moneynet in the press

Banbury Guardian – 26th April 2007

BRIEFING TODAY

Rising costs likely to slow the housing market down. A widely anticipated base rate rise next month and the introduction of the new Home Information Packs (HIPs) on June 1 are likely to put the brakes on the UK property market, Moneynet.co.uk has warned.

Most commentators are now forecasting a 0.25 per cent rate rise to 5.5 per cent on the back of this week’s news of the leap in inflation figures as reflected by the Consumer Prices and Retail Prices Index.

And with impending HIPs legislation likely to add an additional £1,000 burden to the cost of selling a home, Richard Brown of Moneynet.co.uk said that homeowners and buyers are likely to be caught in a double whammy of rising costs.

Evening Standard (London) (Homes & Property) 25th April 2007

Card Warning

If you are a fan of store credit cards, you should beware of rising interest rates. John Lewis, for example, has announced a rise of 1.4 per cent APR, taking it to 16.9 per cent. According to Moneynet chief executive Richard Brown: "Some of our major high-street stores are charging nearly six times the base rate, offering so-called special incentives such as 10 per cent discounts on new card accounts". Better to be overdrawn. For more information, see www.moneynet.co.uk.

Independent on Sunday (Business) 22nd April 2007

Store Cards: shop – and then drop

Store cards have long been the forbidden fruit of personal finance.

They are easy to take out, convenient and offer juicy discounts. But they usually leave a nasty aftertaste if gorged on. Annual percentage rates (APRs) as high as 29.9 can wipe out the value of any savings you make if left unpaid for too long.

Holders of John Lewis store cards are among the latest to be stung with rising interest rates: the provider hiked the APR from15.5 to 16.9 at the start of this month. Cash advances – taking money from a hole in the wall on the card – soared to 18.9 per cent.

But industry specialists are critical. "While John Lewis store cards are far cheaper than some, this latest round of APR rises will serve as yet another blow to consumers," says Richard Brown at the price-comparison service Moneynet.

IFAonline.co.uk – 20th April 2007

Added costs 'will stall property market'

Richard Brown, chief executive of Moneynet.co.uk, says the changes could add thousands of pounds to the cost of selling a home, putting the UK property market on temporary hold.

Commentators are forecasting in interest rate rise of 0.25% to 5.50% on the back of this week’s leap in inflation figures, as reflected by the Consumer Prices and Retail Process Indices.

He also warned homeowners need to watch out for other stings in the tail, such as arrangement fees and booking fees, which have increased substantially over recent years. Base rate jumps and the introduction of Home Information Packs (HIPs) means property sellers are likely to put their plans on ice, an expert warned.

Mortgagestrategy.co.uk – 20th April 2007

Base rate rises and HIPs could put brakes on property market

A potential rise in the Bank of England base rate rise next month and the introduction of Home Information Packs in June are likely to put the brakes on the property market, Moneynet.co.uk warns.

Most commentators are now forecasting a 0.25% rise following this week’s news of the leap in inflation figures, says Moneynet.co.uk.

Birmingham Post (Main) – 19th April 2007

Double trouble looms for property market

A widely anticipated base rate rise next month and the introduction of the new home information packs on June 1 are likely to put the brakes on the UK property market, Moneynet.co.uk warned yesterday.

With impending HIPs legislation likely to add an additional £1,000 burden to the cost of selling a home, chief executive Richard Brown believes homeowners and buyers are likely to be caught in a double whammy of rising costs.

Mr Brown cautioned: “A further rate increase is bound to slow the market as the effects of previous rises since last year are only just properly filtering through. Another quarter per cent will not only be hard on existing mortgage holders, but will put home ownership out of reach of many potential first time buyers.

Easier.com (web) - 19th April 2007

Base rate rise and HIPs cast dark cloud on property market

A widely anticipated base rate rise next month (May) and the introduction of the new Home Information Packs (HIPs) on 1 June are likely to significantly put the brakes on the UK property market, Moneynet.co.uk has warned.

Most commentators are now forecasting a 0.25 per cent rate rise to 5.50 per on the back of this week’s news of the leap in inflation figures as reflected by the Consumer Prices and Retail Prices Index. And with pending HIPs legislation likely to add an additional 1,000 burden to the cost of selling a home, online data comparison site Moneynet.co.uk chief executive Richard Brown said that homeowners and buyers are likely to be caught in a double whammy of rising costs.

Easier.com (web) – 7th April 2007

Savers missing out on substantial interest

Huge gap between e-savings and traditional High Street products boosts lenders’ profits, reports Moneynet.co.uk. Millions of savers are likely to be losing out on thousands of pounds in interest because of the massive disparity between rates for online, e-savings accounts and ordinary instant access High Street savings accounts, according to new research by personal finance data analyst Moneynet.co.uk.

Eastern Daily Press (Main) – 7th April 2007

Savers count cost of disappointing interest rates

Millions of savers are likely to be losing out on thousands of pounds in interest because of the massive disparity between rates for online, e-savings accounts and ordinary instant access High Street savings accounts. The warning was sounded by data analyst Moneynet.co.uk, which said that top-of-the-range internet instant-access accounts such as Icesave’s Easy Access and Birmingham Midshires’ Websaver accounts delivered above-base rate interest of 5.7pc – vastly superior to the likes of Cheltenham & Gloucester’s popular Cheltenham Gold account, which pays a below-inflation level of 1.7pc on deposits of £25,000 and more.

Birmingham Post (Main) - 7th April 2007

Give your finances a spring clean

A number of free-to-use websites including moneyfacts.co.uk, Moneynet.co.uk, firsthelpline.com and enrtyhelpline.com – can help you ascertain if you are making the most of your money.

Depending on the size of your mortgage, this will show whether you are better to opt for a mortgage, this will show whether you are better to opt for a mortgage with a lower rate and higher application fee or vice versa. "If you only do one thing to improve your finances, you really should investigate whether you can make savings in this area," said Richard Brown, chief executive Moneynet.co.uk.

Financial Advisor – 5th April 2007

Tesco and RBS moot price sit link-up

Tesco and RBS could launch a price comparison website to compete with Moneynet.co.uk, moneysupermarket.com and confused.com. The move is believed to have been prompted by the effect consumer sites have on the sale of insurance and credit cards. Moneynet.co.uk has already challenged whether or not a consumer offering from a bank and a supermarket can claim any form of independence.