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Banks, Bonds, Checking & Savings, Financial, Financial Services, Interest Rate, Investment, Money, Personal Finance

NS&I Invites Voters To Pick Their Favourite Sustainable Garden At BBC Gardeners World Live

The NS&I sponsored Grow Your Own campaign is to showcase three gardens f r o m 10 June in Birmingham.

NSIgarden

For the second year, three unique and visionary garden designs have been selected to be displayed at the BBC Gardners’ World Live event. The designs all feature modernity, sustainability and growing fruit and veg as key themes.

Visitors to the show will be able to vote for their favourite garden in the Grow Your Own area of the show which is also supported by NSI. The overall winner of the NS&I Growing Gardens Today Competition will be announced live on the Grow Your Own area stage by gardening expert Carol Klein on Sunday 14 June.

Of the competition, Carol Klein said. “I am thrilled to be announcing the overall winner of the NS&I Growing Gardens Today competition this year. This year’s designs are hugely creative, incorporating recycled and sustainable materials while showing different ways to grow your own fruit and vegetables. NS&I is a big supporter of encouraging the public to grow their own in a sustainable and cost effective way.”

Visitors to the show will also have the opportunity to pick up good gardening money-saving tips and ideas for contemporary working gardens. Expert gardeners will be giving practical demonstrations and advice on growing and using fruit, veg and herbs.

The winners:
Sheila Jean Dearing, a former bio-medical scientist, f r o m Devon, has always been deeply interested in gardening and developed her passion further when she began cultivating her own gardens. Her design, ‘Forest to Fork’ (located at Stand GA25), combines creativity with science to produce a space that is both beautiful and practical. Designed using FSC softwood throughout, this garden demonstrates how a small space can be productive, low maintenance and eco-friendly with a modern feel.

Christopher Parry and Rene Humphrey f r o m Bath, both graduated f r o m the Oxford College of Garden Design in 2007 before going on to set up their own garden design business TwentyEightDesigns. ‘Urban Veg’ (located at Stand GA23) is the first show garden built by the duo and aims to show NEC visitors a contemporary space made for today’s city lifestyle. Designed with sustainability in mind, the garden includes many recycling components such as reusable materials, a sleek built in compost bin and reclaimed bricks for walls.

Sally Wilding-Webb f r o m Devon has a certificate in garden design and firmly believes that the roots of good garden design are in horticulture. Sally aims to show visitors that a garden can be a sustainable fruit and veg plot as well as an area of relaxation. Her design ‘Everything in the garden’ (located at Stand GA24), encompasses modern techniques – such as a pond to encourage wildlife, lavender to welcome bees for pollination and an array of fruit and vegetables. 

All three gardens are located in the popular Grow Your Own area at the show. Voting commences at 9am on Wednesday 10 June 2009 and closes at midday on Sunday 14 June 2009.

 

About NS&I
NS&I is one of the UK’s largest financial providers with almost 27 million customers and over £92 billion invested. It is best known for Savings Bonds, but also offers Inflation-Beating Savings, Guaranteed Equity Bonds and Children’s Bonus Bonds in its range of savings accounts. All products offer 100% security, because NS&I is backed by HM Treasury.

About the RHS
The RHS is the UK’s leading gardening charity dedicated to advancing horticulture and promoting good gardening. Its charitable work includes undertaking scientific research into issues affecting gardeners, holding plant trials and educational events and activities.

Via EPR Network
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Banks, Bonds, Checking & Savings, Financial, Financial Services, Interest Rate, Investment, Money, Personal Finance

NS&I’s June Jackpot Of £1million Has Been Paid To A Surrey Resident, Who Bought His Winning Bond In March 2006

The winner, a gentleman from Surrey who wishes to remain anonymous, became ERNIE’s 233rd Premium Bond millionaire. He said of the win: “When Agent Million knocked on my door and told me that I’d won the jackpot I thought it was a practical joke! I’m still in shock but once the news sinks in I cannot wait to share the good fortune by treating my family to a lovely summer holiday.”

In Surrey, more than 535,300 people hold Premium Bonds worth £1.4 billion. There are more than 13,500 unclaimed Premium Bonds in total worth at least £796,000. This is the 13th time that the £1 million jackpot has been won in Surrey.

In March, NS&I announced that from the April prize draw onwards, one of the two monthly £1 million Premium Bond jackpot prizes will be replaced by a wider mix of other prizes in the monthly draws.

Similarly, a new £25 Premium Bonds prize has been introduced to the draws alongside the existing prizes (ranging from £50 to £1 million). These changes have been introduced because Premium Bond holders say that maintaining the chances of winning tax-free prizes on a regular basis is particularly important to them.

In June’s draw ERNIE paid out more than 1.1 million prizes, amounting to more than £33 million in value. There were 40,520,994,477 eligible numbers in the Premium Bond draw.

1. In June there were 1,125,583 prizes and a total prize fund of £33,767,475.
2. All Premium Bonds prizes are free of UK Income Tax and Capital Gains Tax.
3. Pictures of ERNIE (including the new ERNIE 4 machine), Agent Million and people buying Premium Bonds are available in high-resolution jpeg format from the NS&I media team.

About NS&I
National Savings and Investments is one of the largest savings organisations in the UK, offering a range of savings and investments to almost 27 million customers. NS&I is best known for Premium Bonds, but also offers a range of savings accounts including easy access savings accounts, savings bonds, investment accounts and children’s bonus bonds. All products offer 100% capital security, because NS&I is backed by HM Treasury. Further information and digital images are available from the NS&I media team. An ISDN line is available for interviews.

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Banks, Financial, Financial Information, Financial Services, Money

RxIndex Launched On BankRx.com

Bankrx.com has released RxIndex, a reliable and accurate measure of financial health of banks. The index is percentile ranking of the vitality and robustness of a given bank’s financial health banks with respect to the banks nationwide. The scoring is based on a number of macro and micro economic data. RxIndex can be used by a bank to reduce FDIC insurance premium, prepare for regulators, improve its credit worthiness, and minimize risk exposure vis-a-vis other banks. A very low RxIndex indicates a high probability of default.

bankrx

Determining a bank’s financial health is a complex matter. RxIndex encapsulates the inherent complexity of this process with the simplicity of a single score. This score will enable investors, analysts, bank personnel, consumers and job seekers to gauge the probability of a bank’s success.

BankRx is a web based service providing financial data and analytics to the banking and financial services professional. Consumers, analysts, and bankers alike will benefit from utilizing the peer groups available to measure and contrast similar institutions’ key ratios on www.bankrx.com. RxIndex is available for free to all levels of subscribers for the first thirty days.

The founders of BankRx have over 100 years combined banking experience. This experience is used to identify and accurately present the pertinent data in both a user friendly and economical manner. Banking executive George Patellis states, “The Rx Index is useful because it is easy to understand the score, which represents so much data. It is also very insightful to compare the capital adequacy and asset quality ratios within a peer group. The peer analysis model developed by BankRx is very comprehensive and has saved us a significant time and effort.”

Included as well is a post-mortem section, which takes a look at the statistics of recently failed banks. BankRx CEO Sunil Choudhary notes, “BankRx provides information that makes it easy for banks to measure their risk and prepare them for the new era of risk-based regulations. While our analytics are targeted at assisting banks analyze and reduce their risks, we want to point out that 80% of the 34 banks that failed so far this year, had a RxIndex of 2 or less out of a 100.”

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Assets, Banks, Financial, Financial Services, Financial Solutions, Insurance, Insurance Services, Personal Finance

Lloyds TSB Insurance Reports Rogue Traders On The Rise

Lloyds TSB Insurance has revealed that more than 4.6 million ‘botch’ home jobs have been reported in the past 12 months, as a growing army of unqualified traders target unsuspecting homeowners.

New research from Lloyds Home Insurance reveals that one in 10 Brits has been forced to correct sub standard work in the last 12 month – a 16 per cent increase on last year – costing an average of £460 to put right.

The rash of ‘rogue’ trading is being fuelled by a tougher economic climate, as unqualified workers seek out ‘cash in hand’ maintenance work and homeowners look for the lowest possible price.

With nearly a third (32 per cent) of victims admitting that they made no checks at all on workers’ qualifications, the insurer is urging homeowners to confirm traders’ full credentials and avoid the false economy of unqualified labour.

The research shows that Britons view the initial quote they get as the full amount they will eventually pay, without considering any additional costs should the job need correcting. Unhappy customers were forced to pay an average of £1,250 to amend botched conservatories, £840 to correct building work and £640 on roofing.

Those aged 45 – 54 are the worst affected, paying an average of £900 to correct the botch jobs done to their property, with West Midlands residents most affected (20 per cent), followed by those in the East of England (12 per cent).

Commenting on the research, Lloyds TSB Insurance Managing Director, Phil Loney said: “Rogue traders are on the increase and costing unsuspecting homeowners thousands. To help the public feel more confident about employing traders, we’ve produced a comprehensive guide to ‘rooting out the rogues’ which is available on the Lloyds TSB Insurance website.”

Research was commissioned by Lloyds TSB Insurance plc and conducted by YouGov in April 2009.

All figures, unless otherwise stated, are from YouGov Plc. Total online survey sample size was 2,404 adults. Fieldwork was undertaken in April 2009. The figures have been weighted and are representative of all GB adults (aged 18+)

About Lloyds TSB:
Lloyds TSB offers customers a wide range of current accounts, savings accounts, travel and homeowners insurance, home contents insurance, personal loans and credit cards, investment and cash ISA accounts designed to meet different customers’ needs.

Lloyds TSB Bank plc and Lloyds TSB Scotland plc are authorised and regulated by the Financial Services Authority and signatories to the Banking Codes.

Lloyds TSB Bank plc Registered Office: 25 Gresham Street, London EC2V 7HN.
Registered in England and Wales no. 2065. 

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Banks, Bonds, Checking & Savings, Financial, Financial Services, Interest Rate, Investment, Money, Personal Finance

National Savings And Investments (NS&I) Has Increased The Interest Rates On Its Income Bonds By 1%.

The revised interest rates came into effect from 20 May 2009 for Income Bond customers.

nsandi

Guaranteed Income Bonds are intended to provide investors with a100% secure monthly income at a competitive variable interest rate. This no risk guarantee to the investment capital is possible because National Savings and Investments is backed by HM Treasury. Income Bonds can be cashed in at any time with no notice and no penalty and income can be paid directly into a bank or building society account or into a NS&I Investment Account or Easy Access Savings Account.

The combination of complete security and the increased interest rates are expected to make NS&I Income Bonds especially attractive in the current economic climate.

NS&I constantly reviews savings products offered by other providers and has made this decision to take into account the rates available on other types of products which might be considered by Income Bond customers. NS&I continues to follow a pricing strategy designed to balance the interests of its savers, the taxpayer and the stability of the financial services market.

The interest rates on NS&I’s other savings products, including NS&I’s Guaranteed Income Bonds, will remain unchanged.

This brings the new Income Bonds variable gross rates* to 1.7% p.a. (1.71% AER**) for savings of £500 – £24,999 and 2% p.a. (2.02% AER) for savings of £25,000+.

*Gross means the taxable rate of interest without the deduction of UK Income Tax
**AER stands for Annual Equivalent Rate and enables the comparison of interest rates from different financial institutions and across different products on a like-for-like basis. It shows what the notional annual rate would be if interest was compounded each time it was credited or paid out. Where interest is credited once a year the rate quoted and the AER will be the same

 

About NS&I
National Savings and Investments is one of the largest savings organisations in the UK, offering a range of savings and investments to almost 27 million customers. NS&I is best known for Premium Bonds, but also offers a range of savings accounts including easy access savings accounts, savings bonds, investment accounts, and children’s bonus bonds. All products offer 100% capital security, because NS&I is backed by HM Treasury. Further information and digital images are available from the NS&I media team. An ISDN line is available for interviews. 

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Banks, Checking & Savings, Credit Cards, Financial Services, Money, Personal Finance

New Premium Club By M&S Money Will Offer Shopping And Travel Membership Benefits Exclusively To M&S Credit Card Holders

M&S Money has launched its new Premium Club which will offer shopping and travel membership benefits exclusively to M&S Credit Card holders – including both new and existing customers.

M&S Money

M&S Premium Club membership benefits include triple loyalty points on the M&S Credit Card* for all shopping at M&S, both in-store and online, special treats throughout the year, including birthday gifts and seasonal treats, and worldwide multi-trip family travel insurance, which includes extra cover for winter sports and independent travel.

Amanda Newman, M&S Premium Club Manager, commented: “Premium Club offers our credit card holders more of what they want from M&S, with exclusive access to a collection of benefits and rewards with an overall value several times the cost of membership.

“Our customers love the M&S loyalty scheme and, with Premium Club, they will get their money back in many ways. Being able to earn triple points has created great excitement with customers, as they will get three times the reward for the same amount of shopping at M&S.”

Existing M&S Credit Card holders can apply to join Premium Club at M&S stores, by phone or online. New customers can apply for the credit card and M&S Premium Club via the same methods, using just one application form.

New research** commissioned to celebrate the launch of M&S Premium Club confirms that shoppers are on the look-out for value. In order to save money, over a third of those questioned (35%) said they’d buy a package of goods that’s worth more than the price they paid. A further 19% regularly collect loyalty vouchers and money off coupons.

Shoppers are even more intent on being rewarded for their loyalty, with nearly two thirds (64%) expecting to receive extra loyalty rewards, and a further 50% wanting discounts on items they buy regularly. On the customer service side, 38% would like recognition and being treated with courtesy, and another 24% want to feel special and receive free gifts.

* M&S Credit Card 15.9% APR typical variable (the rate received will depend on assessment of the customer’s circumstances). 
** Research carried out on behalf of M&S Money by YouGov 24th to 27th April 2009, among 2,221 people aged 18 and over.

About M&S Money:
M&S Money (the trading name of Marks & Spencer Financial Services) was founded in 1985 as the financial services division of Marks and Spencer Group plc. The company is now a top ten credit card provider and the second largest travel money retailer in the UK. M&S Money also offers a range of insurance cover, including home insurance, car insurance, pet insurance, and wedding insurance, as well as loans, savings and investment products. In November 2004, Marks & Spencer sold M&S Money to HSBC. The Group serves customers worldwide from around 9,500 offices in 86 countries and territories. With assets of US$2,527 billion at 31 December 2008, HSBC is one of the world’s largest banking and financial services organisations. HSBC is marketed worldwide as ‘the world’s local bank’. M&S Money has an executive committee comprising an equal number of representatives from HSBC and Marks & Spencer.

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Banks, Business, Credit Cards, Financial, Financial Services, Money

Barclaycard To Pilot New Visa Corporate Card

Barclaycard has announced its involvement in piloting a new a payment card, in association with Deloitte and Visa Europe.

As well as being a standard Visa Corporate card, this innovative new card enables Deloitte employees to remotely access their company IT system via a virtual private network (VPN). The card has a keypad and LCD screen embedded into it, to allow users to enter their PIN and generate a one-time use passcode. This passcode is then authenticated by Deloitte’s VPN. In addition, the card ensures that cardholders have the convenience of only having to carry their Corporate Barclaycard without the need to carry a separate security token or device. The technology that the card uses was developed in conjunction with EMUE Technologies.

The Barclaycard pilot is the first corporate card pilot of the Visa Credit Card with one-time code functionality in Europe and is expected to reduce user costs substantially compared to using a separate token device for remote network access. In addition, Barclaycard’s proven capability will provide improved information on card usage with up to date transaction statements available online.

In addition to supporting remote network access, The Visa Corporate Barclaycard features other applications. It is compatible with Verified by Visa which could prevent card not present (CNP) fraud and identity theft associated with online banking, telephone authentication and other remote channels.

Barclaycard’s leading role in the piloting of this new card was recognised when it won the ‘Best use of innovation within Visa systems or services’ award at the recent Visa Europe Insights event.

The award highlighted Barclaycard’s commitment to using technology in an innovative way to bring additional benefits for its customers.

Neil Radley, Managing Director of Barclaycard Commercial, commented: “This product is an ideal solution for our corporate customers as it effectively combines two items in one; as well as being a standard Visa corporate card it incorporates a token which enables safe and secure virtual private network (VPN) access. We are delighted to be developing this innovative card with Visa Europe.”

Simon Owen, Senior Partner who leads the Information and Technology Risk practice at Deloitte, said: “The EMUE technology enabled Visa Corporate Barclaycard offers real benefits for card issuers based on our own experiences of providing staff with one-time code functionality for remote access. We estimate that we could save up to 65% per user over having a separate traditional token device.”

Sandra Alzetta, Senior Vice President for Innovation at Visa Europe, commented: “Innovation is a key factor in Visa Europe’s continued success and growth. We are continually working to make Visa the most secure and convenient choice for both corporate and consumer cards. By embedding a battery, PIN pad and LED screen in a payment card, we believe we are offering the most innovative card product in the marketplace.”

About Barclaycard 
Barclaycard, part of Barclays Global and Retail Commercial Banking division, is a leading global payment business which helps consumers, retailers and businesses to make and accept payments flexibly, and to access short-term credit when needed.

The company is one of the pioneers of new forms of payments and is at the forefront of developing viable contactless and mobile payment schemes for today and cutting edge forms of payment for the future. It also issues credit and charge cards to corporate customers and the UK Government. Barclaycard partners with a wide range of organisations across the globe to offer their customers or members payment options and credit.

In addition to the UK, Barclaycard operates in the United States, Europe, Africa and the Middle and Far East.

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Barclaycard Reduces Balance Transfer Fee

Barclaycard has announced that it is reducing the balance transfer fee on its 0% for 12 months Barclaycard Platinum balance transfer deal with immediate effect.

The change means that the current balance transfer fee on the Barclaycard Platinum card has been reduced to 2.5% of the amount transferred from the previous level of 3%. This offer is available for any transfers made within 60 days of opening an account, on amounts up to £5,000. The reduction means customers will be able to save £25 on a £5,000 balance transfer onto the Barclaycard Platinum.

The reduction in the balance transfer fee following the Barclaycard announced in February that it was reducing the annual percentage rate (APR) on its Barclaycard Platinum credit card from 14.9% down to 12.4%. This means that at the end of the promotional balance transfer period, the rate on the card will revert to ne lower rate of 12.4%.

Commenting on the reduction, Amer Sajed, Managing Director of Barclaycard UK said, “This reduction will mean customers looking to move their balance now have to pay less to get a market leading deal”.

Along with services like identity protection, fraud monitoring, purchase delivery protection and contactless payment technology, the new lower rate will help to further consolidate Barclaycard Platinum’s position as the market leading credit card in the UK.

Notes to Editors
The reduced balance transfer fee is available through the Barclaycard website. Barclaycard reserves the right to withdraw this offer at any time. Terms and Conditions apply. Barclaycard is subject to application and status. This offer is only available to new customers.

About Barclaycard:
Barclaycard, part of Barclays Global and Retail Commercial Banking division, is a leading global payment business which helps consumers, retailers and businesses to make and accept payments flexibly, and to access short-term credit when needed.

The company is one of the pioneers of new forms of payments and is at the forefront of developing viable contactless and mobile payment schemes for today and cutting edge forms of payment for the future. It also issues credit and charge cards to corporate customers and the UK Government. Barclaycard partners with a wide range of organisations across the globe to offer their customers or members payment options and credit.

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Barclaycard Announces The Conclusion Of A Project To Create A New Range Of Corporate Imagery, Whilst Simultaneously Fostering Some Of The Best Up And Coming Talent In The UK Industry

Barclaycard undertook a project to hire four semi-professional photographers in order to create a new set of imagery that moved away f r o m the traditional metaphors and financial services conventions.

barclaycard

Unusually for a big business, when Barclaycard realised it needed fresh creative images to sit with the new visual identity, and its customer promise, “One Step Ahead”, it decided to bypass the usual route of enlisting established corporate photographers. Instead the credit card and payment acquiring business set up a new programme to uncover some of the most talented semi-professional photographers and help them to get their career on the road.

The four photographers chosen – Australian Noel McLaughlin, Russian Natalia Urazmetova and fellow Brits Stuart Hendry and James Ellerker – were tasked with producing shots around a central theme of liberation that were warm and had a natural feel. The brief requested genuine situations with real people and with a clear focus on a key moment within the image.

Sharon Zimmerli, Senior Design and Identity Manager, Barclaycard said: “Our image content needs to remain optimistic and positive and must be intelligent and imaginative enough to engage our audience. By entrusting our brief to photographers who are inventive and talented, but not yet accustomed to the conventions of corporate photography, we were able to create fresh and engaging imagery to fit with our brand.”

The project was in many ways inspired by the success of social media photo sharing site flickr. When Barclaycard sourced notional images to demonstrate the style of photography which fit best with the new visual identity, most of the images that were deemed a neat fit were f r o m flickr.

About Barclaycard 
Barclaycard, part of Barclays Global and Retail Commercial Banking division, is a leading global payment business which helps consumers, retailers and businesses to make and accept payments flexibly, and to access short-term credit when needed. The company is one of the pioneers of new forms of payments and is at the forefront of developing viable contactless and mobile payment schemes for today and cutting edge forms of payment for the future. It also issues credit cards and charge cards to business banking customers and the UK Government. Barclaycard partners with a wide range of organisations across the globe to offer its customers or members payment options and credit. In addition to the UK, Barclaycard operates in the United States, Europe, Africa and the Middle and Far East.

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Lloyds Banking Group Has Announced Its Participation In The New Electronic ISA Transfer Process Which Is Being Introduced

The Group has been working with the British Bankers’ Association (BBA) and other savings providers to adopt the process ahead of the new tax year.

cash isa

Lloyds TSB, Halifax and C&G will now be able to send and receive cash ISA transfers electronically via the Bankers’ Automated Clearing Services (BACS). These changes will speed up the transfer process by reducing the delays caused by sending cheques in the post.

Colin Walsh, managing director of savings and investment with Lloyds Banking Group said: “The industry wide delays experienced by customers last year were largely due to the outdated cheque and postal system on which the ISA transfer market was dependent. The move to electronic transfers is an important step forward but it is essential we continue to work together as an industry to improve the process.”

Ahead of the new tax year, Lloyds Banking Group has conducted a thorough review of its own internal procedures to ensure the transfer process is as efficient as possible. As a result, the bank has invested in its tracking systems to provide customers with up to date information on the progress of their funds.

The BBA estimates that during the peak ISA season, up to 1000 transfers a day could move more efficiently thanks to electronic transfers.

Colin Walsh continued: “Given today’s unprecedented low rate environment maximising your full tax free allowance has never been more important. As the UK’s largest provider, with a market share of 24 per cent, Lloyds Banking Group is fully committed to participating in the ISA transfer market, both through the use of electronic transfers and by allowing customers to transfer in historic ISA funds.

“However, we have always said this needs to be an industry wide initiative and, as and when other providers introduce the electronic transfer process, more customers will be able to reap the benefits. I believe there will be significant improvements this year, but there is still work to be done.”

About Lloyds TSB:
Lloyds TSB offers customers a wide range of current accounts, savings accounts, insurance, personal loans and credit cards, investment and cash ISA accounts designed to meet different customers’ needs. Lloyds TSB Bank plc and Lloyds TSB Scotland plc are authorised and regulated by the Financial Services Authority and signatories to the Banking Codes. Lloyds TSB Bank plc Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 2065.

The following savings providers are participating in electronic transfers:
* Lloyds Banking Group: Lloyds TSB, Halifax, Bank of Scotland and Cheltenham & Gloucester
* Full participation from Birmingham Midshires, IF and Scottish Widows is currently being rolled out 
* RBS Group: RBS, NatWest, Coutts
* Santander: Abbey

 

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Unfair Blacklisting Due To Id Fraud Is Set To Boom Warns LV=

A new report* released by LV= shows that the number of Brits whose credit rating has been badly damaged by identity theft is likely to almost double within the next five years, with up to 240 people a day being affected.

The new research by home insurer LV= shows that nearly half of all Brits (46%), have experienced some sort of credit problem**, with 27% blaming mistaken identity, and 29% said they had no idea why they had encountered a problem.

LV= is warning people that if they believe they have been refused credit unreasonably, they should investigate it further. It could be a sign that they have become a victim of identity theft.

To help assist the growing number of people affected by this problem, LV= home insurance now offers customers free access to an Identity Fraud Helpline. The helpline is staffed by specially trained expert advisers who will explain what people can do if they think they have been a victim of identity fraud.

The LV= research, undertaken by the Centre for Economics and Business Research (CEBR), includes views from over 6,000 adults who were questioned about their experiences in applying for credit cards and other services. The research shows that as many as half a million adults* have been ‘blacklisted’ as a result of being hit by identity fraudsters, with the figure predicted to rise by a further 440,000 over the next five years.

In the past decade identity fraud cases have rocketed, rising on average by 33% annually for the past eight years***. The research also reveals that victims of identity fraud face costs of over £2,100 to clear their name.

John O’Roarke, managing director of LV= home insurance, said: “In the last ten years we’ve seen a massive increase in the number of people targeted by fraudsters, illustrating the importance of vigilance in protecting personal information and monitoring for any problems that might prove to be a ‘symptom’ of identity theft.

“Our research shows that an unfair credit rating is a common problem for many and more worryingly, identity fraud is likely to rise sharply in the coming years. That’s why we’ve set up the LV= identity fraud helpline, free to all our home insurance customers, so that anyone who thinks they might have become a victim of identity theft has somewhere to go for help and support.”

* Opinium research indicates 2% of people have been a victim of identity fraud. UK adult population is 47.9 million (derived from the Labour Force Survey); CEBR predicts cases will rise by 440,000 cases in the next five years.
** Credit problems are defined to include being denied a loan (including mortgage), credit card, utility or service contract, being investigated by bailiffs, incorrectly receiving a court summons or unpaid bills.
*** CEBR analysis based on CIFAS data: in 1999 there were 9,000 reported cases of identity fraud, rising to 77,500 in 2007.

About LV= 
LV= is a registered trade mark of Liverpool Victoria Friendly Society Limited (LVFS) and a trading style of the Liverpool Victoria group of companies.

LV= employs over 3,800 people, serves around 3.2 million customers and members, and manages around £7 billion on their behalf. We are also the UK’s largest friendly society (Association of Friendly Societies Key Statistics 2008, total net assets) and a leading mutual financial services provider.

LVFS is authorised and regulated by the Financial Services Authority register number 110035. LVFS is a member of the ABI, AMI, AFS and ILAG. Registered address: County Gates, Bournemouth BH1 2NF.

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Barclaycard Has Revealed That Spending On Mother’s Day Gifts Was Down In 2009 When Compared To The Year Previous

The data from Barclaycard Payment Acceptance, which enables retailers to accept payments from both debit and credit card, confirms that families across Britain are opting for less expensive gifts for Mother’s Day in the current economic climate.

Spend on flowers was down 15 per cent in the two weeks leading up to Mother’s Day this year compared to the same period last year while spending on chocolates was up 23 per cent compared to last year, suggesting that people are managing the expense of special occasions by purchasing more economic gifts rather than expensive floral presents.

Restaurants and jewellery shops were the least affected with spending almost identical to last year. Treating mum to lunch remains a popular gift, with spending in restaurants up slightly (0.3 per cent) compared to last year. Jewellers saw a very small increase in spending in the two weeks leading up to Mother’s Day, with sales up 0.1 per cent compared to the same period in 2008.

Commenting on the data, Stewart Roberts, Business Development Director at Barclaycard said: “People don’t want to let special occasions pass them by without buying a present of some sort but what we are seeing is that children are opting for a less expensive gift rather than the more extravagant floral arrangements in these tough times.”

These figures are taken from Barclaycard Payment Acceptance data from March 2008 and March 2009. The figures relate to spending on certain products and services usually associated with Mother’s Day: The year-on-year comparison figures relate to spending in the two weeks prior to Mother’s Day 2009 and the corresponding period in 2008. The restaurant comparison covers Mother’s Day 2009 spending compared with 2008.

About Barclaycard:
Barclaycard, part of Barclays Global and Retail Commercial Banking division, is a leading global payment business which helps consumers, retailers and businesses to make and accept payments flexibly, and to access short-term credit when needed.

The company is one of the pioneers of new forms of payments and is at the forefront of developing viable contactless and mobile payment schemes for today and cutting edge forms of payment for the future. It also issues credit cards and charge cards to business banking customers and the UK Government. Barclaycard partners with a wide range of organisations across the globe to offer their customers or members payment options and credit. In addition to the UK, Barclaycard operates in the United States, Europe, Africa and the Middle and Far East.

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Banks, Financial, Financial Services, Home Equity, Loans, Money, Mortgage, Personal Finance

It May Still Be Some Time Before The Bank Of England See The Need To Raise Interest Rates, But With The Cost Of Funding Fixed Rates Pre-Empting Any Change In Bank Rate, There Are Already Signs That Fixed Rates Could Cost More

The cost to lenders to fund some fixed rates isnow higher than earlier this month despite the introduction of quantitative easing measures, which it was hoped would help reduce borrowing costs, and this has already had some knock on effects. Less than two weeks ago, the cheapest 5 year fixed rate was a fantastic 3.95%, one of the lowest 5 year fixed rate mortgages seen in the UK. However, today, the best you can achieve is 4.24%, still attractive but an increase that will cost a borrower with a £200,000 interest only mortgage an extra £2,900 over 5 yrs.

These headline grabbing rates are also usually reserved for borrowers who have at least 25%, and often 40% equity in their homes, and as house prices continue to fall, fewer homeowners will qualify.

Those borrowers that don’t qualify for the lowest rates face a very difficult decision. Do they take what is historically still a competitive fixed rate, or do they save money now and stay on their lenders standard variable rate (svr). If they opt for the svr they are likely to see their equity eroded further, and run the risk that fixed rates in the future could be considerably higher.

Many lenders will not lend to borrowers with less than a 15% stake in their home, so fixed rates are harder to find. Richard Morea from London & country Mortgages advises, ‘Whilst it’s unlikely that rates will climb steeply in the near future, a combination of any rise, and the continued erosion of equity mean that whichever rate you qualify for, now is the time to consider a fixed deal, and take action to secure it!’

For more information and no-fee advice, borrowers should call free on 0800 373300.

London & Country (L&C) is the UK’s leading no-fee mortgage broker. Based in Bath, it provides whole of market advice via telephone and post to clients nationwide. As well as residential mortgages, it also specialises in the Buy-to-Let and adverse-credit sectors.

L&C is a Climate Neutral company and for the last seven years has invested in climate friendly projects and tree-planting to help offset its emissions and those of its customers. For more information, go to www.lcplc.co.uk/green

L&C has won numerous awards including:

Best Mortgage IFA/Adviser of the Year – Money Marketing, 2004, 2005, 2006 and 2008
Best Technology Adviser – Money Marketing 2007
Best Mortgage Broker outside London – Mortgage Strategy, 2004 and 2005
Best National Broker – Mortgage Introducer 2005, 2006 and 2007
Best Overall Broker – Mortgage Introducer 2005
Overall broker of the year – Pink Home Loans, 2006 and 2007
Top 100 company in the Sunday Times Fast Track 100 for 2004 and 2005
Business of the Year – The Bath Business Awards 2005
Growth Strategy of the Year – National Business Awards (Wales and West) 2008
Business Leader (Broker) – British Mortgage Awards – 2008
Online Mortgage IFA of the Year – Financial Adviser – 2008

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Banks, Debts, Financial, Financial Services, Foreclosure, Home Equity, Loans, Mortgage

Stop Foreclosure On Your Home, Work With A Loan Modification Specialist

The HRP Office, www.hrpoffice.com, is open in Surfside Beach, South Carolina and ready to assist clients with their mortgage needs. The owner, Dr. Michael W. Cantrell, Sr. and his staff are experienced loan modification specialists. Their long time strong relationship with most major banking institutions enable them to work faster, smarter and less expensively than other loan modification companies. Clients of HRP, LLC quickly come to recognize them as the experts in helping them get their loans successfully modified.

What kinds of situations can the HRP Office, www.hrpoffice.com, help their clients with?

Homeowners who are behind on their mortgage payments
Homes currently in foreclosure 
Homeowners have an ARM that has adjusted higher or will adjust higher in another month or two
Homeowners who have a legitimate hardship
Reduced income, reduced hours, pay cut, loss of job, relocation, demotion
Homeowners who went on Disability or Workers Compensation
Divorce/Separation
Excessive medical bills
Back taxes that are currently being paid back 
Death of household provider
Failed business

The staff at HRP, www.hrpoffice.com, guarantees their services 100%; they are an industry leader in loan modifications. With a staff of licensed attorneys as well as experienced processors and negotiators, they work together to handle each and every case with the utmost care and concern. Lenders have very specific guidelines that must be met before they will agree to modify a loan. HRP knows what those guidelines are and how to get their clients the very best possible option available. They work for the homeowner, not the lender, so your best interests are their main concern.

What can the HRP Office, www.hrpoffice.com, do for their clients?

Pre Qualify a case at no cost to the homeowner
Provide the homeowner with access to their account online 24/7
Prepare a comprehensive modification package to best position each case for success
Engage in hard line negotiations with lenders to ensure the best possible outcome for their clients
Stop collection calls on overdue mortgage payments
Postpone imminent sale dates so the homeowner can breathe easier

Custom Analysis for Each Client
The staff of the HRP Office, www.hrpoffice.com, understands that everyone’s financial situation is unique, which is why they offer comprehensive, personalized, and proven modification programs that get results. The legal experts at HRP understand the importance of providing individual services that are tailor made to effectively meet the personal financial needs of their clients.

100% Guarantee
Dr. Michael Cantrell and his staff take pride in their level of service and client support and are committed to providing the most rewarding experience possible. HRP’s, www.hrpoffice.com, web-based software allows their clients to have access to their account 24 hours a day 7 days a week. People can check the status of their loan modification case at any time. Clients can also contact their HRP team members via email, fax or phone at any time. Dr. Cantrell had this to say about HRP “Our specialized attorneys, paralegals, negotiators, processors and customer service professionals are unmatched. We provide customized, personal attention to your individual situation and we emphasize customer support and long term solutions for you. Simply put, we strive to provide the best customer service in the industry, and our results-oriented negotiators take pride in consistently meeting and exceeding our client’s expectations. Ultimately, we provide clients with renewed financial optimism and a valuable savings of time and money. In addition, our company has the resources, banking relationships, ethical standards and legal expertise that other companies cannot offer which can translate into significant benefits for our clients.”

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Banks, Checking & Savings, Financial Services, ISAs, Money, Personal Finance

The New M&S Advantage Cash ISA Option Is Attracting Record Numbers Of Savers, With Over Twice As Many Accounts Opened Since Its Launch In January Compared With During The Whole Of 2008

Customer feedback indicates that many are basing their choice to save with M&S Money not only on the rate itself, but also on brand trust and security. Recent research reveals that for a third of people (34%) the most important factor when choosing a home for their money is a savings provider they can trust*.

As well as seeking a trustworthy provider, customers are looking for value in terms of pricing, quality and service**. M&S Advantage Cash ISA is currently one of the most competitive in the market. Fixed rate options are also available, and customers can split their annual Cash ISA allowance between variable and fixed rates, using one simple application form.

Colin Kersley, M&S Money Chief Executive, commented; “Financial stability is a priority for savers in these uncertain times, with trust and value becoming key factors for customers when choosing a savings provider. Record numbers of savers are applying for new Cash ISAs with M&S Money or transferring from other providers, and they tell us it’s because they have trust in the brand.”

All cash savings with M&S Money are protected under the UK Financial Services Compensation Scheme, so the first £50,000 per customer of any cash savings are 100% guaranteed. M&S Money is part of HSBC, one of the world’s largest banking and financial services organisations.

Advantage Cash ISA option
Minimum deposit £100 lump sum, or £25 by monthly direct debit, up to Cash ISA allowance of £3,600 per tax year, transfers from other ISA providers allowed. The Advantage Cash ISA interest rate of 3.10% includes a 1% bonus until 21st April 2010, after which the rate will revert to 2.10% AER/tax-free variable.

Fixed Rate Savings
Within an ISA – minimum deposit £500 up to Cash ISA allowance of £3,600 per tax year, transfers from other ISA providers allowed. Outside an ISA – minimum deposit £500, maximum £1 million.

This is a strictly limited offer and is available both inside and outside an ISA. Early withdrawals are permitted during the term but will be charged at a fixed flat withdrawal charge (£50 for 1 year term, £75 for 2 year term, £100 for 3 year term). The charge may mean a customer gets back less than they originally deposited if they withdraw their savings before the term end date. Partial withdrawals are not permitted.

* Research carried out on behalf of M&S Money by YouGov 9th – 11th January 2009, among 2,120 people aged 18 and over.
** YouGov and the Credit Crunch, 21st November 2008 – key factors in consumer choice (savings), c.35% safety/security/confidence/reputation, c.25% price-related factors (interest rate).

About M&S Money
M&S Money (the trading name of Marks & Spencer Financial Services) was founded in 1985 as the financial services division of Marks and Spencer Group plc. The company is now a top ten credit card provider and the secondlargest travel money retailer in the UK. M&S Money also offers a range of insurance cover, including home insurance, wedding insurance and pet insurance, as well as loans, savings and investment products.

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Banks, Checking & Savings, Financial Services, ISAs, Money, Personal Finance

Lloyds TSB Announces That It Will Be Increasing Rates On Its Fixed Rate Cash ISA By Up To 1 Per Cent

Available from 24th March 2009, the rate on the Lloyds TSB Fixed Rate Cash ISA is guaranteed for 12 months from the date of account opening. Accounts can be opened with a minimum deposit of £3000 and will accept transfers from previous tax years.

Colin Walsh, managing director savings and investment at Lloyds TSB said: “This latest rate increase is just one example of how we are working to help savers make the most of their money in today’s difficult economic climate. Given the current low rate environment, it is more important than ever to make use of your tax free allowance and we would encourage savers to take action before the tax year end on April 5th.”

Existing customers who already hold a balance within the improved tiers will also see their rate increase from the 24th March. This means customers who have a balance of £9000 or more will earn a guaranteed rate of 3 per cent for 12 months.

Research from the bank shows that almost half of savers would prefer a fixed rate, in today’s uncertain economic climate.

Colin Walsh continued: “The ISA market has been active for ten years now and many savers have built up a substantial tax free nest egg. Unlike a number of the headline ISAs on the market, our product allows customers to transfer in their previous ISA savings, so they can earn a competitive rate on the maximum balance.”

More information on the Lloyds TSB Fixed Rate ISA is available through branches of Lloyds TSB or online.

Rate increase applies to 2009 Fixed Rate Cash ISA launched on 16th
February 2009. Rates on 2008 Fixed Rate ISA remain unchanged.

About Lloyds TSB: 
Lloyds TSB offers customers a wide range of current accounts, savings accounts, insurance, personal loans and credit cards, designed to meet different customers’ needs. Lloyds TSB Bank plc and Lloyds TSB Scotland plc are authorised and regulated by the Financial Services Authority and signatories to the Banking Codes. Lloyds TSB Bank plc Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 2065. 

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Banks, Bonds, CDs, Checking & Savings, Financial, Financial Services, Interest Rate

NS&I Changes Premium Bonds Prize Structure And Variable Rates On Savings

NS&I has announced that f r o m the April prize draw onwards one of the two monthly Premium Bond jackpot prizes of £1 million will be replaced by a wider mix of prizes in the monthly draws, allowing more people to win but still retaining the chance of winning the £1 million jackpot prize. Similarly, a new £25 Premium Bond prize will be introduced and used alongside the existing prizes (ranging f r o m £50 to£1 million). These changes have been introduced because Premium Bond holders say that maintaining the chances of winning tax-free prizes on a regular basis is particularly important to them.

In addition to these changes, NS&I is reducing the Premium Bond prize fund rate f r o m 1.8% to 1%. This rate will be held at least until the June 2009 draw even if there are further changes to the base rate. This is the first change NS&I has made to the prize fund rate since December last year – during which time the Bank of England base rate has fallen f r o m 3.0% to 0.5%. The revised prize fund rate will come into effect f r o m 1 April 2009.

The current odds of each £1 Premium Bond number winning any prize will remain unchanged at 36,000 to 1, so with average luck an investor with £30,000 in Premium Bonds could win 10 tax-free prizes a year. The unclaimed premium bond prizes range all the way f r o m £25 up to £100,000. NS&I gives away over one million tax-free* Premium Bond prizes each month.

NS&I is also reducing the interest rates on its other variable rate savings by up to 0.50%, following movements in the Bank of England base rate. The revised interest rates will come into effect f r o m 18 March 2009.

Peter Cornish, Director of Customer Offer, NS&I, said: “Premium Bonds are unique and are hugely popular with our customers. Replacing one of the £1 million jackpot prizes with a wider mix of prizes and introducing the new £25 prize category will help us maintain the frequency of tax-free prizes – something that we know is particularly important to Premium Bond holders. “

He continued, “We always aim to reward as many of our customers as possible f r o m the prize fund available, together with having the right mix of prizes. We continue to pay out hundreds of thousands of tax-free prizes each month and customers also benefit f r o m a 100% guarantee on their investment because we are backed by HM Treasury.”

As always, NS&I will communicate all of these changes to customers via a range of outlets, including press advertisements and NS&I’s website, as well as putting an updated Premium Bonds prize draw details leaflets in all Post Offices and updated interest rates leaflets in most branches of WH Smith throughout the UK.

* Tax-free means that interest and prizes are exempt of f r o m UK Income Tax and Capital Gains Tax Gross means the taxable rate of interest without deduction of UK Income Tax.

 

When interest rates are s e t on tax-free products, NS&I takes into account the amount of tax the Exchequer would have received if the product had been taxable.

About NS&I
NS&I is one of the UK’s largest financial providers with 27 million customers and over £94 billion invested. It is best known for Premium Bonds, but also offers inflation-beating savings account guaranteed equity bonds, savings bonds easy access accounts and children’s bonus bonds in its range. All products offer 100% security, because NS&I is backed by HM Treasury.

Out of hours above number diverted to staff mobile phone ISDN line for interviews: 020 7602 4522.

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Banks, Checking & Savings, Financial, Investment, ISAs, Money, Personal Finance

New Fixed Rate Cash ISA By Lloyds TSB

Lloyds TSB has announced the launch of a new Fixed Rate Cash ISA, offering savers the opportunity to earn a competitive tax free rate up to 3.20 per cent.

Available from 16th February 2009, the new Fixed Rate Cash ISA rate is guaranteed for 12 months from the date of account opening. Accounts can be opened with a minimum deposit of £3000 and will accept transfers from previous tax years.

Janet Pope, savings and investments director at Lloyds TSB said: “In this unpredictable rate climate, savers are moving towards fixed rate products. The security of knowing exactly how much you will earn on your savings is invaluable in today’s uncertain environment. This product is ideal for those looking to get a guaranteed, tax free return on their nest egg.”

Nearly half (46 per cent) of ISA holders questioned by the bank say they will be opting for a fixed rate in the 2009/2010 tax year, with only 11 per cent willing to take a chance on a variable rate ISA. Just seven per cent of savers believe that interest rates will rise in the next 12 months, but almost a quarter (22 per cent) anticipate further cuts.

Janet Pope continued: “Now is not the easiest time to be a saver, as interest rates are at an historic low. This makes it more important than ever to utilise the tax free allowance available, but with the 2008/2009 tax year end looming on April 5th, six out of ten ISA holders have not yet taken full advantage.”

The findings show that 63 per cent of ISA holders have yet to use the full £3600 available to them, with a further 40 per cent admitting they do not have an ISA despite having savings elsewhere.

Research conducted by ICM online with 2000 UK adults in February 2009
A minimum deposit of £3000 is required
Customers may only make one deposit for the 2009/2010 tax year

About Lloyds TSB:
Lloyds TSB offers customers a wide range of current accounts, savings accounts, insurance, personal loans and credit cards, designed to meet different customers’ needs. Lloyds TSB Bank plc and Lloyds TSB Scotland plc are authorised and regulated by the Financial Services Authority and signatories to the Banking Codes. Lloyds TSB Bank plc Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 2065.

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