The Royal Bank of Scotland is seeking to attract this year’s university graduates with its Graduate Royalties account, which is aimed at helping students manage their finances during their first three years at work. The account provides a three year interest-free stepped overdraft facility of up to £2,000 or the option of an interest-free loan [...]
The Post Office is launching a new credit card and has at the same time published research showing that almost two thirds of credit card customers are attracted by offers and incentives and yet are not making the most of the offers available. According to the survey, 19.6 million, or 60%, of card users don’t [...]
The Financial Services Authority (FSA) has published its response to a discussion paper issued in November 2006 and has plans to further investigate a number of concerns it raised regarding the strong growth of private equity-led acquisitions, such as the takeover Boots Alliance, the pharmacy group. Whilst the FSA considers its supervision of the sector [...]
According to Government statistics, the rate of inflation continued to decrease in May, although this is unlikely to affect the prospect of further interest rate rises. The Consumer Price Index, which is the Government’s preferred record of inflation, increased by 2.5% during the month, compared with 2.8% in April. The decrease is attributed to a [...]
New data from the Council of Mortgage Lenders (CML) suggests that interest rate rises have increased mortgage interest payments for first-time buyers to their highest levels for 15 years. The CML’s regulated mortgage survey shows that in April 2007, first-time buyers were paying 18.7% of their income on mortgage interest. This compares with 18.3% in [...]
Nationwide has taken first place in the uSwitch.com annual credit card survey, for the second year running, with 94% of customers reporting satisfaction with the service received. Nationwide provides its customers with a preferential order of repayments and does not include exchange rate loading fees for overseas use of its card. American Express came second [...]
Prudential has decreased the interest rate on its Lifetime Mortgage, with immediate effect, from 6.38% monthly (6.57% AER, 6.80% APR), to 6.17% monthly (6.35% AER, 6.60% APR). The Lifetime Mortgage allows borrowers to continue to own their property for the duration of the plan, on condition that they are resident. There are no monthly repayments, [...]
The Nationwide Building Society has launched a new range of Fixed Rate ISA Bonds. Two versions are offered, one year and two year bonds, and both pay a guaranteed annual rate of 6.05%. Those who wish to draw a monthly income from their bonds receive a 5.85% annual interest rate. A maximum opening investment of [...]
UK banks across the high street have voiced their support in principle for banking mobility across EU member states. The proposals being considered in Brussels involves determining how easily EU citizens should be able to transfer bank accounts to other member states. According to the British Banks Association (BBA), support for a process of “mobility, [...]
