2020 Financial News Archive | Moneyfactscompare.co.uk

Home News Archive 2020

Explore our archive of financial news, savings, mortgages and personal finance articles published in 2020. Browse articles below for key developments, expert analysis and insights from the whole year.

2020 News

Loan rates rise as pandemic hits struggling households the hardest

Derin Clark

Online Reporter

Published: 10/06/2020

With the economic uncertainty brought on by the Coronavirus pandemic, many consumers have been looking at consolidating their debt to help get a hold of their personal finances. Research carried out by Moneyfactscompare.co.uk has found that not only is it becoming more expensive for consumers to take out personal loans, but many are finding that their loan applications are being declined or held up for long periods of time.

New year, new loan?

10th January 2020

Is now a good time to grab a deal on a new loan? We look at the options.

Mortgage rates rise for third consecutive month

12th October 2020

Consumers looking to lock into a new mortgage deal should act quickly, as mortgage rates continue to rise while the number of deals available is falling

Borrowing rates 2020 – what are the lowest personal loan and credit card rates?

6th August 2020

Today it was announced that the Bank of England has held base rate at 0.1%. While this may seem like good news for consumers looking to borrow money, our research has found that over the last few months, interest rates on loans and credit cards have increased

Mortgage rates start to rise as number of deals cut by over half

11th August 2020

In just five months, the number of mortgage deals available to consumers has more than halved, falling from 5,222 on 1 March to just 2,526

Two and five year mortgage rates hit historic lows

11th May 2020

Although the number of mortgage deals have almost halved since March, the average mortgage rates on two and five-year fixed deals have hit historic lows

Invest in property or a pension - which is best to boost your retirement?

6th August 2020

The numbers of people searching for buy-to-let in the UK has seen an increase of more than 2.5 times from the end of March to mid-July, according to Google trends data.

The numbers of people searching for buy-to-let in the UK has seen an increase of more than 2.5 times from the end of March to mid-July, according to Google tren

Santander announces overdraft changes

14th January 2020

Santander is the latest bank to announce changes to its overdraft fees in response to the Financial Conduct Authority’s (FCA) banning of fixed fees on overdrafts

Santander is the latest bank to announce changes to its overdraft fees in response to the Financial Conduct Authority’s (FCA) banning of fixed fees on overdraft

Customer service stats show banks are slow to replace lost cards

4th March 2020

The most recent results for bank service standards from the Financial Conduct Authority (FCA) show that although there has been progress in some areas of customer service, banks are still failing to improve in others – most notably in replacing lost debit cards within one day.

Although there has been progress in some areas of customer service, banks are still failing to improve in others – replacing lost debit cards within one day.

Reviewed: HSBC bank and its range of bank accounts

19th October 2020

HSBC has more than 40 million customers across the world. It is one of the big four banks in the UK. Consumers that switch their bank account to HSBC can currently earn £125 cash bonus on specific HSBC accounts (subject to eligibility). We review its range of bank accounts and the HSBC mobile banking app.

HSBC offers £125 cash bonus to switch to specific HSBC accounts (subject to eligibility). We review its range of bank accounts.

Contactless limit is set to rise to £45 to help fight Covid-19

24th March 2020

From 1 April 2020, consumers will be able to use contactless payments on amounts of up to £45, as concerns about hygiene when shopping continues

From 1 April 2020, consumers will be able to use contactless payments on amounts of up to £45

An interest-only mortgage could help ease financial pressure during pandemic

6th July 2020

Mortgage borrowers financially struggling due to the Coronavirus pandemic and considering switching to an interest-only mortgage will find that the majority of deals offer an interest-only repayment option

Mortgage borrowers switching to an interest-only mortgage will find that the majority of deals offer an interest-only repayment option

First-time buyer mortgage rates fall

10th February 2020

First-time buyers saving for a 5% deposit will be pleased to see that average five year fixed mortgage rates on a 95% loan-to-value (LTV) have fallen by 0.26% year-on-year, while average two year equivalent rates have fallen by 0.19%

First-time buyers saving for a 5% deposit will be pleased to see that average five year fixed mortgage rates on a 95% loan-to-value (LTV) have fallen

Banks savers should look out for in 2021

16th December 2020

A combination of Bank of England base rate cuts, a new funding for lending scheme and the ongoing economic uncertainty has resulted in saving rates falling to historic lows during 2020

A combination of Bank of England base rate cuts and the ongoing economic uncertainty has resulted in saving rates falling to historic lows

How to pay off an interest-only mortgage

24th November 2020

UK Finance predicted that the number of interest-only mortgages set to mature during 2020 would be 54,000

Al Rayan Bank launches new digital banking app

24th February 2020

Despite recent reports that Al Rayan Bank is permanently shutting down its online banking, the challenger bank has confirmed that it is in fact launching a new platform and an online banking service will remain available to its existing customers

Al Rayan Bank has confirmed that an online banking service will remain available to existing customers

Investing ethically pays dividends for savers

27th July 2020

Ethical funds are consistently achieving better levels of growth than their non-ethical equivalents according to a study revealed by Moneyfacts today

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2020 News Archive

2020 News

Derin Clark

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