Banks, Financial, Financial Services, Home Equity, Interest Rate, Loans, Money, Mortgage, Personal Finance

Tracker Rate Mortgages Gain In Popularity

So far this year, fixed rate mortgages have been by far the most popular choice of deal as borrowers have sought the security of a fixed rate during the recession.

Gain

However, August has seen an increase in interest for tracker rates which are linked directly to the Bank of England Rate. Earlier this month, the Bank of England announced it was keeping rates on hold at an all-time low of 0.5%. It then published its Quarterly Inflation Report and predicted that rates would remain at their record low for some time to come.

Richard Morea, Technical Manager at L&C said, “With signs that interest rates could remain at 0.5% into 2010, many borrowers are deciding that they are willing to take the risk of having a variable mortgage rate, in order to benefit from low interest rates. Tracker mortgages are not for everyone though – if you’re on a tight budget and are worried about being able to afford a rise in mortgage payments, then a fixed rate mortgage is still a good bet.”

London & Country (L&C) is the UK’s leading no-fee mortgage broker. Based in Bath, it provides whole of market advice via telephone and post to clients nationwide. As well as residential mortgages, it also specialises in the Buy-to-Let and adverse-credit sectors.

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Saxo Bank, The Online Specialist In Trading And Investment, Maintains Profitability In First Half Of 2009

Saxo Bank, the online specialist in trading and investment, has reported its half year results showing that clients’ collateral deposits and assets under management in total exceeded DKK 25 billion and, in a very difficult year, profit before tax reached DKK 55 million.

Saxo Bank, The Online Specialist In Trading And Investment, Maintains Profitability In First Half Of 2009

Operating costs increased primarily due to new office openings, product launches, as well as contributions to the Danish State Guarantee Scheme and with unchanged income, profit before tax declined from the same period in 2008.

– Pre-tax profits of DKK 55 million (DKK 162 million).
– Operating income of DKK 969 million (DKK 969 million).
– EBITDA of DKK 128 million (DKK 221 million).
– Clients’ collateral deposits increased to more than DKK 11 billion (DKK 8 billion).
– Assets under management in the Asset Management department exceeded DKK 14 billion (DKK 0).
– The solvency ratio for Saxo Bank Group was 18.9% (10.1%).

In a joint statement, Saxo Bank co-CEOs and co-founders, Kim Fournais and Lars Seier Christensen, commented: “We did expect 2009 to be a difficult year. However, the results reassure us that we took the right decision when we chose to steer the Bank into a new phase based on a more flexible structure before the financial crisis took hold. We also find it encouraging that the Bank managed to strengthen and optimise its entire value chain, product offering and geographical footprint during what were six very challenging months for the financial markets as a whole. And, equally importantly is of course, that our new Asset Management department got off to a good start with DKK 14 billion in assets under management, a number that since has grown to DKK 16 billion”.

During the first half of 2009, Saxo Bank introduced a number of enhancements to its award-winning online trading platform, the most significant of which were related to Commodity CFD’s and FX options. In addition to a broader product offering, the Bank widened its geographical footprint and established its presence in Milan, Madrid and Prague, and acquired two Dutch broker houses and a Tokyo-based provider of FX services. In May, Saxo Bank became the first Danish bank to receive regulatory approval to operate a regional office in the Dubai International Financial Centre.

About Saxo Bank
Saxo Bank is an online trading and investment specialist, enabling Forex Trading for clients, CFDs, Stocks, Futures, Options and other derivatives, as well as providing portfolio management via SaxoWebTrader and SaxoTrader, the leading online trading platforms.

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With The Bank Of England Rate Remaining At An All-Time Low Of 0.5% In August, Now Could Be A Good Time For Many Borrowers To Consider An Offset Mortgage

An offset mortgage works by using savings you have to reduce the amount you owe on your mortgage and therefore the amount of mortgage interest you pay. For example, if you have an outstanding mortgage of £120,000 and savings of £20,000, you would only pay interest on a mortgage of £100,000. You don’t receive interest on your savings, but that also means that you don’t pay tax on that interest.

This tax benefit, added to the fact that mortgage rates are typically higher than savings rates, means that you could save thousands of pounds in interest with an offset mortgage. Taking a mortgage rate of 3.99%, a basic rate taxpayer would need to earn at least 4.99% from a savings account to get the equivalent benefit. A higher rate taxpayer would need to earn 6.65%.

You could also cut years off your mortgage term by using the saving to make regular overpayments.

Richard Morea, Technical Manager at L&C said, “If you are frustrated with the low interest rates you are earning on your savings in the current market, then an offset mortgage is worth considering. They are not suitable for everyone, but if you have a decent amount of savings, offsetting them against your mortgage could save you thousands of pounds in interest.”

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The DebtBuster Corporation Recognized As Finalists In The Las Vegas Chamber Of Commerce Small Business Of The Year Competition

The DebtBuster Corporation (DebtBusters), the nations most trusted debt settlement firm, announced today that it has been recognized as one of three finalists in the Las Vegas Chamber of Commerce Small Business of the Year competition. Small Business of the Year, awarded as part of the LVCC Annual Biz-E‘s honors a for-profit venture with 50 or fewer employees, demonstrates commitment to community stewardship and is active in the business community of Southern Nevada. The final event, and announcement of the winner will take place at The Rio Hotel and Casino in Las Vegas, NV the afternoon of September 17th, 2009.

The DebtBuster Corporation

David Fishman, the owner of The DebtBuster Corporation, gladly accepts the recognition as a finalist on behalf of his employees. “This is a great honor”, said Mr. Fishman who is also known as Dr. Debt, “we really couldn’t have done this without our great staff and our dedication to excellent customer service. Our goal is to assist everyone that needs help with credit card debt, regardless of whether or not they become our client”. Mr. Fishman went on to say that people who need debt relief, don’t generally ask for it until it’s too late. “Bankruptcy alternatives are available for most people”, said Mr. Fishman, “if you know where to look”.

About The DebtBuster Corporation
Formed in 1998 as subsidiary of the 20 year old commercial debt settlement firm, Arbitronix INC, The DebtBuster Corporation was created to assist consumers by negotiating their unsecured debt directly with creditors, often saving consumers thousands of dollars in the process. Accredited by the Better Business Bureau in 2002, DebtBusters is one of the few debt settlement firms in the country which has achieved an A+ BBB rating. Their dedication to customer service is unparalleled and their motto, “No Obligations. Only Answers.”, shows their willingness to help anyone who calls the Dr. Debt national helpline at 1-800-464-DEBT, regardless of whether or not the caller becomes a DebtBusters Client.

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Research Shows Car Thieves Targeting Top End Motors

LV= has revealed that the average car theft claim has increased in value by almost 40% this year compared to 2008 and is warning owners of expensive cars that thieves may be more likely to target their vehicles.

Research Shows Car Thieves Targeting Top End Motors

Between January and May 2009, data f r o m insurer LV= shows that the average claim rose by 38% compared to the same period last year. Compared to figures f r o m two years ago there is an increase of 44%, indicating a trend that thieves are deliberately targeting cars with a higher value. The average insurance rating of cars being stolen has gone f r o m group 10 to group 20.

As well as seeking out higher value cars thieves are also looking at the age of the car. The average age of stolen vehicles has fallen f r o m ten to eight years old since 2004. However it isn’t all bad news for drivers as the overall number of cars being stolen dropped by 11% between 2007 and 2008.

John O’Roarke, managing director of LV= car insurance, said: “Over the last few years there had been a significant decline in the numbers of cars being stolen but a sharp increase in the value of cars being targeted by thieves. Cars have better security measures on them than ever before so many opportunist thieves simply don’t bother anymore. It would appear that the cars that are being stolen are specifically targeted by thieves who will often break into the owner’s property to steal the keys. Many of these cars are then exported to be sold overseas. Owners of top-end vehicles, like Porsches, BMWs and Jaguars need to be even more vigilant to keep their cars safe.”

“Our data indicates that motorists need to take extra care if they drive a car that maybe particularly attractive to thieves. Having an immobiliser or tracker device fitted, and ensuring the car is kept in a locked garage will not only keep your insurance premium down but will help towards keeping the car safe.”

The LV research also revealed that the three most likely UK cities for a car to be stolen f r o m are London, Manchester and Cardiff.

About LV=
LV= offers home and car insurance as well as pet and travel insurance direct to consumers by telephone f r o m its UK call centres in Bournemouth, Bristol and Croydon and online f r o m its website.

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NS&I Report Reveals Future Families Founded On Fortune

The new National Savings and Investments (NS&I) commissioned report, ‘Families, Finance and the Future’, suggests the existence of a new institution of British life – the ‘Financial Family’ – a collaborative unit of close friends and family marked by financial interdependence. It does not simply show a steady flow of cash down the generations, or the ‘sandwich generation’ arrangement observed in recent years, but also shows flows of money and advice, up and down the generations as well as between siblings.

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The costs of living and care for the elderly are recognised as rising, and the report suggests that the traditional family unit is shifting – yet family ties will be stronger than ever, and people will rely much more on financial networks. By 2029, there will be more cohabiting couples, and more single-person households than married couples living together** – so the Financial Family will be important even after the traditional family has declined.

According to the new survey research, the majority of people felt financially responsible for family members (54%), while 70% stated that current economic trouble meant families needed to support each other (70%).

Young people are more engaged with the Financial Family, with 50% of 16-24s identified as members of a Financial Family, compared to 30% of 25-34s and 20% of 35-44s. As this generation grows up, the Financial Family will become more and more widespread.

Technology will also mean that people are better equipped to share financial advice – but will also make it more important they do so. As the amount of information that tries to reach consumers increases, people will rely on the insights of their financial network to process this mass of information. This network is likely to revolve around the family as most people feel comfortable discussing financial matters (55%) with close friends and family, or sharing financial tips and advice (60%).

Barry Clark, Associate Director at the Future Foundation said: “We feel we’ve revealed a new way for people to look at British family life – and one that will become increasingly common. When we look at several demographic trends, like the rise of single-person households, the advance of technology and young people’s involvement in financial matters, we can expect the Financial Family to be a very important feature in the future. The Financial Family is here to stay.”

Tim Mack, Savings Spokesman at NS&I, said: “We started from an intuitive feeling that discussing money isn’t taboo any more, but the results far exceeded our expectations. The research shows that the discussion of finances, and our relationship with money, extends beyond the traditional family.”

About NS&I
NS&I is one of the largest UK investments and savings organisations, offering a range of savings accounts and investments products, including fixed rate savings bonds, fixed term investments, Premium Bonds, savings certificates, and ISAs to almost 27 million customers. Established in 1861.

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Survey Finds SEPA Still A Priority For UK Corporates

Experian, the global information services company, has revealed that while the majority (67%) of large UK-based organisations are primarily focused on enhancing business efficiency and reducing costs over the coming six months, payment regulation will also remain high on the corporate agenda.

Survey Finds SEPA Still A Priority For UK Corporates

According to a survey of payments professionals conducted at Experian’s Payment Strategies 2009 conference, complying with changes in payments regulation, such as the migration to the Single Euro Payments Area (SEPA) and the Payment Services Directive (PSD), remains a priority for 40% of large companies. The survey also found that finance companies are most focused on complying with upcoming payments regulation (53%), while 26% of the insurance companies questioned are making it a priority to become compliant by the end of the year.

Almost a third of corporates are planning to make use of the SEPA Direct Debit service in the next twelve months, indicating that they are far better informed about the SEPA initiative and its value to their businesses. Another Experian survey undertaken in 2008 revealed that 48% of corporates felt that there was insufficient information provided on the move to SEPA.

Jonathan Williams, Director of Product Development and Strategy at Experian Payments, commented: “While most corporates involved in the migration to the pan-European Direct Debit scheme would admit that it has not been a smooth path to tread, SEPA does create direct business opportunities for these organisations. Those planning to make use of the initiative will benefit from greater efficiency in terms of consolidating their systems and rationalising the number of bank accounts they hold as well as having a common standard for direct debit transactions in Euro countries. Those corporates which need to make payments to and receive payments from the European Economic Area will benefit from this more standardised approach to payment transactions.”

He added: “Under SEPA, the use of BIC and IBAN to identify the bank and account of a payment beneficiary will become mandatory for all cross-border SEPA payments. Corporates need to be aware of the fact that failure to validate these details before making a payment will result in increased costs and poor customer service. They will need to make the necessary changes in the coming months to avoid these pitfalls which, if not addressed, could affect the profitability of their business.”

About Experian Payments
Experian Payments, develops global strategic payment software solutions and services to meet the requirements of the world’s leading banks and corporate organisations. Focussing on the specific challenges of data validation, including processes to convert IBAN, and the processing of international payments, Experian Payments’ platform-independent solutions help organisations control costs, reduce risks and improve customer service through the minimisation of payment errors. Experian Payments has over 1,000 customers across all sectors of industry and commerce. Experian Payments is a division of Experian.

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Homeowners Insurance Rate Quotes Explained

When it comes to saving money on insurance, consumers may want to utilize homeowners insurance quotes. Applying to receive homeowners insurance rate quotes is free, fast and easy to do. But homeowners must first learn just what homeowners insurance rate quotes are, and where they can find them.

Homeowners Insurance Rate Quotes Explained

According to a newly published article on InsuranceAgents.com, some shoppers who are unused to using quotes are surprised to learn the quote is not exactly what they pay.

“A homeowners insurance rate quote is an estimate from the insurance carrier to the potential policyholder. Shoppers should keep in mind that the quote is nonbinding; its purpose is to reflect the general price range that a person applying for coverage might pay,” the article, What Is a Homeowners Insurance Rate Quote? states. “However, the final premium the shopper ends up paying usually isn’t a drastic difference from the homeowners insurance rate quote they were offered.”

Time is of the essence: with rates rising across the country, homeowners can’t afford to stall saving money on their coverage any longer. The first step to saving money and finding home insurance quotes is to know where to look.

Homeowners can find quotes online, by talking face-to-face to an agent, or receiving them from insurance companies/offices/agents over the phone. InsuranceAgents.com, however, recommends finding the insurance quotes online because of its ease and efficiency.

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Fake Injuries Are On The Increase

LV= car insurance has reported that GPs have seen an increase in the number of people feigning injury in order to claim compensation. The research conducted among GPs has revealed that 65% of doctors have seen an increase in the number of attempts to make a fraudulent injury claim over the past ten years, with almost one in four reporting a surge since the recession began.

Fake Injuries Are On The Increase

The LV= research reveals a 25% rise in personal injury claims over the past six years, costing the NHS £8m in consultation fees every year and the insurance industry nearly £2bn in compensation payments*.

The most commonly attempted personal injury fraud is whiplash, which has a significant impact on car insurance costs, estimated at 20% of everyone’s premium*. The insurance industry is working closely with the medical profession to ensure that legitimate claims are supported whilst weeding out any false claims.

Doctors have also reported cases of people trying to fake post-traumatic stress and depression as ways of fraudulently claiming compensation.

The UK has twice the number of whiplash injuries reported compared with the rest of Europe* and the medical profession is becoming more wary of people attempting to make fraudulent claims. 49% of GPs said they are now more likely to scrutinise patients ‘injuries’ where compensation could be gained, and 36% said they are now less likely to write a letter to support a claim.

Dr Harry Brunjes, Chairman of LV=’s medical advice provider, Premier Medical Group commented: “The medical profession always has been, but is increasingly sensitive to individuals who could potentially defraud their employer or insurer as a result of exaggeration or even fabrication of clinical signs and symptoms.”

Although the vast majority of GPs said the increase in faked injuries was driven by people trying to get compensation [AU1]other common reasons cited included people trying to get time off work (66%), the ‘blame’ culture that exists in the UK (70%), because they are hypochondriacs (13%) or simply because they want attention (31%).

Martin Milliner, head of claims at LV= car insurance, said: “Clearly anyone who has a genuine injury as a result of an accident that wasn’t their fault, and loses out or can’t work as a result of it, is entitled to compensation. However anyone trying to get money for an injury that doesn’t exist is not only breaking the law but also wasting valuable NHS time and resources. We would urge any GP who has doubts about someone reporting an injury to investigate further to ensure that it is genuine.

“People may see making up an injury as a result of a car accident as a harmless crime and a quick way to make money, but if they are allowed to get away with it all car insurance premiums would be pushed up which is unfair on the honest motorist.” Anyone found guilty of making a fraudulent claim will also have a criminal record, could lose their job and could go to prison for three years or more, according to the official Sentencing Guidelines Council guidance.

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AAA Auto Insurance Services Review

A name that is trusted among most drivers is AAA Auto Insurance. And as one of the oldest American insurers, AAA also provides road side assistance in addition to offering auto insurance. For many drivers, AAA may be able to provide more affordable and quality services—a valuable commodity these days.

AAA Auto Insurance Services Review

A newly published article on InsuranceAgents.com, “AAA Auto Insurance: Not Just Great Coverage,” encourages drivers and motorists to evaluate the advantages of working with AAA, an all-service auto insurance provider.

Recent reports show more and more drivers are dropping their expensive auto insurance, suspending regular vehicle checks and tune-ups, and avoiding costly roadside assistance, in an effort to save money and make ends meet. But instead of paying several garages high bills, it may be more affordable to invest in one all-service company like AAA Auto Insurance.

Doing business with AAA Auto Insurance will provide drivers with the ability to properly insure their vehicles as well as receive multiple roadside services.

“[AAA Roadside Assistance] was implemented by AAA auto insurance in 1915 as a response to car breakdowns plaguing drivers all over the country. Nearly 100 years later, car breakdowns are still common and AAA boasts more than 30 million members to their program,” the article states.

Roadside assistance from AAA auto insurance includes:

• Battery service
• Tire service
• First aid for your car (minor adjustments, parts or supplies)
• Towing service
• Lock out service (in case you lock your keys in your car)
• Fuel delivery

In addition to insurance and roadside assistance, there are plenty of other services offered by AAA auto insurance. To learn more about AAA, contact your local branch and speak with a AAA auto insurance agent.

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Driving Record can Make or Break Car Insurance Quotes

Do you have a copy of your driving record? If not, maybe it’s time you got one. Knowing what your driving record looks like can help you be a more conscious driver on the road. And as any good insurance agent knows, cautious drivers are more likely to pay less for their car insurance, according to an article on InsuranceAgents.com.

Driving Record can Make or Break Car Insurance Quotes

Hundreds of thousands of jobs across the country were cut again in the last month. Many households are living on a severely reduced income, and saving money seems to be becoming a full-time job all its own. But don’t drop your auto insurance policy to save money—instead, try to find a more affordable plan. And to do that, you should keep a copy of your driving record, to see where improvements can be made.

A responsible driver—whose goal is to keep their auto insurance as affordable as possible—checks their driving record at least every 2-3 years (more often if they know they have several violations in one year). The amount you pay for your car insurance policy will be affected by whether or not you have a clean driving record. As such, InsuranceAgents.com encourages drivers to seek a copy of their driving record—a move it says is more than a little convenient to drivers.

“Knowing how many violations are on it or whether you have an ideal driving record is valuable knowledge,” according to the InsuranceAgents.com article, ‘Reviewing Your Personal Driving Record.’ “If you’ve got a clean record, you should be sure to alert your car insurance agent so you can get a reduction on your auto insurance premium. On the flip side, if you find that you’ve got many violations on your driving record, you can proceed by taking steps to clean your record and/or learn better driving habits.”

A copy of your record can be found at your DMV, on the Web, or with your car insurance carrier. Having the knowledge provided by your record can be very useful when you are looking to lower your car insurance premium, or find more affordable rates by requesting auto insurance quotes.

Once you know what kind of driver your record reflects to your DMV and your car insurance carrier, you can start the search for more affordable car insurance by shopping online for car insurance quotes.

“If your current carrier is charging you too much for your policy—perhaps due to some infractions on your driving record—then you may want to consider finding a different policy, ask various car insurance agents, they may be able to help. Perhaps another carrier can offer you more affordable car insurance quotes and policies for your driving record,” suggests the article by InsuranceAgents.com.

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New InsuranceAgents.com Article Discusses Nationwide Condo Insurance And What Makes It One Of The Best


New InsuranceAgents.com Article Discusses Nationwide Condo Insurance And What Makes It One Of The Best

With a wide array of insurance policies available for condominium owners, insurance companies are going the extra mile to stand out from the pack. Since 1926, Nationwide has grown into one of the largest insurance companies in the world and is now one of the leading sellers of condo insurance.

While companies such as State Farm, Allstate, Progressive and GEICO only offer basic protection for condominium owners, Nationwide makes sure its customers receive maximum protection. In the event of an unfortunate circumstance such as a fire, burglary or even windstorm, Nationwide assures its customers’ personal possessions will be covered.

“Nationwide condo insurance offers unique coverage options for its customers,” according to the article on InsuranceAgents.com, Nationwide Condo Insurance: Why Are They a Top Contender? “Most condo policies offer basic protection, but Nationwide goes the extra mile to tailor a policy that is convenient for you.”

In addition to providing customers with personal liability coverage, which protects them against any claims filed against them, Nationwide also offers special discounts that only its customers can benefit from.

“With Nationwide, you can benefit from deals on fire and ultrasonic burglar alarms, fire extinguishers and locks on all exterior passageways,” according to the InsuranceAgents.com article.

By helping customers protect what’s most important to them, Nationwide has persuaded many condominium owners to put their trust into the Columbus, Ohio, company. If you want to become a Nationwide customer today, go online or visit your local Nationwide agent to gain more information.

Visit InsuranceAgents.com for expert articles and condo insurance quotes from up to 5 local insurance agents.

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According To A New Research Dads Worth An Additional £17,000 To Families

According to new research by the leading Child Trust Fund (CTF) provider, The Children’s Mutual, today’s dads undertake a wide variety of tasks in and around the home, such as cooking, assembling toys, acting as the children’s taxi service, doing the school run, organising family finances and doing DIY. This unpaid work is worth up to £17,000 a year, and is on top of the contribution to family life that a working dad’s salary provides.

It is the children that really benefit from dad’s helping hand, as their number one activity during the week is spending time with their children (4hrs6mins). This is followed by cooking (3hrs19mins), DIY (3hrs11mins) and arranging family finances (3hrs9mins).

David White, Chief Executive of The Children’s Mutual, said: “Dads play such an important role within the home and in the lives of their children – our calculations show the additional monetary value that dads now have around the home, quite apart from the emotional value that they have, supporting their partner and children. It’s great that looking after their children is so high on dad’s agendas, but it’s also really encouraging to see just how high up arranging the family finances are.

“Even in the current climate, dads are still looking to the future with 23% of working dads saying that saving for their children’s futures is a top priority. Currently 57% are working on this by trying to save what they can regularly. Contributing towards a CTF is one of the ways dads can save for their children’s futures. By saving regularly, and over the long-term, dads can help to give their children a financial springboard into adulthood that could be worth up to £37,100 when they reach age 18. This could be a massive help towards the cost of university or a deposit for their first home”.

Child Trust Funds are designed to provide a tax efficient, long term savings vehicle for all eligible young children. Each eligible newborn child (born on or after 1 September 2002) receives £250 (£500 for low income families) from the Government when their parents register for Child Benefit. The Government will make a second contribution of £250 (£500 for low income families) when the child reaches seven and is considering a third in the child’s teenage years. Parents, family and friends can all then add to this account up to a maximum value of £1,200 each year. The Government’s preferred option is a Stakeholder Child Trust Fund account which is subject to strict guidelines governing investment type and charges. The Child Trust Fund provider manages the account until it matures and becomes available to the child when they are 18.

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St Peter Port Capital Limited, An AIM Listed Investment Company Announces Its Preliminary Results For Its Second Year Of Investment

St Peter Port Capital Limited (the “Company” or “St Peter Port”), the AIM listed investment company whose aim is to generate value by investing predominantly in growth companies shortly before an initial public offering (“IPO”) or other exit event, announces its preliminary results for its second year of investment..

St Peter Port Capital Limited

Highlights

• 36 investee companies at year end

• realised to date, £22.5m in cash f r o m investee companies, generating a gain on investment of 39%

• following the year end, a further £5.67m invested in five companies, two of which are new to the portfolio

• NAV of 105.6p per share, up 3.1% over the year

• profit of £877,000 (2008: £3.69m), eps of 1.2p (2008: 4.9p)

Bob Morton, Chairman of St Peter Port, said:
“I am pleased to report that the Company has weathered the storm and maintained the net a s s e t value of the portfolio. We believe that many of the companies within the portfolio have considerable upside potential in a portfolio of high risk/high reward companies.”

Tim Childs, Chief Executive of St Peter Port Investment Management Limited, said:
“As at the 14 July 2009, we had £16.6m to invest in new opportunities and follow-on investments. Competition is limited and we are therefore being offered these on attractive terms.”

St Peter Port Capital Limited floated on AIM on 16 April 2007, raising £75m in new equity. The Company is a Guernsey registered closed-ended investment company. The Company’s objective is to achieve returns f r o m the uplift on or shortly after IPO, but the exit f r o m the investment could also be a trade sale. The universe for investment is principally companies across a broad range of sectors and geography expecting to conduct an IPO or achieve a trade sale or other liquidity event in the months after the Company’s investment. However, in current conditions, it may also include companies which are already public whose value is not properly recognised by stock markets. The initial focus is on companies targeting UK, US and Commonwealth stock markets although pre-IPO companies looking to float on other exchanges will also be considered. The Company appointed St Peter Port Investment Management Limited, a joint venture between Broughton Investments Group Limited (“Broughton”), a company in which Tim Childs is interested, and Shore Capital Limited (“Shore Capital”), the absolute return fund management specialist which currently manages approximately £1.4 billion, to act as its investment manager (“the Investment Manager”).

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Chairman’s Statement

Introduction

Although our second year of investment was a year of unprecedented difficulty for financial markets around the world, I am pleased to report that the Company has weathered this storm well. It has maintained the net a s s e t value of its portfolio which includes a number of companies with considerable upside potential.

Investment Environment and Portfolio Composition

St Peter Port was relatively fully invested at the start of 2008/9, having invested most of the funds raised at flotation in the previous year. A number of companies in which we had invested were coming to market shortly or otherwise close to a liquidity event such as a trade sale. The portfolio accumulated in the first year was weighted its towards three sectors: oil and gas exploration and production; mining and resources and renewable energy/clean technology, reflecting suitable opportunities which had been identified for St Peter Port’s strategy. At the start of 2008/9 St Peter Port held stakes in 41 companies.

During the earlier part of 2008/9, commodity prices remained high, giving rise to a number of flotations and other exit opportunities. Wherever possible, as described in the report below, the Investment Manager took full advantage of these to release cash. Over the same period the Company redeemed nearly all its hedge fund holdings other than one much reduced holding in a third party fund of funds which has staged redemption arrangements. However, after the banking crisis became extreme in September 2008 the opportunities for achieving exits vanished and only began tentatively to return since the year end.

Given the extent of the turmoil in financial markets, and its impact on the global economy, the Company refrained f r o m making any further investments in the second half of 2008/9. This reflected the conditions for a number of months in which markets – were unable to find any sort of equilibrium.

Investments and Realisations during the Year

During the first half of 2008/9, the Company invested a further £14.9m in nine companies, two of the investments being follow-ons. The focus of these investments shifted f r o m a possible exit through flotation to investments where there was a credible expectation of a liquidity event in any form within a relatively short period, such as a trade sale or repayment of a loan.

To date the Company has realised over £22.5 million through disposals (over £22 million in 2008/9), generating a gain on investment of 39 per cent. This was largely derived f r o m six investments which were wholly or substantially realised during the year and one other which was partially realised.

Share Buy-Back

Shortly before the year end the Company bought back 1.95m of its own shares at 30p per share. These shares are currently being held in treasury. As discussed below, the effect of this buy-back was to enhance net a s s e t value per share.

Basis of Valuation for Financial Results

Determining the Company’s financial results for the year is an exercise largely dependent on an assessment of the fair value of each investment held. Where investments are now quoted, there is an external basis for determining fair value and we have valued holdings at the bid price of the shares. Where this is not available IFRS rules require us to select a fair value.

Values of our oil and gas and resource stocks are influenced by a number of factors, including company progress, exchange rates and commodity prices. Where we have invested in a mining or petroleum project, when the company receives positive results f r o m drilling geological investigation this should lead to a rise in value. We report in sterling but many of our investments were made in foreign currency. Even where this was not the case, the value of the investment is frequently determined by reference to dollar values rather than sterling. We have also taken account of any pre-defined uplift on a liquidity event; in some cases we have written investments down heavily and in others written them up.

Financial Results

The Company made a profit in the year of £877,000 (2007/8: £3.69m), generating earnings per share of 1.2p (2007/8: 4.9p). Income arose largely f r o m the net gains in fair value of investments of £2.51m (2007/8: £4.57m).

Net a s s e t s at year end were largely unchanged f r o m the previous year at £77.13m (31 March 2008: £76.84m). However, net a s s e t value per share increased by 3.1 per cent to 105.58p (31 March 2008: 102.45p), largely as a result of the share buy-back.

Balance Sheet

As at 31 March 2009, the Company held £54.3m in investments in companies, being equity investments and loan instruments (31 March 2008: £55.9m). Nearly all of the remaining balance sheet was in cash, £22.6m (31 March 2008: £12.5m – including commercial paper), the principal difference being that £8.7m was held in hedge funds at 31 March 2008, which was reduced to £130,000 at the year end.

Activity since the Year End

Since the year end conditions have become more stable and the Company has resumed making new investments, described below in the Investment Manager’s report. Three of these investments are follow-ons into companies in which we were already shareholders and the other two are new investments. The pricing of each of these reflects the depressed market conditions which currently prevail and offer the prospects of significant uplifts on exit.

As a result of these investments since the year end, the Company, as at the 14 July 2009, held £16.6m in cash and available for investment. We therefore have the cash to cherry pick f r o m the best of our existing portfolio and new opportunities at a time when many potential participants are illiquid.

The investment climate has become less volatile and commodity prices have recovered substantially since their lows around the turn of 2008. Competition in our area f r o m other funders is limited. We believe that many of the companies within the portfolio have considerable upside potential in a portfolio of high risk/high reward companies. The Board views the future with confidence.

Bob Morton
Chairman

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Assets, Bonds, Financial, Financial Services, Financial Solutions, Funding, Interest Rate, Loans, Money, Stocks

Securities Based Funding, Inc. Announces A Unique Financing Advantage To Borrowers Against The Value Of Their Securities Portfolio

Securities Based Funding, Inc. announces a unique financing advantage to borrowers against the value of their securities portfolio at below-market, simple interest, fixed rate loans ranging from 2.5% to 4.5%. These non-recourse loans will assist buyers, sellers and developers of properties worldwide. The loan proceeds can be used for any purpose except to buy securities or carry securities in a margin account.

Securities Based Funding, Inc.

Despite the credit crunch and while access to liquidity through traditional capital markets is difficult in today’s uncertain economy, security-based loans enable borrowers to access liquidity at below-market rates by pledging the securities they own as collateral for the loan.

Eligible securities are publicly trades stocks, bonds, tradable mutual funds, unit investment and real estate investment trusts as well as foreign positions on international exchanges. Ineligible securities include, privately held stocks, securities held in retirement accounts, such as, IRAs and 401Ks. The borrower retains all upside market appreciation and receives any dividends or interest to which the securities are entitled. Loan to security values (LTV) range from 35% up to 80%. The more liquid and actively trades the securities, the higher the LTV.

Securities Based Funding, Inc. represents a full-service, private, nonpurpose, direct lender that specializes in securities-based lending with investors in need of prompt funding. Terms are based on the evaluation of the risk and future performance associated with the stocks, bonds or U.S. Treasuries to be pledged as collateral to maximize and maintain complete yet proprietary flexibility of the equity-loan process.

Successful stock-lending transactions have been executed involving the American Stock Exchange, NASDAQ National Stock Market, NASDAQ Small-Cap Stock market, New York Stock Exchange, Over-the-Counter Bulletin Board and foreign exchanges.

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Students Are Struggling To Fly The Nest, Reveals Lloyds TSB Student Banking

A survey by Lloyds TSB Student Banking has shown that almost half (47%) of young people starting university degrees this autumn believe they will be the most financially disadvantaged students for many generations.

Students Are Struggling To Fly The Nest

The survey of more than 1000 17-25 year olds who plan to go to university this year showed that those going into higher education have a bleak outlook on the financial costs of the course. Almost one third (31%) of those questioned said they thought that the costs of going to university would soon outweigh the benefits of a degree.

The same percentage – up from 27% in 2008 – is looking to stay at home to save money, meaning they will miss out on their first taste of independent living. The Lloyds TSB Student Banking research also revealed that almost a quarter (24%) of students believes that getting into debt while they study debt is inevitable because of the state of the economy. To compound their fears, one in five (20%) believes that it will be difficult to find a job after graduation.

Catherine McGrath, director of current accounts at Lloyds TSB, said: “It’s no surprise that in the current economic climate young people are thinking about how their university career will affect them financially and are considering the ways to make their money work harder.

“It’s important that students-to-be concentrate on their studies and don’t spend unnecessary time worrying about the future. Therefore picking the right bank accounts, using sound money management techniques and considering part-time work are all important steps that will help students manage their finances during their degree course.”

Although the majority students-to-be said that they relished the opportunity to manage their own money, more than a quarter (28%) of potential freshers admitted to being worried about managing their own finances, with 25% saying that they hadn’t received any financial guidance in advance of starting their course.

Independent financial expert, Alvin Hall, commented: “The current economic climate is very daunting for young people, many of whom may be wondering whether spending money on their education really is the best bet.

“Young people need to remember that a degree is an investment in themselves and that sometimes it takes a while for that investment to pay off. In the meantime, they need to do everything in their power to make every penny count and ensure that, when they are standing on their own two feet as graduates, they can look back on their studying and spending without regrets.”

About Lloyds TSB:
Lloyds TSB offers customers a wide range of current accounts, savings accounts, insurance, student accounts and credit cards, investment and cash ISA accounts designed to meet different customers’ needs.

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Equity Mix Remains Top Choice For Pension Investments

Prudential has reported that more than one in three people retiring within the next 10 years say they would prefer their pension to be invested partly in the stock market and the remainder in other types of investments, according to new research*.

Equity Mix

The nationwide study shows that consumer confidence in the stock market continues despite recent market and economic upheavals.

Prudential asked 1002 men aged 55 to 64 and women aged 50 to 59 who have a pension how they would want their pension fund invested if they could choose:

– 35% said partly in the stock market and the remainder in other investments (40% men, 29% women)
– 29% said only in cash or very low-risk investments (29% men, 30% women)
– 22% said they did not know (18% men, 28% women)

Since the FTSE 100 index of leading shares hit a five-year low of 3530 in the week of 2nd March this year, it has climbed back up. Currently the FTSE is at 4615 w/c 27 July 2009, compared to 4413 w/c 26 July 2008 so is 202 points higher than this time five years ago.**

Andy Brown, Prudential’s director of investment funds, said: “Despite immense volatility in the stock market over the past year or so, there is still evidence of consumer confidence in equities to deliver a promising return for pension investments over the long-term.

“What is certain as well is that many people have been spooked by the recent economic maelstrom and, unsurprisingly, would prefer their pension to be in cash or lower risk investments as they near retirement.

“We’ve seen a marked increase in the numbers of people looking for a home for their money which they can trust, knowing that it has a solid capital base and a long-standing history which will stand it in good stead for the future.

“I think investors can feel confident in stock market opportunities if they are given a decent choice in how they access real assets such as the equity market. Investors can really capitalise on the markets if they can access funds across a number of asset classes and sectors from a range of different investment managers allowing diversification across assets and manager styles.”

* Survey conducted by Research Plus among 1,002 UK males aged 55-64 and UK females aged 50-59 between 23 and 30 April 2009 using an online methodology
** Source: Yahoo finance FTSE 100 charts – correct as at date of issue: 27th July 2009

About Prudential:
“Prudential” is a trading name of The Prudential Assurance Company Limited, which is registered in England and Wales. This name is also used by other companies within the Prudential Group, which between them provide a range of financial products including life assurance, savings and investment products, such as a bond investment and pensions, including advice on company pensions.

Registered Office at Laurence Pountney Hill, London EC4R 0HH. Registered number 15454. Authorised and regulated by the Financial Services Authority.

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National Savings And Investments, The Government-Backed Savings And Investments Provider, Today Announced Its Annual Results For The Year To 31 March 2009 And For The First Quarter Of 2009-10

Highlights for the financial year for year ending 31 March 2009 included net financing of £12.5 billion – against a revised November 2008 forecast of £11 billion (within a range of £2 billion either side) – due to unsolicited savings deposits following the ‘flight to safety’ which began in mid-September last year and making sales of £8.5 billion through premium bonds – an increase of almost £2 billion from the previous year.

The ‘flight to safety’ is now over and NS&I is operating in a more challenging savings environment; however, the focus remains on balancing the interests of savers, the taxpayer and supporting stability in the wider financial services marketplace by maintaining an appropriate competitive position

Jane Platt, NS&I’s chief executive, said: “The global financial crisis, which began last September, meant that demand for our products increased dramatically despite us cancelling all discretionary marketing and led to us delivering £12.5 billion of net financing last year. I’m proud of the way the teams at our operations centres responded to this challenge and helped to ensure we remained open for business and maintained our high customer service standards, in spite of the unsolicited inflows of money.

“As the Bank of England base rate continued to fall rapidly and financial markets remained unusually volatile, we agreed with HM Treasury that NS&I’s Value Add target for 2008-09 would be temporarily suspended and no target set for the coming year. Our decision-making is now driven by the need to maintain a balance between offering a fair rate to our customers, delivering cost-effective finance to Government, and the need to support stability across the wider financial services marketplace by maintaining an appropriate competitive position.”

NS&I’s Annual Report and Accounts 2008-09 were presented to the House of Commons on 15 July 2009, pursuant to section 7 of the Government Resources and Accounts Act 2000.

About NS&I
NS&I is one of the UK’s largest financial providers with almost 27 million customers and over £94 billion invested. It is best known for premium bonds, but also offers inflation-beating savings accounts, guaranteed equity bonds and guaranteed growth bonds in its range. All products offer 100% security, because NS&I is backed by HM Treasury.

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The British Public, Which Has Been So Severely Hit By The Economic Recession And The Crumbling Sterling Exchange Rate, Is Turning To Campervans And Motorhomes As Both A Cheap And Fun Alternative To The Foreign Holidays They Would Normally Have

The old VW Campervan, so beloved of hippies in the 1960s, is making a big comeback. The British public, which has been so severely hit by the economic recession and the crumbling sterling exchange rate, is turning to campervans and motorhomes as both a cheap and fun alternative to the foreign holidays they would normally have.

Holidays abroad are becoming increasingly expensive. The pound has lost a third of its value overseas in the last year, and Spain, which is probably one of the most popular destinations for holidaying Brits, has suffered inflation running at 14% for the last few years and is now more expensive to visit than Blackpool or Southend.

A spokesman for Staveley Head, one of the UK’s leading motorhome insurance providers, said “This time of year is always a busy period for campervan insurance enquiries, but this year we are experiencing an unprecedented number both on the internet and by telephone. People are finding it more financially viable to buy a used campervan or motorhome and have several holidays touring the UK than to spend the same amount of money on one big continental blow-out. And it’s not just the bottom end of the market that’s active. More and more people are buying the larger American style motorhomes which offer virtually all the facilities you can find in a hotel.”

Another advantage of the motorhome is that it easily accommodates the spontaneous holiday or long weekend that everyone wants when the British sun decides to shine. No last minute planning needed with a campervan , no airport delays or travellers cheques needed – just get in it and drive. How many people sleeping under canvas and wallowing in the mud at the Glastonbury Festival wished for a campervan.

The Staveley Head spokesman went on to say “It isn’t only motorhome insurance where we are seeing a substantial increase in activity. Caravans, both statics and tourers, appear to be increasingly popular this year. And the volume of caravan insurance policies we have issued in recent weeks is far exceeds the same period last year.”

Staveley Head is one of the country’s leading motorhome insurance brokers and will give you all the advice and assistance you need regarding this matter, including a very competitive campervan insurance quote, if you log onto their website at http://www.staveleyhead.co.uk You can also compare caravan insurance quotes and even take out motorhome insurance online.

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