
Articles
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1 week ago |
moneyfactscompare.co.uk | Ella Mower
As inflation remains well above the Bank’s 2% target. The Bank of England’s Monetary Policy Committee (MPC) held off making any further changes to the base rate and instead announced today the UK’s central interest rate will be maintained at its current level of 4.25%. Concern global tariff turmoil would stunt economic growth paved the way for a 0.25 percentage point reduction last month.
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1 week ago |
moneyfactscompare.co.uk | Ella Mower
As average savings rates decline across the board despite greater competition. Savers have a record number of brands to consider after two providers rejoined the market in May, the latest Moneyfacts UK Savings Trends Treasury Report revealed. This saw the total number of savings providers rise to 153 as of the beginning of June. What’s more, the number of products (including ISAs) for savers to choose from also increased – reaching a new record high of 2,235 as of the start of this month.
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2 weeks ago |
moneyfactscompare.co.uk | Ella Mower
Meanwhile, mass repricing caused product choice and shelf-life to dip. Mortgage rates declined throughout May for a fourth consecutive month, data from the latest Moneyfacts UK Mortgage Trends Treasury Report revealed. Although undoubtedly a relief for the millions of borrowers with fixed deals set to end this year, lenders appeared to adopt a more cautious approach when repricing their fixed products, as average rates dropped by a smaller margin than seen in previous months.
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4 weeks ago |
moneyfactscompare.co.uk | Ella Mower
Members can also earn an additional £200 with a new, exclusive current account switching deal. Nationwide BS customers are set to be £100 better off in time for summer after the building society announced it’s rolling out its third Fairer Share Payment from next month. The mutual has a history of distributing some of its earnings among eligible members; this latest payment comes as it reported pre-tax profits rose to £2.3 billion in the year to 31 March.
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1 month ago |
moneyfactscompare.co.uk | Ella Mower
Meanwhile, fewer than 10% received financial advice on investments, pensions or retirement planning in the past 12 months. More people could benefit from guidance and support when it comes to saving for retirement, a recent survey conducted by the Financial Conduct Authority (FCA) revealed.
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