POUND NOTES
BLOW FOR SAVERS AS NS&I ANNOUNCES ISA RATE CUT
SAVINGS provider NS&I is cutting the interest rate on its Direct Isa from 1% to 0.75% from September 24. NS&I has a duty when setting interest rates to balance the interests of savers, taxpayers and the broader financial services sector. Jill Waters, NS&I retail director, says: “We have taken the decision to reduce the interest rate on our Direct Isa to deliver positive value for taxpayers.”
PARENTS STRUGGLE TO JUGGLE WORK AND SUMMER CHILDCARE
A THIRD of UK parents are taking seven days or more off work this summer to take care of the kids, research from Halifax has found. A fifth (19%) will need to take at least two weeks off work to cover childcare gaps, with many relying on grandparents to step in.
Andy Bickers, mortgages director, Halifax, says: “The school summer holidays mean parents often need extra childcare to cover the long break.”
BRITS REFUSE TO GIVE UP OUR FAVOURITE BRAND OF TEA
PEOPLE would be least likely to give up their favourite brands of tea and coffee if money was tight, a survey from TopCashback.co.uk has found.
Shampoos and conditioners are the second least likely brands people would swap to save on cash, followed by washing powder.
Condiments would be the most likely items people would be willing to switch for a cheaper brand, the research suggests.
FINANCIAL FACT: Homes with a sea view in Britain’s seaside towns have a price tag that’s, on average, £68,000 or 29% higher than homes in seaside towns with no sea view, according to analysis of more than 87,700 property listings by Rightmove.