The Bank of Scotland has a fantastic opportunity for first time buyers saving a deposit for their first home – doubled up savings.
The way this works is that savers who regularly deposit money into a Bank of Scotland savings account, up to a maximum amount saved of GBP5,000, will have the balance matched by the home builder Persimmon. The one proviso is that this only happens if the savings are used as a deposit on a new house.
A spokesman from the housebuilder saw it as making a real difference for first time buyers, though they would still need a considerable amount saved elsewhere in order to make the 25 percent minimum deposit most mortgage providers require. The Bank of Scotland are also in favour of the scheme as they want to help home buyers as much as they can.
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. Investors are driven by more than just money now, wishing to consider where their money is invested as well as how much it earns. The M&S Ethical Investment Fund is perfect then for this type of conscientious investor and is also expecting to generate good returns too. In fact an ethical fund topped the charts of all investment funds only last week, so there is clearly plenty of growth potential. The fund will be managed jointly by Jupiter Asset Management and Sinopia Asset Mgt, two organisations with good track records in the ethical investment arena. For those wishing to learn more about the new fund there is information available via the Marks and Spencer website.
The decision by Gordon Brown to review the state of social care in order to make them more affordable and fairer for everyone has been welcomed by Saga Insurance. The insurer has asked for steps to be taken as quickly as possible to help those who need it but also advises people to take independent financial advice in the meantime to ensure they make the best decision. Saga Insurance research shows that the typical cost of a 4 year care home stay is expected to almost double in the next twenty years, from GBP112,000 to GBP223,000. A Saga Insurance spokesman said that it was vital to get professional financial advice since it could help inheritances be protected rather than seeing it all eaten up in care fees as is currently the case. More information about Saga Insurance can be found within Moneygossip.co.uk.
Abbey National is about to introduce some new investment bonds, including ones specifically for children, the over 50s and also a fixed rate option. The fixed rate bond pays interest at 6 percent per annum gross over a 12 month period while the over 50 year old only deal offers 6.1 percent for the 3 year term. The child bond also pays 6.1 percent, but over a four year period. An Abbey National spokesman said that these offers were excellent and highlighted the excellent value for money savers can currently get with their investments. What is also important, said the representative of the Abbey National, is the security and peace of mind provided by an organisation the size of the Abbey, part of the giant Santander Group.