October 9th, 2024 | Andrew Hagger | News

 As part of its Shop Small campaign, American Express is pledging a total of £100,000 to support small businesses this Autumn. As a longstanding backer of the high street, American Express is calling on its Cardmembers to nominate their favourite independent small businesses through a new ‘Champion Small’ initiative, with 10 businesses nationwide each set to receive a £10,000 grant. These grants can be spent by businesses to support growth, for example by purchasing new equipment, shop signage, or for spending on marketing and advertising.

American Express is encouraging its Cardmembers to get involved by entering everyone who nominates a small business into a prize draw to win a £1,000 statement credit. To nominate a business, Amex® Cardmembers can visit the Champion Small website between 7 October – 7 December 2024.

Shortlisted merchants will be put forward to an expert judging panel who will score them against criteria including customer reviews, product innovation, community impact and how the grant will positively benefit their business.

The judging panel – which includes Michelle Ovens CBE, Director of Small Business Saturday UK; Golda Rosheuvel, actor and co-owner of small business Imma The Bakery; Andrew Goodacre, CEO of the British Independent Retailers Association; Tony Sophoclides, Strategic Affairs Director at UK Hospitality; and Dan Edelman, General Manager, Merchant Services at American Express – will then decide on 10 winners.

American Express has a long history of championing the high street through its Shop Small campaign and is proud to be the founder and principal supporter of Small Business Saturday in the UK, which takes place in the UK on 7 December, coinciding with the closing date for Champion Small nominations.

Dan Edelman, VP & UK General Manager, Merchant Services at American Express, said: “Over a decade since its launch, our Shop Small campaign continues to encourage people out onto the high street, and we are thrilled to extend our backing of small business this year by offering 10 Champion Small grants. Small, independent shops are hugely valuable to local communities across the UK and our hope is that this funding helps these businesses continue to thrive.”

Golda Rosheuvel, actor and Amex Shop Small Ambassador said: “Small businesses bring so much diversity to the high street and are an important part of my life, not least as the proud co-owner of Imma The Bakery. It’s my privilege to be part of the judging panel for Champion Small. I can’t wait to learn about the nominees and their stories – it will be great to hear how they are making a difference to their customers and local communities.”  

Director of Small Business Saturday UK, Michelle Ovens said: “Small Business Saturday has always been about celebrating the phenomenal contribution small businesses make to our lives. So it is wonderful to see this new initiative launch by American Express that will not only encourage greater recognition of the UK’s amazing small firms, but also provide much-needed financial support to help them to scale and unleash new innovations.”

For more information on how to participate in the Champion Small initiative please visit: go.amex/championsmall2024 – or search ‘Amex Champion Small’.

October 2nd, 2024 | Andrew Hagger | Uncategorized

Following a busy summer of sport, new research from the Vitality American Express^® Credit Card shows that on average Brits are planning to spend £795 to keep motivated on their health and fitness journeys for the rest of 2024. For the average adult, this includes £17.50 a month on gym memberships, £15.30 on sportswear and £9.70 on fitness apps and subscriptions to stay on top of their fitness goals by the end of the year.

Stay fit, stay warm!

As the days get shorter, colder and darker, changing seasons can make it challenging to keep motivated with two-thirds (67%) of Brits surveyed agreeing that changes in the seasons impact their fitness routine. Cold weather (51%) and darkness (49%) are the most common challenges.

Despite the seasonal change, Brits say there are plenty of reasons to stick to their fitness targets. The mental health benefit that exercise brings is the biggest motivator during winter, with 43% of Brits saying this keeps them motivated. The ability to workout indoors (29%) or eat comfort food post-workout (19%) are also popular motivators.

Over half (52%) of UK adults said they would be motivated to exercise more if they earned cashback as they participated in activities to keep fit. Vitality American Express^® Cardmembers can do just that, earning bonus cashback based on their monthly activity. With a qualifying VitalityHealth or VitalityLife insurance plan, or both, Cardmembers can translate their Vitality activity points – earned from exercising – into bonus cashback.  The more plans and points they have, the higher the cashback rate on their spending. This booster allows Cardmembers to earn up to £20 extra cashback every month, on top of the 1% cashback they already earn on their everyday spending, as standard.

The American Express Vitality Cashback Calculator shows potential Cardmembers just how much extra they could earn, and more information is here.

A summer of sporting inspiration

A bumper summer of sport is also inspiring the nation to keep fit, with almost a quarter (24%) saying they are influenced to spend more on fitness.

Of those inspired by the summer’s sporting moments, 37% said they were motivated by running events. Swimming (36%), football (31%) and cycling (28%) were the next most inspiring sports events for UK adults this summer.

It can often be the human side to sport that inspires. A quarter (26%) of Brits have been inspired by specific sports personalities to exercise more, rising to more than half (54%) of Gen Z adults.

Nikki Edelman, Vice President, American Express: “After an unparalleled summer of sport, many Brits have been inspired to lace up their shoes, pick up their racquets and hit their fitness goals. As the cooler months approach, it is often perceived to be a challenging time to stay motivated, but with 85% of survey respondents planning to keep up their physical health and fitness this winter, Brits up and down the country will be pushing their way through the colder months, with Vitality American Express Cardmembers able to earn cashback as they do so.”

Jonny Kibble, Head of Physical Exercise at Vitality shares his tips for staying active in the colder months saying “Staying motivated in the winter can always be a big hurdle for people to overcome, but maintaining your activity levels in the colder, darker months is not only great for your physical health but also your mental health too. The autumn and winter seasons can often feel like the weather is raining on your parade, especially after enjoying the summer sun so it’s important to have a back-up plan. If you regularly exercise outside, having some indoor alternatives you can use instead will help you to stay motivated and on track whatever the weather. Equally, focus on what you can do rather than what you can’t do. Exercise is meant to be fun, so if you’ve enjoyed spending the summer going for regular cycles with friends in the park, why not find an indoor alternative you can do with the same people, such as spin. Choosing something that fits in better with the seasons, will keep you on track and help you to do the activities you enjoy.”

Walk in the park

When it comes to exercise, walking is the nation’s favourite way to keep fit. Half (50%) of Brits use walking as a way to exercise, with the gym (20%) and running (17%) the next most popular activities. Football is the most popular team sport amongst UK adults; a tenth (10%) of those we spoke to play football at least once a week.

The Vitality American Express® Credit Card is Representative 42.4% APR variable for VitalityLife members and 31.0% Representative APR variable for VitalityHealth members. 18+. Terms and conditions apply. Subject to status.

September 30th, 2024 | Andrew Hagger | News

British garages become playrooms, gyms, and offices as UK homeowners favour conversions to add value and space to their homes

Homeowners in the UK are turning to unused garage space to add extra space and value to their homes, as worries about the economy and a static housing market are encouraging people to improve, not move.

Research from MyBuilder.com, the reliable way to hire tradespeople, found that many UK residents were considering renovating or extending their home rather than moving, with a third (33 per cent) choosing to extend, renovate, or generally improve their existing home.

Recent statistics show that more than half (53 per cent) of garages are not used to house cars. Instead, they often become extra storage areas or dumping grounds, when they could instead be used to create a room in your home. Attached garages can be perfect additions as a separate dining room, playroom or boot room, while detached garages can make perfect home offices or gyms.

Andy Simms, from MyBuilder.com, said that the rise of popularity is not surprising.

“Garage conversions can be remarkably versatile, and actually extremely affordable. In terms of extending your home, it’s one of the most cost-effective ways to gain extra space at a reasonable cost.

“Depending on where the garage is located in comparison to the rest of your rooms, they can provide a multitude of great spaces as well as provide extra storage.

“If you’re considering converting your garage, we’d advise to get an expert in to advise as to whether you need planning, what an approximate cost would be, and even give you inspiration as to what your new room could be.”

A garage conversion can also be turned around in a relatively quick time period – sometimes just two or three weeks. Once the garage is empty, the work tends to begin quite unobtrusively. The garage will be prepared with studwork insulation for the walls, with an electrician needed to install wiring for the required amount of sockets. Depending on the use, a plumber might be needed to install pipework and a radiator for heating.

To finish off the conversion, there may be a door knocked through to existing accommodation, plasterboards and plastering will be applied to the walls, skirting boards will be fitted with any new windows and flooring.

This is likely to cost in the region of £15-20k for most parts of the country and up to £25k for London and surrounding areas. You do not need planning permission for most conversions, but you’ll face roughly a £500 fee from your local Building Control for your application and an inspection fee to sign off your conversion project.

For more ideas and cost guides on garage conversions, please visit https://www.mybuilder.com/conversions/articles/garage-conversion-ideas.

Garage conversion ideas

Experts from MyBuilder.com have put together a list of potential layouts for your converted garage, along with approximate costs for the work. From gyms, to studies, to playrooms, there is an option to suit everyone – and it can be surprisingly affordable.

Office

While garden rooms became popular during the pandemic as people worked from home, many of us are still using a spare bedroom as an office. A garage conversion is the perfect space for an office, with plenty of room for a permanent desk, storage for files, and a comfortable chair. Costs can start from as little as £15,000.

Playroom

Most parents will testify that having the space to keep the kids’ toys out of sight seems a luxury. Few of us have a dedicated playroom for the children, but it could be a solution for the permanent clutter that comes with parenthood. Many attached garages meet the house in the kitchen or living area, meaning that any conversion would be conveniently located for keeping an eye on the little ones while enjoying quieter spaces. Costs start at around £15,000.

Home gym

Finding the time to get to a gym can be difficult, so what better way to use your garage than as a home gymnasium? It’s the perfect space to fit a treadmill, bike and some weight machines. The only problem is you won’t be able to make any excuses not to exercise. Costs start at £15,000.

Craft room

The pandemic led to a rise in “side hustles” with many people indulging their creative sides and earning a little extra money at the same time. Having a dedicated space for this may seem like a luxury, but if crafting is your thing then a garage conversion can work perfectly. There’s enough space to store any equipment, having a table and chair for working on your projects, and you can close the door on any mess in the meantime. Conversion costs for a craft room are around £20,000 with bespoke storage.

Changing room/playroom

Newborn babies may not require many toys to store, but the paraphernalia that comes with them can be vast. From changing tables to bassinets and buggies, having a baby adds to the clutter. Converting your garage into a bespoke changing/storage area, with space for a playroom for older kids, is a great way to utilise your extra space. This conversion would cost approximately £18-20,000, including plumbing for a sink and WC.

Occasional annexe

For those of us with ageing parents who may come to visit, a downstairs annexe with bathroom and snug/sofa bed can be a game changer. It’s also a great space for older children who may like their own space. A conversion like this could cost a little more, in the region of £20k.

Split rooms

Many garages are quite spacious and could be converted into two smaller rooms, allowing for a multi-purpose function. One idea could be to create an office on one side, with a gaming or playroom on the other. The rooms could be split with a wall or a divider, depending on the usage. A conversion like this would cost around £18,000.

False wall room

Many of us use our garages to store equipment such as bikes, or lawnmowers. Converting the space may therefore leave these items without a home. However, some conversions can create a split space that allows the front of the garage to remain as storage. The rest of the room can be used as indoor space, such as a study or cinema room. Costs start at around £16,000.

Kitchen utility room

Interior influences often brag of their utility rooms, which house the practical items allowing their kitchens to stay clear of clutter and aesthetically pleasing. The reality is that most homes do not have the space to facilitate such aspirational spaces – unless the garage is converted. Costs start at approximately £19,000 for this type of conversion, that would require plumbing and storage.

Boot room

For those of us with pets and outdoor pursuits as a hobby, a boot room would be a blissful luxury. Designed to store boots, coats, and outdoor equipment, boot rooms can be beautiful spaces to keep the muddiness at bay. Add plumbing for a sink or even a dog shower. Conversions such as this one start at £20,000.

Dining room

While dining rooms used to be commonplace, open plan living spaces meant the death of a separate space for dining. However, dining rooms are seeing a surge of popularity, and a garage conversion is the perfect space to house one. It’s also a relatively simple conversion, with costs starting at £15,000.

Extra living space

Depending on the location of the garage, it could be used simply to extend your existing living space. Whether that be a bigger living room or kitchen, the extra space could really give your home the wow factor. Conversions like this are slightly more costly if you need to remove walls to open up the space. Costs start at £18,500.

Cinema room

Projectors or huge TVs may not be practical for everyday use in your living room, but home cinemas are a great investment for movie lovers or for binge watching the latest season of Bridgerton in all its glory. The large blank canvas provided by a garage wall is the perfect place for a projector screen, leaving you plenty of room for comfy seats and tables for snacks. Conversion costs would be around £17,000.

Home pub

With the prices of drinks in pubs ever increasing, why not set up your own bar at home? A single garage can provide a great space for a home bar, comfortable seats and a darts board if you want to feel really authentic. Perfect for entertaining the guests or just having a break from working from home. Conversions like this will cost around £17,000.

Office and home school

Home schooling is increasing in popularity, but it can be hard to balance with your own workload. Having a joint office/home learning space is a great solution to this issue – and a garage conversion can provide the perfect area to make this into a reality. A temporary room divider, such as a screen, can be used when more privacy is needed, while still keeping an eye on your children. A conversion like this is quite straightforward, and starts at around £15,000.

September 29th, 2024 | Andrew Hagger | News

New to using credit cards? here’s a quick guide explaining how they work and the best ways to effectively manage your spending.

Understanding credit cards

The first step to staying on top of your credit card spending is to understand how they work. 

Essentially, these cards are a money-borrowing tool which enables you to make purchases with funds separate from your earnings and pay back the money at a later date. They are especially useful for large and relatively time-sensitive costs such as vehicle repair or booking holiday flights.

You have to keep up with your repayments or risk facing fines and costs spiralling out of control. Sometimes you will have to pay interest and additional fees as well as the total amount taken.

Managing your spending

Know how much you owe

Most crucial to managing your credit card spending is to know how much you owe. Awareness of how much you’ve borrowed, and any applicable interest, will help you budget correctly for your repayments and clear your debt as quickly as possible.

Opting for a credit card that tracks your spending is a straightforward way to stay up-to-date. You can connect your card to an app which gives real-time insight into your activities and balance and reveals spending or repayment trends in your data which could be improved upon.

Pay more than the minimum

Each month, your credit card provider will send you a statement of your spending including how much you owe, any interest or additional costs applied, and your balance. This statement will include a minimum repayment figure which must be met to avoid future fines.

If you’re in a position to, it’s best to pay more than the minimum. This will help to clear the debt more quickly which means you pay less interest overall and in turn, boosts your credit score. Having a good credit score gives you access to lower interest rates, higher credit limits on credit cards and better options for future borrowing such as mortgages.

Prioritise high-interest cards

Money owed on high-interest cards can quickly increase if ignored which could transform manageable repayments into unmanageable debt. A steadily growing balance can impact your ability to save and even essential spending over time.

High-interest debt is often referred to as ‘bad debt’, while low-interest borrowing is ‘good debt’. You should always prioritise paying off bad debt over saving, so clear your high-interest cards before you do any financial planning for the future. It might not feel like it, but this will save you money over time and give you peace of mind that you’re settling your bill.

Reserve for the essentials

While credit cards are a useful financial tool, they should be reserved for the essentials rather than used in your daily spending habits. This will ensure clarity on what you’ve used them for and keep repayments and additional costs to a minimum. When you can cover payments using your debit card and emergency fund without impacting your financial health, you should do so.

September 29th, 2024 | Andrew Hagger | News

New research reveals that Preston and Lincoln rank joint first as the least frustrating places for car commutes.[1] They scored 7.9 out of 10 for commuting reliability, thanks to their low fuel and parking costs, few traffic delays, and many road surfaces being in good condition.

The index, by Go.Compare Car Insurance, ranked 109 places in the UK based on the factors commuters named the most annoying when driving to work. This allowed it to find the country’s best places for commutes.

A survey by the comparison site revealed that half of UK drivers use their car to travel to and from work.[2] The majority of these commuters said traffic congestion was their biggest pet peeve, with 62% pinning it as their top frustration.

Poor road conditions and constant roadworks followed closely behind, bothering 61% and 50% of respondents, respectively. Aggressive drivers, high fuel costs, and parking issues also rank high on the list of annoyances.

The most pleasant cities for car commuters:[1]

Preston and Lincoln top the list as the most pleasant places to commute by car, with a score of 7.9 out of 10. Lincoln has the fewest road delays in the nation, with just 19.4 seconds lost per vehicle mile,[3] and only a quarter of its roads were reported to have poor surface conditions.[4] Preston’s roads are slightly better with less than a quarter (24%) being in poor condition.

On top of that, parking and fuel costs are also incredibly low. Fees to park for an eight-hour work day in Preston averaged at £7.15,[5] and petrol only sets back commuters an average of 140.5p per litre, with diesel costing an average of 146.8p.[6]

In third place is Milton Keynes. The Buckinghamshire city boasts below average parking costs at £9.75 for an eight-hour period, and has shorter average road delays than Preston. It also has better levels of road health with only 17% of its surfaces being in poor condition. But, its higher fuel costs push it down the list. Petrol costs an average of 145.9p and diesel costs 150.2p per litre – both above the national average.

Darlington has slightly higher levels of road health compared to Preston and Lincoln, with only 22% of its roads having poor surface conditions. But it has significantly higher road delays with 31.1 seconds per vehicle mile spent in traffic. Fuel costs are also higher compared to Lincoln and Preston. Petrol in Darlington will set you back an average of 145p per litre and diesel costs 149.8p.

Tom Banks, car insurance expert at Go.Compare, said: “Many drivers might not realise that living in cities with high traffic rates, fuel costs, parking costs, and poor road conditions can often affect your insurance premiums as well.

“Places with poor road conditions and higher traffic rates will charge you more than average for insurance. The national average for car insurance is around £424. London has some of the highest annual insurance costs, with median premiums 62% higher than the national average, setting drivers back around £686 a year.[7]

“But places like Lincoln and Preston have median insurance premiums of only £341 and £408, respectively. It might not be at the forefront of someone’s mind but these factors are worth considering when moving home or even when looking for a new job.”

Find the full list of cities and their rankings on the Go.Compare website.

September 16th, 2024 | Andrew Hagger | News

This Autumn, American Express is offering Cardmembers the chance to explore and save on their next day out with the launch of ‘Amex Days Out’. Eligible* Cardmembers can receive 10% back every time they book at a range of popular attractions across the UK – ranging from theme parks to cultural sites and beyond.

This Offer is valid at over 25 participating UK attractions, including Alton Towers, The Dungeons, London Eye, Eden Project, Silverstone Museum, Sea Life, Shrek’s Adventure, Thorpe Park, Titanic Belfast and Warwick Castle. The offer is also valid at Viator for UK-based experiences. A full list of participating locations can be found here.

The Offer applies to payments made for online ticketing or in person at selected locations**, and there is no limit on the number of times the Offer can be used. Furthermore, Cardmembers must book by 17 November 2024, however they do not need to actually visit the attraction by this date.

To get the saving, Cardmembers simply need to save the offer to their Card via the Amex^® App or online at americanexpress.com where they can also browse dozens of other shopping, travel, and entertainment offers. Eligible Cardmembers will see the Offer on display and will receive 10% back (including any booking fees) once the purchase is made using their American Express^® Card.

Dave Edwards, Vice President, American Express, commented: “We know our Cardmembers really enjoy a day out, and our latest Amex Offer helps them to make savings as they do just that. With a wide variety of some of the nation’s top attractions included, and the ability to book ahead – whether that’s for half term, the festive break or beyond – we think this offer will be really appealing to families and friends across the UK who value being rewarded on their spending.”

September 13th, 2024 | Andrew Hagger | News

Despite the financial pressures facing young people, NatWest’s latest Savings Index reveals younger generations are building positive savings habits, breaking traditional taboos around talking about money, and seeking innovative ways through social media to create a more secure financial future.

The survey of 10,000 people across the UK found how 18-34-year-olds are dealing with the challenges of saving money and the findings show how young Brits are showing resilience and creativity in their approach to developing a savings habit.

Younger people are increasingly willing to talk openly about their finances. Nearly nine in ten (86%) of those under 34 regularly discuss their savings and financial goals. This is a shift away from the traditional taboo surrounding money conversations, suggesting that young adults are more comfortable seeking advice and sharing strategies to improve their financial well-being.

The younger generation is also turning to social media for financial advice and inspiration. Among 18-24-year-olds, nearly one in five (17%) look to social media for tips on how to save and manage money.

Millennials (aged 35-44) are particularly focused on saving, with one in four (24%) managing to set aside between £200 and £500 each month. This age group is often balancing the demands of career progression, family, and homeownership.

Lewis Broadie, NatWest Savings Expert said: “It can be tough for young people to save at the moment but it is clear there is an appetite for saving and young people are finding innovative ways, through social media platforms like TikTok, to find good ideas on how to kickstart a savings habit. Whatever your stage in life we encourage you to set a clear goal and regularly save what you can.”

NatWest has recently become one of the first partners to sign up to the Money and Pensions (MaPS) UK Savings Charter which aims to build a nation of savers through raising the profile of savings and financial wellbeing to consumers. NatWest offers a range of savings tools to help savers either start or continue their savings journey including:

• Round Ups, which automatically rounds each transaction to the nearest pound and saves the difference. Customers can also set this to double the amount saved with Double Round Ups.
• Savers can take advantage of NatWest’s Digital Regular Saver which offers 6% interest on savings and help to build a regular savings habit.
• Savings Goal tool which supports customers to put a plan in place to achieve their goal.
• A free and confidential Financial Health check to get tips and suggestions on how you could improve your finances.

View the full NatWest Savings Index for more results on the UK’s savings habits, as well as tips and advice around budgeting towards savings goals.

September 12th, 2024 | Andrew Hagger | News

With many students heading off to university for the first time this September, shopping experts at MyVoucherCodes have put together a guide on how freshers can navigate their newfound financial freedom, and save a few pounds.

From saving cash on those all-important books to tips on socialising without stretching the purse strings, shopping expert Sarah-Jane Outten has put together her top tips for saving money as a fresher.

Sarah-Jane said: “For those heading off to university for the first time, the first few weeks can be a really exciting and nerve-wracking time. There’s so much to look forward to, but we also know that it can be a costly time for many, which is why we have compiled our top tips for students to be spending savvy this September.”

Top tips for students to save money:

• Take advantage of student discounts: The moment you have your student email address and a student ID it’s time to start taking advantage of the offers you can get. Plenty of shops will allow you to double up on savings and use a student discount on top of any other sales they may have. Shops like Boots also allow you to simply link your student ID to your Advantage card to get 10% off. Elsewhere Routledge, Adidas, Levi’s, and Acer all offer student discounts.
• Never pay full price for books: Whether you need science textbooks or poetry anthologies, the chances are someone else has the book in good condition and doesn’t need it anymore. People often sell their old books on Facebook university groups so take a look there. Ebay is also a good place to get second-hand books – make sure to look on voucher code websites like MyVoucherCodes to see if there are any codes you can use too.
• Grab freebies at freshers’ fairs: From free pens to pizza, freshers’ fairs are a great place to find out about clubs and societies you might want to join, but also to grab yourself some freebies and see if there are any discounts on things like local gym memberships.
• Plan and prepare your meals: Bulk cooking your dinner and planning them for the week is an easy way to save money but with the cost of meal deals rising, prepping your lunches is another way you can cut down on your spending. Even grabbing a meal deal three times a week could set you back more than £500 a year. Taking leftovers onto campus or making a large batch of salad at the start of the week could save you hundreds across the year – Morrisons is offering an exclusive £17 off for new customers when they spend £80.
• You could also consider getting a food subscription with your house or flat mates with companies such as Gousto and HelloFresh and cook together and make some great savings, as they are currently offering 60% off new subscribers with MyVoucherCodes.
• Food shop in the evenings: While it’s no secret that you should never do a food shop when you are hungry, heading to the supermarket in the evenings means you can take advantage of the reduced food items. Every shop is slightly different so get to know when the discount stickers start appearing on foods and time your food shop – lots of food will be perfectly fine to eat still and save you money. There are also plenty of vouchers for supermarkets at MyVoucherCodes including an exclusive £14 off your first online grocery shop over £60 at Sainsbury’s and £5 off your first order of £45 or more at Iceland.
• Sign up for deals: With the majority of your time spent behind a laptop or in lectures (and on nights out), keeping an eye on the best deals out there can be difficult. Signing up to your go-to brands’ mailing lists, and money-saving websites like MyVoucherCodes is a great way to get offers straight to your inbox.
• Search for your accommodation in advance. Rather than leaving it until the last minute, it is certainly going to be worth looking for your student accommodation with plenty of time to spare to get the best possible choice.

To find explore more offers for students visit https://www.myvouchercodes.co.uk/student-discounts

September 12th, 2024 | Andrew Hagger | News

Savers can help care-experienced young people supported by Barnardo’s thanks to two new bonds being launched by Leeds Building Society.

With monthly and annual interest options, the two bonds which are launched during UK Savings Week, will offer an interest rate of 4.05% to savers.The Society will donate 0.10% of the account balance to the charity. That equates to a £40 donation to the charity for a deposit of £40,000.

Earlier this year, Leeds appointed the UK’s biggest children’s charity as its charity partner until March 2027.

During the three-year partnership, Leeds Building Society has committed to raising a minimum of £300,000 to support care experienced young people to find somewhere to live, learn independent living skills, continue with education, or find work, as part of a campaign called Building Brighter Tomorrows.

Leeds Building Society’s purpose is to put homeownership within reach of more people generation after generation – and that includes care-experienced people who are especially vulnerable to the risks of homelessness.

It is estimated that one in three young people become homeless in the first two years immediately after they leave care, and one in four homeless people have been in care at some point in their lives. 

Product details:

• 2 Year Fixed Rate Monthly Income Bond Supporting Barnardo’s: 4.05% Gross p.a./AER
• 2 Year Fixed Rate Bond Supporting Barnardo’s: 4.05% Gross p.a./AER

Catherine Wray, Senior Manager for Savings at Leeds Building Society, said:

“This new bond offers savers the opportunity to make a difference to care-experienced people while watching their savings grow.

“We’ll donate 0.10% of the opening account balance to help fund the amazing work Barnardo’s does to support young people.

“During UK Savings Week, we are focussed on the benefits of saving and making our members money work as hard as possible, and these new bonds offer another way for savers to take control of their finances and do good too.”

Lynn Perry, Chief Executive of Barnardo’s, said:

“This generous donation from Leeds Building Society and its members will allow us to make a huge difference to the lives of those leaving care.

“Young people face a ‘cliff edge’ of diminished support once they leave care. Many begin to live independently earlier than others and are more likely to live in unsuitable or unsafe accommodation, struggling to afford basic essentials.

“Thanks to funding like this, we can deliver much-needed support to help care leavers look forward to a brighter future.”

September 12th, 2024 | Andrew Hagger | News

New research has revealed the most commonly experienced issues drivers face when trying to sell their car privately, with hagglers being named as the most frequent hindrance. Just over a quarter (28%) of sellers said they have encountered unreasonably low offers and haggling from buyers, making it the most common problem in the poll.

The findings come from Auto Express, which ran a survey across Carwow Group asking drivers about the obstacles they’ve faced when selling their cars. The survey revealed that almost two-thirds (65%) of motorists have sold a car privately, with over a third (37%) experiencing at least one problem during the process.

After haggling, the next most commonly reported problem was no-shows. Just under a fifth (17%) of those who had sold privately encountered time wasters on their car-selling journey – people who arranged viewings or test drives but ultimately failed to show up.

In addition, around one in 10 sellers said they dealt with disputes over their vehicle’s condition, while a surprising 6% reported concerns about their personal safety when engaging with potential buyers.

Less common problems on the poll included challenges with transferring ownership (encountered by 3% of sellers) and issues with advertising or reaching potential buyers (experienced by 2%). The results underline the range of pitfalls car owners face when navigating the open market.

This follows the news that Auto Express has launched its own online car-selling service, where drivers can quickly sell their vehicles to a network of dealers.

Paul Barker, Editor of Auto Express, said: “When you just want to get your car sold, there’s nothing more frustrating that someone that mucks you around and clearly isn’t interested in paying a fair price, if they even show up at all. Getting a new car is the exciting bit, but more often than not you’ll also have a car it’s replacing, and getting rid of that quickly and for a good price when selling privately can be a time-consuming process.”