Ella Mower

England, Norwich

Senior Content Writer at Moneyfacts Magazine

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Articles

Nationwide Customers To Be Rewarded £100 In Time For Summer

1 week 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.
Many With Under £10,000 Saved In Their Pension In For A "Nasty Shock"

2 weeks 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.
How To Kickstart A Savings Habit

3 weeks ago | moneyfactscompare.co.uk | Ella Mower

Limited access to savings contributed to one in four UK adults being deemed as having ‘low financial resilience’, said the FCA. Setting money aside is crucial for combatting the rising cost of living and dealing with unexpected expenses but, worryingly, one in 10 people admitted to not having any cash savings in a recent survey conducted by the Financial Conduct Authority (FCA).
Bank of England Base Rate Cut To 4.25% Following Global Tariff Turmoil

1 month ago | moneyfactscompare.co.uk | Ella Mower

In the wake of new tariffs announced at the start of last month by US President, Donald Trump, and the widespread market turmoil they generated, the Bank of England’s Monetary Policy Committee (MPC) today voted in favour of lowering the UK base rate to 4.25%. This outcome was as many anticipated; while latest figures from the Office for National Statistics (ONS) revealed GDP increased by 0.5% in February, there are concerns the new tariffs could discourage spending and stall economic growth.
Skipton BS Launches 'One-Of-A-Kind' Mortgage For First-Time Buyers

1 month ago | moneyfactscompare.co.uk | Ella Mower

The building society hopes the new product will offer first-time buyers “the breathing space they need in those critical first few months”. In the latest move to support cash-strapped first-time buyers, Skipton BS has today launched a ‘one-of-a-kind’ mortgage product which comes with no repayments for the first three months.
Average Returns On Longer-Term Fixed Savings Accounts Breach 4%

1 month ago | moneyfactscompare.co.uk | Ella Mower

Is it time you locked away your cash for longer? Savers who don’t need immediate access to their cash may want to consider a longer-term fixed account after latest data from the Moneyfacts UK Savings Trends Treasury Report revealed typical returns in the sector breached 4% at the start this month for the first time since August 2024.
Changes To Look Out For In The Months Ahead

2 months ago | moneyfactscompare.co.uk | Ella Mower

Despite no major tax changes in today’s Spring Statement, measures announced in last year’s Autumn Budget are set to come into effect. Today’s Spring Statement was void of any major tax changes as the Chancellor of the Exchequer, Rachel Reeves, attempted meet her “non-negotiable fiscal rules” while keeping the promises made in the Labour Party manifesto.
Bank of England Base Rate Paused At 4.50% | moneyfactscompare.co.uk

2 months ago | moneyfactscompare.co.uk | Ella Mower

But both mortgage and savings rates trend downwards following last month’s cut. With the Spring Statement less than a week away, the Bank of England’s Monetary Policy Committee (MPC) took a neutral stance in its meeting today by maintaining the base rate at 4.5%. This falls in line with many economists’ expectations.
Variable Savings Accounts A “Casualty” Of Base Rate Cuts

2 months ago | moneyfactscompare.co.uk | Ella Mower

With further base rate reductions expected this year, should savers consider a fixed account for guaranteed returns? Savers may be hopeful the Bank of England’s Monetary Policy Committee (MPC) maintains the UK’s central interest rate at its current level when it meets later this week, after three cuts within the space of six months sent variable returns tumbling.
More Than A Third Of Adults Don’t Have An ISA

2 months ago | moneyfactscompare.co.uk | Ella Mower

With the rising cost of living and effects of fiscal drag, can savers really afford to overlook the tax benefits ISAs offer? Many savers may be unnecessarily paying tax on their hard-earned cash, with more than a third (35%) of adults confessing to not holding an ISA. This is according to the second annual Savings Index from high street bank, NatWest, which uncovered a worrying lack of understanding surrounding the tax-benefits ISAs can offer.