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October 2022 News Archive

Explore our archive of financial news, savings, mortgages and personal finance articles published in October 2022. Browse articles below for key developments, expert analysis and insights from the month.

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October 2022 News

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Coventry BS launches market-leading fixed rate ISAs

28th October 2022

Coventry Building Society (BS) launched eight new accounts , which include market-leading offers for its one, two and three year fixed ISAs. All three accounts calculate interest daily and pay it monthly or yearly.

Coventry Building Society (BS) launched eight new accounts today, including market-leading offers for its one, two and three year fixed rate ISAs.

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Inflation returns to double digits as food prices increase

19th October 2022

UK inflation rose at an annual rate of 10.1% in September, an increase from the 9.9% recorded in the 12 months leading to August according to the Office for National Statistics (ONS). In particular, staples such as bread, milk, meat, eggs, and cheese saw significant monthly rises.

UK inflation rose at an annual rate of 10.1% in September, an increase from the 9.9% recorded in the 12 months leading to August according to the ONS.

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Chancellor confirms energy price guarantee to end in April

17th October 2022

Chancellor Jeremy Hunt confirmed today that the energy price guarantee will now be in effect until April, after it was previously set to last over a two-year period. He said that due to volatile international gas prices it “would not be responsible” to continue exposing public finances to volatile international gas prices.

Chancellor Jeremy Hunt confirmed the energy price guarantee will now be in effect until April, after it was previously set to last over a two-year period.

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How to maintain your “financial mental health” as the cost of living crisis continues

15th October 2022

Worries about your finances can have an impact on your wellbeing. This article explains how to manage your financial mental health effectively.

Worries about your finances can have an impact on your wellbeing. This article explains how to manage your financial mental health effectively.

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Drivers halt plans to switch to electric cars due to rising cost of living

14th October 2022

UK drivers are putting their plans to switch to an electric vehicle (EV) on hold due to the cost of living crisis, according to the RAC. This year, the primary reason behind switching to an EV was due to its lower running costs.

UK drivers are putting their plans to switch to an electric vehicle (EV) on hold due to the cost of living crisis, according to the RAC.

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Investors ditch UK equity funds in record-breaking month

10th October 2022

UK equity funds, which predominantly invest in shares, saw investors withdraw almost £3 billion in August, according to the Investment Association. For the trade body this is a record monthly outflow, and contrasts with the £1.3 billion invested in these funds in August 2021.

UK equity funds, which predominantly invest in shares, saw investors withdraw almost £3 billion in August, according to the Investment Association.

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Three practical reasons why you should work with an expert before you retire

10th October 2022

If you wait until retirement to seek assistance, you may already have missed some vital financial planning opportunities. Here are three of the key benefits of working with your Kellands financial planner before and at retirement, rather than waiting until further down the line.

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Average annuity rates reach 14-year high

5th October 2022

Annuity rates have hit a 14-year high, according to research from Canada Life, an insurance company. The rise in rates means the break-even point for annuity holders, which is the point where someone would receive the value of their pension back through their annuity income, has reduced by seven years over the last five months.

Annuity rates have hit a 14-year high, according to research from Canada Life, an insurance company.

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Moneyfactscompare.co.uk launches Equity Release service in partnership with Mortgage Advice Bureau Later Life

3rd October 2022

Visitors to Moneyfactscompare.co.uk that want to know more about equity release can now access the skilled and experienced advisers at Mortgage Advice Bureau Later Life, in an agreement announced by the two companies.

Moneyfactscompare.co.uk visitors want to know more about equity release can access the skilled and experienced advisers at Mortgage Advice Bureau Later Life.

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Nationwide BS offers market-leading current account switching deal

3rd October 2022

Nationwide BS has increased its current account switching incentive to a market-leading £200 today. This can be earned for transferring to either the FlexDirect, FlexAccount or FlexPlus.

Nationwide BS has increased its current account switching incentive to a market-leading £200.

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Holiday let deals rise as more lenders enter the market

26th September 2022

Mortgage options for borrowers looking at holiday lets have increased by 72% since September 2021, rising to 320 options. This means choice is nearly double compared to March 2020.

Mortgage options for borrowers looking at holiday lets have increased by 72% since September 2021, rising to 320 options.

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Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.