As the leading challenger bank, Metro Bank invested heavily in maintaining a branch network, despite dramatic cutbacks by other banks. However, despite poor customer service over the years, it has proven difficult to attract customers away from established banks. The Prudential Regulation Authority’s intervention indicates serious concerns about Metro Bank’s ongoing viability, according to analysts. …
Financial institutions must assess whether politically exposed individuals are more likely to engage in bribery or corruption due to their profession or position. Banks are obliged to conduct enhanced due diligence on such individuals to prevent money laundering and the acceptance of funds from illegal sources. Banks can close an individual’s account if they have …
The margin for NatWest, one of the leading banks in the UK, increased to 3.27% in the first quarter of this year, a rise of seven basis points compared to the previous quarter. With a dividend yield of 5.7%, NatWest is known for its consistent and generous shareholder payouts. What’s the value of NatWest shares? …
Leaving a bank due to mismatched values is not a new phenomenon. Just as NatWest severed ties with Nigel Farage, customers like Mr. Ison are parting ways with the bank for the same reason. Although he does not agree with many of Farage’s statements, he believes it is not the bank’s place to single him …
According to Jamie Alexander, a mortgage broker at Alexander Southwell Mortgage Services, recent increases in mortgage rates may have been excessive. However, he expects them to be revised downwards. Ben Tadd, a broker at Lucra Mortgages, believes that lenders have already factored in the anticipated increase in the Bank Rate from 5% to 5.25% next …
Savers are being tempted with cash bonuses to invest in stocks as brokers strive to compete with banks amidst rising rates. Hargreaves Lansdown, a broker, is now offering a cash bonus of up to £250 to customers who open investment Isas before the end of September. Savers who invest £5,000 will receive £50, those who …
Your current account is likely the most frequently used financial product in your daily life. From swiping your debit card to paying bills and making bank transfers, your current account is essential. It’s where you receive your income, whether it’s from your job, pension, or rental income. In the UK, there are approximately 75.6 million …
First-time buyer A first-time buyer recently purchased their £250,000 home with a 10% deposit and a competitive 2.1% mortgage two-year rate in October 2021. However, with the rising base rates, the current average two-year fixed mortgage rate of 6.66% will significantly impact their monthly payments. In fact, their payments will increase by £640, amounting to …
Financial abuse is a pervasive issue with millions of people being denied access to their finances by abusive partners, friends, or family members every day. According to the charity Surviving Economic Abuse (Sea), around 5.9 million people in the UK experience some form of economic abuse in their lifetime, while research from Aviva reveals that …
Financial analysts Moneyfacts have reported that the average one-year fixed rate bond on Monday was 5.27%, a slight increase from Friday’s rate of 5.26%. Similarly, the average rate for a one-year fixed cash Isa also went up to 5.09%. As for the top one-year fixed-rate account, Cynergy Bank currently offers the highest rate at 6.04%. …