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2008 Offers Fewer Mortgage Choices
2008-01-22 10:42:00 Mortgage and Loan borrowers are finding their choices limited as lenders discontinue many of the 'buy now pay later' products of 2007, according to a report from Moneyfacts. More About: Mortgage , Offers , Choices , 2008 , Mort
Cameron To Fight Poverty
2008-01-22 10:23:00 The Tory leader, David Cameron , is determined to wipe out poverty, according to recent statements he made concerning the current government. Mr. Cameron has made recent pledges to cut taxes in an attempt to fight poverty. More About: Fight , Poverty
Mortgage Endowment Pay-Outs Down Again
2008-01-22 10:00:00 Mortgage endowments were very popular in the late 1980s and early 1990s, being sold on the belief of doubtful figures and promises to homebuyers. Unfortunately most of the financial salesmen of the time had their own commissions in mind rather than the future welfare of their clients. More About: Mortgage , Mort
Housing Market Hits Low
2008-01-21 11:48:00 The housing market has hit its lowest level since the recession of 1990. The economic panic, a result of last fall's credit crunch, looks grim. This is putting pressure on the Bank of England to cut interest rates at its February meeting, according to Forbes. More About: Market , Housing , Hits
UK Homeowners Do Not Need To Worry
2008-01-21 11:27:00 Not everyone is in a panic, despite the fact that the UK housing market hit its lowest point since November 1992. Mr Kuo from fool.com said that data from the Royal Institution of Chartered Surveyors (RICS) is confusing mortgage borrowers. More About: Worry , Homeowners
Mortgage Outlook
2008-01-21 11:08:00 There seems previous little good news in the mortgage market these days. House prices are falling, which will reduce equity in people's homes, mortgages are getting more expensive, and they're harder to come by. More About: Outlook , Mortgage , Mort
Which? Protects Consumers From Unnecessary Fees
2008-01-18 11:02:00 Phil Jones, a campaigner at the consumer group Which? said the banks historically introduce new fees when a revenue stream dries up. He said Which? will remain vigilant and will strive to make public any the banks who plan to recoup their bad-debt losses by introducing new fees to their ?customers in good standing.' More About: Fees , Consumers
Parents Bailing Out Adult Children
2008-01-18 11:01:00 An average of 7.5 million parents given an average of £2,540 to their adult children to help 'bail them out', according to a MoneyExpert.com poll of 2,511 UK adult. Thirteen percent of UK parents gave their children between £5,000 and £20,000. This money is used to buy a car or pay off credit card debts, pay off overdrafts, pay off student loans, and make mortgage payments. Pare nts in the Midlands are most likely to help their adult children whilst those in Scotland are the least likely to help. More About: Children , Adult
Mortgage Market May Be Stronger Than Expected
2008-01-18 11:00:00 The industry has been watching the bank's reluctance to lend mortgages. However, the buy-to-let market is still strong. Investment landlords borrowed 70% of the purchase price during the last quarter of 2007. This is down from 74% in the previous quarter. One in six landlords borrowed less than half of their property's value. The majority of investors bought an existing house or flat in good condition, while 7.5% bought a new property off-plan. More About: Market , Mortgage , Stronger , Mort
Identity Theft Warnings Are Not Unfounded
2008-01-18 10:59:00 Many people fear identity theft but few understand how vital it is to protect their information. Banks are working harder to protect customers, but no one has come up with a fool proof plan as the chairman of Barclays learned. More About: Identity Theft , Theft , Identity , Warnings
Housing Market Looks Bad Says RICS
2008-01-18 10:58:00 House prices are falling at the same rate that they did in the housing market crash of the early 1990s according to the latest survey from the Royal Institution of Chartered Surveyors (RICS). Only further reductions in the base interest rate will avoid a property meltdown, says the surveyor group. More About: Market , Housing , Looks
Economy In For A Rough Ride
2008-01-18 10:55:00 The latest set of figures concerning the British economy do not make for an encouraging read. A dangerous mix of rising factory-gate prices and a collapse in retail demand are not what the Bank of England would like to see. More About: Economy , Ride
Affordable Loans Still Available
2008-01-16 12:02:00 Most banks did not lower their personal loan interest rates when the Bank of England dropped the prime rate in December, 2007. Abbey, Norwich & Peterborough, Northern Rock still have single digit interest rates. Many brokers are able to help people secure affordable personal loans. However, the size of the loan is important according to David Black principal banking consultant at Defaqto. More About: Loans
Debt Industry Preparing To Profit From Recession
2008-01-16 11:50:00 BBC News recently reported that Financial Services Data Management is expanding into new offices at Oldway House in the city centre, creating 200 new jobs. Managing director Matthew Ash said that during the last quarter of 2007 their staff spoke to 10,000 UK adults a week and advised 8,000 more on the debt management options available to them. More About: Industry , Profit , Debt , Recession , Prep
Northern Rock Looks Set To Be Nationalised
2008-01-16 11:36:00 Shareholders of Northern Rock are due to meet this week to try and prevent nationalisation which is looking increasingly like the likely solution. The Government has appointed a senior trouble-shooter from the City to act as chief executive and he will be looking to lead a rescue for the bank which will funded by the UK taxpayer. More About: Northern Rock , Looks
2008 Recession May Already Have Arrived
2008-01-15 19:54:00 Many are wondering if the recession has not already hit as economists lose their fear of making dire predictions. At first, they would only predict oil would go to $100 a barrel, now they predict $175. Goldman recently predicted the recession will hit Australia, the USA, and Japan hard. The National Bureau of Economic Research (NBER) agrees with this, as reported in CNN money. More About: Recession , 2008
BoE Resisting Pressure To Cut Rates In Jan 2008
2008-01-15 19:43:00 The Bank of England is under pressure to cut interest rates for a second time in two months in an attempt to prevent a recession in 2008 . The Bank's Monetary Policy Committee came out of a two-day meeting and announced that they will keep the base rate at 5.5%. Stuart Law, chief executive of property investment company Assetz, says that could bring base-rate tracker mortgages down to 5 percent. Other analysts expect the rate to drop as low as 4.5 percent this year. More About: Rates
Bank Holds The Base Rate At 5.5%
2008-01-15 19:16:00 The Bank of England decided to hold the base rate at 5.5% in January in spite of calls for the cost of borrowing to be reduced. More About: Rate , Base , Holds
Many Britons Hit Struggling With Interest Rates
2008-01-10 10:41:00 Mike Naylor, of uSwitch, said that UK adults with big debts need to take 'urgent steps' to protect themselves. Britons will pay £93billion in interest repayments, up £12.7billion from last year, and forcing many into financial difficulties. More About: Interest Rates , Interest , Rates , Eres , Riton
Demand For Non-Conforming Mortgages Growing
2008-01-10 10:24:00 Demand for non-standard mortgages, a 125 billion pound market, will grow as people's financial circumstances are complicated by the increasing divorce rate, popularity of self-employment, and debt problems, according to a survey of 2000 adults that was published by consumer research group Mintel. More About: Mortgages , Growing , Demand , Conforming , Mort
House Prices Drop £22K In Three Months
2008-01-09 14:13:00 The housing market is slowing, with homes in London dropping £22K in the three months ending December, 2007, according to the Royal Institution of Chartered Surveyors (RICS). More About: House , House Prices , Months , Drop , Prices
CML Is Cautious Over Cross-Border Mortgage Borrowing
2008-01-09 13:38:00 The Council of Mort gage Lenders (CML) welcomed the European Commission's white paper on mortgages, but warns that it may take the wrong focus. The CML believes the best way to foster integration of mortgage markets at this stage is through the removal of barriers to business rather than through focusing on consumer protection measures. More About: Cross , Borrowing
Credit Card Deals 2008
2008-01-09 10:42:00 Following festive spending some consumers can find that they've spent a bit more than they anticipated. One way to keep your bills down is to switch to a cheaper credit card, especially one that offers a period of zero percent interest. Of course, in these days of tightened credit you will need a spotless credit record to get such a card. More About: Credit Cards , Card , Credit , Credit Card , 2008
CML Disappointed With Citizens Advice Report
2008-01-08 12:54:00 The Citizens Advice report, Set up to fail, published December 12, ?is too simplistic in its criticisms of the lending industry?, according to the Council of Mortgage Lenders. More About: Report
Britons Still Struggle From 2006 Christmas Hangover
2008-01-08 12:41:00 A national survey by price comparison website MoneyExpert.com found that one tenth of adults, 4.4m people, are still in the red from 12 months ago. Some consumers are still carrying £1,000 from last Christmas , costing them £169 in interest over the year, at 16.9% interest rate. More About: Hangover , Riton , Brito
FSA To Have More Power To Deal With Failing Banks
2008-01-08 11:50:00 The Financial Services Authority (FSA) is to be given more powers to deal with failing banks by Chancellor Alistair Darling. More About: Power , Banks , Deal
CBI Offers Suggest A Soft Landing
2008-01-07 12:51:00 British business and the City braced as the global credit crunch, weak house prices and soft consumer spending hit the UK economy painting a grim forecast for 2008 with a soft landing in 2009. More About: Offers , Soft , Landing
Bank Of England Fighting Back
2008-01-07 12:33:00 The Bank of England has released £11.4bn of futures at three, six, nine and twelve month maturities in a move to boost the mortgage markets. The lowest rate was 5.36% compared with the current rate from LIBOR at 6.43%. More About: Fighting , Back , Bank of England
Bleak Outlook For UK
2008-01-07 11:49:00 The banks and lenders who have been affected by the credit crunch have inevitably turned it over to their customers to squeeze their credit. It is always the way: the end customer, be it an individual, household or business, ends up carrying the can for the foolish errors of bankers striving to make bigger, faster profits, and taking more risks to do so. More About: Outlook
Slower Housing Market Means Lower Interest Rates
More articles from this author:2008-01-04 11:41:00 Bank of England policy makers cut borrowing costs for the first time in two years on Dec. 6, and said in minutes from the meeting released last month they were concerned about a "more pronounced than expected" slowdown in the housing market, according to Bloomberg.com. More About: Market , Interest Rates , Housing , Interest , Lower 1, 2, 3, 4, 5, 6, 7 |
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