Helping you keep your finances healthy!

UK banks have come in for their fair share of criticism in recent years. People have been angered by the huge bonuses the top dogs have received since the banks were bailed out by the taxpayer.

There isn’t a UK adult who hasn’t contributed to the bank bailout in some way. But now there looks fair chance of recovering some of that money – maybe even making some profit. So how should that be shared out? Is it time for you & me to get a little banker’s bonus of our own? And how about bank staff themselves?

Two of the country’s biggest banks, RBS and Lloyds Banking Group – both currently owned by the state – have made themselves a fresh priority: “win more current accounts”.

Ever wonder if you are getting the best deal with your bank or if you have an overdraft facility, whether you are paying the lowest rates?

With so many high street and internet banks now on offer, the choice really is endless and much of it depends on your own personal financial circumstances.

It’s not often banks are commended for their services to society.

To the contrary: since 2008 the word “banker” has become almost like a swear word!

But should all financial institutions be tarred with the same brush?

You might have noticed a number of so-called ethical banks claiming to be putting social, ethical and environmental concerns before simply making money.

The Bank of England has again held interest rates at an historic low of 0.5% but fears are growing that mortgage borrowing costs will not stay down for much longer.

The base rate has been the same for about two years and those on tracker deals would have definitely benefited the most. I was one of those lucky people – signing up for a three year tracker in 2007 at a rate of 4.9% and then gradually seeing my payments get lower and lower until my mortgage company capped the rate at 2.75%. My tracker deal has now ended and my payments are worryingly starting to rise.