UK Finance News

Pressure from the government to avert another Northern Rock crisis has led to Alistair Darling announcing new proposals which have been put forward to the Financial Services Authority for approval.
The chancellor wants the current limit for compensation raised from £35,000 to £50,000. However Banks have already hit out at the idea of paying into a [...]

[Read more →]

Lower earning Flex Account customers at Nationwide will be hit by a reduction in interest rates that come into force on August 1st.
Nationwide will be paying a varied interest rate to its Flex Account customers based on how much is paid into the account on a regular monthly basis. The new rates are listed below, [...]

[Read more →]

While the UK mortgage and lending market has been severely affected by the credit crunch, loans approved in April did manage to rise to £17.8bn  against a figure of £15.6bn in March, still below this time last year by 7.7%.
The figures are however, believed to have been buoyed by many re-mortgaging property  and changing lenders [...]

[Read more →]

Since allowing carry over of deceased spouses’ IHT allowances from last October, the HMRC has also had to review how this is assessed.
The IHT allowance - currently £312,000 - can effectively be passed over to a spouse
where it is unused or partly unused.
Qualification for the extra entitlement, up to £624,000 maximum, is reliant on survivors [...]

[Read more →]

KidStart.co.uk has launched an innovative way to help parents put away money for their child’s future.
Saving when bringing up children has always presented a challenge, so this scheme has linked 200 on-line retailers and allows parents and grandparents to contribute a percentage of their spend to a savings account.
Andrew Hagger of Moneyfacts.co.uk said, “The UK population needs [...]

[Read more →]