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Cheap Car Insurance: Save £100s at speed
New Year's challenge... can you beat our record 96p/YEAR's fully comp?
Prices are up a huge 31% so NEVER, ever, ever just auto-renew, you could be overpaying £100s. Instead follow this system to scythe down costs. Fully comp can be cheapest: Bizarrely, the fact you opt for fully comp is sometimes viewed as indicating you're a lower risk, so if you're thinking 3rd party, check both. Step 1: Combine comparison sites: Our new review shows using both MoneySupermarket* AND GoCompare* gives max. coverage with 145 providers, though add more if there's time. Step 2: Check ones they miss: Two big competitive insurers, Aviva* & Direct Line*, aren't in comparisons so check them too (both have promos). Step 3: Cashback: Members of cashback sites may get up to £100 buying through them, or for speed, comparison sites BeatThatQuote* & MoneyExpert* give £25 cashback. 96p/fully comp: The record using this system's a £120.96 quote then £120 cashback - 96p for a year fully comp. Such ridiculous results are rare, so if you beat it we'd love to know (champers if you prove it). FULL step-by-step in the Updated Guide: Cheap Car Insurance Related Ins. Guides: Home, Van, Bike
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Wed AM! Cheapest loan for 2 yrs launches... 7.3% APR
After years in the doldrums, loan rates have finally started to creep down
Even though rates are getting cheaper, be very careful borrowing. Check you really need it, and always ensure it's planned, budgeted for & you borrow as little as possible. If you're consolidating credit cards, see the big note on Balance Transfers below, as that's cheaper. Remember, these days all loans are 'typical' rate, meaning 1/3 of accepted applicants pay MORE. Over £5k: From Wed AM, Santander* has dropped to 8.5% APR, or Tesco* is 8.7% APR. Over £7.5k: Santander* is now just 7.3% or Sainsbury's* is 7.4% for nectar cardholders. Over £15K: Also from Weds, A&L* has dropped to 8.3% or Tesco* 8.4%. Under £5,000 - use a card. Even the cheapest loans can cost 18% for smaller amounts, instead disciplined short term use of a credit card such as Tesco*, which is 0% on spending for 13mths (16.9% APR after) is cheaper, or if you need cash use a cheap credit card. FULL info, warnings & best-buys in the Updated Guide: Cheap Loans Related: 0% for 17mth Balance Transfers
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Save £300 on 2011 energy bills (takes 3 mins)
nPower's just joined BG, Scot Power & SSE hiking prices 5%+. Switch NOW!
On Tue, nPower hiked rates by 5%, following even bigger rises from other big six gas & electricity providers. This leaves most people in the UK wasting a fortune. It's about your tariff not company: The company you're with is less important than which of its many tariffs you're on. While 'standard' tariffs are c. £1,250/year, the same provider's online tariffs can be £950. Go Quick: The switch over takes up to two months, so do it now to reduce costs this winter. Plus, many super-cheap online deals are being replaced by costlier equivalents. Shouldn't I wait? In the past we've said don't compare when prices are moving as the playing field's not level, but the savings gained by switching from standard to online tariff will (hopefully) outweigh that, even if the rates increase afterwards. Compare, switch & get cashback: (via these MSE links) Top Pick: Energyhelpline* pays £15 cashback per switch. Dual Fuel: MoneySupermarket* £30 in cash, Uswitch* offers a crate of wine, SimplySwitch* £35 Amazon vouchers. FULL info & more cashback options in the Updated Guide: Cheap Energy + Cashback Related: Boiler Cover |
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Fees free lifetime tracker mortgages
HSBC axes admin fees on some of its mortgages, but are they any good?
In its highly publicised 'Jan sale', HSBC's waived application fees on its trackers. Some mortgages charge over £1,000, so that's a boon, though you'll still pay legal fees. What's the rate? Its cheapest is base rate + 1.79% (currently 2.29%) but you'll need a max 60% LTV (borrowing less than 60% of your property's value) - according to broker L&C this is a best buy lifetime tracker. The bigger the LTV (max. 90%) the higher the rate. Any good? If you are happy with a mortgage where the rate rises with interest rates, it can be competitive, though if you can't afford a rate hike, consider the surety of a fix. Use a broker: Mortgages are complex, so we believe in using 'whole of market' mortgage brokers to scour them for you. Yet this is a 'direct only' deal - most brokers can't offer it - which is why we've highlighted it to ensure you check. If you're considering this, speak to a broker, mention this deal and see how it compares to what it's got. More Help: Cheap Mortgage Finding, Free Remortgage Guide, Fixed vs Discount, Ultimate Mortgage Calc |
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Reminder! Longest ever 0% balance transfer!
Save £100s credit card interest: 0% for 17 mths or lock-in at 6.8% for good
You pay around £180 per year interest per £1,000 of credit card debt on typical credit cards, yet many can shift existing debts to slice that to nearly nowt.
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Longest 0% deals: For a one-off 2.9% fee, new Barclaycard Platinum* cardholders who pass a credit check (min. income £20k) get 0% for 17 mths. Yet pay it off within 17mths or shift again, or the rate jumps to 16.9% APR. Next longest's MBNA Plat Plus's* 0% for 16 mths with a 2.88% fee (16.7% APR after). Full info: 0% Best Buys. |
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Lock-in at 6.8% for life: If you need longer to repay, new Barclaycard Simplicity* holders can shift debts to its standard 6.8% APR and regulations mean you can reject any rate rises provided you don't borrow more (see Rate Jacking guide) though sadly 1/3 of accepted applicants may get a higher APR. Alternatively MBNA's Rate for Life is 5.9% APR life of balance with a one-off 1.5% fee. Full info: Long Term Best Buys. |
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Cut costs without new credit: Try asking your existing card providers if you can shift debts on other cards to them. Eg, for a 3% fee Barclaycard has a 6.9% existing customer balance transfer deal. While not quite as cheap it can be easier to get and protects your credit score. Full info: Credit Card Shuffle guide. |
Always pay at least the monthly minimum or you can lose 0% deals and rights. Updated Guide: Balance Transfers Related: 0% for 13mths on New Spend, Debt Help
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Free £100 for switching bank is back
Ditch accounts with fees | Get a 0% overdraft | Earn up to 5% in credit
There's a price war for those in-credit, while all can gain, none more than those who pay a monthly fee. Eg, Lloyd's Premier's £25/mth is £300 a year. Better rates or similar benefits are available FREE... Opt 1: Free £100, 5% int, poor service. The rate-topping Santander* In-Credit account on/off £100 switching bonus is back provided you earn £15,000+, plus you get 5% interest on up to £2,500 balances and a 0% overdraft for 4 mths (19.9% EAR after). Yet its customer service rating is poor. Opt 2: Free £100 & TOP service. New First Direct* 1st acc. customers earning £23,300+ get a £100 switching bonus and its customer service is no.1 rated. Opt 3: Free travel, mobile & breakdown cover. Until 15 Jan (so go quick), the Co-op Privilege Premier, normally a £13/mth fee charging account, is free for a year. You get worldwide family travel ins., European vehicle breakdown cover and mobile phone insurance worth £150ish and it's 2nd ranked for service. Yet after 12 mths, convert to one of its free accounts, or switch again. Are you overdrawn? Santander's* Preferred Overdraft Rate - gives a year's 0% interest (12.9% EAR after) provided for switchers who earn £15,000+. FULL info, pros and cons in the Updated Guide: Best Bank Accounts Related: Cheap Credit Card Loans, Basic Bank Accounts |
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