Personal Finance News

27 Oct

Nearly three quarters of people confused by government financial support for small businesses

At the end of last week, the Chancellor announced improvements to the winter support package to help small businesses struggling in the crisis. However, research from Tommys Tax app (www.tommystax.com) has revealed that nearly three quarters (73%) of people find the support from government ‘confusing’ and 85% say that the new package is still not enough. On […]

21 Oct

Savers becoming less materialistic as result of the pandemic

As part of a survey of more than 8,000 customers, Paragon found that 40% of savers now want to prioritise spending money on experiences they can share with loved ones over material possessions, whilst more than a quarter (27%) felt they were less materialistic as a direct result of the pandemic. Bank of England data […]

20 Oct

Sainsbury’s Bank launches leading no-fee reward credit card offer

Sainsbury’s Bank has enhanced its Nectar Credit Card  with a new, enriched Nectar offer. Sainsbury’s customers can collect 10,000 Nectar points, worth £50, when they spend over £400 in Sainsbury’s, Tu Clothing or Argos in the first two months after opening the account. The new credit card offer ranks highest for earning rewards compared to […]

14 Oct

£300m Lost Every Year Due to Car Dealership Commission Driving Hard Bargains

Finance experts TotallyMoney reveal how much customers could save by avoiding finance options at car dealerships amid the Financial Conduct Authority’s (FCA) crackdown on unfair commission agreements. A staggering £300m is being lost every year across the UK due to commission-focused dealerships, FCA reports* The majority of new car registrations (9 in 10) were financed through dealerships in 2018† Nearly three […]

9 Oct

Survey shows that Gen-Z are pandemic’s biggest spenders

In a survey involving more than 8,000 customers, Paragon Bank found that 21% of Gen-Z savers were spending more than before during the pandemic – this is 160% higher than the overall average of 8%. Customers aged 18-24 years old were also twice more likely to have withdrawn money from savings to pay for essentials […]

6 Oct

28% of Brits believe they may have lost a pension or let one become dormant

More than a quarter (28%) of all British adults believe they may have lost track of one of their pensions or let it become dormant, according to a new study by Gretel, the free online service which helps people track down lost bank accounts, investments, life insurance and pensions. Changing jobs is a common way […]

29 Sep

Online car finance purchases are expected to rise by a third

Online car finance purchases are expected to rise by 33%, accounting for more than half (56%) of transactions for the first time ever. The move away from the traditional dealership model comes as Brits become more open to shopping around for their own finance deals, with 60% saying searching online for car finance is their […]

25 Sep

Aldermore bank increases rates for business savings accounts

Aldermore bank has today increased the rates on a range of its fixed rate business savings products. The following business savings rates will be available immediately: 6 Month Fixed Rate – increase from 0.55% to 0.75% 1 Year Fixed Rate – increase from 0.75% to 1.00% Ewan Edwards, director of savings, Aldermore comments: “We’re committed to offering competitive […]

22 Sep

New TotallyMoney Credit Assistant App reveals costly borrowing blind spots

Finance experts TotallyMoney have warned that consumers could be unwittingly losing hundreds of pounds by using certain financial products against their advantage. Research reveals: A massive 20% drop in income and 10 million people on the furlough scheme during coronavirus has seen many turn to credit to get by.│ However, TotallyMoney has warned that with interest-free overdrafts […]