Money Gossip News Archive - August 2010

Five Percent Inflation Predicted

According to a Lloyds TSB poll of UK consumers inflation is expected to rise yet again, this being the tenth month in succession where the people of the UK have felt that inflation would increase.

Published:8/27/2010

Pocket Money Down Compared With Previous Year

The Halifax has reported that the amount of pocket money given to children has fallen compared with last year. In 2007 the weekly amount was just over GBP8, though this has fallen to a little over GBP6 this year.

Published:8/27/2010

Oil Heating Fuel Theft Threat

The Abbey National is warning homeowners who use oil for heating to make sure it is insured as thefts of the valuable resource are on the increase.

Published:8/27/2010

26 August Sees New Account Introduced

Lloyds TSB has just announced a new current account, called the Vantage. The account offers tiered rates of interest and is open to both existing and new customers.

Published:8/26/2010

Card Schemes Should Be Clearer

Sainsburys Bank would like credit card deals made easier to understand to help customers find the best option to suit them.

Published:8/26/2010

Stake In Big UK Insurer Taken By Chinese

The Prudential, the second largest life insurance provider in the UK, has seen the Peoples Bank of China take a one percent stake in the company, worth GBP130 million.

Published:8/25/2010

PM Apparently Misled Public Over Bank Sale

The Prime Minister, Gordon Brown, apparently told the people of the UK that Northern Rock could be sold for a profit in the future while his own advisors had said otherwise.

Published:8/25/2010

Number Of Estate Agents To Close

The Halifax is to close over 50 of its estate agent branches across the country with the loss of around a hundred jobs.

Published:8/24/2010

Tackling The Credit Crunch

Abbey National mortgage customers facing difficulties on the back of the credit crunch are being asked to consider taking in lodgers to make ends meet.

Published:8/24/2010

Talking Dog Misleading

The Advertising Standards Authority has upheld a complaint from a television viewer that the Churchill Insurance advertisements featuring the talking bulldog are misleading.

Published:8/24/2010

Asia Pacific Reorganisation For Bank

Citibank has reorganised its operations in the Asia Pacific area, giving top executives in the region much greater responsibility for more of the different products offered.

Published:8/23/2010

Travel Market Still Strong

According to the Post Office Insurance division spending on travel has remained constant, with no falls in currency or insurance transactions over the last couple of months.

Published:8/23/2010

Fuel Prices See Brits Cancel Bank Holiday Plans

According to information coming from AA Insurance the usual Bank Holiday trips out are going to be curtailed somewhat this year due to the high cost of fuel.

Published:8/23/2010

Speciality Focus Helps Insurer profits

Hiscox has seen first half profits increase thanks to them working more in the areas of specialised insurance cover, typically concentrating on small businesses and individual with a high net worth.

Published:8/22/2010

Holiday Cover Price Reductions

Tesco Finance has announced price reductions on its short break travel insurance products, a short break usually being three days or less.

Published:8/22/2010

Bonus For Card Holders

The Halifax has announced a new credit card called the All in One card, with an introductory offer to both new and existing Halifax customers of 11 months interest free balance transfers and card transactions.

Published:8/22/2010

Baggage Cover Important For Any Holiday

Legal and General are reminding UK holidaymakers to make sure their travel insurance includes their luggage, even if the trip is within the United Kingdom.

Published:8/21/2010

Know Your Dog And Insure Appropriately

Following on from a programme on the BBC that showed the issues facing some pedigree dogs More Than Insurance is advising all pet owners to understand the specific needs of their dog so they can make sure they can receive the best veterinary care.

Published:8/21/2010

August 20 - Home Loan Rates Cut

The Abbey National has today announced mortgage rate cuts on several of its home loan products, specifically the fixed rate and flexible mortgages.

Published:8/21/2010

Takeover Support Needed From Shareholders

The Alliance and Leicester is advising its shareholders to approve the proposed takeover by Santander to avoid major risks to the business in the future.

Published:8/20/2010

Holidays Part Financed By Savings

The Abbey National has found that over sixty percent of UK holidaymakers have used savings to finance a holiday this year, while others are using the money to pay for a holiday before it even gets to the savings account.

Published:8/20/2010

Children Prove Costly Around The Home

Apart from all the other costs associated with having children Abbey National are warning parents that home insurance is essential so as to be covered for likely accidents.

Published:8/20/2010

Motor Insurer Suggests Careless Driving Laws Should Apply To All

Direct Line, a leading provider of car insurance, has asked that the new careless driving law should also encompass those drivers who are uninsured.

Published:8/18/2010

Ireland Next Stop For UK Building Society

The Nationwide Building Society is readying itself for the provision of savings products to customers in the Republic of Ireland.

Published:8/18/2010

Pets Health Important To Us

Such is the love that the UK population has for its pets that they actually have more pet insurance policies than health cover for themselves according to a new Tesco Finance study.

Published:8/18/2010

Home Loan Rates Cut Once Again

One of the biggest mortgage providers in the UK, the Halifax, has announced more interest rate reductions on several of its home loan products.

Published:8/17/2010

Drink Driving Can Invalidate Car Cover

Drivers who omit to mention previous drink driving convictions could well find their car insurance is invalid should a claim be made say Norwich Union.

Published:8/17/2010

Cut In Fixed Rate Home Loan Rates

Following the trend in the market Northern Rock has announced a cut in its fixed rate mortgages, dropping them down to 6.43 percent from 7 percent.

Published:8/16/2010

UK Bank A Good Investment

Although the general feeling may be that UK banks are currently taking a beating an investment expert has suggested Lloyds TSB makes a great investment opportunity right now.

Published:8/16/2010

Family Support Needed For Elderly

A new survey by Saga Insurance has found that the grown up children of elderly parents may well end up financing their parents long term care from what was their inheritance.

Published:8/16/2010

Venue Cover Introduced

A new commercial insurance product has been introduced by Hiscox Insurance designed especially for top quality venue owners.

Published:8/15/2010

Operations To Be Streamlined

HBOS, owner of the Halifax amongst others, is to streamline its operation with the cutting of around 420 jobs and the deletion of one of its mortgage businesses.

Published:8/15/2010

Child Trust Fund Vouchers Going Unused

The Nationwide Building Society informs us that people are losing around GBP248 million through expired or unpaid Child Trust Fund vouchers.

Published:8/15/2010

Be Careful With Bikes

Sainsburys Bank are warning cyclists that even when their bicycle is at home it is still at risk of being stolen and should be protected accordingly.

Published:8/14/2010

New Chairman Named

The Prudential has named its new chairman as Harvey McGrath, previously the chairman at leading hedge fund company Man Group. Mr McGrath retired from that position late last year but has clearly felt the need to return back into the financial services sector with this new appointment.

Published:8/14/2010

Average Persons Value Revealed

According to a new poll by Post Office Insurance the average adult in the UK believes they are worth around GBP350,000.

Published:8/14/2010

Twenty Percent Not Saving

The Nationwide Building Society, in its latest results for July, has found that 20 percent of the adult population are not putting any savings aside.

Published:8/13/2010

Entrepreneurial Attributes Identified

The Alliance and Leicester claims that the majority of entrepreneurs that do well are the first born child and have at least one brother or sister.

Published:8/13/2010

Trip Cover Not Used By Around One In Four

Data provided by Sainsburys Bank shows that around 25 percent of holidaymakers from the UK are not buying travel insurance this summer.

Published:8/13/2010

Over Half A Billion Pound Loss For Bank

The first six months of the year has seen Northern Rock record a loss of GBP585 million, primarily through their customers being unable to meet the payments on their mortgage.

Published:8/12/2010

Close To Six Percent Increase In Motor Cover Costs

A study carried out by Sainsburys Bank looking at data for the last 12 months has shown an increase in car insurance cover of 5.8 percent.

Published:8/12/2010

Variety Of New Bonds Launched

The Nationwide Building Society has introduced half a dozen new investment bonds, with interest rates ranging from 6.5 to 6.7 percent.

Published:8/12/2010

Postcodes Lottery For Pensions

Starting from Monday 11 August the Prudential is going to decide annuity rates based on where people live, using their postcode as a guide.

Published:8/11/2010

British Bank Purchase Agreement

British bank Alliance and Leicester is to be bought by Santander according to an announcement stating an agreement had been reached between the two parties.

Published:8/11/2010

33 Percent Slump In Profits

Barclays saw a drop in profits of a third for the first half of the year, with write downs impacting seriously on the bottom line. Barclays Insurance though, a division of the bank, performed very well.

Published:8/10/2010

July Housing Prices Slide

The latest Halifax house price report showed a slide of 1.7 percent for the month of July, taking the overall decrease for the year to date to 8.8 percent.

Published:8/10/2010

Settlement Reached With SEC

Citibank has come to an agreement with the US Securities and Exchange Commission (SEC) to buy back several billion dollars worth of auction rate securities, the risks of which had been misrepresented.

Published:8/10/2010

Students Need Cover Too

Esure are reminding the new students headed for university this year that home insurance cover is something that should not be overlooked.

Published:8/9/2010

FSA Issue Fine Of GBP735,000

Hastings Direct has been fined GBP735,000 by the FSA (Financial Services Authority) for treating its customers unfairly. The car insurance company was found to have cancelled over 4,500 policies following a pricing error.

Published:8/9/2010

Holiday Homes Cover Important

AA Insurance are asking all owners of holiday homes to make sure their insurance polices cover items that are left there while the property is empty.

Published:8/9/2010

Discounted Cover For Travellers

Marks and Spencer are very generously offering a discount of 20 percent on travel insurance, on top of any other discounts currently applicable.

Published:8/8/2010

Undergraduates Working Part Time

The annual survey carried out by the Natwest Bank claims that over 40 percent of the 750,000 undergraduates will be working part time during the forthcoming academic year.

Published:8/8/2010

Lightning Cover Important In Summer

The Halifax is reminding all homeowners that they should ensure lightning cover is part of their home insurance especially as summer sees more claims.

Published:8/8/2010

Double Money On Offer For Savers

The Bank of Scotland has a fantastic opportunity for first time buyers saving a deposit for their first home – doubled up savings.

Published:8/7/2010

State Pension Alone Not Enough To Cover Basic Living Costs

The Prudential is warning people that the current state pension cannot be relied upon to provide a decent standard of living.

Published:8/7/2010

One Bank Equals Simplicity

Research carried out by the Abbey National has shown that around 20 percent of UK consumers have all their finances dealt with by just one provider. They feel it is simpler this way.

Published:8/7/2010

Over 50 Year Olds Savings Options

The Alliance and Leicester has just made available two new savings options for those aged 50 and over.

Published:8/6/2010

Savings Being Dipped Into To Cover Living Costs

According to a study carried out by the Abbey National recently a number of UK people are dipping into their savings in order to pay their ongoing bills.

Published:8/6/2010

Fixed and Tracker Home Loans See Rate Cuts

The Natwest Bank has announced a reduction to its tracker and fixed rate mortgage rates with cuts of up to 0.3 percent.

Published:8/6/2010

Confidence Low Regarding Job Security

According to the latest survey by Lloyds TSB confidence in job prospects and safety of employment are way down compared with just a year ago.

Published:8/5/2010

Student Accounts Ready For The New Term

Abbey National has announced the introduction of 2 new student bank accounts, one aimed specifically at those from other countries coming to the UK to study.

Published:8/5/2010

New Retirement Product For Fund Diversity

Legal and General has today launched a new pension product, called the Portfolio Plus Pension it is designed for customers who want to spread their investment in a large number of funds.

Published:8/5/2010

Emerging Markets Partnership Expansion

The Prudential is said to be expanding the partnership it has with Standard Chartered a bank that works in the emerging markets sector.

Published:8/4/2010

Profits Drop For High Street Bank

The first half of 2008 has seen Lloyds TSB profits fall 70 percent compared with the same period last year, at GBP599 million.

Published:8/4/2010

Policy Holders To Receive Payouts

Two Norwich Union with profit funds are set to pay their policyholders an average of GBP1,000 each should they accept the offer.

Published:8/4/2010

US Securities Probe Expected

Citibank parent Citigroup is understood to be under investigation by the financial regulator of the United States with regard to some potential breaches of securities law.

Published:8/3/2010

Eco Friendly Motoring Approved By Younger Drivers

A study carried out by esure car insurance has found that younger drivers are more likely to buy an environmentally friendly car than older drivers.

Published:8/3/2010

Tyre Checks Recommended

The RAC is advising UK drivers to make sure they check their tyres regularly to avoid problems.

Published:8/3/2010

Big Fine For PPI Provider

Liverpool Victoria has received a fine of GBP840,000 because of serious issues with the way it sells PPI or Payment Protection Insurance.

Published:8/2/2010

Housing Market Sees Biggest Fall Since Survey Began In 1991

The Nationwide Building Society house price survey recorded the biggest year on year fall since they began collating data in 1991.

Published:8/2/2010

Profit Slump For Big Home Loan Provider

Half year results from the Alliance and Leicester have shown profits at just GBP2 million, down from GBP290 million for the same time last year.

Published:8/2/2010

Tracker Home Loan Launched

Legal and General has brought a new tracker mortgage to the market, with a maximum loan to value of 75 percent.

Published:8/1/2010

New Bond For August

The Abbey National is making a one year fixed rate bond available for a limited period, with an interest rate of 6.75 percent.

Published:8/1/2010

Premiums Could Be Five Percent Higher By End Of Year

Admiral car insurance has warned car drivers that they could see their premiums 5 percent higher by the end of this year.

Published:8/1/2010

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