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Five reasons not to panic about your credit score
Derin Clark

Derin Clark

Online Reporter
Published: 23/06/2021

Being aware of credit scores can be a good way of assessing the likelihood of being accepted for a loan, credit card or mortgage, but consumers who see small sudden falls in their score should not let it deter them from applying for credit. Instead, it is important to understand how lenders view credit scores, other factors they consider when lending money and why it is important not to panic if the credit score falls unexpectedly.

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Moneyfacts Weekly Product News – 17.06.21

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

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Should you increase mortgage repayments or your pension contribution?

Whether it is getting a pay rise or paying off ,a long-term debt, getting a little bit extra each month can be a great boost to personal finances. Although it can be tempting to spend the extra money, homeowners who already have an emergency fund saved may want to think about the long-term and consider putting the extra money towards securing their future instead.

For homeowners thinking ahead, often the choice is between using the extra money to pay off their mortgage early or boosting their pension contributions. Although choosing which is the best option, Kellands, an independent financial adviser company, said: “A starting point, is to align your mortgage term to your preferred retirement date, ensuring you do not carry debt on your main residence into retirement. Beyond this, allocating further income or savings to tax-efficient investment can make sense. The consideration is to balance a known interest cost of a mortgage, against the unknown and variable, but potentially higher return available from investing. Valuable tax allowances, particularly those offered through pensions and ISAs can help sway the argument. The consideration tends to be a personal one, factoring your wider financial position, and views on risk and towards debt in general.”

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Moneyfacts Weekly Product News – 10.06.21

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

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Increase in travel insurers awarded top rating in the 2021 Moneyfacts Travel Insurance Star Ratings

As uncertainty around travel continues, it has never been more important for holidaymakers to have the right travel insurance. Fortunately, choosing the best travel insurance deal has just become easier with Moneyfacts revealing its Travel Insurance Star Ratings for 2021 today.

The Moneyfacts Travel Insurance Star Ratings 2021 independently analyses all the travel insurance products on the market to determine which will be awarded its five and four-star rating. Despite the pandemic’s impact on the travel industry, this year saw an increase in the number of annual and single policies assessed, rising from 649 to 862.

This increase has resulted in a 61% increase in the number of deals awarded a five-star rating and a 42% increase in the number awarded a four-star rating.

As well as this, the number of fields that were analysed to determine which policies would be given a star rating increased by 16, many of which focused on the inclusion of COVID-19 cover.

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Recent News

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Confusion over how green energy is supplied puts consumers off switching

9th June 2021

Homeowners are put off switching to a new green energy tariff due to confusion about how the greener energy is supplied to their home, new research from British Gas has found

Homeowners are put off switching to a new green energy tariff due to confusion about how the greener energy is supplied to their home, new research from British Gas has found

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Moneyfacts Weekly Product News – 02.06.21

3rd June 2021

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

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

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Moneyfacts Weekly Product News – 27.05.21

27th May 2021

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

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

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How to get the best breakdown deal

26th May 2021

With the half term holidays coming up many families will be looking to take advantage of the easing of lockdown restrictions with a UK-based trip

With the half term holidays coming up many families will be looking to take advantage of the easing of lockdown restrictions with a UK-based trip

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Most Popular Money News

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Should you increase mortgage repayments or your pension contribution?

16th June 2021

Whether it is getting a pay rise or paying off ,a long-term debt, getting a little bit extra each month can be a great boost to personal finances

Whether it is getting a pay rise or paying off ,a long-term debt, getting a little bit extra each month can be a great boost to personal finances

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Moneyfacts Weekly Product News – 17.06.21

17th June 2021

The Moneyfacts.co.uk Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market for the week commencing 14.6.21

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

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What you need to know about the tax allowance 2021/22

1st April 2021

During April many tax allowances and thresholds will increase, which could see consumers gaining more in their monthly wages, but also may result in having to pay higher taxes

During April many tax allowances and thresholds will increase, which could see consumers gaining more in their monthly wages, but also may result in having to pay higher taxes

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Moneyfacts Weekly Product News – 21.01.21

21st January 2021

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

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

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