NatWest launches savings prize draw by Finance News Bulletin
- Home
- »NatWest launches savings prize draw
Published: 23/02/07
NatWest has unveiled details of a new award draw that aims to encourage people to start economy money with the financial armed forces providerUnder the scheme, any banking customer who opens a new savings account or alternatively arranges an investments means of transportation with the banking organization by April 16th 2007 will be automatically enrolled into a prize drawThis competition features a variety of money prizes ranging from £100 to £10,000, which could help to substantially boost the investments of the lucky winnersHelen Page, marketing manager at NatWest, explained the importance of promoting savings options to clientele
"Savings are high on the list of priorities when it comes to individual finances and it is significant for NatWest to continue to encourage a savings culture among customers of every age," she saidNatWest was shaped in 1968 by a merger between nationwide Provincial Bank and Westminster Bank before being in use over by rival banking institution Royal store of Scotland Group in 1999It offers a range of financial services counting savings accounts, mortgages, credit cards, business loans and savingsMajority of over-45s use price comparison websites, virtual banking report indicates - Fri, 09 Feb 2007Bad customer armed forces motivates people to switch banking financial records, study suggests - Mon, 29 Jan 2007HSBC reveals a million internet banking clientele have turned backs on paper - Wed, 17 Jan 2007NatWest launches investments
Visit original article:Related Articles:
Should we borrow in euros? - Published:21/11/06
We are considering buying a possessions in Southern Spain for £150,000 Our house in the UK is worth £250,000 with a £60,000 mortgage exceptional, we have a £10,000 deposit to invest and our combined profits is £65,000Initially we though it would be most excellent to re-mortgage our UK home but we have seen a number of Spanish euro mortgages obtainable Which is the most excellent way to fund the purchase BG, BucksDarren Fretwell from NatWest International Spanish mortgages replies: characteristically most lenders will look for a contribution of between 25-30% of the purchase priceIt is also important when calculating your financial plan that you let about 12% of the purchase price to cover the associated cost, taxes and land registry charges that come with buying possessions in SpainIn this example it may be appropriate to raise equity from the possessions in the UK to cover the contribution and fees The equilibrium could then be raised by taking out a mortgage on the property in SpainThis will give you the opportunity to take advantage of the possible financial planning/tax benefits available by having a mortgage on the Spanish property, together with the opportunity to take advantage of present lower interest rates on a euro denominated loan, compared to genuine borrowingIf taking the loan on the Spanish property in euros this is then in the reference money of the property in Spain albeit consideration also needs to be given to the exchange danger of your earnings being in sterlingchoose a loan term 12 months (1 year) 24 months (2 natural life 36 months (3 natural life 48 months (4 natural life 60 months (5 natural life 72 months (6 natural life 84 months (7 natural life 96 months (8 natural life 108 months (9 years) 120 months (10 years)Please choose a type of insurance Life insurance house and contents Car Breakdown services Health - medical Health - dental Travel Pet - afflict.
Read More: Should We Borrow In Euros? >>Holiday homes stampede - Published:26/10/06
MORE than a quarter of a million Britons own a overseas property This number has risen by almost 50% in the past six natural life and continues to grow, thanks in part to the many television shows extolling the joys of having a vacation homeThis figure is expected to double in the next five natural life, according to Halifax Estate Agents The most popular destinations for second homes overseas are Spain, France, Florida, Portugal and Italy Others rising in popularity include Croatia, Turkey, Cyprus and Morocco, where persons often expect to pick up a bargainBut before you dive in head first, there are many issues to think, especially if you plan on renting out the home Although Europe has a single money and many ordinary laws, there are still massive differences in the tax and legal requirements when trade and renting your French fortress or Spanish villaThe key is to do your research A good thought is to agree a loan in principle with the mortgage corporation for your main home to give you an idea of how much you can spend Simon Conn, managing director of Conti monetary Services, a specialist in buying property overseas, says: 'Don't always get drawn to places on the basis of inexpensive flights There's no guarantee the financial plan airline will always fly that route, which means rental potential will plummet'Because the mainstream of people take a mortgage secured on their UK house, the lender doesn't need a assessment on the holiday home But Mr Conn warns: 'This is very dangerous We constantly perceive sound horror stories of people buying places without getting an independent assessment done and just trusting restricted developers In some cases, the property has afterwards been demolished as it breached planning rules'The easiest option is to raise assets on your existing UK home, providing you have enough equity built up in it Your lender may want to revalue your house and will make a charge for this as well as charging for the further advance of moneyYou will also be restricted to whatever mortgage deals your alive lender offers However, if you do not have penalties on your existing mortgage, you could look around for a new deal and remortgage on the other hand, you could opt for a foreign money mortgage A euro mortgage will normally be done with a bank or lender close to where you desire to buy, though some UK banks and building societies have abroad operations The abroad lender will do their own checks on the property to make sure the house is registered in the vendor's name and that a proper lawful title existsEuro mortgages tend to be cheaper The interest speed for a sterling mortgage in Spain is about 625% compared with rates from 37% for a euro mortgage The large High Street lenders Barclays, Halifax, Lloyds TSB and NatWest proffer foreign currency mortgages Whether this is right for you will depend on your personal circumstancesRob Clifford, at national agent MortgageForce, says: 'While a euro mortgage looks cheaper, it can be burdened with hassle as you are exposed to exchange rate movements which can create monthly costs higher than expected and make it hard to budget But a euro mortgage is a better alternative if you're renting the property out and being paid in euros, as the rental profits can be offset against mortgage repayments'Eastern Europe is rising in popularity with vacation makers and vacation home owners searching for a bargain You can, for instance, pick up a two-bedroom possessions at a Black Sea option for about £50,000 Properties in the mountains cost about £40,000A two-bedroom apartment on Croatia's Istrian Peninsula will price you about £60,000 while a new-build villa could be £150,000 or more But be warned that in some countries you can't buy land or possessions directly, so a limited company has to be set up to do this Also, while properties are cheaper, there are risks linkedAlthough sightseeing is growing, there is no guarantee this will continue, which affects rental possible Eastern European countries also have less steady political climates so if a government changes and takes a dim sight of foreigners buying its properties, your investment is at riskHowever, Andrew Hamilton, advertising manager at The 4Less collection, an overseas property mortgage specialist, says: 'The Bulgarian market is becoming increasingly more stable as they are set to link the EU in early 2007 Buyers can find a two-bedroom apartment for as little as £10,000 and the plea of trade is likely to grow in the future'He adds: 'British buyers are becoming more daring and long-haul destinations such as Florida, South Africa, Canada, New Zealand and Australia shape the next tier of our inquiries'beam and Betty Williams have homes on the Costa Del Sol and in Florida The couple, from High Wycombe, Buckinghamshire, bought a two-bedroom possessions in the Cala de Mijas resort in Spain four years beforeRay, 69, a part-time chairman of a production corporation, bought the apartment without a mortgage for £70,000 The pair take holidays in the possessions about five times a year They don't rent it out but are still legally responsible for income tax on possible rent as it is not their main residence Two years ago they also bought a four-bedroom home in Orlando, Florida, for £115,000 When trade both properties, they used foreign exchange specialist Currencies Direct to handle the money move, which Mr Williams says saved them about £4,000The Florida home was bought with a five-year fixed speed mortgage of £80,000 from the Wakefield Mortgage Company at 525% It was part of a deal with the US brokers they second-hand The couple have now put the home on the market beam says: 'The biggest obsession to bear in mind when buying and selling overseas is your legal responsibility for tax You may get charged 15% duty on any gain and think you've saved yourself money as it would have been higher in the UK, but you'll still have to make up the difference at some stage'WE looked at four of the most popular locations Tax, planning and lawful requirements are complex and you should consult a restricted solicitor who speaks good English Even if you buy abroad you are still liable to UK taxes as long as you are a British nationwide and stay a UK resident But Revenue and Customs has actions with most countries to make sure you're not taxed twice Sadly, you'll always disburse the higher rate So if you are a higher-rate taxpayer in the UK (paying 40%) and you rental fee out your property in Spain, the Spanish administration will charge you only 25% income tax - but you'll have to pay the 15% difference hereAverage price of possessions: £130,000 Income tax on rent: Up to 48% Capital gains tax: 16% for EU people, then further reductions after two years Inheritance duty: Complicated system but can pay up to 40% riches tax: Up to 18% of property's value every year Estate agents' cost: From 4% to 12% In some areas, the buyer pays not whole Stamp duty: 489% but exemptions be relevant VAT on new properties: Up to196% Council tax: Based on property's value Exemptions if property is vacantstandard cost of property: £130,000 Must obtain an NIE figure - a foreigner identification number Income tax on rental fee: 25% for non-residents Tax breaks obtainable Will still be taxed if you don't rent out house at level set by government Capital gains tax: 35% when you sell possessions Inheritance tax: Not a fixed rate Depends on number of factors counting the wealth of beneficiary, not now benefactor Wealth tax: From 02% to 25% of value of property every yearStamp responsibility: Transfer tax of 6%/7% but not waged if you've already waged VAT storage bin: 7% for newly-built properties Rises to 16% for plots of land, commercial premises Council tax: owed along with other little taxes Set by town hallsAverage cost of property: £130,000 A Fiscal number is required - the equal of a National Insurance figure Income tax on rent: About 43% for non-Italian residents duty breaks available Will still be taxed if you don't rent out home Capital gains duty: None, but annual tax on property legacy tax: None Wealth tax: None trample duty: Registration tax of 7% to 15% VAT: Up to 20% on new properties Council duty: 4 to 6% of ground registry value Separate taxes for rubbish disposal and waterAverage cost of house: £90,000 Income tax on rent: 15% Capital gains tax: 25% for non-residents legacy tax: None Wealth tax: None Stamp duty owed: Transfer tax of 2% to 8% This replaced legacy and gift tax VAT: Up to 21% on novel properties Council tax: Twice a year up to 08%choose a loan term 12 months (1 year) 24 months (2 natural life 36 months (3 natural life 48 months (4 natural life 60 months (5 natural life 72 months (6 natural life 84 months (7 natural life 96 months (8 natural life 108 months (9 natural life 120 months (10 natural lifePlease select a type of insurance Life cover Home and contents Car Breakdown services Health - check-up Health - dental Travel Pet - dog Pet -.
Read More: Holiday Homes Stampede >>NatWest pigs born again - Published:25/10/06
More than ten years after they were withdrawn, NatWest has relaunched its iconic variety of NatWest piggy banksSavers of a sure age will have fond memories of the NatWest piggy bank relations which the bank used to encourage saving, offering a new family member as more cash was bankedStarting with baby forested, the family progressed through Annabel, Maxwell, Lady Hillary up to Sir Nathaniel Westminster when the investments account reached £100Saving accounts opened between now and April 14th will take delivery of a special bullion Woody to start their collection and will be entered into a free sketch with a £10,000 grand prize"We are delighted that the NatWest pigs are back as part of this great prize draw, as in the past they are the face of NatWest investments," said Helen Page, NatWest marketing directorThe NatWest is now probable to become the best savings account for encouraging the saving habit among UK children, as well as adults who never quite managed to arrive at the full setFirst launched in 1983, the piggy family has become increasingly valuable, with a full put now worth £400MoneyExpert Limited is authorised and regulated by the Financial Services power (FSA Registration No 301654) The Financial military Authority does not regulate some forms of mortgage contract, credit cards, personal loans, present.
Read More: Natwest Pigs Born Again >>