View more on these topics

Account switch could save £4,000

Britons are getting little or no return for staying with their current account provider, with many only earning £1 in int-erest each year, according

to Virgin One.

The flexible loan specialist claims a typical UK worker with a salary of £21,382 could be saving almost £4,000 in mortgage interest if they offset their wages against their loan.

If this average figure were to be applied to all UK homeowners, Virgin One claims more than £43bn of interest payments would be saved. It points to the annual fees that many people now pay on their current accounts for a range of facilities including overdrafts, travel insurance and loans.

Virgin One says it can help customers reduce these costs as its loans also offer the facility of discount deals with travel insurers and cheaper

flights through its association with Virgin Holidays.

Marketing manager Scott Mowbray says: “With interest rates being slashed, savers are losing out where borrowers gain. This need not be the case with current account mortgages such as Virgin One, where you get the best of both worlds by earning a mortgage-style interest rate on both savings and salary.”


&#39IFAs set to dominate UT distribution until 2005&#39

IFAs will remain the dominant distribution channel for unit trusts until at least 2005 despite fierce competition from direct and internet providers, according to research commissioned by Datamonitor for FundsHub.The research shows IFAs&#39 share of distribution will remain constant over the next few years, slipping slightly to 60.2 per cent in 2005 from 61 per […]

Ken Timmins

Lives: Edinburgh.Born: 1948, EdinburghEducation: Falkirk High, Falkirk.Career: 1965-1976 Standard Life pension superintendent, 1976-1984 IFA Bain Dawes (became Hogg Robinson), 1984-1988 Scottish Amicable regional pension manager, 1988-1989 IFA Alan Steel Asset Management, 1989present Ernst & Young Financial Management chief executive.Career ambition: To remain chief executive of EYFM and move the company forward.Life ambition: “To spend a […]

Investec gets the go-ahead to switch trusts into Oeics

Investec Asset Management has been given the go-ahead to convert its range of 14 unit trusts into two Oeics over the coming month.Unitholders voted overwhelmingly in favour of the conversions, which will take place at the end of November and in mid-December, at an EGM last week.Managing director Jamie MacLeod says he had taken a […]

Cautious thumbs up after IFAs meet with Sandler

IFAs have given Ron San-dler a cautious thumbs up for demonstrating a thorough knowledge of the issues affecting the industry, according to several IFAs who met with him this week.Seven IFAs of the Group of 15 signatories of an open letter which appeared in Money Marketing in August had a two-hour meeting with the head […]

Investment Forum

Position Portfolios for a Changing China, Accelerating Disruption and More Political Discourse Is China an asset class? Why Investors’ Understanding of China is Changing How is disruption changing the way we invest? Established Ways of Doing Business Are Being Challenged What to Watch: Why politics matters more than ever in 2017 Key takeaways: Despite volatile […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm