If like many people you’ve become rather disillusioned with endowment policies – particularly if you have a mortgage-related endowment and you’re facing a shortfall – you may be wondering what to do with it.
Tag: Interest Rates
Motley Fool: Find £100 Extra A Month To Be Safe
Unsurprisingly, interest rates have just been raised to 5%. I’m not going to dwell on the obvious. (Expect your mortgage rate to rise soon, look out for better savings accounts – blah blah blah). Instead I’m going to consider how to stay solvent and prosper during a prolonged period of rising interest rates.
Motley Fool: Start Saving With Just A Quid!
First the good news: according to a new survey from Sainsbury’s Bank, there are 39 instant-access, easy access and notice savings accounts which pay annual interest of 5% or more before tax. Now the bad news: the majority of these accounts are aimed at serious savers, because only twelve pay 5% gross AER on balances of £1 or more (including Sainsbury’s own Internet Saver Account). One problem with these high-paying accounts is that many rely on introductory bonuses to boost their interest rates, which then disappear after, say, six to twelve months. In addition, a number impose restrictions or penalties on withdrawals. For instance, several table-topping accounts pay no interest in any month during which a withdrawal is made. So, take out just £20 and you lose one month’s interest on your entire balance, even if you have thousands of pounds sitting there. Ouch!
This Is Money: Interest Rates Rise To 5%
The Bank of England has raised interest rates to their highest level for five years, putting up mortgages and the cost of Christmas
MoneyExpert: New Mortgage Range Ahead Of Base Rate Review
Alliance & Leicester has announced changes to its range of specialist mortgages to commence on November 9th, the same day that the Bank of England’s interest rate is reviewed.
This Is Money: Interest Rates ‘will Rise Today’
The Bank of England looks certain to raise interest rates today, pushing the cost of borrowing back to a five-year high
This Is Money: House Prices Top £200,000
The average UK home is now worth more than £200,000, with the Bank of England’s August interest rate rise failing to quell demand
Motley Fool: Give Credit Card Cheques The Chop
This morning my new credit card provider kindly sent me a couple of credit card cheques ‘in case they’ll come in handy’. At least this lot didn’t come with the usual earnest attempt to persuade me to ‘treat’ myself, which is what my last card provider always urged me to do. I fed so many of the damn things through my shredder that it almost went into overdrive!
This Is Money: Mortgage Rates To Hit Five-year High
Homebuyers face a steep rise in the cost of their mortgages this week when the Bank of England is expected to increase interest rates
Scotsman: No Strings At Britannia
Britannia Building Society has launched a brand new savings product with an interest rate of 7.5 percent.