Derin Clark

Derin Clark

Online Reporter
Published: 20/09/2019

The mortgage charts remain highly competitive this week, with new top rates entering the charts. After a few weeks of inactivity, first-time buyers will be pleased to see a new rate has topped the three year fixed chart, while home movers and those looking to remortgage will also see lower rates topping the charts this week.

Savers got some good news this week, with the CPI (Consumer Price Index) figures showing that inflation during August had fallen to 1.7%, meaning that more savings accounts are now offering rates that match or beat inflation. In fact, research by Moneyfacts.co.uk published this week, found that 176 fixed rate bonds (based on a £10,000 deposit) could match or beat inflation. However, for savers wanting to get an inflation-beating rate, they still have to lock their money away, as currently no easy access savings accounts are able to match or beat inflation.

The number of British consumers who are struggling with debt is growing, as a record number of people contacted StepChange for help with their debts in the first six months of 2019, the debt charity has revealed.

According to StepChange, 331,337 people contacted the charity seeking help for their debt and of these, 190,484 were new StepChange clients who received full debt advice. As well as this, the charity revealed that the average level of unsecured personal debt is growing, with the average at £13,799, which is a 2% increase in the past six months and a 6% rise since 2016.

With Wednesday's CPI (Consumer Price Index) figures showing that inflation has fallen to 1.7% during August – its lowest level for nearly three years – we take a look at how this impacts consumers’ finances.

Charter Savings Bank has withdrawn a number of its highly competitive saving accounts today, including its chart-topping 5 Year Fixed Rate Cash ISA, but fortunately for savers, there are a number of accounts that offer the same or higher rates.

The accounts that have been withdrawn by Charter Savings Bank are:

  • 95 Day Notice – Issue 25, which had a rate of 1.81%
  • 5 Year Fixed Rate Bond, which had a rate of 2.25%
  • 5 Year Fixed Rate Postal Bond, which had a rate of 2.25%
  • Easy Access Cash ISA – Issue 12, which had a rate of 1.44%
  • 5 Year Fixed Rate Cash ISA, which had a rate of 2.00%.

Here are the accounts that can match or beat the rates offered by the withdrawn accounts

Search News

Search News

Most Popular News

news icon
Annuity incomes fall to historic low

10th September 2019

Annuity rates are at their lowest point in the product’s history, with income payable falling by over 10% since the beginning of the year, research from Moneyfacts.co.uk reveals

Annuity rates are at their lowest point in the product’s history, with income payable falling by over 10% since the beginning of the year, research from Moneyfacts.co.uk reveals

Read More
news icon
Bespoke bank for SMEs granted banking licence

11th September 2019

Allica, a bespoke bank for SMEs, has been granted a banking licence by the Prudential Regulation Authority (PRA) and will be dually regulated by the PRA and the Financial Conduct Authority (FCA)

Allica, a bespoke bank for SMEs, has been granted a banking licence by the Prudential Regulation Authority (PRA) and will be dually regulated by the PRA and the Financial Conduct Authority (FCA)

Read More
news icon
What are the best savings accounts of 2019?

30th August 2019

A round up of the best savings rates in 2019 so far

A round up of the best savings rates in 2019 so far

Read More
news icon
New easy access account offers a rate of 1.60%

12th September 2019

Savers who have been disappointed with the recent cuts on the top rates within the easy access charts will be pleased to see that Al Rayan Bank has launched an easy access account today paying an expected profit rate of 1.60% gross monthly

Savers who have been disappointed with the recent cuts on the top rates within the easy access charts will be pleased to see that Al Rayan Bank has launched an easy access account today paying an expected profit rate of 1.60% gross monthly

Read More

Our Team of Specialists

nigel woollsey
Online Writer
Derin Clark
Online Reporter
Michelle Monck
Consumer Finance Expert
Rachel Springall
Finance Expert & Press Officer
Tim Leonard
Finance Expert
Sarah Brooks
Sub-Editor
Darren Cook
Mortgage Analytics Manager
Rachel Thrussell
Savings Analytics Manager

More Money News

Get our weekly newsletter

Weekend Moneyfacts is available free by email to all Moneyfacts.co.uk users.

Please send me Weekend Moneyfacts, Savers Friend and selected third-party offers.

Cookies

Moneyfacts.co.uk will, like most other websites, place cookies onto your device. This includes tracking cookies.

I accept. Read our Cookie Policy