moneynet in the press

The Observer - 31st July 2005

IDENTITY PROTECTION PLANS: BUY IF YOU MUST, BUT DON'T RELY ON IT

"Many of these policies are flawed in that they do not offer full financial compensation to victims of fraud." says Richard Brown. Few, if any, of them appear to offer insurance protection against actual financial loss in the event that a credit company, for example, refuses to cover the loss - and this is what consumers really need. While ID protection services may have a degree of value, they shouldn't be used as a reason to take out an otherwise uncompetitive product."

The Times - 30th July 2005

TABLE TALK

Richard Brown, chief executive of Moneynet, the online comparison service, says "Despite what lenders say, it is nothing like as straightforward as hopping from one credit card to another and there is real danger that you can jeopardise your credit rating. One of the key questions asked by lenders as part of the credit-scoring process is 'how long have you held your current account?'. A short period of time with your bank could reduce your score."

The Observer - 24th July 2005

NATIONWIDE ACCOUNT OFFERS NEW RATES FOR OLD

Richard Brown said that despite it having one of the leading market rates, it was 'rather a complicated product'. He says another product worth considering is the Sixty Plus Saver Account from the Coventry Building Society which also guarantees to match base rate until June 2010 but also offers an additional bonus of 0.75 per cent for the first year, giving a rate of 5.5 per cent in year one.

Financial Times - 23rd July 2005

BANKS GET IN FIRST WITH CUT TO SAVINGS RATES

"We are seeing many providers reducing their fixed rate mortgage and savings accounts in anticipation of the base rate cut, with many having moved twice over the past month." said Richard Brown. "It is disappointing however, to see that many lenders are taking this opportunity to increase their margins at the expense of their loyal savers by reducing their fixed rate savings rates by more than the mortgage rates," he adds.

Daily Express - 20th July 2005

ALERT ON HIDDEN BANK-SWITCH HAZARDS

Moneynet's Richard Brown said: "despite what lenders say, it is nothing like as straightforward as hopping from one credit card to another, and there is a real danger that account holders can jeopardise their all-important credit rating. One of the key questions asked by lenders as part of their credit scoring process is 'How long have you held your current account?'. A short period of time with your bank could result in a reduced credit scoring."

The Scotsman - 16th July 2005

A BANKING REVOLUTION...OR JUST A WAY TO GET US TO RACK UP MORE DEBT?

Richard Brown, the chief executive of financial data site moneynet.co.uk, said: "We feel concerned that lenders are inviting account holders to rack up yet more debt. If you do borrow money via this account, the sensible option is to clear the debt within the ten months. We are likely to see a lot more accounts with bells and whistles, but borrowers should ask themselves whether it is worth trading customer loyalty with their existing provider for a leap into the unknown."

Daily Express - 13th July 2005

IDENTITY FRAUD INSURANCE SLAMMED AS 'USELESS'

Richard Brown, of financial analyst Moneynet, said: "Few, if any, of these services appear to offer insurance protection against actual financial loss in the event that a credit card company, for example, refuses to cover the loss. Surely this is what consumers really need."

The Times - 9th July 2005

BANKS TIGHTEN THE SQUEEZE ON LOYAL SAVERS

Richard Brown, chief executive of Moneynet, says: "Given the opportunity for lenders to reduce their mortgage rates, it is disappointing that they seem to have chosen to maximise their margins rather than pass not he potential saving to their loyal customer base."

The Observer - 3rd July 2005

LITTLE 'UNS ACCOUNTS THAT PAY BIG RATES

"High street lenders are particularly aggressive when it comes to promoting their kids' accounts as they hope to retain the business as the child turns into an adult", says Richard Brown of data provider, Moneynet. "But with a difference of several per cent between the best and worst paying accounts, parents should really do their homework."