Latest News from Money Expert

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Savers Added £11 Billion to Easy-Access Accounts During Lockdown

Savers Added £11 Billion to Easy-Access Accounts During Lockdown

By Lauren Smith | Published: 24.06.2020

Savings rates have cratered, but Britons are still socking away cash in easy-access accounts to weather the coronavirus crisis—if they can afford to.The amount of cash squirrelled away in easy-access...

23

Amigo Deluged with Fresh Complaints

Amigo Deluged with Fresh Complaints

By Lauren Smith | Published: 23.06.2020

Guarantor loan specialist Amigo warned that it is struggling to handle a surge of customer complaints and will miss a deadline agreed with the Financial Conduct Authority to clear a backlog of overdue...

23

Healthcare Workers Won’t Be Discriminated Against When Applying for Insurance, ABI Says

Healthcare Workers Won’t Be Discriminated Against When Applying for Insurance, ABI Says

By Lauren Smith | Published: 23.06.2020

The Association of British Insurers (ABI) has reassured the British Medical Association (BMA) that doctors and other healthcare workers will be treated the same as other workers when applying for life...

23

Record High for Private Rents During COVID-19 Lockdown

Record High for Private Rents During COVID-19 Lockdown

By Harry Pererra | Published: 23.06.2020

New figures show that average rent prices in the private-sector hit a record high of £700 per month in England just before the country went into lockdown.According to the latest data from the Office...

19

Post Office Resumes Selling Travel Insurance—But There’s a Catch

Post Office Resumes Selling Travel Insurance—But There’s a Catch

By Lauren Smith | Published: 19.06.2020

The Post Office has resumed selling travel insurance, with some cover for coronavirus—but only for trips in the future, after the government’s advice not to travel is lifted.The Post Office suspended...

18

Nationwide Triples Minimum Deposit for First-Time Buyers

Nationwide Triples Minimum Deposit for First-Time Buyers

By Lauren Smith | Published: 18.06.2020

Nationwide Building Society will triple the minimum deposit required for first-time buyers, over fears an erosion of house prices could leave homeowners in negative equity.Nationwide, the UK’s...

17

Savings Rates Fall to Record Low

Savings Rates Fall to Record Low

By Lauren Smith | Published: 17.06.2020

Coronavirus uncertainties have eroded savings rates to their lowest level on record, leaving savers few places to stash their money.The average interest rate on easy access savings accounts dipped to...

16

Credit Card Rates Hit Record High

Credit Card Rates Hit Record High

By Lauren Smith | Published: 16.06.2020

Credit card providers are hiking interest rates over fears the coronavirus crisis will push more customers to default on payments.According to data from Moneyfacts, the average APR on credit cards now...

16

UK Economy Set to Shrink by 8% in 2020

UK Economy Set to Shrink by 8% in 2020

By Harry Pererra | Published: 16.06.2020

A leading economic forecaster has predicted that the UK economy will shrink by 8% this year, and will take until 2023 to recover from the damage caused by the coronavirus pandemic.The latest official...

12

Lloyds Fined £64 Million For Mistreating Mortgage Customers

Lloyds Fined £64 Million For Mistreating Mortgage Customers

By Lauren Smith | Published: 12.06.2020

The City watchdog has fined Lloyds Banking Group £64 million for mistreating thousands of mortgage borrowers who were in arrears.The Financial Conduct Authority (FCA) says the bank and its...