Latest news with #AtomBank
Daily Mail
17-07-2025
- Business
- Daily Mail
Why savers should fix NOW as easy-access rates hit two-year low
Savers are being urged by experts to potentially lock away their savings now to secure top rates ahead of a likely Bank of England base rate cut next month. Easy-access rates have plummeted to a two-year low, according to rates scrutineer Moneyfacts Compare. The average easy-access rate now stands at 2.68 per cent, the lowest level since July 2023 when it was 2.41 per cent. Meanwhile the average easy-access Isa rate is 2.92 per cent, its lowest level since August 2023 when it was 2.86 per cent. Atom Bank, offering the top easy-access rate today, cut its rate to 4.6 per cent from 4.75. per cent. Many easy-access accounts and Isa access Isas pay north of 4 per cent, but some are artificially inflated by bonus rates with disappear after three to 12 months. Rachel Springall, finance expert at Moneyfacts Compare says: 'The downward momentum is an inevitable turn of events, with providers adjusting their rates following four cuts to the base rate since last summer.' Fixed-rate accounts on the other hand are holding strong, with one and two-year bonds seeing the biggest rate hikes in 11 months, according to Moneyfacts Compare. The top one-year fixed bond rose by the largest amount since August 2024 to 4.55 per cent. GB Bank now offers a 4.58 per cent one-year fixed rate bond while the best two-year bond pays 4.45 per cent and is offered by DF Capital. The Bank of England will vote on whether to cut or hold the base rate on 7 August with markets pricing in a cut. Andrew Hagger, personal finance expert and founder of MoneyComms says: 'A rate cut of 0.25 basis points is still pretty much a certainty even with the economic data published this week.' In general, savings rates rise when the base rate is rising, and fall when it is falling. Easy-access rates are usually the first to be slashed when the base rate is cut as savings providers react to the cut, while cuts to fixed-rate bonds tend to move more slowly. 'Easy-access deals will take a hit - maybe not falling by a full 0.25 per cent in all cases' says Hagger. 'However, with fixed-rate bonds the next cut has probably already been priced in - in most cases,' he adds. For this reason Hagger says: 'If you've got some spare cash that you don't need for a year or two then locking some away in a fixed-rate bond makes sense as fixed rates are unlikely to increase from their current levels.' A saver stashing £10,000 in the top one-year fix offered by GB Bank would earn £458 at the end of the term. While a saver putting £10,000 in DF capital's two-year fixed-rate bond would earn £927 at the end of the two year term. For savers who want to lock their savings away in a tax-free Isa to avoid paying tax on their savings interest, Vanquis Bank has a one-year fixed rate Isa paying 4.3 per cent while United Trust Bank has a two-year fixed-rate Isa paying 4.25 per cent.
Yahoo
09-07-2025
- Business
- Yahoo
Fintechs urge Reeves to incentivise floats to boost flagging London market
Some of Britain's leading financial technology companies have urged the chancellor to incentivise them to list on London's flagging stock market or risk seeing them turn to rival international exchanges. Sky News has learnt that Rachel Reeves met executives from companies including Atom Bank, Clearbank, Revolut and Zilch on Wednesday morning to discuss the launch of the Treasury's financial services growth and competitiveness strategy. Sources briefed on the meeting said the chancellor was pressed to consider allowing investors in newly listed companies to benefit from stamp duty holidays or capital gains tax cuts as a way of encouraging fast-growing businesses to float in the UK. Money latest: Lidl trials supermarket theft 'VAR' One said that had "listened" to the suggestions from industry executives, but had not expressed an opinion on them. The pleas came days after data was published showing the London Stock Exchange had had the worst start to a year by volume of funds raised through initial public offerings in at least three decades. Ms Reeves plans to restrict the amount that can be saved in cash ISAs in an attempt to draw more capital into public markets - although that decision too is facing stiff opposition from some quarters. Some of Britain's leading fintechs, such as digital bank Monzo - which was fined more than £20m for anti-money laundering failures this week - are considering floating in London or New York. Revolut and Zilch are also expected to consider both listing venues seriously when they decide the time is right to go public. A Treasury spokesperson said: "Fintech is the future of financial services. "Next week's Mansion House will set out how we plan to support the sector to thrive."
Sky News
09-07-2025
- Business
- Sky News
Fintechs urge Reeves to incentivise floats to boost flagging London market
Some of Britain's leading financial technology companies have urged the chancellor to incentivise them to list on London's flagging stock market or risk seeing them turn to rival international exchanges. Sky News has learnt that Rachel Reeves met executives from companies including Atom Bank, Clearbank, Revolut and Zilch on Wednesday morning to discuss the launch of the Treasury's financial services growth and competitiveness strategy. Sources briefed on the meeting said the chancellor was pressed to consider allowing investors in newly listed companies to benefit from stamp duty holidays or capital gains tax cuts as a way of encouraging fast-growing businesses to float in the UK. One said that had "listened" to the suggestions from industry executives, but had not expressed an opinion on them. The pleas came days after data was published showing the London Stock Exchange had had the worst start to a year by volume of funds raised through initial public offerings in at least three decades. Ms Reeves plans to restrict the amount that can be saved in cash ISAs in an attempt to draw more capital into public markets - although that decision too is facing stiff opposition from some quarters. Some of Britain's leading fintechs, such as digital bank Monzo - which was fined more than £20m for anti-money laundering failures this week - are considering floating in London or New York. Revolut and Zilch are also expected to consider both listing venues seriously when they decide the time is right to go public. A Treasury spokesperson said: "Fintech is the future of financial services.
Yahoo
02-07-2025
- Business
- Yahoo
North East tech companies with hundreds of jobs available as industry booms
North East tech companies are hiring as the sector continues to grow in the face of a critical skills shortage. Major employers including Sage, Tombola, Atom Bank and Bede Gaming are currently advertising a wide range of roles across the region, from entry-level positions to specialist technical jobs. The North East tech sector is now valued at more than £2 billion and supports over 35,000 jobs. Atom Bank, Sage and Tombola are among the global names headquartered in the region, while companies such as Just Eat and Accenture have also invested in the area. (Image: Supplied) However, the industry is facing a critical skills shortage, with many employers struggling to fill vacancies. One issue is that many people outside the sector are unaware that their existing skills and experience could transfer to tech roles. There is also a lack of awareness about entry-level opportunities and training schemes that could help individuals start a career in technology. Sage, based in Newcastle and employing more than 1,200 people at its Cobalt headquarters, is currently recruiting for a range of roles. The company offers software and services that support small and medium-sized businesses with accounting, finance, HR and payroll. Current vacancies include positions in administration, customer service, app development and technical Tombola, which began as the Edward Thompson stationery shop and now runs the world's largest online bingo site, is also hiring. Based at its Sunderland campus on Wylam Wharf, the company is recruiting for roles including Cloud Security Engineers, Test Leads, Information Security Analysts, a Head of Game Studio and various developer Atom Bank, the UK's first app-based bank and winner of multiple employer awards, is looking to fill roles in testing, engineering, DevOps, change management, service management and Bede Gaming, which supplies gambling platforms and software to regulated online casinos, bingo operators and lotteries, is advertising vacancies for a Principal Data Engineer and a Staff Software LM Global specialies in providing communications and business technology systems and is now actively recruiting for app developers, engineers, sales executives and solutions Tharsus, which supplies cutting-edge robotic and strategic machine engineering, is recruiting for several software engineering-based positions at its Blyth Accenture has invested heavily in its Newcastle office at Cobalt Business Park over recent years. Roles currently available at the headquarters include data engineers and technical Headquartered in Newcastle, Partnerize is a leader in Partnership Automation for some of the world's largest and most innovative brands. The company is currently recruiting across several roles, including customer support and systems Kromek Group is a leading developer of radiation detection solutions and is currently recruiting for several technical positions at its global headquarters based in Sedgefield, County
Daily Mail
26-06-2025
- Business
- Daily Mail
EXCLUSIVE How choosing the right mortgage lender could allow a first-time buyer to borrow £124,000 more
First-time buyers may be pushed into buying smaller, cheaper homes in less desirable areas if they pick the wrong mortgage lender, new analysis has revealed. Mortgage broker Trinity Financial entered details of a fictional typical first-time-buyer couple into nine mortgage lenders' online calculators to find out how much they could borrow. It found that mortgage lenders offer different loan amounts to applications with identical circumstances due to their varying mortgage affordability assessments. Based on a joint income of £80,000 and a 25 per cent deposit, the research uncovered a near £124,000 difference between the most and least generous maximum loan amounts. It means those who don't shop around for their first mortgage may end up compromising on the home they buy, not knowing they could potentially borrow more elsewhere. The analysis found that Nationwide Building Society and Atom Bank are the most generous towards first-time buyers. Nationwide offers to lend up to six times annual income, via its Helping Hand scheme, which is available to eligible first time buyers with its five and 10 year fixed rate mortgages. Securing a Helping Hand mortgage with Nationwide on a five-year fix with a 25 per cent deposit could mean a couple earning £40,000 each (£80,000 combined) could borrow up to £480,000. This means they would be able to buy a home worth £600,000, which is more than the average property price in London. At the other end of the spectrum, the analysis found that the same first-time buyer could be limited to borrowing £356,000 if they chose Santander. With a 25 per cent deposit in place, this would mean they might end up buying a property worth £445,000. Aaron Strutt of Trinity Financial, said: 'Many first-time buyers do not realise that the amount they can borrow ranges so significantly depending on the lender they apply to for a mortgage. 'It does pay to shop around when it comes to mortgage affordability and borrowing the amount you need. 'Most lenders use completely different calculations to determine how much their customers can borrow, and as a result, the maximum loan sizes can vary significantly. 'Lenders can also offer surprisingly large loans to joint applicants with clean credit histories and strong incomes.' A string of mortgage lenders have been relaxing their affordability rules and launching products that could benefit first-time buyers in recent months. Yesterday, Nationwide announced it will be offering first-time buyers the chance to get a 5 per cent deposit mortgage when buying a new-build. The day before it was announced that first-time buyers with at least a 20 per cent deposit can now buy with an interest-only mortgage via lender Gen H. Since March, multiple high street lenders have loosened their mortgage rules, allowing people to borrow more when buying a home. And only last month, two smaller lenders announced they are now offering people the chance to buy a home with a mortgage covering the entire purchase price. April Mortgages and little-known lender Gable Mortgages are both providing the home loans which don't require the borrower to put down any deposit. 'The mortgage market is quite complex these days, and lenders are keen to attract first-time buyers, which is why there are numerous products designed to help them get on the property ladder,' adds Strutt. 'Generally speaking, the largest lenders offer the most competitive rates, while smaller lenders charge more, especially if they are offering a more bespoke product. 'Just because a lender offers high income multiples, it doesn't mean borrowers need to max out their borrowing - it's simply good to know the options they have available to them.' How to find a new mortgage Borrowers who need a mortgage because their current fixed rate deal is ending, or they are buying a home, should explore their options as soon as possible. Buy-to-let landlords should also act as soon as they can. Quick mortgage finder links with This is Money's partner L&C > Mortgage rates calculator > Find the right mortgage for you What if I need to remortgage? Borrowers should compare rates, speak to a mortgage broker and be prepared to act. Homeowners can lock in to a new deal six to nine months in advance, often with no obligation to take it. Most mortgage deals allow fees to be added to the loan and only be charged when it is taken out. This means borrowers can secure a rate without paying expensive arrangement fees. Keep in mind that by doing this and not clearing the fee on completion, interest will be paid on the fee amount over the entire term of the loan, so this may not be the best option for everyone. What if I am buying a home? Those with home purchases agreed should also aim to secure rates as soon as possible, so they know exactly what their monthly payments will be. Buyers should avoid overstretching and be aware that house prices may fall, as higher mortgage rates limit people's borrowing ability and buying power. What about buy-to-let landlords Buy-to-let landlords with interest-only mortgages will see a greater jump in monthly costs than homeowners on residential mortgages. This makes remortgaging in plenty of time essential and our partner L&C can help with buy-to-let mortgages too. How to compare mortgage costs The best way to compare mortgage costs and find the right deal for you is to speak to a broker. This is Money has a long-standing partnership with fee-free broker L&C, to provide you with fee-free expert mortgage advice. Interested in seeing today's best mortgage rates? Use This is Money and L&Cs best mortgage rates calculator to show deals matching your home value, mortgage size, term and fixed rate needs. If you're ready to find your next mortgage, why not use L&C's online Mortgage Finder. It will search 1,000's of deals from more than 90 different lenders to discover the best deal for you. > Find your best mortgage deal with This is Money and L&C Be aware that rates can change quickly, however, and so if you need a mortgage or want to compare rates, speak to L&C as soon as possible, so they can help you find the right mortgage for you.
