December 2007 Archive

Savings up 3-fold

There has been a three-fold increase in the level of savings paid into building societies in November compared with the same time last year.

Gap widening in CTF savings war

The gap between the highest and lowest interest rates available on a Child Trust Fund (CTF) savings account has continued to widen.

Saving levels drop £11bn

The level of private savings in the UK fell by £11 billion during the three months to October, according to research from unbiased.co.uk.

Norwich Union fined £1.26m by FSA

The Financial Services Authority (FSA) has fined Norwich Union Life £1.26 million for its failure to implement effective systems to protect customers' confidential information.

Bradford & Bingley: What If? Savings at 6.25%

Bradford & Bingley has launched a new savings accounts at 6.25 per cent p.a. gross (5.75 per cent AER).

Savings up to £184 a month

British regular savers are now putting aside £184.36 a month, up 6.12 per cent from the summer - but the new year will see money getting tighter.

2007: The year of subprime and crunches

Free cash machines spread to disadvantaged areas

Over 1.5 million people in low income areas of the UK are set to have access to free cash machines by summer next year.

43% financially fat, 1% fit

Just one per cent of Brits can be classed as financially fit - while 43 per cent are described as overweight.

Leeds Building Society loses personal staff data

Leeds Building Society is the latest institution to suffer data loss - losing details of its own workforce.

Christmas 2008 planning starts now

A plethora of high interest regular savings accounts mean now is the time to start planning for Christmas next year.

Coventry: New members' bond

Coventry Building Society is launching a new members' bond on Tuesday December 11th 2007.

Nationwide offers i-Current accounts

Nationwide customers can now access their accounts on the Apple iPhone and iPod Touch.

Northern Rock chief: Sale 'not this side of Christmas'

A sale of Northern Rock may still be some way off, the chairman of the beleaguered mortgage lender has admitted.

Kids' Christmas £2.4bn cash windfall

British children are to receive £2.4 billion this Christmas - as uncles, aunts and grandparents stop shopping and hit the cheque book.

Bringing up a child costs £186K

The cost of raising a child has increased by 33 per cent over the last five years to £186,000, according to new research.

Northern Rock: One bidder in, one out

Investment group Olivant has outlined its plans for a Northern Rock deal, while another is reportedly stepping out of the fray.

Coventry holds 50 Plus eSave rate

Coventry Building Society is to hold the interest rate on its 50 Plus eSave account, despite the Bank of England cutting the base rate.

Banks 'outing gay couples'

Generic bank, insurance and other financial forms are inadvertently outing gay couples, according to new research.

RBS faces £950m subprime bite

The Royal Bank of Scotland (RBS) is set to write £950 million off due to its exposure to the US subprime mortgage market.

£20K reward as taxman admits further data loss

HM Revenue & Customs (HMRC) lost people's personal data on six further occasions other than when two discs with the personal details of 25 million individuals went missing - as the fear of ID fraud grows.

Average Brit has £33,000 pension

The average Briton has savings of as much as £33,000 to draw on, a study out today reveals.