UK money news stories - 7 August 2024

Interest rate cut to 5%: what does it mean for you?

After four years of rising interest rates we FINALLY saw a drop last week. But what does it mean for your finances? Be Clever With Your Cash’s Editor-in-Chief Andy has done a full analysis of why the change to the Bank of England base rate matters.

Virgin Money 10% Regular Saver review

Regular savers let you save small, monthly sums and often pay decent rates. But now there’s a new regular saving account on the market paying a whopping 10.38% - a rate we’ve never seen before! But who can get it and is it worth applying for?

High street bank axes credit card for tens of thousands of customers – exact date spending will be stopped

There have been plenty of shake-ups at Metro Bank recently, including the introduction of overseas debit card fees and the axing of its seven-day branch opening hours. The latest overhaul is to its credit cards. If you’ve got one, it’ll stop working from 10 September this year.

Why are there so many fast-food offers on?

People have become much more thrifty as a result of the cost of living crisis and fast food restaurants are desperate to tempt them back with meal deals, discounts and special offers. Lunch deals are particularly competitive with KFC and Dominos launching promotions in the last few months.

‘I’d be better off if I hadn’t been to uni’: UK graduates tell of lives burdened by student loans

Graduates share their experiences after taking out student loans to support themselves through university. Many are avoiding progressing in their careers because they cannot afford higher loan repayments while others are borrowing to clear their debt. Be warned, it makes for sobering reading.

Nationwide launches dementia nurse clinics in more than 200 branches to help out its customers with health and financial advice

The building society plans to help over 100,000 customers with dementia in its branches with its partnership with charity Dementia UK. “Admiral nurses”, who specialise in dementia, will provide health and financial advice both in person at branches and over the telephone.

Social media reacts to Rough Trade’s “ill-advised” vinyl selling scheme: “Genuinely insulting”

People aren’t happy with record shop Rough Trade’s new vinyl trading scheme. Critics say the prices they’re offering for pre-loved records are “exploitatively low”, which is especially unwelcome in a cost of living crisis.