Goldman Sachs’ Marcus bank looks for an Isa boss as it confirms tax-free savings accounts will launch soon… but only for existing savers Marcus launched a one-year fixed-rate account at the end of March It has previously said it will likely launch new savings accounts It posted a job advert on LinkedIn for an Isa … Read more
The amount of cash poured into Individual Savings Accounts by Britons across the country fell by 6 per cent to an average of £6,049 between the last two tax years, fresh data from HM Revenue & Customs has revealed. For people on an average salary, total adult Isa pots are typically coming in at around … Read more
Three months of brutal cuts to savings rates means the best cash Isa with no strings attached pays just £130 interest a year on the full £20,000 tax-free allowance. And falls in tax-free rates mean the best Isa available anywhere at the moment – a two-year fix – pays less interest than the best easy-access … Read more
Nationwide, the country’s largest building society, does so many things right. Since Covid-19 brought the economy to a virtual standstill in late March, it has reassured its mortgage customers that none of them will lose their home in the next year if their household finances have been disrupted by the virus. Also, its boss, Joe … Read more
Savers desperate to switch Isa deals lose out to costly delays as banks and building societies cut rates almost daily By Sylvia Morris For The Daily Mail Published: 22:01 BST, 26 May 2020 | Updated: 22:01 BST, 26 May 2020 Savers desperate to move their Isa money to a better-paying account are suffering long delays … Read more
Double the Isa allowance to £40k, says investment boss, and encourage savers to ditch cash for backing British firms to help them rebuild Fund manager boss says firms with rescue loans will need to clear their debts Standard Life Aberdeen will invest in British companies to help them do this Boss Keith Skeoch says savers should … Read more
Lifetime Isa savers may still lose their own money to tap savings… as the taxman proves slow to update its system after rule change victory The Treasury is cutting the Lifetime Isa penalty from 25% to 20% until April 2021 Savers who need to access the money now won’t be charged their own money They … Read more
Victory! The Treasury will now allow aspiring first-time buyers to tap into their Lifetime Isas without penalty – four days after we raised concerns On Tuesday, we reported young savers would be penalised The DWP expects people to use Lifetime Isa cash before they can get benefits But the Treasury did not adjust the 25% … Read more
Thousands of aspiring first-time home buyers who run into financial trouble due to the coronavirus pandemic could have to pay the Government hundreds of pounds to access house deposits before they are eligible for benefits. The Department for Work and Pensions says Lifetime Isa savings are included in the means test for Universal Credit, but … Read more
Many investors will no doubt be feeling nervous about choosing a home for this year’s £20,000 Isa allowance. But with savings rates decimated, experts insist the stock market still offers the greatest prospect of growing your wealth long term. For those who are keen to invest some or all of this year’s Isa allowance but … Read more