:6/28/2010

Moneyback Bank Tops Loan Table

As the Moneyback Bank stood at the head of the best buy unsecured personal loan table critics were accusing parent company Alliance and Leicester of manipulation.

Published:6/28/2010

Ethical Investment Fund From Marks and Spencer

Marks and Spencer have announced their new Ethical Investment Fund which will invest in UK based organisations that make a positive contribution both to the environment and the communities in which they have an effect.

Published:6/28/2010

Indian Bank Sees Interest In Credit Rising

According to an ICICI Bank spokesman the business is expecting to see an increase in loans provided running through the third and fourth quarters of the financial year.

Published:6/27/2010

Owner To Sell First Plus

Secured loan provider First Plus is thought to be on the market, with owner Barclays Bank looking to net a return on the company.

Published:6/27/2010

Credit Crunch Forces Loan Rate Rise

As the pressures on global credit increase so personal loans are feeling the squeeze, with some rates going up by around four percent, though Eskimo Loans rose by only 1 percent.

Published:6/27/2010

Safest Drivers Found By Diamond

According to Diamond Insurance, the women only car insurance company, teaching assistants from Perth in Scotland are the safest drivers in the country.

Published:6/27/2010

Deer Accidents Costly Says Insurer

According to information sourced by Credit Plus the cost of road accidents involving deer in the UK is around GBP 21 million per year.

Published:6/27/2010

Holiday Insurance From Columbus

A leading travel insurance provider, Columbus Direct offer a range of policies to suit individual needs, all attractively priced.

Published:6/27/2010

Reduced Carbon Footprint Option Offered By Insurer

The car is being blamed for most of the pollution of the world, though this is far from reality as far as many are concerned. However Budget Insurance are on hand to help make it all better with their new emissions offsetting car insurance policy.

Published:6/27/2010

Credit Card Borrowing Getting Harder

The worldwide credit squeeze is beginning to affect UK borrowers now, with holders of MBNA credit cards seeing interest rates climbing.

Published:6/27/2010

Interior Design Can Be Costly

A new study by the home insurance division of Privilege has found that interior design mistakes are costing British homeowners around GBP 1 billion each year as they try and sell their properties.

Published:6/27/2010

Sheilas Wheels Goes From Strength To Strength

2 years after launching women only car insurance Sheilas Wheels are now one of the best recognised insurance companies around.

Published:6/27/2010

New Speed Limit Proposals Questioned

Government proposals for new 20 mph zones are receiving mixed responses from officials says car insurance provider Swiftcover.

Published:6/27/2010

Drivers With Penalty Points Get Support From Swinton

The view of Swinton, the biggest insurance broker on the high street, is that drivers with six points plus on their licence will soon be the norm, categorised as standard.

Published:6/27/2010

Link Between Vehicle Colours And Safety

In a somewhat surprising comment Yes Insurance have asked for fire engines to be yellow rather than the traditional red.

Published:6/27/2010

Rock Considered For Purchase By Virgin

Representatives from Virgin Money have been discussing the potential purchase of troubled Northern Rock, they being part of a larger consortium.

Published:6/27/2010

Retired Peoples Assets Substantial

According to the Prudential retired people have substantial assets and savings although they are not maximising them to aid their standard of living.

Published:6/26/2010

We Possess The Most At 46 Says Survey

The age of 46 has been found to be the point where own the greatest value of possessions according to a More Than survey.

Published:6/26/2010

Flexible Mortgage Fees Reduced At Abbey

Good news for those seeking a mortgage comes from the Abbey National, where fees on their flexible mortgage products will be GBP1,000 lower than they were at just GBP1,499.

Published:6/26/2010

Vehicle Insurance As Important As Trip Insurance Says RAC

The RAC are trying to get the message across that as well as buying travel insurance prior to a holiday so car insurance should not be overlooked.

Published:6/26/2010

Waiting On The Increase

A new report from Green Flag shows that we are spending more time than ever before simply waiting – be it in a traffic jam, in a shop queue or for a delivery.

Published:6/26/2010

Mini Motor Insurance Price Comparison

Elephant Insurance have been asking Mini drivers to compare their current insurance deals with what Elephant can offer.

Published:6/26/2010

First Home Repossession By Government Backed Northern Rock

After being unable to maintain the repayments on her GBP360,000 Northern Rock mortgage Christina Georgiou and her three children have been given just a month to vacate the property they once called home.

Published:6/25/2010

Better Animal Insurance Good For Vets

A recent study has found that veterinary practices are making returns of around 37 percent, a superb result for any business. It is felt that this is down to improved pet insurance cover, Tesco Finance being a good example.

Published:6/25/2010

Mortgage Approvals Down By 20 Percent

According to just released industry figures the number of mortgage approvals is down by a massive 20 percent compared with last month and almost 60 percent less than the same time last year.

Published:6/25/2010

Potential Bid For German Bank On The Cards

An approach has been made by Lloyds TSB for German bank Dresdner as the well known UK financial institution looks to maximise retail opportunities across Europe.

Published:6/24/2010

New Investment Bond Launched By Egg

Egg, best known for the Egg credit card has just introduced a new bond that is linked to the FTSE100 performance over the next 3 years.

Published:6/24/2010

Foreign Currency Conversion Needs Better Understanding

Foreign exchange rates can be costing consumers money according to an Abbey National credit card division survey.

Published:6/24/2010

Quicker Than Expected Loan Repayments May Affect Wider Mortgage Market

The fact that Northern Rock is making repayments back to the Bank of England for the bail out loan it received seems, on the face of it, to be good news, though it could prove to be detrimental to the mortgage market as a whole.

Published:6/23/2010

Fixed Rate Mortgages Still Popular Despite Cost Increases

A review of the current mortgage market by Legal and General shows that the fixed rate mortgage is still very popular with consumers despite the recent rate rises they have experienced.

Published:6/23/2010

Mortgage Rates Up For New Customers At Halifax

New mortgage customers at the Halifax will have to pay a little more for their home loans from today if they are taking out a tracker or fixed rate mortgage product.

Published:6/23/2010

Further Writedowns Forecast At Citibank

Late last week Citibank warned the markets that more big writedowns were expected in quarter 2. They are also looking at more credit losses in the face of what they called unprecedented conditions in the market.

Published:6/22/2010

Japanese Bank Considering Barclays Investment

One of the largest banks in Japan, Sumitomo Mitsui Financial Group, is considering buying into Barclays Bank as they seek to raise GBP4 billion capital.

Published:6/22/2010

Retirement Abroad Becoming More Appealing

As the cost of living goes higher and higher in the UK so more people are looking at retiring to a different country say Saga Insurance.

Published:6/22/2010

Brits Shy About Financial Advice

A recent study carried out by Zurich Insurance has shown that over half the consumers in the UK have never taken financial advice from a qualified advisor.

Published:6/21/2010

Faster Mortgage Processing Introduced

Customers taking an Alliance and Leicester mortgage through a broker are going to find the process is much faster than it used to be thanks to the introduction of ifax.

Published:6/21/2010

Pension Regulation Changes May Deter Savers

The investment management team at Legal and General is currently looking at the future of pension schemes, concerned by the many different rules and regulations that are being placed on them.

Published:6/21/2010

New Student Current Account Offer

Natwest Bank has just announced its latest student current account offers, with interest free overdrafts, laptop savings and reduced rail fares all available.

Published:6/21/2010

Sovereign Wealth Funds Eye Up Stake In Barclays

Barclays Bank recently announced they were considering a sale of shares to avoid a rights issue and this has led to interest from Temasek Holdings in Singapore and QIA, the Qatar Investment Authority.

Published:6/20/2010

New Management Team Looking At Potential Legal Action

The new management team at Northern Rock is looking into whether they can take legal action against the previous board that led the bank into such difficulties last year.

Published:6/20/2010

Double Check Holiday Insurance Cover Warns Insurer

Travel insurance is an essential part of any journey, though travellers should ensure that they are protected for things they do whilst on holiday warns esure.

Published:6/19/2010

Flood Defences Must Be Developed Says Insurer

AA Insurance has asked the government to continue investing in flood defences as well as suggesting local councils should not approve building in high risk areas.

Published:6/19/2010

Savers To Be Reunited With Lost Accounts

Lloyds TSB will be striving to reunite around GBP69 million with its owners, spread over 120,000 savings accounts that are laying dormant.

Published:6/19/2010

Borrowing To Cover School Fees On The Increase

In 2007 approximately 18,000 unsecured personal loans were taken out to pay for school fees, with a total value of around GBP165 million according to Sainsburys Bank.

Published:6/18/2010

Euro 2008 Miss Saves UK Money

The bad news of England not qualifying for the Euro 2008 Championships is tempered by the fact that, according to the Abbey National, the average British football fan will have saved over GBP550 by England not being there.

Published:6/18/2010

Big Interest In High Street Bank Current Account

New Lloyds TSB current account customers will be able to enjoy a 6 percent interest rate if they open the Lloyds Plus account before 13 July.

Published:6/18/2010

Mortgage Rates Up At Nationwide

As of 17 June the Nationwide Building Society mortgage rates will be increased by up to 0.5 percent on a number of their products.

Published:6/17/2010

Up To GBP4 Billion Sought From Investors By Barclays

In order to try and balance their accounts Barclays are looking to raise in the region of GBP4 billion from external investors. This is to avoid using a rights issue which could seriously affect their share price.

Published:6/16/2010

Bank Current Account Interest Rate Increase

Lloyds TSB has this week increased the rates of interest offered on its Plus current account to 6 percent, an enormous 2 percent more than it was previously.

Published:6/16/2010

Pay As You Drive Insurance Scheme Scrapped

The largest insurer in the UK, Norwich Union, has suspended what had been described as a ground breaking form of car insurance that used a black box to track every journey.

Published:6/16/2010

Motoring Holidays In Spain Provide Best Value

A list of top driving holiday destinations has been produced by the Post Office Insurance division, suggesting the best places in Europe to drive, either travelling from the UK or using a local hire car.

Published:6/15/2010

Midlands Insurance Blackspot For Caravan Theft

According to the information provided by AA Insurance around 4,000 caravans are stolen each year in the UK, with the midlands being the area from which they vanish more than any other.

Published:6/15/2010

Annuity Commitment from LV=

LV=, also known as Liverpool Victoria, has committed to get tax free cash to their Annuity Pension holders within five days of receiving all relevant funds and documentation. If this is not achieved they have promised GBP1000 compensation.

Published:6/15/2010

Moving House Going DIY Says Lloyds

A study carried out by the Lloyds TSB mortgage department has found that the days of the removal man may be numbered as people take a do it themselves approach.

Published:6/14/2010

Accidental Damage Around The Home Proves Costly

A recent study by Tesco Finance has looked at the damage we do in our own homes and found some startling results.

Published:6/14/2010

National Bike Week: Secure Your Property Is Advice

With National Bike Week about to begin cyclists are being reminded by the Halifax to make their bikes safe and secure.

Published:6/14/2010

Financial Protection Can Help Protect Against Difficulties

As the credit crunch adds to the strain many families are facing, Legal and General are advising people to look at financial protection products to help ease the stress.

Published:6/13/2010

Hold On To Your Passports Advice From Holiday Insurance Provider

It appears that around 500,000 people from the UK lose their passport each year while on holiday, with a subsequent loss, according to the Halifax, of over 1.7 million days as they wait to be allowed to come home.

Published:6/13/2010

New Household Insurance Policies Introduced By Tesco

Three new home insurance policies have been introduced by Tesco Finance, providing differing levels of protection to suit the needs of the user.

Published:6/13/2010

Thank You Gesture From Halifax

Halifax home insurance customers will be happy today as they find out that they will receive GBP50 as a thank you for their loyalty to the company.

Published:6/12/2010

Loyalty To Insurers Can Prove Costly

According to Tesco Finance the cost of not changing home insurance companies last year totalled GBP26 million.

Published:6/12/2010

Major Home Improvements Should Be Communicated To Home Insurer

According to Sainsburys Bank around 20 percent of UK homeowners are planning major changes to the structure of their properties in the next 12 months, though how many of them realise they should tell their insurer is another matter.

Published:6/12/2010

Credit Cards Are Vital Backup For Many People

There are many situations where people have to deal with unexpected situations that need to paid for, breakdowns in the home or car for example. However around 7.5 million people in the UK say they need their credit card to cover these problems say the Alliance and Leicester.

Published:6/11/2010

Lower House Prices Enticing Movers

According to the Abbey National falling house prices may be an interesting opportunity for some homeowners who can see the chance to get a bigger property at a smaller price.

Published:6/11/2010

Holiday Insurance Tips From Tesco

As the busiest time of the year for holidays comes ever closer Tesco Finance are sharing some hints and tips with holidaymakers to help them have a great holiday and to manage situations in the best way should they arise.

Published:6/11/2010

New Investment Bonds Issued By Abbey

The Abbey National has just issued a new range of investment bonds, catering for children, the over fiftys and those seeking a safe, fixed rate home for their money.

Published:6/10/2010

Contents Insurance Meets Rising Cost Of Damage

As costs rise so the amount needed to replace household items increases also. The need for home insurance is therefore greater than ever say Direct Line.

Published:6/10/2010

Unchanged Base Rate No Surprise Says Abbey

The recent decision by the Bank of England to keep the base rate at 5 percent was as per expectations according to the Abbey National.

Published:6/10/2010

Career Dreams And Aspirations Of Young People Today

According to a recent Alliance and Leicester survey of 16 to 21 year olds in the UK, the ideal occupation would be a professional, and very famous, musician.

Published:6/9/2010

Motor Insurance Quote Analysis Reveals Car Choices Change With Age

After a study of the data gained through the Tesco car insurance comparison site it has been found that car choice is determined a lot by the age of the driver.

Published:6/9/2010

Unapproved Repairs Can Negate House Insurance Cover Warns Insurer

Endsleigh Insurance is warning homeowners that getting repairs and home improvement work done by non-approved people can mean home insurance is not valid, leaving the consumer unprotected.

Published:6/9/2010

Credit Card Fraud More Likely To Affect Younger People

In a study carried out by Saga Insurance it has been found that the younger generation, especially males, are more likely to fall victim to credit card fraud.

Published:6/8/2010

Fixed Rate 12 Month Bond Introduced By The Abbey

For anyone looking for a high interest paying investment option the Abbey National has just launched a one year fixed rate bond that offers a 7.01 percent interest rate.

Published:6/8/2010

Motor Insurance Specifically For Women Launched By More Than

A new car insurance policy has been introduced by More Than, designed especially for female drivers.

Published:6/8/2010

Insurance Advice From The Co-op

Life Assurance plans are something that everyone should have, as long as they are the most suitable for the customer. The CIS Life Insurance division is offering some handy tips to help customers make sure their loved ones are looked after.

Published:6/7/2010

New Regular Savers Account Launched At The Halifax

A new Halifax savings account, offering an outstanding 10 percent interest rate for regular savers will be made available for a limited period of just 6 weeks, beginning on Monday.

Published:6/7/2010

Property Prices Down Again In May Say Halifax

The latest data from the Halifax shows a 2.4 percent drop in house prices for May 2008, making them 3.8 percent lower than they were in May 2007.

Published:6/7/2010

Housing Market Prices Fall Again Say Nationwide

The Nationwide Building Society house price index showed a fall in property prices of 2.5 percent in May, making them almost 4.5 percent lower than this time last year.

Published:6/6/2010

Current Account Changes At Big High Street Name

Barclays Bank current account customers have been made aware of some changes to the bank accounts, including an overdraft service and some new accounts.

Published:6/6/2010

Green Investment Opportunity From Zurich

A new capital account has been launched by Zurich Insurance, called the Green Guaranteed Account. It offers returns based on stock market investments into green businesses.

Published:6/6/2010

New Credit Card Deal Is Highly Competitive

The credit card market seems to be hotting up as companies aim to offer the best deals in order to win customers. The latest Capital One credit card is one such deal and is expected to be very popular.

Published:6/5/2010

New Mortgage Offers On The High Street

Well known high street building society the Alliance and Leicester has just announced some new mortgage offers offering a variety of options for housebuyers.

Published:6/5/2010

Delays Sourcing Foreign Currency Can Be Costly Say Sainsburys

Sainsburys Bank is advising those travelling abroad to get their currency arrangements sorted out in good time to avoid losing money on commission charges and lower exchange rates.

Published:6/5/2010

Vehicle Insurance Advice From The AA For Travelling In Eire

Motorists planning to drive in the Republic of Ireland are being advised by the AA to check their car insurance policies.

Published:6/4/2010

Mortgage Rates Reduced At Nationwide Building Society

Good news for those looking to buy property comes in the shape of some Nationwide Building Society mortgage rates being reduced.

Published:6/4/2010

The Savings Habits Of The Nation Are Changing

According to the Legal and General MoneyMood survey, the people of the UK are changing their habits regarding saving.

Published:6/4/2010

Forecast For Recession Is High According To L&G

The Legal and General is reporting that economic indicators are flagging up a 95 percent chance of economic slowdown and subsequent recession.

Published:6/3/2010

Training And Accreditation In Place For Top Financial Services Provider

In what is understood to be a unique agreement, the IFS School of Finance has agreed to train and provide accreditation for all underwriting staff at Abbey National.

Published:6/3/2010

Great Place To Work Institute Lists Admiral In Top 10

The annual listing of great places to work in the UK now includes Admiral in the top 10, the only business from the financial services sector to be found there.

Published:6/3/2010

Mortgage Rates Increased At Abbey National

Some Abbey National mortgage customers, specifically those looking for fixed rate mortgages, are facing rate increases of up to 0.56 percent. This comes only a week after rates were reduced by the company.

Published:6/2/2010

12 Months Free Health Insurance For Children at Tesco

New health insurance customers at Tesco Finance will be able to include their children for free on the first 12 months cover. The offer is applicable on applications made between 29 May and 23 July 2008.

Published:6/2/2010

Small Businesses Cost Most To Run In Milton Keynes

Excluding London it has been found that Milton Keynes is the most expensive place to operate a small business, this according to the Alliance and Leicester Business Banking unit.

Published:6/2/2010

Almost A Quarter Of Families Have Toys Stolen Says Home Insurer

Over 22 percent of families with children under five have had toys taken from outside their homes according to a Halifax home insurance survey.

Published:6/1/2010

UK Consumers Feeling The Pinch According To Survey

Having spoken with a sample of UK consumers Lloyds TSB can see how they are now feeling the pinch as the credit crunch and economic difficulties continue to affect lifestyles.

Published:6/1/2010

Internet Savings Account Rate Increase

Tesco Finance has just announced an improved rate for its internet saver account, paying 6.25 percent AER for 12 months.

Published:6/1/2010

We try and keep the news section accurate, please contact us if you spot any errors or omissions.