moneynet in the press

Sunday Express – 28th January 2007

TURN THE TABLES ON GREEDY ENERGY FIRMS

Simply Switch, uSwitch, Moneynet.co.uk, unravelit.com, Moneysupermarket.com and Switchwithwhich.co.uk all offer free price comparison and switching services.

Observer (Business & Media) – 21st January 2007

DON’T SWITCH IN HASTE

Richard Brown of financial comparison analyst Moneynet.co.uk says “Borrowers determined to switch should firstly estimate the likely costs involved in moving the mortgage. These should include lenders’ arrangement fees, legal and valuation fees as well as exit fees and redemption penalties from their existing lender. Only if these sums really stack up should you consider moving to a new lender.”

Sunday Mirror (Main) – 21st January 2007

NEED TIPS TO GRAB A FIX

Richard Brown of online financial analyst Moneynet.co.uk said “Borrowers determined to switch should estimate arrangement fees, legal and valuation fees as well as exit fees and redemption penalties from their existing lender.

Daily Star – 23rd January 2007

COUNTING THE COST OF A FIX

Richard Brown, of financial data firm Moneynet.co.uk said “Don’t be panicked into remortgaging immediately, because many lenders have yet to announce their new rates. “Mortgage lenders like base rate increases, not least because they know it will trigger a stampede for fixed-rate mortgages to protect against further increases. But this time many lenders have withdrawn or sold out their best deals already.”

The Lady – 23rd January 2007

CHARGES OF THE BANK BRIGADE

Both Moneysupermarket and Moneynet.co.uk have information on the best current accounts available.

Oxford Mail (Supplement 2) – 9th January 2007

‘CUTTING THROUGH THE JARGON AND GIVING YOU THE FACTS STRAIGHT’

Slash the cost of a bank overdraft: Richard Brown at www.moneynet.co.uk says many banks have removed the buffer zone which protected customers from a fee if they accidentally slipped into the red by less than £10. He added “it’s so easy to avoid this. Most people will find their bank quite happy to set up a temporary overdraft facility.”

Liverpool Echo Online – 8th January 2007

AVOIDING THE THREAT OF INSOLVENCY

Whereever possible, avoid withdrawing cash on a credit card. Richard Brown, at Moneynet, says handling costs can be as much as 2.5% of the amount withdrawn, and interest payable on the advance can turn this into a long-term disaster.

Sunday Telegraph (Money) – 7th January 2007

SEE THROUGH THE SALES PATTER

HSBC is offering a typical APR of 7.3% for loans between £7,000 and £25,000 (reduced from its previous rate of 7.6%). It also promises to refund a quarter of the interest paid during the term of the loan if the customer meets certain terms and conditions. For those who comply, this gives an effective interest rate of 5.6%, assuming £10,000 is borrowed over three years.
“5.6% is a very attractive rate, even if you do have to wait until the end of the loan to benefit,” says Richard Brown of Moneynet, the price comparison website. “However, if you pay the loan off early you lose this benefit, and the rate is a far less attractive 7.3%. This sale price doesn’t look so good when compared with the best buys.”

Daily Express – 3rd January 2007

MAKE IT A PROSPEROUS NEW YEAR

Many greedy banks have removed the buffer zone which stops customers from being charged penalties if they accidentally slip into the red by less than £10, warns Richard Brown, chief executive at online deal finder, Moneynet.co.uk.
If you risk going overdrawn, get authorisation first. “Most banks should be happy to set up a temporary over-draft facility. Asking costs nothing and could bring big savings,” he says.

Money Market – 1st January 2007

TESCO’S CREDIT CARD RATE BEATS RIVALS

Also, earlier in 2006, comparison web site Moneynet.co.uk said its research showed the loyalty points offered by supermarkets were not enough to compensate for the high rates of interest charged. It singled out Tesco’s Bonus card for comment, claiming that the interest rebate was nullified by the fact that the 12.9 per cent rate charged was more than double some of the cheaper rates offered elsewhere.