Brits to miss out on tax free savings
February 26, 2008 by admin
Filed under News, News-Banking
Many Brits will miss out on significant tax free savings this year, according to research from financial experts. 
Findings from moneysupermarket.com have shown that while only 32 per cent of Brits plan to invest in an individual savings accounts (Isas) this year, only 27 per cent know the allowance for these tax free investments will be increased from £3,000 to £3,600 per year as of April 5th.
Kevin Mountford, head of savings at moneysupermarket.com, said: “It is disappointing so many Brits won’t take advantage of this excellent savings vehicle.”
“With just a third of people looking to utilise their tax free Isa allowance it looks like many people will miss out,” he added.
According to moneysupermarket.com, cash is the most popular option for those planning to invest in an Isa with 73 per cent saying this is where they will put their money.
Meanwhile, the finance experts recently said that savings providers are introducing more online products due to the increase in the number of ’silver-surfers’.
Rates for secured loans are becoming as competitive as unsecured deals
February 22, 2008 by admin
Filed under News, News-Loans
Homeowners looking for a significant cash advance can now choose from secured loan deals which are even more competitive than the average unsecured loan rate, financial experts have claimed. 
According to Moneyexpert.com, the average APR on a £15,000 unsecured loan is an estimated 8.44 per cent.
However, borrowers with the option of securing the loan against their property have been able to get interest rates as low as 5.9 per cent, almost 2.5 percentage points cheaper than the average unsecured loan rate on the market for balances of £15,000.
Sean Gardner, chief executive of MoneyExpert.com, said: “Historically secured loans were seen as something of a product of last resort.”
“But these days they are far more attractive to homeowners who are looking for a competitive rate of interest,” he added.
Findings from MoneyExpert.com reveal that demand has increased for secured loans in the past six months with an 85 per cent rise in the number of applications seen in the last quarter ending in January 2008.
Meanwhile, further research from finance experts have shown that 1.39 million have switched mortgage provider for a better deal in the past six months.
