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Confused.com Reveal Drivers Are Only Swayed By Price In The Hunt For The Best Car Insurance Deals

Confused.com’s latest survey has found that consumers use price-comparison sites purely because they help slash insurance bills with the minimum of hassle.

More than half of the survey’s 2,600 respondents said that special offers such as cashback or vouchers had absolutely no bearing on their decision to use a comparison site. A further 40 per cent said the only kind of marketing incentive that would appeal to them was some form of discount on their premiums.

Head of car insurance at Confused.com, Gareth Kloet, said: “When it comes to car insurance, consumers aren’t necessarily loyal, so price is key. That’s why using a price comparison site is so important, it gives drivers the opportunity to compare not only price but a range of features. So you can either opt for the cheapest or the best value for money. With Confused.com, the price you see is the price you pay.”

When it came to choosing an insurer, three-quarters of consumers said the only thing that would cause them to switch providers was a cheaper price. Around 15 per cent said they would move to a new company purely because it was a trusted brand, while just 9 per cent said they would switch if the new insurer offered extras such as free breakdown cover.

Unsurprisingly, price was the number one reason respondents gave for using price-comparison sites – more than 90 per cent cited this as a major factor in using these services, and 40 per cent also said they appreciated the fact the sites saved them so much time in their search for the best value cover.

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Banks, Business, Currency, Financial, Financial Information, Financial Management, Financial Services, Financial Software, Financial Solutions, Forex, Investment, Money, Profits, Trading

Saxo Bank Launches FX Binary Touch Options

Saxo Bank, the specialist in online trading and investment, today announced the launch of six Binary Touch Options on its trading platform. The Binary Touch options will initially be offered in six currency pairs; EURUSD, USDJPY, GBPUSD, EURJPY, EURGBP, and AUDUSD. They will be tradable from Saxo Bank’s award winning FX Options Board, where clients are already able to trade regular FX Vanilla Options.

The launch will further extend Saxo Bank’s FX offering and allow clients to trade in the world’s most liquid financial market in a simple and convenient way. A Binary Touch Option differs from a plain Vanilla Option in that the potential gains and losses of a Binary Touch Option position is known upfront, thus greatly simplifying the transaction. Clients may invest not only in which direction the price will move, but at the same time express their views on how far and over what time period.

Unlike other trading platforms that offer similar products, Saxo Bank will offer its clients the ability to close-out their long or short positions at the current market price prior to expiry.

Gustave Rieunier, Global Head of FX Options & Forward Trading at Saxo Bank, said: “Adding Binary Touch Options trading to our platform bridges the gap between FX Spot and FX Vanilla Options and meets the recent demand in the market for wanting to trade in the global currency market in a simple, straight forward manner. Whether you are a seasoned FX trader or new to investing in currencies, this is an excellent way to add FX exposure to your portfolio.

“Saxo Bank has developed into one of the top market makers in the global FX Options space. Adding such a simple and straight forward product to our strong liquidity and award winning pricing capabilities is another significant improvement to our FX offering.”

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Banks, Credit Cards, Financial, Financial Information, Financial Services, Financial Solutions, Insurance, Insurance Services, Loans, Money, Mortgage, Personal Finance

Confused.com Reveals Slow Drivers Are The Biggest Frustration For UK Drivers

Confused.com has released new research which reveals that dawdling drivers are the top cause of irritation for UK drivers. The survey by the car insurance experts shows that over half (60%) of motorists experience an increase in stress levels and a heightened irritability when faced with a vehicle driving slower than the rest of the traffic.

In reaction to these slow drivers, almost half (45%) of motorists risk overtaking, thus increasing the chances of an accident. Research from the Department for Transport also reveals that 143 accidents a year are caused directly by slow drivers or “Sunday drivers” as they are known.

With little to prevent drivers from travelling too slowly, half of British motorists are supporting the idea to introduce the first ever ‘slow speed camera’ to the roads of the UK. The slow speed camera will specifically catch slow motorists, penalising them with a fine for driving slower than the minimum designated speed limit. This has come as a reaction to the fact that although minimum speed limits are enforced on some UK motorways, there are few preventative measures that are used widely.

Gareth Kloet, Head of Car Insurance at Confused.com said: “Slow drivers need to be taken as seriously as motorists caught speeding. Findings confirm they are a constant source of anxiety on UK roads and responsible for a large amount of accidents each year.”

Kloet continued: “We support the introduction of a programme of measures to eliminate this hazard as our research has highlighted that excessively slow driving is a real problem – the government introduced speed cameras and now even a super speed camera so should also consider the same rigour to combat slow driving as it could make a difference and help reduce motorists putting themselves or others at risk.”

The Confused.com car insurance survey’s additional findings also uncovered other solutions for limiting slow drivers. Suggestions included imposing a minimum speed limit on ALL British roads (37%) the introduction of a slow lane (26%), dedicated times for slow drivers to be on the road (15%) and even a warning badge system to be displayed by offending motorists (5%).

Peter Rodger, Chief Examiner from The Institute of Advanced of Motorists (IAM) supports the need for change on Britain’s roads. He said: “All forms of inconsiderate driving need to be tackled. Drivers who are unnecessarily excessively slow lead others to make rash moves.”

For more information on car insurance, interested parties can visit confused.com/car-insurance.

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Banks, Business, Currency, Financial, Financial Information, Financial Management, Financial Services, Financial Software, Financial Solutions, Forex, Investment, Money, Profits, Trading

Saxo Bank Wins Best Liquidity Distribution Service at the eFX Awards 2011

Saxo Bank, the specialist in online trading and investment, has won the “Best Liquidity Distribution Service” award at the annual eFX Awards 2011 hosted by FX Week in New York.

At the core of Saxo Bank’s offering is its White Label solution for banks that require a market leading on-line trading platform for their clients. The key benefits of the solution are:

– It facilitates ownership and control of banks’ relationships with their clients whilst maintaining full client anonymity from Saxo Bank.
– Access to a fully branded and customised trading solution.
– A facility for banks to distribute their own FX liquidity to their clients via the white-label platform.
– A multi-asset offering with more than 20,000 financial products, including FX, Stocks,CFDs and commodities.
– Flexibility and control allows banks to distribute liquidity from the asset classes with tailored commission pricing to their own clients, based on their own local and regional requirements.

For institutional clients, such as hedge funds and retail aggregators with sophisticated high trading volumes, Saxo Bank’s trading API compliments their needs by making its multi-asset product range available in the client’s own systems via a low latency VPN, standard FIX protocol API. The trading API extends Saxo Bank’s distribution services and makes available its range of FX crosses and order routing for CFDs, Stocks and Futures in the client’s proprietary systems.

The founders and co-CEOs of Saxo Bank, Kim Fournais and Lars Seier Christens said in a joint statement: “Saxo Bank acts as a facilitator linking liquidity from Tier-1-banks and access to over 20 exchanges across the globe to our institutional and retail clients via our integrated platforms. The award acknowledges this business model. It makes us very proud and we are honored to accept the award.”

Saxo Bank was also nominated for the “Best Retail Platform” award. The award was won by Citi. The CitiFX Pro platform is powered by Saxo Bank.

This year the awards were judged by industry experts, Joel Clark, Editor, FX Week, Justyn Trenner, Chief Executive, Client Knowledge, Sang Lee, Co-Founder and Managing Partner, Aite Group and Rob Daly, Editor, Sell-Side Technology.

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

Mortgage Loan Modifications Made Simple With Cantrell Consultant’s Do It Yourself Modification Software. Stop Waiting In Line And Get Your Paperwork Ahead Of The Rest

Cantrell Consultants Offers Reliable Do It Yourself Mortgage Modification Program to Help Home Owners save their Homes.

With ezmortgagemod.com’s Bank Ready Modification Package, Dr. Cantrell Will Help His Customers In Being One Of The 9 Million Mortgage Holders To Receive A Loan Under President’s Obamas New Package.

The number of people facing problems regarding the payments of their mortgage loans is rising in the United States. The most common problems faced by homeowners today are due to delinquency, high interest rates or reduction in appraised value due to the market crash. While the government has introduced several home and mortgage loan modification plans under HAMP and HAFA programs, only a small percentage of mortgage holders are able to qualify for these modification programs.

Michael W. Cantrell Sr., Ph. D., one of the leading names in the area of home loan modifications, is offering a reliable program that ensures that their client will get all home loan modification documentation with his new ezmortgagemod do it yourself program. Dr. Michael W. Cantrell, Sr. is the president of Cantrell Consultants. He holds a PH. D. in Financial Management and has been in this industry for almost three decades.

Elaborating on his new ezmortgagemod loan modification program, Dr. Cantrell said,“Although I have been serving lenders since 1989, I have now set foot on the other side of the fence, helping homeowners. I believe in making homes affordable with our do-it-yourself ezmortgagemod program that enables people to qualify for a Home Loan Modification approval. The ezmortgagemod program works to benefit the homeowner, not the lenders.”

The do it yourself ezmortgagemod Home Loan modification package offered by Cantrell Consultants is ranked number one among the Do-it-Yourself programs. The ezmortgagemod program is one of the most reliable and user friendly programs available to the public today. The reason for this is that only the ezmortgagemod do-it-yourself program includes exact documents that banks and lenders use for their approval process.

“This unique benefit along with the post review service, ezmortgagemod program saves homeowners, not only the thousands and thousands of dollars they would normally spend, but the nightmare of spending months on the phone with their banks and getting bounced around from department to department trying to do it on their own,” adds Dr. Cantrell.

The ezmortgagemod Home Loan Modification program allows the homeowner to fill out a form and see whether or not they qualify for any of the programs. This saves them a lot of time. The package also offers a step by step guide for the homeowner regarding the procedures and negotiation tactics. More information on Dr. Cantrell’s do-it yourself mortgage loan modification package is available on www.ezmortgagemod.com.

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Saxo Bank Launches New TradingFloor.com

Saxo Bank, the online trading and investment specialist, has announced the re-launch of TradingFloor.com, its trading commentary, news and analysis web site. It represents the first upgrade since the site was originally launched mid-2009.

The new site still provides a wealth of information about financial markets to help users make informed decisions when investing. Specifically it covers forex, equities, commodities and macroeconomic data, but it now also reflects the overall goal of building a closer rapport with users to allow for greater engagement and more interaction.

“The new release signifies Saxo Bank’s ongoing commitment to improving the site’s value to clients, prospects and the Bank,” said Hugh Taggart, the head of Saxo Bank’s Content & Strategy Team. “The upgrade also represents the start of an ambitious roadmap to include closer integration with social media channels.”

Some of the improvements include:
– User accounts, a unique user log-in function allowing users to create their own customised dashboards, set and save their interests (including following individual blogs and authors and linking their Twitter accounts) and comment on and ‘like’ content
– Refreshing new branding and overall design
– More analysis from a wider range of sources, including qualified guest contributors
-Educational content on forex, forex options and (CFDs) from Saxo Bank and its trading staff
– Improved content RSS/Atom feed capabilities

The new TradingFloor.com still contains an economic calendar, stock screener and basic free forex charting package.

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Confused.com Sees 2000% Surge As Customers Flock To Save Money On Energy

A surge in energy prices announced by British Gas within the last few days has prompted a 2000%* jump in visits to comparison site Confused.com as customers rush to save money. People are flocking to the price comparison site to find the best deals and avoid the price hikes.

Confused.com Chief Marketing Office, Mike Hoban said: “At a time when utility suppliers are reporting record profits and massive price rises, consumers are voting with their laptops and looking for the cheaper deals.”

Confused.com also offers popular hints and tips on how to reduce energy used around the house, as well as an impartial comparison service which makes it easy for people to shop around and save on gas and electricity bills.

British Gas is the second of the Big 6 to announce gas and electricity price rises. Gas prices are set to increase by an average of 18%, electricity by an average of 16%, effective from 18 August 2011. This increase means around £190** will be added to the average household bill for the customers affected.

Lisa Greenfield, energy analyst at Confused.com commented on the price rises:
“Struggling households will be dismayed by this news, and as British Gas is the largest supplier in the UK, many families will be hit hard.”

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Banks, Bonds, Checking & Savings, Financial, Financial Services, ISAs, Mortgage, Personal Finance

Northern Rock Cuts Mortgage Rates Across Its Range

Northern Rock has reduced mortgage rates both across its core residential and Buy To Let ranges, and its selection of Intermediary Exclusive products.

First time buyers will benefit from many of the changes as Northern Rock continues to offer support to those with smaller deposits. 2-year Everyday fixed rate mortgages at 85% LTV (15% deposit required) with no product fee are now available from just 4.38%.

The lender has also made a number of reductions to its ‘with fee’ products, for customers who choose to pay a product fee in order to access a lower interest rate. 2 Year Fixed rates with a £995 fee start from 2.99% up to 70% LTV (30% deposit).

For borrowers who are looking to fix their interest rate over a longer period Northern Rock also offers competitively priced 3-Year and 5-Year Fixed rates. 5 Year Fixed rates start at 3.99% with £995 fee up to 70% LTV (30% deposit).

Northern Rock also continues to offer Fee Saver Option (FSO) products for consumers who are looking to keep their fee costs as low as possible. The lender has simplified the pricing on its Fee Saver Options, with standardised premiums of 0.45% on 2-year products, 0.40% on 3-year products and 0.35% on 5-year products. Remortgage customers will also benefit from Northern Rock’s incentive of a free basic valuation and free standard legal costs.

Northern Rock has made several improvements to its BTL product range in recent weeks, and has now made rate reductions of up to 0.70% on its BTL Fixed rates and Trackers.

Buy to Let Fixed rates for customers choosing to pay a £1,995 product fee start from 3.89% at 60% LTV (40% deposit). Borrowers with a 30% deposit (70% LTV) can opt for a 2-Year Everyday Fixed rate mortgage with a £1,995 fee at 4.10%.

Alongside the changes to its core product range, the lender has also improved the Fee Saver Options within its range of mortgage products available exclusively through Northern Rock’s intermediary partners. A 2-year FSO exclusive to brokers at 70% LTV (requiring a 30% deposit) is now available from 3.25%, while the equivalent 3-year product is available at 3.64%.

Everyday mortgages offer customers simple, straightforward mortgage deals with competitive rates and the ability to make overpayments of up to 10% each year, as well as the option to apply for payment holidays. Northern Rock continues to operate its mortgage product range within the constraints of the competitive measures agreed with the European Commission.

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Northern Rock Highly Commended For Responsible Business Practice

Northern Rock was given a prestigious national award from The Prince of Wales’ Business in the Community (BITC) charity, for its work to help tackle financial exclusion.

Last month, BITC awarded Northern Rock with a ‘Big Tick’ for its on-going project to help rebrand, relaunch and support Bridges Community Bank, formerly South Tyneside Credit Union. Judges were so impressed with the nomination that Northern Rock was also selected as one of only two North East organisations to be shortlisted for the coveted title of ‘Example of Excellence’ in their respective categories.

Last night, representatives from the bank including Executive Chairman Ron Sandler, were highly commended in BITC’s ‘Building Stronger Communities’ for 2011, at a gala event sponsored by Unilever at The Royal Albert Hall.

The national ‘Big Tick’ award is the first level of award available to entrants of the national BITC Awards for Excellence, which recognises inspirational programmes that have a positive impact on the community, the environment or wider society. Northern Rock was one of six companies to achieve it this year before being highly commended in the category of the UK’s Example of Excellence in Building Stronger Communities.

Northern Rock’s contribution involved a team of employee volunteers skilled in a number of disciplines helping Bridges Your Community Bank. It continues to support Bridges as part of its flagship community programme which focuses on assisting those in financial difficulty.

Mr Sandler said: “We are honoured to have received this additional commendation, and to have been shortlisted as Business in the Community’s Example of Excellence 2011, for our important work in the local community, in this instance for our work with Bridges Your Community Bank.

“Our Big Tick Award is proudly displayed in Northern Rock’s head office so that our colleagues and visitors alike can see what has been achieved due to the hard work and dedication of our employees. I look forward to adding this additional tribute and hope it acts as a source of real inspiration and pride for everyone connected with Northern Rock.”

Stephen Howard, Chief Executive of Business in the Community said: “I congratulate Northern Rock on achieving its Big Tick. It is a challenging time for business, but this is a sign that companies are not losing their focus and are transforming their businesses to make a positive impact on people and society; and are prepared to lead by example. That’s what Business in the Community’s Awards for Excellence is all about – celebrating responsible business, the leadership that makes it happen and the benefits to the business and society of doing so.

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Saxo Bank Launches SaxoTrader 2.5 with Improved Navigation and Position Management

Saxo Bank, the specialist in online trading and investment, has announced the launch of SaxoTrader 2.5, the latest update to its multi-asset class trading platform. The new version includes improved navigation and added features to manage positions and orders, and is available to customers from July 2011.

Saxo Bank has replaced the old SaxoTrader menu with an intuitive, easily navigable ribbon-style toolbar. The menu items are now grouped by function which takes up less screen space whilst making the breadth of functions available more accessible and simple to use. “News and Research” as well as “Account” tabs enable users to easily access all the information they need. In addition, new product icons clearly differentiate the various products tradable on the platform.

Enhanced position management features include a module allowing users to view and manage positions and related orders in one integrated workflow. This enables to flexibly close positions, set stop and limit orders, and provides users with a customisable display of all open and closed positions. A heatmap visualisation gives them an additional instant overview of the performance of their positions.

Henrik Dyrholm Holst, Head of Platform Management at Saxo Bank, commented:
“SaxoTrader 2.5 is designed to make trading even faster and more efficient. Nowadays, traders demand intuitive tools that are rich in data and analytics. SaxoTrader is a multi-asset trading platform with a specific set of tools for each asset class. We have therefore focused 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.”

This latest release is a subset of the functionality Saxo Bank will be adding to SaxoTrader. The Bank will continue to upgrade the platform in phases this year.

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Saxo Bank Wins Two Awards At The World Finance Foreign Exchange Awards 2011

Saxo Bank, the specialist in online trading and investment, has been named “Best Forex Broker in Northern Europe” and “Best White Label Solution Provider” in the World Finance Foreign Exchange Awards 2011. This accolade acknowledges Saxo Bank’s position as an established FX house and its leading role in the foreign exchange market.

Kim Fournais and Lars Seier Christensen, founders and co-CEOs of Saxo Bank, said in a joint statement: “We are delighted that Saxo Bank has won these two awards. Modern traders and investors demand usability, mobility, performance, and service when executing online trades, all of which we will continue to provide our clients with.”

Saxo Bank, which is renowned for aggregating liquidity from the world’s leading FX dealers, facilitates Forex trading on three different online platforms, covering the needs of those who are new to the Forex markets as well as professional investors who demand a wide selection of trading instruments and a variety of product types for multi-asset portfolio creation.

Saxo Bank’s many years of experience in the online trading business and accumulated knowledge of the markets as well as the needs of clients translates into a proven success formula for completely scalable White Label solutions. The solution is built around a customised version of Saxo Bank’s award-winning platform and then branded under the White Label Client’s name.

The World Finance Awards are chosen by an expert panel. They identify industry leaders, individuals, teams and organisations that represent the benchmark of achievement and best practice in the financial and business world. Now in their fourth year, the awards reflect a wider spectrum of financial services and related industries than ever before.

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Confused.com Reveals Big Rise In Prices For New And Learner Drivers

Confused.com has revealed that newly qualified drivers can expect to pay around £2,000 or more to insure a small hatchback this year as the cost of insurance continues to soar.

This time last year the cheapest premium for a new driver insuring a Ford Ka for a year came in under £900. Now the best quote for a newly qualified driver wanting to insure a Ford Ka has soared to more than £1,900, according to consumer research by the popular comparison site Confused.com.

The Fiat 500 Pop now tops the list of most popular vehicles for a newly qualified driver, based on 6 months of quotes from Confused.com during the first half of 2011. Unfortunately, for many newly qualified drivers it will cost more than £1786 to insure it. The Fiat 500 knocks last year’s favourite, the Vauxhall Corsa, from the top spot, becoming the most popular choice in this Confused.com study of learners and drivers who passed their test within the last 12 months.

Confused.com’s head of car insurance, Gareth Kloet said: “The Fiat 500 is a new favourite with freshly qualified drivers – this model didn’t appear at all in the Confused.com top ten for new drivers last year. The popularity of these cars may have been led by their use by many driving instructors, and also by the relatively cheap insurance cost compared to other small cars.

“Getting reasonably-priced car insurance can be a nightmare for younger drivers but 50% of under 25s could save up to £571 on car insurance* premiums by using Confused.com to find the best deal. With rising premiums it’s more important to compare prices now than ever before.”

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Saxo Bank’s ForexTrading.com adds new product offerings

Saxo Bank, the online trading and investment specialist, has announced the addition of 12 CFDs on major stock indices and 7 commodity CFDs to its ForexTrading.com platform for private traders.

ForexTrading.com was launched by Saxo Bank in early June 2011 and provides traders with browser based and downloadable trading platforms, supporting a range of the world’s most liquid forex, and CFD instruments at competitive spreads.

Claus Nielsen, head of markets at Saxo Bank, said: “The addition of stock index CFDsand seven further commodity CFDs to ForexTrading.com now enables private investors to trade in the most liquid contracts across a range of asset classes. The majority of clients use ForexTrading.com as a no thrills account to trade currencies, however we want to make sure that they have the opportunity to leverage the opportunities they see in other asset classes.”

“We expect dedicated index and commodity traders to enjoy the tight spreads for the CFD indices. The indices are priced competitively with the UK 100 and Germany 30 indices spread going as low as 1 point and the US SPX500 as tight as 0.75 points.”

The minimum initial deposit when opening an account with ForexTrading.com is $2,000 or equivalent, and no interest will be paid on funds on deposit. ForexTrading.com supports retail trading accounts and offers support and service in English.

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Confused.com designs new pothole warning sign

Confused.com has designed a new road sign, specifically to alert road users to the UK’s two million potholes*. The road sign is the first of its kind and the car insurance expert is petitioning to urge the Department for Transport to introduce it to roads across the UK.

A constant source of frustration for drivers, the sign has been developed in response to recent findings that even with sufficient budgets; it would take councils at least 11 years to repair the UK’s damaged roads**. With this in mind, 82% of drivers would like to see a road sign dedicated to potholes.

Mike Hoban, chief marketing officer at Confused.com said: “Although repairing these roads is obviously the long term solution, something needs to be done now. Currently the UK’s road signs include warnings for wild horses, wild animals, cattle and even toads but potholes aren’t considered worthy enough? A pothole road sign is a vital step in preventing accidents and reducing insurance claims whilst road maintenance continues.”

The road sign design was inspired by local pothole crusader Ted Relf, a plumber from Kent, who made national headlines in April 2010 when his home made warning sign against potholes was removed by the local council.

Ted Relf commented: “We all moan about potholes and now we have the chance to do something about them. I created my own pothole sign last year because I was concerned for the safety of drivers on my road. I fully support the introduction of an official pothole road sign and urge the nation to sign the petition at Confused.com.”

The pothole road sign has been produced in accordance with the signage guidelines set by the Department for Transport and is the brainchild of Phil Baines from Central St Martins, University of the Arts London. Baines, designer and signage expert, added: “Warning road signs are there as a safety measure to warn drivers of potential dangers, and potholes certainly fall within that category. Given the scale of the current problem I would welcome a specific pothole sign being added to the Traffic Sign Manual.”

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Northern Rock Adds Helpful Savings Video Guide To Its Website

Northern Rock has added another helpful video guide to its interactive savings website to help consumers with their savings choices.

The video – Northern Rock’s Guide to Savings – is the third guide in the series recently introduced by the bank to add a further dimension to its award-winning website. Existing videos include Northern Rock’s Guide to ISAs and First Time Buyers Guide, which can be viewed on the Northern Rock website alongside the new addition.

The newest guide is designed to help customers make the most of their money in an accessible way, by highlighting the need to consider debt and budgeting as well as the benefits of the wide range of competitively priced savings products on offer at Northern Rock.

The colourful video guide, which is also available via the bank’s YouTube channel, covers key areas such as planning for emergencies and saving for a rainy day.

Northern Rock offers a range of variable and fixed rate savings products, including online savings accounts, instant-access products and tax-free savings options. Northern Rock also offers customers a free savings review.

Further detail about Northern Rock’s range of savings products is available on the website, which is populated with useful advice and information for different savings customer groups, financial planning information and at-a-glance guides to help people choose between different types of savings account.

The site also includes a range of interactive tools such as a jargon buster and budget planner to help take the complexity out of selecting the right savings product for a customer’s own individual circumstances, and a product calculator for each of Northern Rock’s products, such as a mortgage calculator and a calculator for its Cash ISA, to help work out the estimated return on investment.

Northern Rock customers also benefit from the bank’s unique savings promise. This is a commitment to its customers that it will provide a minimum of two months’ written notice of any reduction to the interest rate on their account. Where customers have a notice period for access to their funds of greater than two months, Northern Rock will give them that equivalent notice period of any reduction to their interest rate. Northern Rock will also write to all savings customers at least once a year with details of all its available variable rate savings accounts. And it will give savings customers a minimum of two months’ written notice of any changes to the terms and conditions of their account.

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Saxo Bank Stays With Riis Cycling in 2012

Saxo Bank and Bjarne Riis, owner and manager of Riis Cycling A/S, have announced that Saxo Bank, a sponsor for the cycling team since 2008, will remain co-title sponsor in 2012 with SunGard, one of the world’s leading software and technology services companies.

Bjarne Riis said: “It is indeed a great day for our cycling team. Saxo Bank is an extremely professional company, so I am proud that Saxo Bank has a strong faith in our work and continues to see the commercial benefits in sponsoring our team.”

“Since 2008 we have shown in both words and actions that we are a great match, and I am convinced we will continue to grow together because of the obvious benefits in a long term relationship. The continuity in our partnership also means a lot for the riders and for me personally. Now we can focus all our attention on creating results and the working process of putting together a strong rider group for next year.”

Saxo Bank, the online trading and investment specialist, recently launched Saxo Privatbank, combining traditional banking services with a professional investment universe, and the bank says it has taken a strategic decision to continue the sponsorship in 2012.

In a joint statement, Kim Fournais and Lars Seier Christensen, co-CEOs and co-founders of Saxo Bank, said: “Saxo Bank has always believed it was a sound commercial decision to support Bjarne Riis and the rest of the team but at the same time, it is hard to exaggerate the impact Bjarne Riis has on Danish and international cycling. We have a genuine desire to support Bjarne and provide the team with the necessary resources it takes to stay on top. Bjarne Riis and the team are a huge inspiration and motivation for many young talents, and Saxo Bank is proud to continue to ensure a world class cycling team in Denmark.”

The name of the team will remain ‘Saxo Bank-SunGard Professional Cycling Team’.

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Northern Rock Cuts Mortgage Rates

Northern Rock has reduced mortgage rates, making its range even more competitive. As well as reducing selected rates across its core mortgage range by up to 0.50%, it has improved its 2-Year Fixed rate deal available exclusively through Northern Rock’s intermediary partners. The product is now available at 2.99% for those with a 30% deposit (70% LTV).

All of the remaining reduced deals are available to both purchase and remortgage customers, the latter benefiting from Northern Rock’s usual incentive of a free basic valuation and free standard legal costs.

Northern Rock has reduced rates for customers with a 25% deposit. A 2-Year Everyday Fixed rate deal with a £995 product fee is available at 3.19% for those with a 25% deposit (75% LTV). The same deal is available without a product fee, priced at 3.65%.

Alternatively, those with a 25% deposit (75% LTV) can choose a 3-Year Fixed rate mortgage with a £995 product fee at 3.93%, and a 5-Year deal with a £995 product fee is 4.59% up to 75% LTV. Those who choose not to pay a product fee, can secure the same product at 4.79%.

Competitive Buy to Let rates start from 3.39% for a 2-Year Everyday Fixed rate mortgage with a 3.5% product fee, up to 60% LTV. Those preferring a flat fee of £1,995 can choose a 2-Year Fixed rate up to 60% LTV, priced at 4.79%.

Everyday mortgages offer customers simple, straightforward mortgage deals with competitive rates and the ability to make overpayments of up to 10% each year, as well as the option to apply for payment holidays. Northern Rock continues to operate its mortgage product range within the constraints of the competitive measures agreed with the European Commission.

Via EPR Network
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Confused.com Launches New Savings Site

Confused.com has announced the launch of its new online savings site to help savers compare interest rates, find the most competitive ISAs and understand some of the jargon often found in financial documents.

Confused.com have also launched a new redesign of the savings section of the site to help users navigate the page easily and quickly find the best deal on their savings accounts.

With the brands such as Nationwide, Santander and ING on board, Confused.com’s savings offering is free and independent. Savers can quickly and easily compare different types of savings accounts, from simple instant access accounts to tax free ISAs and fixed rate bonds. This service compliments the existing loans, mortgages and financial services products already compared by Confused.com, which compare deals from the major high street and online financial service providers.

Chris Griffiths, head of savings at Confused.com said: “With interest rates being low and inflation high, it’s important to check that your savings are in a competitive account otherwise you could be missing out on improving your interest earnings. We aim to give savers more information about the different accounts available, as well as information on each specific account and its provider – ultimately to allow our customers to quickly and easily compare a variety of savings products to find the best one for their needs.”

Confused.com has provided information for customers about savings and how to switch their accounts on its savings account page on the website.

Via EPR Network
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Northern Rock Wins Prestigious National Big Tick Award

Northern Rock has been heralded among the most responsible businesses in the UK after receiving Business in the Community’s (BITC) coveted national Big Tick for its work to tackle financial exclusion in partnership with credit unions.

The Big Tick award is the first level of award available to entrants of the national BITC Awards for Excellence, which recognises inspirational programmes that are making a positive impact on the community, the environment or wider society.

Northern Rock’s contribution, which involved volunteers skilled in a number of disciplines, helping to rebrand and relaunch South Tyneside Credit Union as Bridges Your Community Bank, has also been shortlisted for consideration for the title of Example of Excellence – the overall winner for the Building Stronger Communities category.

The final results will be announced at the BITC Awards for Excellence Gala Event, sponsored by Unilever, which will be held at the Royal Albert Hall on 5 July.

Northern Rock’s Customer and Commercial Director Andy Tate said: “We are absolutely delighted to receive this Big Tick in recognition of our important work in the local community, in this instance for our work with Bridges.

“We are also honoured to have been shortlisted for the overall Example of Excellence and we are very proud of what has been achieved through the dedication of our staff.”

Stephen Howard, Chief Executive of Business in the Community said: “I congratulate Northern Rock on achieving its Big Tick. It is a challenging time for business, but this is a sign that companies are not losing their focus and are transforming their businesses to make a positive impact on people and society; and are prepared to lead by example. That’s what Business in the Community’s Awards for Excellence is all about – celebrating responsible business, the leadership that makes it happen and the benefits to the business and society of doing so.

“Communities and consumers need to see that businesses are proactive, visible and engaged on the big issues of the day, as Northern Rock has demonstrated.”

Representatives from Northern Rock will be presented with the Big Tick award at a regional celebration event at the Gateshead Hilton at the end of June.

Via EPR Network
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