MONEY MORSELS
Poor retirement
Only around half of savers in their 40s are putting away enough each month to provide for their retirement.
Scottish Widows says this is because fewer savers are benefiting from gold-plated final salary pensions, and they are not able to build up as big a pot in riskier stock market linked schemes.
Top loan
SAINSBURY’S Bank has slashed its personal loan rate to 3.3 pc on loans between £ 20,000 and £ 25,000. Previously the rate was 3.9 pc for a loan the same size taken over terms of between two and seven years. And Nectar loyalty card holders can get the same loan at 3.2 pc.
Switching bonus
HSBC is offering £200 if you switch to its Advance current account. Customers receive £150 within the first 70 days if they register for online banking and switch over two direct debits or standing orders. After a year, you will then receive a further £50. you must pay in a minimum of £1,750 a month.
Cinema deal
FILM lovers have until tomorrow to get 45 pc off Odeon cinema tickets. To get the discount code go to vouchercloud.com/odeon-vouchers and sign up for free using your email address. You must buy your cinema ticket online.
Student spends
OnE-in- ten freshers heading to university is likely to spend their entire student loan within the first two weeks of term. Half will blow their cash before the end of term and a quarter will need to dip into their overdrafts, according to research by the comparison website Compare The Market.
Lower deposits
LEEDS Building Society has made it easier for interest-only mortgage customers to take out a loan by reducing its deposit requirement from 50 pc to 40 pc. Banks and building societies have brought in much tougher requirements for interest-only borrowers in recent years to ensure customers are able to repay their loans.
Food waste
SAInSBURy’S is offering free fridge thermometers to customers to ensure their fridges stay at the correct temperatures to prevent food waste. Staff will be handing out the devices in stores across the country. It says that research shows that the average family of four wastes £700 a year on food they end up throwing in the bin.
Pension tracker
RETIREMENT help organisation, The Pensions Advisory Service, has launched a new tool on its website to help savers track down lost pensions. Visit pensionsadvisoryservice.org. uk/my-pension.
Cheap mortgage
nATIOnWIDE Building Society has launched a two- year tracker mortgage at 3.59 pc for first and second-time buyers who have a 5 pc deposit. The maximum loan is £500,000. Monthly repayments work out at £ 758 and the total cost including a £999 fee is £19,191. This assumes the Bank of England base rate remains at 0.25 pc.