Keep up to date with the latest money & finance news | moneyfacts.co.uk
news icon

News

news icon
The best ISA rates this week 25.02.21
Derin Clark

Derin Clark

Online Reporter
Published: 25/02/2021

There was little change at the top of the ISA charts this week, which will be a disappointment for savers hoping to see ISA rates increase in the build up to the ISA season. Although ISA rates have remained low, time is running out for savers to use up the 2020/21 ISA allowance of £20,000, so should consider taking advantage of the best rates available before the ISA deadline for this tax year ends.

Savers should also note that the rates below are the best rates available at 2pm on Thursday 25 February 2021 and, although correct at the time of publishing, they may not be available after this time.

Read More
news icon
Consumers should shop around for best foreign currency deal as pound fluctuates

After seeing a rapid increase against the Euro at the beginning of the week, the pound sterling has since fallen and as the pound continues to fluctuate, consumers looking to spend money abroad should shop around for the best deal.

When sending money overseas, consumers not only have to consider the exchange rate, but also charges and fees that they may incur for sending the money. For example , many high street banks will charge fees when customers send money internationally and some have increased the fees for sending money to countries within the European Union (EU) since the start of this year.

Consumers can avoid paying higher fees by using specialist international money transfer companies, but it is still important to compare rates to ensure they get the best deal possible. For more information about sending money abroad, visit our guide on how to send money abroad.

Read More
news icon
Moneyfacts Weekly Product News – 25.02.21

The Moneyfacts.co.uk Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market.

Read More
news icon
TSB launches new cashback bank account

TSB has launched a new bank account that allows customers to earn £5 cashback per month – here we take a look at whether it is worth opening and other cashback offers currently available on current accounts.

The new TSB Spend & Save Plus Account allows customers to earn £5 when they make 30 or more debit card payments each month. Although those considering this account should be aware that it charges a monthly fee of £3 – this would mean that over a 12-month period the account would cost customers £36, although customers should keep in mind that the maximum that can be earned through the cashback offer over a 12-month period is £60.

Saying this, the account does offer an interest-free overdraft facility of up to £100, so may be worth considering for those who regularly dip into their overdraft. The interest charged on overdrafts above £100 is 39.9% EAR. As well as this, the account does not charge for using the debit card abroad, which could be an added benefit for those who regularly travel overseas when it is once again allowed.

Read More
news icon
Plans to extend Stamp Duty holiday to June

When Chancellor Rishi Sunak announces the spring budget next week, it is expected that he will extend the Stamp Duty holiday until the end of June.

Although no official announcement about the plan has been made yet, as we reported earlier this month, there has been pressure on the Government to extend the Stamp Duty holiday as many buyers are struggling to get their house sale completed before the current Stamp Duty holiday ends on the 31 March 2021.

In addition to this, the housing market has already started to slow down and some experts believe that extending the Stamp Duty holiday will help prevent a downturn in the housing market. More information about the Stamp Duty holiday and how much it can save house buyers can be found here.

Saying this, at the moment the Government has not confirmed a Stamp Duty holiday extension will take place, and as such home buyers should still look to complete before the 31 March 2021 in order to be certain that they will benefit from the tax holiday.

Read More

Recent News

news icon
Mortgage choice for first-time landlords increases

23rd February 2021

The percentage of deals available to first-time landlords in the buy-to-let (BTL) market has increased over the last 12 months, suggesting that, despite the economic uncertainty caused by the pandemic, many mortgage providers are still willing to lend to new property investors

The percentage of deals available to first-time landlords in the buy-to-let (BTL) market has increased over the last 12 months

Read More
news icon
Three switching offers launched within last two weeks

22nd February 2021

Competition between banks for new customers has reignited this month, as three new switching offers have been launched within the space of two weeks

Competition between banks for new customers has reignited this month, as three new switching offers have been launched within the space of two weeks

Read More
news icon
Consumer survey winners – how our winners plan to spend their prize money

22nd February 2021

Last month we contacted three of our readers who had taken part in our consumer awards survey to tell them that they were winners of our £1,000 prize draw

Last month we contacted three of our readers who had taken part in our consumer awards survey to tell them that they were winners of our £1,000 prize draw

Read More
news icon
Leeds Building Society commended as High Street Savings Provider of the Year

22nd February 2021

Leeds Building Society was commended for High Street Savings Provider of the Year at the Moneyfacts Consumer Awards 2021.

Leeds Building Society was commended for High Street Savings Provider of the Year at the Moneyfacts Consumer Awards 2021.

Read More

Search News

(showing 1 to 4 of 495) (showing 1 to 3 of 495) (showing 1 to 4 of 495)

Most Popular News

news icon
Will the stamp duty holiday be extended?

4th February 2021

With less than four weeks until the stamp duty holiday is due to end, consumers in the process of buying a new home may miss out on the tax-reduction and instead find themselves paying out thousands of pounds more than they expected on completion

With less than four weeks until the stamp duty holiday is due to end, consumers in the process of buying a new home may miss out on the tax-reduction and instead find themselves paying out thousands of pounds more than they expected on completion

Read More
news icon
State pension set to rise in April 2021

23rd December 2020

The state pension is rising by 2.5% in April 2021, resulting in retirees getting up to an extra £228.80 a year

The state pension is rising by 2.5% in April 2021, resulting in retirees getting up to an extra £228.80 a year

Read More
news icon
What are the best ISA investment funds in January 2021?

26th January 2021

The end of 2020 saw an optimism in the markets as more vaccines gained regulatory approvals. We summarise how the performance of the best ISAs during this time.

The end of 2020 saw an optimism in the markets as more vaccines gained regulatory approvals. We summarise how the performance of the best ISAs during this time.

Read More
news icon
Equity release or pension drawdown – which option is best for you?

18th February 2021

The pandemic has resulted in many households facing financial struggles over the past 12 months and older homeowners may be considering tapping into their pension pot early or releasing equity from their property to see them, or help loved ones, through the current economic uncertainty

The pandemic has resulted in many households facing financial struggles over the past 12 months and older homeowners may be considering tapping into their pension pot early or releasing equity from their property to see them, or help loved ones, through the current economic uncertainty

Read More

Our Team of Specialists

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

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