AXA rewards safe motorists
Financial giant AXA has revealed a new car insurance policy which will see those with eight or more years no claims bonus receiving a 90% discount on their premiums. This compares to the average discount of 65% on a maximum five-year no claims bonus and will obviously further benefit the vast majority of drivers in the UK who do not claim on their car insurance.
This comes at a time when the AA has confirmed that UK car insurance premiums will rise by between 10% and 15% in 2010 with the majority of the increase caused by uninsured drivers causing accidents on the road. It would appear that slowly but surely we are seeing a polarisation between safe drivers and dangerous (and uninsured drivers) with many other insurance companies certain to follow the lead set by AXA.
Car insurance premiums have been on an upward spiral for many years now with the cost of covering uninsured drivers taken on by the industry and then spread out amongst insured motorists. Whether or not this is a fair allocation of the added expense associated with uninsured drivers is debatable but it is a trend which began some time ago and has ultimately led to a massive increase in car insurance premiums for "no apparent reason".
'Switch providers to save on loan repayments'
Borrowers can make significant savings by changing their loan provider halfway through the repayment period, it has been claimed. According to research conducted by price comparison site uSwitch.com, the average consumer with a loan of £8,000 could save £180 by swapping for a best buy deal. However, despite the savings to be made many borrowers are reluctant to change provider, with 2.5 million...Read More
Barclays Bank to close 11 cash ISAs
07/08/2014 Barclays Bank is set to close 11 of their cash ISAs (Individual Savings Accounts), meaning 2.3 million customers will be moved onto a simplified product range. The simplification of their ISA range means that 1.6 million savers will be put on a worse interest rate than before, although 740,000 will be put on the same or a better rate. Lee Chiswell, head of savings at Barclays...Read More
Do consolidation loans work?
Despite the fact that on the surface it would appear that the UK economy is much stronger today than it was towards the latter part of 2009, we are still seeing more and more people in the UK suffering financial hardship. Credit card debits are mounting up, loan payments are being missed and despite the fact that mortgage interest rates are relatively low, many people are struggling to cover their...Read More
Mortgage arrangement fees reach new high
The amount you pay to organise your mortgage has risen to a new high, despite the fact the Government has set up new schemes to make borrowing and getting on the property ladder easier. The average fee for the arrangement of a mortgage has now reached £1,522, making it the highest this figure has peaked to for 25 years, according to Moneyfacts. It is those looking to buy a home with the sm...Read More
Standard life rejects takeover of Tomkins
Standard Life, one of the largest investors in the UK stock market, has this week rejected a £2.9 billion takeover offer for engineering conglomerate Tomkins. While the indicated offer, from a Canadian consortium, was well above the Tomkins share price at the time there are growing fears that overseas investors are using a weakness in the UK exchange rate and a weakness in the UK stock market to...Read More