Bank of England could turn interest rates NEGATIVE as part of efforts to prop up the economy amid coronavirus crisis, says governor Andrew Bailey Bank of England governor Andrew Bailey has been giving evidence to MPs He said it would be ‘foolish’ to rule out turning the Bank interest rate negative The UK government has … Read more
Savers were potentially handed more bad news today with the Bank of England suggesting base rate could remain close to historically low levels over the next few years. While policymakers kept the base rate, which helps determine borrowing and savings rates, at 0.1 per cent today, it forecast it could increase to just 0.2 per … Read more
Santander unleashes another 123 current account rate cut on the SAME DAY another one bites, costing customers hundreds of pounds in lost interest Santander today cut the interest rate on 123 accounts from 1.5% to 1% It has handed savers more bad news with a cut to 0.6% in August Savers with £20,000 in the … Read more
Top 5% savings rates will be extinct soon as Nationwide cuts interest on its FlexDirect current account – but there is one last chance to hunt it down… Nationwide’s FlexDirect account pays 5% interest for 12 months on up to £2,500 It is the last 5% savings deal in Britain, but will be cut to … Read more
Banks are set to make more than £600 million in extra interest paid by cash-strapped homeowners taking mortgage holidays, Money Mail can reveal. Campaigners say the vast profit lenders will make from the crisis is ‘disgraceful’ and are demanding they scrap additional interest charges. The breaks are seen as a lifeline for borrowers facing financial … Read more
An increasing number of savers with large pots are turning to platforms as they look to safely spread their money across multiple accounts to benefit from savings protection amid market turmoil caused by coronavirus. Savings platforms Flagstone, Hargreaves Lansdown Active Savings, Octopus Cash and Raisin allow savers to open accounts of different lengths with multiple … Read more
Savers face more misery as interest rate cut looms… but mortgages could get EVEN cheaper By Hugo Duncan for the Daily Mail Published: 21:52 BST, 15 January 2020 | Updated: 21:52 BST, 15 January 2020 Long-suffering savers are braced for a further hit to their nest eggs as pressure mounts on the Bank of England … Read more
Landlords suffered a triple-whammy hit this week as three popular tax reliefs were axed or scaled back as the new tax year began. Mortgage interest tax relief, capital gains tax exemptions for ‘accidental’ landlords – those who held onto homes they once lived in – and letting relief were all cut. The raid came as … Read more
Interest from wealthy buyers has soared for luxury underground bunkers in South Dakota since the outbreak of the global coronavirus pandemic. The Vivos xPoint bunkers, which are built on a former US Army base near the Black Hills area of South Dakota, come fully equipped with swimming pools, tennis courts, exercise spaces, pre-stocked gourmet food, … Read more
The last 5 per cent savings deal in Britain has gone up in smoke, with Nationwide Building Society slicing the interest rate on its popular FlexDirect current account to 2 per cent from May. The move came in a series of cuts that decimated Britain’s biggest building society’s savings rates, with some legacy accounts now … Read more