Andy’s Finance

From spring, customers can be vetted by credit lenders to see if they pay off their balance in full each month, and make use of promotional 0 per cent deals.

Credit Card firms will also be able to see more signs of ‘high risk’ behaviour such as withdrawing cash with a credit card, and big changes in a customer’s credit limit.

The sharing of this additional “behavioural” information will conclude a two-year project overseen by Apacs, the UK payments authority, to help lenders better judge risk.
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Northern Rock is back on the map for new savers and there are some deals worth considering.

The bank has to raise money to finance its mortgage business and savers are a secure source of income. So look out for top rates over the coming months.

For instance, its Fixed Rate Access Bond pays 5.08% after savings tax (6.35% before tax) until February 20 next year on £1 or more.

Unlike other fixed-rate fixed-term deals, you can take your money out at any time without losing interest, so long as you withdraw at least £250. It can be opened in branches or by post but has to be operated through the post.
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Middle Britain has been hit by a devastating debt crisis, experts have said, with even apparently well-off people with good jobs plunged into the red.

The figures on those looking for some help come from Transact, which runs 1,200 debt advice centres across the country. Their spokesman, James Elliott, said they were seeing a new type of client.

‘In the past it was almost uniquely people on benefits, people in social housing, who went to debt advice agencies,’ he said. ‘Since the credit crunch started they are seeing a big increase in professional people and homeowners – people who have been pushed over the edge and now can’t cope with their outgoings.
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Personal Finance – persfin.co.za/
Financial information previously published in the print version of Forbes.

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Britons feel cost of living up 8%

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Let’s introduce a GCSE in how to handle money

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