Young savers are losing out on thousands of pounds because of a failure to invest for their future, it is warned today. Investment experts are calling on the regulator and the industry to act now to ensure children get the most out of their savings. The Financial Conduct Authority (FCA) already warns that pension savers … Read more
A British woman who spent £100,000 on her Sri Lankan husband before he was murdered in an alleged blackmail plot three years ago is fighting to recover her money. Diane Peebles, 61, from Edinburgh, was dubbed the ‘British Shirley Valentine’ after she fell in love with hotel worker Priyanjana De Zoysa, who was 33 years her … Read more
It has not been the easiest few months for savers. Rates were already languishing before the coronavirus pandemic, but now they are racing quickly to to the bottom. Two Bank of England base rate cuts and an economic shutdown, along with people piling money into the safe haven of savings accounts, has resulted in the … Read more
Savers piled 303 per cent more cash into easy-access accounts during March and April compared to the same period last year, as banking industry data shows how people opted to keep cash at hand as the coronavirus pandemic unfolded. Some £11billion was poured into easy-access accounts over the two-month period, compared to just £2.7billion in … Read more
Surge of wealthy savers turn to platforms to spread their cash and risk since coronavirus pandemic hit in March The likes of Hargreaves Lansdown and Raisin saw a surge of interest in March That was in the immediate aftermath of dramatic stock market falls Since then platforms have continued to see interest from savers as … Read more
Three months of brutal cuts to savings rates means the best cash Isa with no strings attached pays just £130 interest a year on the full £20,000 tax-free allowance. And falls in tax-free rates mean the best Isa available anywhere at the moment – a two-year fix – pays less interest than the best easy-access … Read more
BBC invites staff to apply for voluntary redundancy as it attempts to make £125m in savings because of coronavirus pandemic It asked public service staff to make voluntary redundancy expression of interest Lord Hall said delaying means-testing of the free TV licence for over-75s is costly He said it was a ‘significant sum at a time … Read more
More than 600 savings deals now match or beat inflation after prices rose by their lowest level in May since the 2016 Brexit referendum, but with rates at record lows the news will bittersweet for savers. The consumer prices index measure of inflation stood at 0.5 per cent in May, a four-year low and the … Read more
Savings rates plunge to lowest level on record during coronavirus crisis with the average account paying just 0.27% By Daily Mail City & Finance Reporter Published: 22:21 BST, 15 June 2020 | Updated: 22:21 BST, 15 June 2020 Savings rates have plunged to the lowest level on record during the Covid-19 crisis with the average … Read more
Goldman Sachs-backed Marcus Bank has brought back its one-year fixed-rate deal, but the account now pays a lower rate than its easy-access deal. The bank launched a 12-month bond paying 1.45 per cent towards the end of March, expanding its offering beyond its sole easy-access account which at the time was paying 1.3 per cent. … Read more