The thousands of savers who entrusted almost £120million of their money to Wellesley Finance could hardly fail to have been impressed by the lineage of its founder, the 8th Earl Cowley, an aristocrat descended from the Duke of Wellington’s brother. But while Graham Wellesley has his illustrious name and his wealth, some of the investors … Read more
Savers could soon have to pay to keep their money in a bank if negative interest rates are enforced. Many have suffered negligible rates for more than a decade and most high street banks now pay a pittance at 0.01 per cent. But experts last night said rewards for starved savers could fall even further … Read more
The concept of negative interest rates – where debtors are rewarded and thrift is punished – sounds far too crazy to be a serious policy measure. Until, that is, you consider that the biggest borrowers are governments, not least our own. Public borrowing has ballooned due to coronavirus and pushed the prospect of negative rates … Read more
Britain’s savers could soon be charged to hold money with their banks after the Bank of England left itself wide open to setting interest rates negative for the first time. The Bank of England base rate of interest, which influences how cheaply banks can borrow money, what homeowners pay for their mortgage and how much … Read more
Scammers surely cannot believe their luck. A simple phone call is now all it takes to steal a pension saver’s life’s work. What’s more, as we reveal here, pension firms and financial regulators don’t have the power to intervene. And the police are not likely to investigate. It’s a win-win for fraudsters. It’s dreadful to … Read more
Savers trapped in frozen property funds until 2021 with watchdog still to bring in new rules By Sylvia Morris For The Daily Mail Published: 22:16 BST, 1 September 2020 | Updated: 22:41 BST, 1 September 2020 Savers who have had their money locked in property funds since the beginning of the pandemic could be forced … Read more
One of the top bosses at TSB says it is a ‘great fallacy’ that interest rates are important for savers By Helen Cahill, Financial Mail On Sunday Published: 21:49 BST, 29 August 2020 | Updated: 21:49 BST, 29 August 2020 One of the top bosses at TSB has said it is a ‘great fallacy’ that … Read more
It may benefit commuters and students, but pension firms warn…Scrapping RPI will cost savers £122bn By Lucy White For The Daily Mail Published: 22:29 BST, 20 August 2020 | Updated: 22:29 BST, 20 August 2020 Worth the wait: Ditching RPI would be beneficial for commuters It might sound like a mere technicality but Government plans to … Read more
Surge in scams as fraudsters cash in on desperate savers struggling with record low rates and market turmoil By Victoria Bischoff Money Mail Editor For The Daily Mail Published: 21:51 BST, 19 August 2020 | Updated: 21:51 BST, 19 August 2020 Fraudsters are cashing in on savers desperate for a decent return on their money … Read more
Child savers are missing out on £3 million a year after High Street banks took the axe to Junior Isa rates. Families poured about £555 million into cash Junior Isas (Jisas) last year. But the average rate is now down to 1.91 per cent from 2.46 per cent in January, according to data firm Moneyfacts. … Read more