Research released this week revealed that the number of inflation-beating fixed rate bonds available has risen in the past 12 months, despite inflation increasing to 2.1% during April. The research carried out by Moneyfacts shows that there are currently 108 fixed rate bonds and seven fixed rate ISAs (based on a £10,000 deposit) available that beat inflation and of these 91 fixed rate bonds and three fixed rate ISAs pay more than 2.1%.
This week Tesco Bank announced that it was leaving the mortgage market, a decision it made partly due to the intense competition within the mortgage sector. Soon after this announcement, Nationwide Building Society revealed that its profits have fallen year-on-year by 19%, which it suggests is partly due to fierce competition. While the news that Tesco Bank is pulling out of the sector means that there will be less choice for mortgage borrows and will reduce competition, this news does show that the mortgage market is highly competitive at the moment and there are some great rates available to borrowers.
More than one-third of small and medium-sized enterprises (SMEs) are having difficulties with cash flow due to late payments, research from BACS Payment Schemes Limited reveals.
According to the research, 43% of SMEs experienced late payments during 2018 and, of these, 78% of had to wait one month or more beyond their agreed terms before they were paid. This resulted in an estimated total of £13bn late payment money being owed to SMEs. Receiving payment beyond the agreed date is likely to affect the cash flow of SMEs as they are more likely to rely on these funds than larger organisations – there are ways to ease cash flow difficulties however.
Equity release can be a great way for older homeowners to give their retirement income a boost, allowing them to release cash tied up in their home without needing to downsize. But just what are these later life borrowers doing with all that extra money? Well, even though many use it to fund home improvements, holidays or simply to enjoy a comfortable standard of living, research from Key shows that many are also using their housing wealth to clear debts.
The expertise of the Moneyfacts team is regularly in demand from news outlets and journalists across the national and financial spectrum, with many relying on our up-to-the-minute data and insightful quotes to inform their stories. Here are just a few places we’ve been in the news this week.
23rd May 2019
The Moneyfacts Weekly Product News is a round-up of the latest products or rate changes to hit the consumer finance market over the past seven days. The deals are available right now, but may be subject to change.
The Moneyfacts Weekly Product News is a round-up of the latest products or rate changes to hit the consumer finance market this week.
21st May 2019
While the interest rate on any mortgage might be the first thing to come to mind when searching for a deal, incentives are always worth considering - and happily, the number of deals that offer these perks is on the rise.
While the interest rate on any mortgage might be the first thing to come to mind when searching for a deal, incentives are always worth considering.
17th May 2019
This week has seen only a little movement in terms of the best mortgage rates available. In the two-year fixed rate mortgage chart, the best rate being offered was still 1.54%, while...
This week has seen only a little movement in terms of the best mortgage rates available...
13th May 2019
Fixed rate mortgages tend to be the product of choice for the majority of borrowers, but the latest Moneyfacts UK Mortgage Trends Treasury Report may cause some to think again...
Fixed rate mortgages tend to be the product of choice for the majority of borrowers, but the latest Moneyfacts UK Mortgage Trends Treasury Report may cause some to think again