Natwest Bank has just announced its latest student current account offers, with interest free overdrafts, laptop savings and reduced rail fares all available.
This time of year sees all the major banks introducing their student offers, and the one from the Natwest Bank looks like a very good one. Of particular interest to students is the size of the overdraft, which starts at GBP1,250 with the Natwest, going up to GBP2,000 by year five. They are also offering a GBP100 discount of Asus laptops as well as GBP50 off 3 mobile broadband.
The Natwest current account for students also makes it easier for them to travel, with a railcard that can save over GBP120 per year on travel. For anyone thinking of signing up online do it before the end of October and the Natwest will throw in a Microsoft Lifecam as well as everything else they offer.
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.
A spokesman from the Abbey National explained that the need to manage an economy that is slowing down meant it was highly unlikely to see the interest rate increased, since that would slow it further. The rise in inflation, up to 3 percent in April also meant that a rate reduction was not going to happen since that would further fuel the inflation rate.
Looking forwards the Abbey National feel there may be a cut in the interest rate later in the year, though it needs the inflation rate to be kept under control for that to happen.
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.
The figures provided by Northern Rock show 1.18 percent of customers are regularly missing mortgage payments, which is an increase of 300 percent compared with 12 months ago. The upshot of missed payments is arrears, with the number of people now in this state also up by around 300 percent.
The worry for everyone looking at the housing situation, not just Northern Rock, is that these arrears can turn into repossessions, especially where negative equity becomes a problem, such a situation will be affecting many homeowners who bought their house within the last two years.
