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.
Our story on the gap between standard variable rates and two year fixed mortgages of two years ago was used in a number of publications, including Financial Reporter, Houseladder, Mortgage Introducer and Mortgage Strategy. Commenting on the two year fixed mortgage market, Darren Cook, one of our finance experts, said: “Just over two years ago, the mortgage market reached the end of a period of aggressive competition, which saw the average two year fixed mortgage rate fall to its historical low of 2.20% in October 2017. Borrowers who took advantage of this increased competition between lenders before the base rate rise in November 2017 may have seen a difference of 2.70% between their previous fixed rate and last month’s average SVR (4.90%).”
During the week, our coverage on the drop in inflation to 1.5% was picked up by several publications including The Scottish Sun, Your Money, The Sun and Investors Chronicle. Commenting on the fall in inflation, Rachel Springall one of our financial experts, said: “Due to the cost of various goods falling, households may not have the attitude to save right now, particularly in the run-up to the festive period, but this could be a dangerous view. If consumers come up against financial constraints in the coming months without any substantial savings to fall back on, it may be a struggle to pay for the everyday essentials. Savers may not be able to beat inflation with an easy access account today, but they can get access to their money quickly, so interest may not be the magnet for some.”
As well as this, our story on the cut in 0% interest rates as the Christmas shopping season begins was used but The Daily Mail and Your Money. In the story, Rachel commented: “Credit cards remain not just a convenient way to spend for the everyday consumer, but they also offer protection in the event of a dispute with a purchase of goods or services. In addition, consumers can give themselves more time to repay goods if they apply for an interest-free offer. As Black Friday looms, this week may be a popular time to apply for one such offer.”
In addition to this, our previous story on the increase in 40-year term mortgages was used by Financial Reporter and Mortgage Solutions this week, while the Financial Reporter also used our story that looked into the average five year and two year mortgage rates. Another of our previous stories was also used in the past seven days, with our investigation into the numbers of retirees taking drawdown used by Money Week.
Elsewhere, our data was also used by a number of other publications, including Which? using our mortgage data, Mortgage Introducer, which used our pick of the week product and Mortgage Strategy, which included our average mortgage rates in its weekly rate watch.
Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.