Reclaim cash left in the ATM

James McKeigue rounds up this week’s personal finance news, including a new 95% mortgage, refunds for cash left in the ATM, and why now could be the time to switch banks.

Homeowners looking to move could receive a helping hand from Nationwide, says Emma Wall in The Daily Telegraph. The building society is offering 95% mortgages to those with small equity stakes. The Save to Buy scheme allows customers who deposit £50 a month in a special savings account access to the Save to Buy' mortgage. Previously available only to first-time buyers, the five-year, fixed-rate deal, charging 5.99%, requires a 5% deposit.

The Bank of England says homeowners cut mortgage debt by £8bn in the third quarter of 2012 the 18th successive quarter in which equity levels rose. Analysts say this is due to the current difficulties in releasing equity.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
James McKeigue

James graduated from Keele University with a BA (Hons) in English literature and history, and has a certificate in journalism from the NCTJ. James has worked as a freelance journalist in various Latin American countries.He also had a spell at ITV, as welll as wring for Television Business International and covering the European equity markets for the Forbes.com London bureau. James has travelled extensively in emerging markets, reporting for international energy magazines such as Oil and Gas Investor, and institutional publications such as the Commonwealth Business Environment Report. He is currently the managing editor of LatAm INVESTOR, the UK's only Latin American finance magazine.