UK Property Market, Current Accounts, News

Tough Times Ahead

If you were thinking of selling up home it may also be shrewd to sit tight, with housing prices in steady decline.  In the current financial climate, it is also important to get the best out of your money, and also your home.  As the banking troubles unfold, now is definitely the time to look after your finances. Alliance & Leicester offer some excellent current accounts, like the Premier Direct Current Account, which offers a staggering 8.50% AER (fixed for one year) on balances up to £2,500 and 0.10% AER (variable) on balances over that amount. You could also get an exclusive linked PlusSaver account paying 4.50% gross each year /AER (variable). According to moneyfacts.co.uk it is the best current account available online at the moment.  In second place is Abbey Current Account (Credit Option) with an AER of 8% (AER means annual rate of interest- the higher the AER, the better the return). Both Abbey and Alliance & Leicester are safe bets to look after your money as they have recently been taken over by Banco Santander, the fifth largest bank in the world and one of the few to have come out of the global credit crunch stronger than before. With house prices plummeting, many people who wanted to sell their homes are now  waiting to see what will happen. If you are one of the millions of homeowners dismayed by the housing markets, now might be a good time to consider home improvements, either to increase your buildings value for sale at a later date, or just to make the house a more pleasant place to be in. Companies are slashing prices in an attempt to lure people into spending money, as major retailers like B&Q and Homebase struggle to make money.  You might want to consider a loan.  Alliance and Leicester have an impressive 8.9% APR for personal loans between £7,500 and £15,000. Make sure you do your finance homework first though- can you afford the repayments? Have you checked the small print? Remember, always borrow through a reputable lender, and again, make sure you can afford the repayments. Glasgow News : back to index Edinburgh Houses Glasgow Houses