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Financial Market Disruption And The UK Economy
2008-02-05 12:56:00 This month the Deputy Governor of the Bank of England, Sir John Gieve, gave a speech outlining his thoughts on the recent financial market disruption and the ongoing impact it is having on the UK economy. He also expressed his thoughts on the immediate inflation pressures stemming from the growing prices of both energy and food. More About: Economy , Market , Financial
House Prices On The Decline
2008-02-05 12:30:00 December 2007 marked the beginning of the downward trend in property prices when the average house price fell by 0.4%. Despite slight price increases in 3 individual regions of England and Wales, the recent fall in overall UK property prices was said to be the first drop the Land Registry has actually recorded since August 2005. Economists have taken this decline to be a clear indication of a weakening within the property market. More About: House , House Prices , Prices
Will Personal Insolvencies Rise As Spending Surpasses Average Income?
2008-02-05 12:04:00 A recent survey, carried out by financial researchers, has produced figures showing that 1 in 10 Brits are spending more than their wages permit. Furthermore, of the 4,200 surveyed, almost 20% are leaving themselves short at the end of the month relying on overdraft facilities and credit cards to bail them out in order to keep on top of monthly bills and expenses. More About: Personal , Income , Spending , Rise , Average
Will The Bank Of England Cut The Base Rate In February?
2008-02-04 12:50:00 The next meeting of the Monetary Policy Committee, where discussions will take place as to whether or not a further cut in the base rate is on the cards, is still set for February 6-7th. Despite the Federal Reserve's announcement on January 22nd of an emergency 75 basis point rate cut, there have been no plans to bring the MPC meeting forward. More About: England , Bank , Bank of England , Rate , Base
Deadline Day For Northern Rock Bids
2008-02-04 12:17:00 This Monday, 4th February, marks the deadline set by the government for all interested buyers to make their final offers in the running of the Northern Rock takeover bid. More About: Deadline , Northern Rock
Egg Set to Cancel Credit Cards of Risky Customers
2008-02-04 09:16:00 Recent action taken by Egg to withdraw credit cards from customers they consider 'too risky' has caused quite a stir since the decision was announced. More About: Credit Cards , Credit , Customers , Cards
Bank of England Will Not Save City Jobs
2008-02-01 09:44:00 Hundreds of Citigroup's London investment banking team staff are let go as fears intensified as US announces they are officially in a recession. The Centre for Economics and Business Research (CEBR) expects 8,000 City job losses in 2008, a 20 percent increase on their forecast in October, according to Times. More About: England , Jobs , Bank , Save
Brits Rush Into Mortgages
2008-02-01 09:29:00 A recent survey by Fool.co.uk reveals that the average UK homeowner spent five hours selecting their mortgage, with only 21 percent spending more than ten hours to make their decision, and 38 percent take the easiest option and stick with their current provider despite high interest rates, longer terms, and the increased risk of insolvency. More About: Mortgages , Rush , Brits , Ages
PPI Profits Sustain Personal Loan Market
2008-02-01 09:10:00 Payment Protection Insurance (PPI) has been shown by the Competition Commission to make massive profits for its sellers. The controversial insurance can make lenders a return on their costs by 982%, according to the watchdog. A policy that costs just £20 to provide could net the provider £1,200. More About: Personal , Market , Loan , Profits
Debt Burden Stats Are Optimistic
2008-01-31 09:13:00 The Bank of England's figures report that the total UK personal debt at the end of November 2007 was £1.4 trillion, a 9.5% increase over the previous year. Credit borrowing, both on credit cards and unsecured personal loans, increased by 5.7% to £223bn while outstanding mortgage debt climbed more than a tenth to £1.17trn. Savings fell from 4% to 3.4%. More About: Debt , Stats
Darling Working To Protect Consumers
2008-01-31 09:00:00 Darling responded with caution when asked by MPs how he and Prime Minister Gordon Brown plan to improve stability and transparency in the global financial system. The move to increase FSA powers will protect consumers' mortgages and savings. More About: Darling , Working , Consumers
More People Live In Fear Of Bankruptcy Or Repossession
2008-01-31 08:38:00 Rising mortgages costs, the credit crunch, and increasing inflation is putting pressure on homeowners, and nearly three million are afraid that they may lose their homes to repossession this year. There is apparently a "frenzy of fear" among consumers, according to a new study. More About: People , Live , Bankruptcy , Fear
CCCS Prepares For Recession
2008-01-30 08:58:00 The Consumer Credit Counselling Service (CCCS) debt charity, and the Council of Mortgage Lenders recently launched a "repossession" counselling service, according to a recent press release from CCCS. More About: Recession
Unemployment Rates Reassure UK Economists
2008-01-30 08:47:00 Amid the turmoil in the worldwide stock markets, and bank losses, the job market in the UK has been positive. The latest data showed that the UK is enjoying the largest increase in the number of jobs in 11 years. The number unemployed and those claiming unemployment benefits fell consistently for the last 15 months. This is the longest stretch of declines since June 2003, and resulted in the lowest unemployment rate since 1975, according to a report by Guardian Unlimited. More About: Unemployment , Rates , Economists
0% Cards Can Come With A Sting
2008-01-30 08:31:00 Come the end of January, a million people in the UK will have transferred their credit card balance to a new provider in an attempt to keep on top their finances. Research by Abbey suggests that the average amount transferred will be £2,666. More About: Sting , Cards
Economists Warn ?Don?t Panic?
2008-01-29 09:19:00 UK consumers are warned not to panic amid fears of instability in the world markets, according to Hamish McRae, one of Europe's leading futurists, author, Business and Finance Journalist of 2006, and economic commentator of "The Independent." More About: Panic , Economists
UK Home Owners Can Save By Remortgaging
2008-01-29 09:02:00 UK Mortgage holders waste £25 million a day because they do not remortgage. Five million homeowners pay £5 a day more than necessary by holding their uncompetitive loans, according to a recent report by Abbey Mortgages. More About: Home , Save , Owners
Life Insurance Should Be Simple
2008-01-29 08:33:00 Life insurance should be fairly straightforward, paying out a specific amount when you die. It is not health-related, and it pays out on a single criterion: whether you're dead or alive. Although that should mean that policies are broadly similar, there are actually three types of life insurance you can buy. More About: Life , Insurance , Life Insurance , Simple
Will US Recession Hit The UK?
2008-01-28 09:18:00 NASDAQ has experienced more than a week long slide. Now companies such as Apple and Google are experiencing losses of several points. This US recession is affecting countries around the world. The Canadian Stock Exchange lost half a trillion in one day, with the Chinese Stock Exchange suffering worse losses the same day. More About: Recession
Darling Must Restore Consumer Confidence
2008-01-28 09:01:00 Darling recently told MPs that he is giving the FSA more powers to protect consumers savings, but not at the risk of over-regulating the financial industry. More About: Consumer , Confidence , Restore , Darling
Mortgage Approvals Down
2008-01-28 08:38:00 Mortgages approved by major banks fell to a record low number in December. The figures, issued by the British Bankers' Association (BBA), showed that only 42,088 new loans were approved for house purchases in the month - the lowest number since the BBA started recording in 1997, and 38% lower than in December 2006. More About: Mortgage
Lending Criteria Tightening
2008-01-25 11:30:00 Saving for a deposit is the toughest hurdle for first-time buyers, according to financial data provider Moneyfacts as banks increase their minimum deposit from 5 percent to 10 percent. Those mortgage lenders who offered higher than 100 percent have now dropped their LTV to 95 percent. More About: Lending , Criteria
IMLA Paints A Positive Picture For 2008 Economy
2008-01-25 11:19:00 The overwhelming mass of negative housing and mortgage market predictions for 2008 , is worrying The Intermediary Mortgage Lenders Association (IMLA). They report that this 'doom and gloom' forecasting can spiral out of control weakening consumer confidence, and causing the recession to escalate. More About: Economy , Picture , Paints , Positive
The Government?s Northern Rock Proposals
2008-01-25 11:02:00 Monday's Government proposals for Northern Rock 's rescue package sent the ailing bank's shares up by almost 50%, as news that the UK taxpayer is to support the bank to £25bn for up to five years came through. More About: Northern Rock
Good News For Homeowners
2008-01-24 10:07:00 The falling house price market is good news for some UK homeowners, according to a recent publication by Guardian Unlimited. More About: News , Good News , Good , Homeowners
Home Buyers Need Government Help
2008-01-24 10:07:00 Stroud & Swindon commercial director Paul Chafer says that many UK adults do not consider the tax burden faced by their property. This is true of both current and potential house buyers. The Stroud & Swindon report states that forty-two percent of those planning to buy a property have no idea how they will raise the cash for the stamp duty land tax, according to research by Stroud & Swindon. More About: Government , Home Buyers , Home , Buyers
Bank Charge Case To Go On For Weeks
2008-01-24 10:05:00 The High Court has been told that current account customers are comfortable with the system of charges in place at the moment under which they only pay when they get into the red. More About: Charge , Case , Bank , Weeks
What Did The RICs Report Really Say?
2008-01-23 11:43:00 The media has pulled a few key statements from the Royal Institution of Chartered Surveyors (RICS) recent report. This is leading to confusion and panic in several published reports. However, a visit to the RICS website reveals a more optimistic outlook for UK mortgage holders. More About: Report
First Time Buyers Desperate For Relief
2008-01-23 11:26:00 Homeowners are plagued by high house prices and high interest rates. Many first time homebuyers are 'on the knife edge of poverty' says BBC News. More About: Time , Relief , Buyers , First Time , Desperate
Mortgages Under 5% Again
More articles from this author:2008-01-23 11:08:00 It seems that the news is always bad these days for homeowners and would-be first time buyers. However, there may be a glimmer of hope. More About: Mortgages , Mort , Ages 1, 2, 3, 4, 5, 6, 7 |
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