LV becomes latest insurer to share savings being made from fewer claims by refunding customers hit by virus By Miles Dilworth For The Daily Mail Published: 22:00 BST, 5 May 2020 | Updated: 23:37 BST, 5 May 2020 LV’s refunds are for workers waiting on furlough payments or self-employment support, or those who lose jobs … Read more
Millions of Britons are either dipping into their savings or getting into debt as their incomes are being dented by the coronavirus pandemic, a new survey has showed. Nearly a third of people in the UK have had to dip into their savings while a fifth have taken on debt, with the younger generations the … Read more
Stick or twist: NS&I fixed-rate savings cuts bite – should you stay… or cash out and move your money elsewhere? NS&I cut 10 fixed-rate accounts available to existing savers on 1 May It changed course on Premium Bond cuts but has stuck with these They affect savers renewing after 1 June or changing to a … Read more
In almost every part of our lives, priorities are shifting, with safety and prudence the new virtues. In future, more people may want to preserve their money, rather than maximise returns: the return of their capital is, in other words, more important than the return on their capital. Growth will be an added extra, rather … Read more
A Bank of England scheme designed to provide banks with cheap money to lend to small businesses has handed out an enormous £6billion in its first week, official figures reveal. In an announcement which revealed the speed and scale of the economic crisis caused by the coronavirus, the sum pumped into banks in the first … Read more
A record number of savings accounts have disappeared over the last month as coronavirus shocked the savings market, new figures show. There were 180 savings accounts and tax-free Isas of all term lengths pulled from sale following a pair of Bank of England base rate cuts in March, according to research from financial information website … Read more
Pointer: New tax year started on April 6 Thanks to the upheaval in our lives over the past few weeks, the start of a new tax year on April 6 will have passed many of us by. But it heralds a raft of key changes – some of which could have a positive effect on … Read more
There’s a new bank in town with a competitive one-year fixed-rate of 1.49%… but is Allica Bank a safe spot for your cash? Its one-year fixed-rate is enough for ninth place in our savings tables It pays more than well-known names like Goldman Sachs’ Marcus The London-based bank received its licence in September 2019, and … Read more
Savers have been handed a double blow as two market-leading easy-access deals have both disappeared within a week of each other. Marcus Bank cut its rate from 1.3 per cent to 1.2 per cent today, just a week after Virgin Money cut its then-market-leading 1.31 per cent Double Take E-Saver to 1.01 per cent. Although … 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