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Virgin Money launches new ‘early bird’ ISA service

Virgin Money has launched a new ‘early bird’ ISA service for savers. By opening an Early Bird ISA Feeder, customers can use the service to start earning interest on next year’s ISA allowance now – without having to wait for the new tax year to start in April. The Early Bird ISA Feeder offers a competitive interest rate of 3.57% gross**/AER***, or 2.85% net, giving savers the same return as Virgin Money’s current variable cash ISA. The interest rate is fixed until 5 April 2012, following which the funds will automatically transfer into an Early Bird ISA for the new tax year.

The Early Bird ISA is a variable rate instant access cash ISA, paying 2.85%. This attractive headline rate offers good value for customers and it does not include a short term introductory bonus.

Accounts are available to open through Northern Rock branches, by post or by telephone, and savers can invest between £1 and the new 2012/13 cash ISA limit of £5,640.

Anthony Mooney, Mortgage and Savings Director at Virgin Money said: “Our new early bird ISA service means customers can take the hassle out of arranging their ISA for the next tax year by sorting it out early. Savers can earn an attractive interest rate between now and the start of the new tax year in our Early Bird ISA Feeder, safe in the knowledge that their money will automatically transfer into a tax-free ISA account in April.”

Interest earned on the Early Bird ISA Feeder will be paid to a nominated account on 5 April 2012, and does not allow any withdrawals or closure until the new tax year. Additional deposits can be made to the Early Bird ISA Feeder until 30 March 2012 up to a maximum of £5,640 per account. Once the funds have transferred into the Early Bird ISA, withdrawals can be made without notice, and additional deposits and transfers in from existing ISA accounts are permitted within HMRC regulations.

The Virgin Early Bird ISA Feeder and Virgin Early Bird ISA are personal deposit accounts with Northern Rock plc. The Financial Services Compensation Scheme (FSCS) provides protection to customers with these accounts under Northern Rock plc’s existing FSCS membership up to a maximum of £85,000 per person. The £85,000 limit relates to a customer’s combined deposits with Northern Rock plc under the Northern Rock and Virgin Money trading names.

Via EPR Network
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Credit Suisse Provide Q4 Market Commentary on European ETFs

European ETFs ended a challenging 2011 with total assets of USD 259.88 bn and net new assets of USD 18.23 bn. Positive inflows in the first seven months of the year began to reverse in August. A divide opened up between physically replicated funds, with continued positive inflows, and synthetically replicated ETFs which – coming under intense regulatory scrutiny – experienced large outflows. Relatively speaking, the European ETF market weathered the storm much better than the larger UCITS industry.

Credit Suisse ETFs Sales Strategist Ursula Marchioni reviews the ETF industry trends in her quarterly market commentary. Key findings of the quarter are:

Political uncertainty in Europe

Political uncertainty and the lack of a comprehensive solution to the euro sovereign debt crisis continued to impact European ETFs in Q4. After a flat October, outflows accelerated in November and December. In contrast, the US ETF market – facing similar underlying macroeconomic issues to Europe – did not experience the same crisis of confidence. Most likely due to its more mature and less fragmented status, the US ETF market, recorded a very different year to Europe, with inflows of USD 115.76 bn and only one negative month (May). The US ETF result reinforces our opinion that ETF growth will continue globally, and will gain strength in Europe when the underlying market uncertainty and regulatory scrutiny experienced here subsides.

Regulatory scrutiny intensifies

The increased regulatory scrutiny of synthetic ETFs highlighted in our Q3 market commentary continued to contribute to the outflows from these funds seen in last quarter. Since the publication of a European Securities and Markets Authority (ESMA) discussion paper in July addressing the risks of synthetic funds, a big divide has opened, with positive results for physically replicated funds and outflows mostly concentrated in synthetically replicated funds. Investors appear to prefer cash-based ETFs, placing USD 21.50 bn into physically replicated ETFs, in contrast to redemptions of USD 3.27 bn from synthetically replicated ones.

ETFs remain relatively attractive

Despite the negative flows in Q4, the European ETF market remains attractive to investors – illustrated by the USD 18.23 bn total inflows for the year – and particularly when compared to the much larger European UCITS fund industry. In contrast to the inflows recorded in European ETFs in 2011, by the end of November UCITS funds had recorded an outflow of EUR 84.5 bn. The disparity between the performance of the two investment vehicles is even more marked due to the fact that nearly 90% of European ETFs’ AUM is constituted in UCITS funds .

Credit Suisse expects 2012 to be a positive year for the European ETF industry

Some headwinds remain with respect to the health of the global economy and while a solution to the Eurozone crisis remains elusive, macro tools such as ETFs should continue to hold their position as a wrapper of choice for a variety of risk/return profiles. On January 30th, the European Securities and Markets Authority (ESMA) clarified its position on ETFs, and this should allay some of the investor concern over regulatory risks that was prevalent in the market in 2011. Ultimately, we expect to see a return to the fundamentals of indexing, with both the industry and regulators taking further action in clarifying the risks of different types of exchange traded instruments.

For a detailed account, please download the full Year End 2011 Market Commentary on European ETFs.

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Barclays Bankers May Lose £1bn Bonus To PPI Claims Says PPI Claims Company Simple Financial Solutions

Barclays bank is considering a move that will see the bonuses planned for its staff cut to pay the fines and compensation claims for PPI mis-selling, and may even institute a claw back of bonuses already paid, says PPI Claims Company Simple Financial Solutions.

In the wake of Sir John Vickers banking reform report, Barclays Chief Executive Bob Diamond has put forward the idea that some of the large fines for PPI mis-selling could be met by withholding the bonuses of its staff as a type of penance and using the money to meet its PPI mis-selling commitments instead.

In a meeting with the MPs of the Treasury Select Committee, Mr Diamond was taken to task by Committee Chair Andrew Tyrie about PPI mis-selling. In explaining that the staff responsible for the mis-selling had now gone, Mr Diamond added in reference to the PPI fines: “We are taking into account in our businesses that impact in our remuneration.”

Some believe his comments have come following the decision of Lloyds bank to claw back some of the bonus its chief executive, Eric Daniels, received because of the heavy financial toll of £3.2bn the PPI mis-selling scandal  is predicted to have on the lender.

However, Mr Diamond appeared to be losing patience with proceedings when later asked about bankers’ level of pay and remarked that it was ‘disappointing’ to be asked about it again. ‘I was looking forward to a discussion on the Independent Commission on Banking and its report and we’re right on to the same issues as last time, which I do find disappointing,’ he said.

A spokesperson for PPI Claims Company Simple Financial Solutions, said: “It seems that the bankers wish everyone would just shut up and forget about the PPI mis-selling scandal, as if it is water under the bridge, old history, best forgotten. Nobody has forgotten Mr Diamond’s comments earlier this year when he proclaimed the time for‘remorse and apology’ was over. The trouble is, it isn’t and it won’t be. Barclays has been identified as being one of the worst offenders for dragging its heels over settlingPPI claims and until the matter is fully concluded and Barclay’s customers are properly and fairly treated, Mr Diamond will hear a great deal more on the subject.”

“Cutting staff bonuses for poor performance is just the start of the steps Barclays should be taking to get its house in order. A bonus claw back from those senior manager who time and again failed at their jobs and caused this mess would be a good idea and might see Barclays earn a little lost respect back from customers.”

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Confused.com Launches New Partnership With Quotemehappy.com

Confused.com has launched a new partnership with Quotemehappy to offer insurance to careful drivers. Quotemehappy.com is an insurer that is specifically set up for careful drivers who want reliable, low-cost policies.

Confused.com’s comparison service makes it easy for customers to compare car insurance and with the new relationship with Quotemehappy.com, customers have even more choice.

Quotemehappy.com offers a comprehensive policy to careful drivers. The insurance brand keeps its costs as low as possible by operating online and premiums are also kept down as Quotemehappy.com is very clear about who it will and won’t insure. For example, it will not insure new drivers, those with older or more expensive cars or drivers who have had more than one at-fault claim in the last four years.

Marco Distefano, Managing Director of Quotemehappy.com, said: “Quotemehappy was created to give careful drivers a fair pricing and personal service when getting car insurance.

“At Quotemehappy.com we have negotiated some fantastic premiums with our specialist panel of insurers and see Confused.com as the ideal partner to ensure that this brand continues to reach the maximum number of potential customers as possible, whilst further enhancing Confused.com’s commitment to provide a specialist quote for every client, from every background with any specific needs.”

Gareth Kloet, Head of Car Insurance at Confused.com, continued: “At Confused.com we want to offer our customers the right cover at the right price by offering genuine value for money, a quality product and competitive prices for careful drivers. Adding Quotemehappy.com to the ever increasing number of insurers that we compare prices for is a great result.”

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Confused.com Reveals £203m Worth Of Car Damage Caused By Misleading Sat Navs

New research from Confused.com has revealed that Sat Navs have caused over £203m worth of damage to drivers on UK roads, through accidents caused by misleading directions. With the Department for Transport holding its first ever Sat Nav Summit in March, the issue of misleading Sat Navs has become an ever-increasing problem across the nation.

A staggering 83% of British drivers have admitted to being misled by their Sat Navs, resulting in over half the country (52%) screaming at their devices. 68% of the drivers end up with longer journeys and clock up unnecessary miles while 45% of British drivers have confessed to feeling angry and frustrated while behind the wheel, which in turn has led to 31% of British motorists red faced, spending between£100 – £500 on Sat Nav related car damage.

Whilst it’s mainly men who blame their car damage on their Sat Nav, women are more likely to admit that it leads them astray. Women also get more frustrated than men, with 57% of female drivers freely admitting that they scream at their Sat Navs, a shocking 12% higher than male drivers.

On a national scale, drivers in the East Midlands fared the worst with their Sat Nav relationship, with 57% shouting at their Sat Navs and 50% feeling frustrated behind the wheel. Northern Ireland has proved the most docile with only 31% getting angry at misleading Sat Nav directions. 80% of Scots claimed to be given misleading directions constantly by their Sat Navs leading to over half (51%) of Scottish drivers screaming at their devices. The research did however pinpoint the Welsh city of Aberystwyth as the worst for Sat Nav anger management with an alarming 75% admitting to regularly losing their temper.

With the amount of Sat Nav accidents occurring across the country, and the pending Sat Nav legislation, Confused.com is calling for British motorists to register their Sat Nav blackspots from around the UK on Confused.com.

Gareth Kloet, Head of Car Insurance at Confused.com, said: “As car insurance costs continue to rise, it’s never been more important to keep your motoring costs as low as possible. Our research has shown that the Sat Nav is not always the blessing it was once hailed to be and increasingly, motorists appear to be sighting the device as a source of frustration and danger. We hope that our Sat Nav blackspot map will not only help reduce risk, but we also hope that frustrated drivers get back behind the wheel a little happier.”

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Confused.com Reveals Young Male Drivers Pay Almost Double For Insurance Compared To Women

Confused.com/Towers Watson have revealed that the cost of car insurance for young men continues to go through the roof, with 17-20 year olds paying almost double what women drivers of the same age are paying.

Male drivers in the 17-20 year old age group are suffering as female drivers pay£1,771 less than the men UK-wide: it currently costs an average of £1,959 for women aged 17-20 to insure a car compared to £3,730 for men. These are the findings of the Confused.com/Towers Watson Car Insurance Price Index (Q4 2011), which is based on more than 4 million quotes.

Young people are feeling the impact most, with car insurance for young drivers seeing huge rises from the previous year. Regionally the picture is even more surprising: young men passing their driving tests in inner London can expect to be quoted an average of £5,523 to insure their car if they are aged 20yrs or younger which is more than 48% higher than the average for this group and 5.7% more than they paid in Q4 of 2010 meaning taking the time hunting around for the cheapest car insurance even more worthwhile. Their counterparts in Manchester and Merseyside fare even worse, with average costs of £5,724 facing them to insure their cars when they throw away the ‘L’ plates, a shocking rise of 10.6% year-on-year (Q4 2011 compared to Q4 2010). A 17-20 year old female in inner London can expect to pay £3,261 on average: a rise of 4.4% year-on-year, and they are paying an average of £3,307 in Manchester/Merseyside – a 9.9% rise year-on year. A high cost, but this is still more than £2,000 less than men of the same age.

When a driver adds another person to their comprehensive policy, average costs come down, so a 17-20 year old man pays £3,907 (UK average) as the only driver, but when they add on another driver the costs fall to an average of £3,345, a saving of more than £500. For 17-20 year-old women the UK average is £2,046 if they are the only driver and this falls to £1,819 for 17-20 year olds with another driver on their policy.

Comprehensive car insurance for women across all ages and regions fell marginally in quarter 4 of 2011 (-1.3%), but prices continued to rise for men, although by just 1% in quarter 4. Year-on-year, it was 61-65 year old men who saw the biggest jump in costs, with a 7.4% increase, bringing the average premium for men of that age group to £504. For women drivers it was the 26-30 year olds who saw the steepest jump in prices with 7.2% hikes, giving an average of £789.

Gareth Kloet, Head of Car Insurance for Confused.com commented: “From December, EU legislation will mean that insurers can’t use gender as a factor in setting prices. The differences highlighted in our report show that there is still a huge disparity between what men and women are being charged for their car insurance. Insurers clearly still have a long way to go to comply with the new legislation. It’s more important than ever to shop around and we’re committed to making it easier for people to save money on their car insurance.”

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Mortgage Network of Ohio Plan to Assist Ohioans Everywhere Find That Perfect Mortage

Unlike banks, the Mortgage Network of Ohio believes that when it comes to finding the perfect mortgage, there is always more than one option. They’d now like to pass this message onto Ohioans everywhere.

The company, one of the State’s leading Mortgage Lenders and mortgage Cincinnati, are currently doing business across the area. So much so that they’ve recently worked hard to improve on what they specialize in, in order to offer an even better service to buyers.

“At The Mortgage Network of Ohio, we believe that our clients should have more than one option on a Mortgage. We will take their application, work every possible scenario, then offer them options of loan programs available to meet their needs. Our objective is to maximize the profitability of the homeowner’s experience by eliminating the hassle of shopping.” – says Jeff Steinacker, president of the Mortgage Network of Ohio.

The company has a long history of helping thousands of families in the Ohio, Kentucky and Indiana region find their perfect home financing option – and have a strict process they adhere to with each application. This expansive service and investment in time ensures that each client finds a financing option that suits their needs, timeline and budget.

“Essentially, our ultimate goal is to help everyone get the keys to their dream home as quickly as possible. We can also assist them with refinancing, debt consolidation, home improvement, home loan Cincinnati, FHA and reverse mortgages” they say.

To find out more about the services that the Mortgage Network of Ohio offer, to speak with one of their experiences and skilled staff and to get yourself on the road to that set of shiny new house keys, please visit them online at:themortgagenet.net/

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Confused.com Launches New Points Promotion With Nectar

Confused.com has announced it will unveil a new promotion with Nectar, the UK’s largest loyalty programme. Customers will receive 1,000 Nectar points for every car insurance policy they buy through Confused.com. The promotion is running from 12 December 2011 until 31 March 2012.

Confused.com’s Nectar Points promotion will be supported by a 30 second TV advert and radio advert running from 23 December. The adverts will feature animated logo Cara singing ‘YMCA’, with some unique wording added to highlight the Nectar promotion.

Will Shuckburgh, Nectar Client Development Director, commented: “We’re thrilled to be building on an already successful partnership with Confused.com. This is another fantastic way for our card holders to collect more Nectar points whilst getting a great deal on car insurance. It’s great to be working with a leader such as Confused.com, as we know this is something our savvy Collectors will take advantage of and continue to get excited about.”

Mike Hoban, Marketing Director at Confused.com, said: “Confused.com was the first site to offer price comparison for car insurance, so saving people time and money is at the very heart of our business.The promotion with Nectar offers our customers an added reward when they choose to buy cheaper car insurance with Confused.com.”

The Confused.com advert will be aired from 23 December. Find the latest Confused.com games, videos and more from the Cara Confused page.

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Saxo Bank And ICAP Shipping Involved In World’s First Electronic Container Freight Swap Settled In USD

Saxo Bank, the trading and investment specialist, and ICAP Shipping, the shipping arm of ICAP plc, announced on Thursday that they were involved in the execution of the world’s first electronic, voice-assisted trade of a container freight swap agreement settled in US dollars.

The counterparties to the trade were Saxo Bank in Denmark as the buyer and a Netherlands-based trading house as the seller. ICAP Shipping was the broker of the trade. The container freight swap agreement was executed on ICAP’s Webtrader platform, with manual input from ICAP Shipping brokers and cleared by LCH.Clearnet.

The trade was executed by rugby star Lawrence Dallaglio during ICAP’s 19th annual Charity Day. On ICAP Charity, all ICAP revenues are donated to a selection of 200 charities and celebrity patrons are invited to help close deals. Mr. Dallaglio attended ICAP Charity Day in support of Cancer Research and Great Ormond Street Hospital.

Container freight swap agreements lock in the freight exposure for standard containers transported from Asia to Europe, Mediterranean countries and the United States. Cash flow for this sort of freight exposure has been unpredictable for retailers, importers and logistic companies in the past and the concept of pricing container freight against indices and using swap agreements to manage the risk has attracted many industry participants over the last year. Screen execution with the added surety of voice broker assistance was a key requirement of customers.

Henry Liddell, CEO ICAP Shipping said: “The execution of the world’s first electronic container freight swap agreement is an important milestone in the on-going development of the container swaps market. This youngest segment in the shipping industry has seen a rapid growth over the last decade and will become an even more important risk management tool in the current economic environment. Container swaps are a hedging tool for the container industry to manage the price volatility of the physical market.”

Johan Gade, Freight & OTC Derivatives, Saxo Bank said: “We fully support electronic freight derivatives trading and believe that going forward container swaps will be a valuable addition to the electronic dry bulk and tanker freight derivatives offering we are about to launch.”

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Confused.com Find Brits Are A Nation Of DIY Lovers But Pay The Price In Home Insurance Claims

Confused.com has revealed that fifty-three per cent of homeowners are doing their own home improvements due to an increase in living costs. However, many of these projects are ending in disaster, with 11 per cent of those who ‘have a go’ then claiming on their home insurance.

A recent study by the Institute of Fiscal Studies warned that households are looking at a 3.8 per cent fall in earnings with data for the first 11 months of 2010-11, marking the largest fall in disposable income since 1981. As a consequence of this strain on income, homeowners in the UK are turning their hand to DIY.

Aside from money issues, the Confused.com survey also showed that thirty-nine per cent of Brits claim to have undertaken home improvement work after watching DIY programs; their favourite being Grand Designs (22 per cent).

Homeowners in Scotland and the West Midlands are most likely to do their own home improvements, with 23 per cent claiming to do DIY, compared with the North East where only 11 per cent do DIY.

Fifty per cent of homeowners in Northern Ireland also claimed to have done a successful job, compared with 26 per cent of homeowners in Wales who said their inspirational home improvements looked dreadful and out of this 26% of Welsh homeowners, if money were no object, then 67 per cent would pay someone to do their DIY.

Of all those UK homeowners surveyed, 31 per cent of these budding Kevin McClouds admitted to having DIY mishaps, and of these 31% homeowners, most disasters were taking place in households in Scotland (12 per cent) and Wales (12 per cent) resulting in home insurance claims.

Despite tackling DIY to save money, 6 per cent of Scottish homeowners have paid over £1,000 in the past 24 months rectifying their DIY disasters. A further15 per cent of Scottish homeowners have paid £200 or more in the same period, whereas those living in Northern Ireland paid out over £350 in the last two years to fix botched DIY. In Wales, 13 per cent said they have paid out £300 fixing bad DIY jobs in the last two years.

Mark Gabriel, Confused.com Home Insurance spokesman, said: “With the economy so fragile, people’s finances are under more pressure and things aren’t getting any easier particularly with the rise in petrol prices and food prices. Therefore people have turned to ways of saving money and have been inspired by home improvement programs.

“However it is important to remember that television often makes tasks look easier than they are. In fact, some home insurance policies stipulate that only professionally accredited tradesmen should carry out certain work, so it is worth checking that you are not inadvertently rendering your insurance invalid by failing to read the small print.

“It is important to look at your home insurance policy to check that you are fully covered, should things go wrong, and to check their policy details carefully. It is also necessary to take extra safety precautions, as DIY disasters can cause accidents.”

For more information on home insurance, flat insurance and staying safe while DIYing, visit Confused.com.

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Saxo Bank Comments On Eurozone Sitation Ahead Of EU Leaders Summit

Saxo Bank has released a new macro view video with Steen Jakobsen, Chief Economist, commenting on the situation for the Eurozone ahead of the EU leaders’ summit and in light of the major global central banks’ intervention to boost liquidity. The concerted central bank action has effectively resulted in the US printing money for Europe seeing as the European Central Bank will not, says Steen, adding that it’s like flying in a jet with one engine only – hardly a safe scenario.

The surprising joint intervention by the world’s largest central banks to make it cheaper for financial institutions outside America to borrow dollars has had a positive effect on risk sentiment, but is not expected to last long. For an extended rally or to just sustain gains something more needs to be put on the table, like better fundamentals, plus structural changes and real commitments to toing the line in Eurozone nations, says Steen. The reason being that the severe solvency issues in Europe and deep rooted growth problems are still very much plaguing outlooks.

One could argue that with the central banks having joined forces the pressure is now more so on European politicians to implement lasting austerity and commit to cleaning up their backyards and follow standard rules. The question is whether EU leaders will be able to set things straight once and for all when they meet for the seventeenth time to solve the issues. Steen remains doubtful.

In the meantime, the central bank action has resulted in the cost of emergency dollar funding being cheaper for European banks than US banks. Therefore there is increased expectation now that the Federal Reserve will lower its discount rate by at least 25 basis points before the new dollar swap rate kicks in on December 5. A deeper cut is also possible, he says but that would mean the Federal Reserve is virtually letting go and committing to printing money forever.

Steen also commented on the global macro situation, in particular China, following the Reserve Requirement Ratio cut amid a slowing growth scenario and in terms of timing in a global context. Meanwhile US data continues to please for now at least but he warns that the better numbers may be petering out.

The full video can be viewed at http://www.tradingfloor.com/blogs/macro-ad-hoc/global-central-bank-action-puts-heat-on-eu-summit-to-deliver-886705704.

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Saxo Bank Releases New Asia Focus Video

Saxo Bank, the online trading specialist, has released a new Asia Focus Video which features Andrew Robinson, Forex Analyst for Saxo Capital Markets in Singapore, analysing the People’s Bank of China’s decision to lower its reserve requirement ratio, whether it’s a taste of more cuts to come and how much it is a clear signal that the world’s second-largest economy is really slowing after all.

The unexpected People’s Bank of China’s announcement that it will lower its reserve requirement ratio on December 5, representing the first cut in three years, initially surprised markets and started a risk-on sentiment, particularly in equities and incited market hunger for more monetary easing.

As such, reserve requirement ratio cuts rarely come in isolation and more are likely soon, probably as early as next month, confirmed Andrew Robinson, FX Analyst, Saxo Capital Markets. He said the timing of this easing has to do with the flow of data of late which has pointed to a slowing in the economy and that it was acknowledgement of this situation. Furthermore it pre-empted the latest purchasing manager index data which confirmed a contraction scenario for the economy.

Commenting on the recent data from China, Andrew said: “Last month’s data was looking particularly soft and the expectations for this month are not particularly encouraging. If we look at the data that’s been coming out recently, it’s certainly suggesting that the market is slowing down.

“I think this is a pre-emptive move by the PBOC and they’re looking to continue it and build the economy.”

The focus in the coming days will now shift to inflation data with more declines in the consumer price index and an even greater drop in the purchasing prices index seen. Combined, this confirmation of a softening in price pressure effectively removes a hurdle the People’s Bank of China was facing in terms of the freedom to continue to ease monetary policy.

The video can be viewed at http://www.tradingfloor.com/blogs/macro-ad-hoc/more-chinese-easing-as-price-pressure-abates-removing-pboc-hurdle-1126984016, with many other forex videos available on the Saxo Bank site.

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Northern Rock Honoured For Its Community Service

Northern Rock has announced that it was commended in the Mortgage Finance Gazette Awards for its dedication to community service. The honours were given just six months after Northern Rock was heralded among the most responsible businesses in the UK.

After receiving Business in the Community’s (BITC) national Big Tick for its work to tackle financial exclusion, the readers of Mortgage Finance Gazette have now commended the bank in its annual awards.

The magazine’s readers nominated the lender in recognition of its work in the voluntary sector, and the judges, including journalists from the national press, industry experts, and the editors of ‘What Mortgage’ and ‘Mortgage Finance Gazette,’ were particularly impressed by the bank’s staff involvement in the community as well as other fundraising and voluntary activities.

Representatives from Northern Rock collected the commendation in the ‘Community Services Award’ for large lenders at an event in the capital last night. The December edition of Mortgage Finance Gazette, a publication about mortgages and the mortgage industry, features coverage of the event.

Northern Rock’s Customer and Commercial Director Andy Tate said: “We are absolutely delighted to receive a further commendation for our work in the community, and it is wonderful that our dedication to embedding this as part of our organisational culture is being recognised.

“Awards like this are further endorsement of the valuable role Northern Rock and its colleagues play in supporting its local communities, particularly those facing financial difficulty.”

Judge Joanne Atkin, Editor of Mortgage Finance Gazette said that she and her colleagues had had had a difficult job and that those who had been highly commended were truly deserving. She added: “Community is at the core of Northern Rock’s business strategy which is framed and communicated through four Cs – colleague, customer, company and community.

“Community within Northern Rock is about giving of both time and money. The Samaritans is Northern Rock’s corporate charity of the year but it also works with a number of good causes: Women’s Aid, a fight against domestic violence; The Cyrenians, which operates refuges for the homeless around the UK; Shelter, Crisis, The People’s Kitchen and a partnership which enables a small community-based bank to relieve the financial hardship of individuals and families resulting from poor money management, unmanageable levels of high interest debt and no savings.”

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Northern Rock Video Investigates Money Worries

Northern Rock’s latest video has put consumers in the spotlight as they reveal that by far their biggest money worry is paying the mortgage each month.

The bank took to the streets to find out what concerns people most about their finances, and the overwhelming majority of consumers confirmed their mortgage payment was their biggest financial worry.

As recent research undertaken by Northern Rock showed, many UK mortgage borrowers coming to the end of their fixed rate deal could be better off if they took a mortgage with Northern Rock. The bank is confident it can help reduce this concern for customers, and put them back in control of their finances.

Lloyd Cochrane, Head of Lending Products at Northern Rock said: “Fixed rate pricing across the market is at an all-time low and we continue to offer some very attractive deals, as well as our Freedom to Fix option, a Tracker which gives customers the opportunity to fix if interest rates should start to rise.

“We believe we can help many of these consumers to reduce their anxiety over their monthly mortgage payment by helping them find a Northern Rock mortgage that works for them. Whether you’d like the security of knowing what your payment will be for the next two years or you’re looking for more flexibility, we’re sure we have an option to suit you.”

More information on Northern Rock’s current range of mortgages can be found at its award-winning mortgages website, located at
www.northernrock.co.uk/mortgages/putting-you-in-control/.

The site also includes a range of interactive tools, such as a jargon buster, budget planner and mortgage calculator, to help take the complexity out of selecting the right mortgage.

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Confused.com Reveals That Keeping Diabetes A Secret Could Invalidate Life Insurance

New research by Confused.com has revealed that 26 per cent of people only have a vague idea what diabetes is, and worryingly 22 per cent of diabetes sufferers are not comfortable telling people about their condition, potentially putting their health at risk.

Keeping diabetes a secret not only makes diabetics more vulnerable but also means their life insurance could be invalidated.

This Confused.com research is supported by a survey conducted by Diabetes UK which shows that one in three people with diabetes have been keeping their condition a secret.

In light of this, Confused.com is warning against the dangers of keeping a medical condition secret and reminding people that their life insurance could be invalidated if they are not upfront about any condition they have been diagnosed with.

Diabetes is on the increase in the UK with one person diagnosed every three minutes. In fact 31% of people know someone with diabetes and there is an estimated half a million more people in the UK who are likely tohave diabetes but have not been diagnosed.

Diabetes is a more common condition than most people believe with an estimated 4 million people being diagnosed with this condition in 2025.

Matt Lloyd, Head of Life Insurance at Confused.com said: “Having a condition such as diabetes does not always mean you cannot get life insurance quotes. Particularly, if a person with diabetes is controlling their condition as directed by their doctor it is possible that they may be able to get a policy put in place. It is also worth going back to the insurer if you have made a positive change to your lifestyle since you were originally quoted for insurance because you may be entitled to a cheaper policy if you are healthier now than when you took out the policy.”

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Confused.com Launches Interactive Road Safety Map

Confused.com has launched an informative mapping tool that reveals the dangers of road rage. The interactive road safety map reveals the country’s most dangerous roads and junctions.

Cyclist and motorist rage is in the spotlight this Road Safety Week and, according to Confused.com, both cyclists and car owners have strong feelings about how to handle it.

Both cyclists and motorists are turning to social media to report incidents of road related anger with Confused.com identifying 2,674 tweets mentioning both ‘road rage’ and ‘cyclist’ during the first nine months of this year. In response to this emerging danger, Confused.com created the interactive map so that both cyclists and drivers can pinpoint rage blackspots.

In addition to the cycle safety map, a survey of 1,000 motorists and 1,000 cyclists carried out by Confused.com identified what sends cyclists into a ‘two-wheel tantrum’ and turns car drivers ‘cyclo-pathic.’ Along with the survey and the map, people can learn more about ‘cycle rage’ by watching a cycle issues video about the subject.

The survey found that 72 per cent of drivers have experienced one or more incidents involving a cyclist during the last two years. A quarter of these drivers were keen to see cyclists pay road tax and 14 per cent of drivers wanted to see cyclists displaying number plates on their bikes. Getting cyclists to pass a version of the driving test was a popular idea among 44 per cent of annoyed motorists, while 43 per cent said that they would like to see cyclists take out a form of insurance. Catching those who cycle through red lights was a top solution among 59 per cent of car drivers. Almost one third of motorists said that cycling on the pavement (which the Highway Code states is illegal) should be stopped.

Meanwhile, almost a quarter of the cyclists said they’ve been beeped at or sworn at by a motorist and more than one in eight had been knocked off their bike by a motorist. Additionally, 65 per cent of cyclists told Confused.com that they feel less safe than they did a year ago and 34 per cent say they’ve been a victim of road rage.

Cyclists have some suggestions about ways to improve their journeys. Some suggestions include legalising cycling on pavements (28 per cent), introducing more bike lanes (58 per cent) and increasing the availability of hire bikes (25 per cent).

Gareth Kloet, Head of Car Insurance at Confused.com, said: “Rage on the roads is a big problem for both motorists and cyclists and our research shows that both groups have much to complain about. Whilst both parties can point at differing solutions to help improve road safety, we urge all road users to exercise respect and courtesy as the roads are for everyone and tolerance could save people’s lives.”

Malcolm Shepherd, Chief Executive of Sustrans, the UK charity encouraging people to travel by foot, bike or public transport said: “People need to be more considerate and aware of all other users when making their journeys.”

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Saxo Bank Enables Online Islamic Trading

Saxo Bank A/S, the online trading and investment specialist, has enabled its clients to identify and trade Islamic compliant stocks and ETFs on more than 25 exchanges worldwide. The Bank selected IdealRatings Inc., a leading global Islamic compliant fund management service provider, as the most reliable source for identifying Islamic compliant instruments globally.

The compliance reasoning is based on commonly accepted and transparent Islamic guidelines defined by IdealRatings and Shariah Review Bureau with operations in Jeddah, Bahrain and Saudi Arabia and Manama. More than 12,000 stocks and Exchange Traded Funds (ETFs) are screened and researched on a monthly basis by IdealRatings.

Jakob Beck Thomsen, Regional head of Middle East and CEO Saxo Bank (Dubai) Ltd., said: “Islamic finance is one of the fastest growing sectors in the world today and we are excited to enable our clients to identify and trade Islamic compliant stocks online. IdealRatings is the industry’s most trusted brand for identifying and researching Islamic compliant stocks and we are confident in offering their data to our clients.”

Mohamed Donia, CEO of IdealRatings, added: “Saxo Bank A/S has always been an innovator and market leader in providing its clients with quality financial services and we are delighted to partner with them to provide this reliable information for their discerning investors.”

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Pioneer Services to Give Away $1,000 and Apple iPads® to Eight Lucky Service Members

Pioneer Services will make this holiday season one to remember for eight service members and their families thanks to the Mega Merry Giveaway, a sweepstakes just for active-duty or career-retired service members and their spouses. There will be four winners of $1,000 and four iPad winners—one winner of each from each military branch.

“The Mega Merry Giveaway is our way of thanking those who serve for all they have done for our nation, and in a way that captures the season’s spirit of giving,” said Karen Von Der Bruegge, chief marketing and retail operations officer for Pioneer Services. “The best part—other than the chance to win a thousand dollars or an iPad—is that there is no obligation and no strings attached. All they have to do is be on active duty, career-retired, or a military spouse, and they can enter to win. It really is that easy.”

Those who qualify can enter on the company’s Facebook page at Facebook.com/PioneerServices, or at www.MegaMerryGiveaway.com, which is also where they can find complete rules and details.

“We are incredibly excited for the winners to be selected December 11,” added Von Der Bruegge, “because that is when we will find out who is going to have a very merry holiday season on behalf of Pioneer Services.”

Pioneer Services, the military banking division of MidCountry Bank, provides financial services and award-winning education to members of the Armed Forces. For more than 25 years, Pioneer Services has been a leader in military lending, offering military loans,retail lending, VA loans, Certificates of Deposit, savings accounts, and award-winning financial education programs through a network of offices and on the Internet. Pioneer Services is proud to support military families and communities through a variety of partnerships, programs, and sponsorships.

For more information, visit PioneerServices.com. For loan information, visit PioneerMilitaryLoans.com.

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Confused.com Launches Exclusive Motor Brand Pink Pound

Confused.com has launched an exclusive motor brand called ‘Pink Pound’ on its insurance panel.

Pink Pound Insurance is a division of Right Choice Insurance Brokers specifically set up for gay and lesbian customers and cannot be found on any other major comparison site.

Every customer has the right to get a fair chance at getting car insurance and Confused.com, with its relationship with Pink Pound, allows every customer to be treated individually. The launch of the exclusive brand allows homosexual couples to get auto insurance discounts just like other couples.

‘Pink Pound’ insurance takes customers individual situations to identify ways of reducing their premiums, to obtain competitive rates, using some gay specific schemes whilst at the same time giving the most professional service.

Mike Joseph, Managing Director of Pink Pound said: “Pink Pound insurance was created to give the LGBT community the product, pricing and personal service that is lacking from most standard offerings.

“At Pink pound we have negotiated some fantastic premiums with our specialist panel of insurers and see Confused.com as the ideal partner to ensure that this brand reaches the maximum number of potential customers as possible. Whilst further enhancing Confused.com’s commitment to provide a specialist quote for every client, from every back ground with any specific needs.”

Gareth Kloet, Head of Car Insurance at Confused.com continued: “Adding Pink Pound to the ever increasing number of insurers that we compare prices for is a great result. We do not discriminate against anyone as it’s all about getting the right cover at the right cost and insuring that everyone has an equal opportunity in getting these deals.”

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Saxo Bank Receives Best Active Trading Tools Award At Shares Awards

Saxo Bank, online trading and investment specialist, has won the award for ‘Best Active Trading Tools’ at the annual Shares awards in London.

The Shares awards aim to recognise those organizations providing both innovative and high quality of service to the world of retail investment. The awards provide a platform for traders and investors to voice who are the best in the business.

Henrik Dyrholm Holst, Head of Platform Management at Saxo Bank, commented on the win: “Saxo Bank is proud to have been awarded for providing the industry’s leading trading tools. Saxo Bank is renowned for our online forex trading but SaxoTrader is a multi-product trading platform offering clients a wide range of opportunities to trade the world’s capital markets, from FX Options and Futures to CFDs on stocks, indices and commodities as well as popular investment products such as Stocks, Bonds and ETFs. We have continuously focus on making the trading experience for all types of traders as positive and intuitive as possible, and clearly guide users through the broad range of features on the platform. In 2011 we have also upgraded the platform with winners/losers stock in intraday real-time across all 23 stock exchanges covered by Saxo Bank. In addition, we continue our investment in optimizing and adding new trading tools and are happy to announce the imminent launch of our cutting edge trading apps for both Android and iPhone.”

Saxo Bank’s trading platforms have defined the company’s success in the online trading space for over a decade. Since introducing the SaxoTrader in 1998, Saxo Bank has enhanced and improved its platforms to meet the evolving needs of forex traders and investors in a continuously changing industry.

Shares is the leading weekly publication for stock market professionals and private investors and as such is read weekly by thousands of analysts, fund managers, stockbrokers, company directors and private investors. The Shares’ team of expert writers is highly regarded in the City and their comment frequently influences the market’s view of individual companies and their underlying share price. The magazine’s easy-to-read style and depth of analysis has made it the indispensable weekly read for those actively investing in the UK stock market today.

A full list of awards can be found at http://www.sharesawards.co.uk/awards/.

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