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 drawdown customers’ annual withdrawal rates during the third quarter of 2019 was used in a number of publications, including Financial Reporter, Money Marketing, Your Money and Retirement Matters. Commenting on the story, Richard Eagling, head of pensions at Moneyfacts, said: “Drawdown has many appealing qualities for those seeking to maximise flexibility in their retirement planning but one of the key trade-offs is that individuals have to take on longevity risk for themselves. The fact that those individuals going it alone with their drawdown strategies are almost three times more likely to have depleted their fund compared with those taking professional advice should be a red flag moment.”
During the week, our coverage on the increase in 40-year mortgage terms was used by the Financial Times and Mortgage Strategy. Meanwhile, the Financial Times once again used one of our stories, this time on the fact that consumers are more likely to switch to a bank account with a challenger bank than a high street provider. Commenting on switching accounts, Rachel Springall, one of the financial experts at Moneyfacts.co.uk, said: “Banking customers may feel less enthused to switch this time of year but it hasn’t stopped some banks from trying to tempt them, such as HSBC with its £175 free cash offer. However, as we have seen before, a free cash sweetener can be short-lived and in 2019 these have come and gone.”
This week, our Moneyfacts’ Star Ratings were mentioned within a story regarding Paradigm Mortgage Services adding OneFamily to its provider panel, and was covered by Best Advice, CCR Magazine, Mortgage Finance Gazette and Property Reporter.
Elsewhere, our data was also used by a number of other publications, including Which? within its story covering tumbling savings rates, Mortgage Strategy’s weekly mortgage rate watch and FT Adviser in its piece discussing the trend towards longer-term fixed rate mortgage products.
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 Any products featured may be withdrawn by their provider or changed at any time.