Faster compensation in place for savers

There has been some good news for worried savers in the UK recently, after financial services authorities announced that the speed at which compensation is paid out to those that lose their savings following the collapse of a financial institution is to be increased. Read more

Tags: level, financial crisis, savers, thousand pounds, savings accounts, Financial services, Financial Services Compensation Scheme, saving compensation

Homeowners could be paying over £100 extra a year on mortgage

According to a recent report the average homeowner in the UK could end up paying over £100 a year extra on their mortgage as a result of the bailout of failed Icelandic banks and the Bradford & Bingley. One finance expert said that the bailout had resulted in homeowners being charged around an extra £108 a year because of home loan rates being pushed up as a result of the bailout. These figures come from John Goodfellow, who is the chairman of the Building Societies’ Association. Read more

Tags: homeowners, uk, average homeowner, john goodfellow, Financial Services Compensation Scheme, building