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Economic Uncertainty Turns Up Pressure To Cut Interest Rates
2007-12-06 13:37:00 This week the Bank of England will discuss possible interest rate cuts in a two-day meeting, a decision is expected to hit headlines no later than Thursday afternoon. More About: Interest Rates , Interest , Economic , Rates , Eres
Bidder Drops Out Of Northern Rock Auction
2007-12-06 12:48:00 According to the BBC's business editor Robert Preston, the Tyne Consortium is about to withdraw from the bidding process of the Northern Rock auction. More About: Auction , Northern Rock
UK's Debt Causes Paralysis Among Consumers
2007-12-06 12:35:00 Recent research revealing the level of debt paralysis was commissioned by financial website uSwitch.com. The study paints a disturbing picture of a large section of the population that is being strangled by the credit crunch. The survey of 2000 consumers highlights a few sobering facts. More About: Debt , Consumers
One in Three Facing Mortgage Problems
2007-12-06 12:27:00 One in three, or 5.5 million, mortgage holders may face serious financial difficulties due to the tough lending climate, according to a recent report published by consumer research group Mintel. Unlike original reports, this report paints a bleak picture for everyone, not only those with poor credit ratings, but those who are self employed, and those who move frequently. More About: Mortgage , Problems , Facing , Mort
FSA Warning To Mortgage Lenders For A Difficult 2008
2007-12-06 11:31:00 City watchdog the Financial Services Authority has warned mortgage lenders that 2008 is going to be even worse for mortgage providers and borrowers as the credit crunch takes an even firmer grip. More About: Mortgage , Warning , Lenders , Diff
Housing Market Hit Unevenly By Credit Crisis
2007-12-05 11:58:00 Bovis, the UK's fifth largest housebuilder, warned that turmoil in financial markets is undermining confidence among house buyers. "The regional impact is uneven. Modest declines in house prices are predicted in the South East and the East of England, while values fall much more sharply in the South West," said Andrew Burrel of Experian's Business Strategies division. More About: Credit , Market , Housing , Crisis , Cris
Future Outlook For The Housing Market
2007-12-05 11:43:00 The housing market is looking dim for investors as the year's rental yield totalled 2.3 percentage points lower than the mortgage rate in the third quarter of 2007, according to The Stability Report. However, the buy to let market looks promising. More About: Market , Outlook , Future , Housing
Credit Crunch Will Not Sour Christmas Spending
2007-12-05 11:30:00 UK consumers are ready to set this summer's credit crunch behind them and enjoy shopping this Christmas , according to a survey by Deloitte's annual Christmas retail survey. More About: Credit , Spending , Crunch
No Rate Cut Expected
2007-12-05 10:41:00 A Reuters poll shows that most economists expect rates to remain unchanged this week when the Bank of England's Monetary Policy Committee meets to decide the rate. They gave only a one in three chance of the rate being cut from 5.75% to 5.5%. More About: Rate
Gas Bills Could Rise By £2 Per Year
2007-12-04 11:54:00 The energy regulator Ofgem has released information providing details of a plan that will allow gas distributors to invest £5bn into improving the services they offer to customers. More About: Rise , Year , Bills
Credit Cards Are Devouring Consumers' Savings
2007-12-04 11:41:00 Credit card holders are eating away at their expendable income through high interest payments, despite having enough savings sat in the bank to repay their debts, according to new research by Fool.co.uk. More About: Credit Cards , Credit , Cards , Savings , Consumers
Credit Crunch To Hit London
2007-12-04 11:30:00 Even though The City of London continues to vie with New York as the finance capital of the world, a report by Ernst & Young ITEM consultancy predicts that the credit crunch will force job cuts within the Square Mile. Researchers at CEBR, another London consultancy, believe 6,500 finance jobs will go as a direct result of this summer's credit crunch. More About: Credit , Crunch
Mortgage Gloom For 2008
2007-12-04 11:11:00 The number of mortgage approvals fell to its lowest level for well over two years in October, down to 88,000. The figure, reported by the Bank of England, was well below the recent average of 109,000. Net lending was down to £7.33bn - 29% down on October 2006. More About: Mortgage , Mortgages , 2008 , Mort
Consumers Remain Optimistic
2007-12-03 12:08:00 The recent news paints a bleak picture for the mortgage industry. While this may be true for people who over-extended themselves, or are coming off fixed rate mortgages, it does not paint an accurate picture of the entire UK consumer base. More About: Consumers
Speaking Out On Mintel's Report
2007-12-03 11:45:00 Within hours of the release of a report that claimed one in three UK consumers who hold personal loans and mortgages face serious financial difficulties, economists and people in the industry began to refute the claims that the UK is in as much danger as it seems. More About: Report , Speaking
Co-op Breaks FSA Guidelines On Overdraft Charges
2007-12-03 11:08:00 The Co-operative Bank likes to think of itself as ethical, but it has changed the method of overdraft charges that will not help customers, and critics say that those with low incomes will hit hardest by the changes, due to come into force in December. More About: Guidelines , Breaks
A Lengthy Credit Crunch Expected According To Three New Reports
2007-12-03 10:57:00 Some analysts expect the credit crunch to linger for as long as two years. This is confirmed in three reports released last week, one by Mintel, one by Moneyfacts, and one by uSwitch.com, the price comparison website. More About: Credit , Crunch , Cord , Accord
Don't Forget Travel Insurance This Christmas
2007-11-30 13:40:00 With Christmas just around the corner, many of us have already made plans to visit our loved ones who are that little bit further away. The festive period is a particularly family orientated time and with travel and trips made so much easier these days there is no excuse not to pack up a suitcase and visit long lost family and friends bringing them good tidings from afar. But how many globe trotters consider or even bother with long trip travel insurance? More About: Travel , Insurance , Travel Insurance
Northern Rock's Preferred Bidder Is Virgin
2007-11-30 13:06:00 Virgin Group has been named by Northern Rock as the preferred rescuer of the ailing bank. The rescue package revealed on Monday is worth about £15bn, valuing Northern Rock's equity at just £105m. More About: Virgin , Hern , Refer
Financial Difficulties On Horizon For 1 In 3 Mortgage Borrowers
2007-11-30 12:47:00 Further research and reports now state that up to one in three mortgage borrowers look set to suffer financially as lenders tighten criteria and raise their interest rates in an attempt to reduce bad debt. More About: Financial , Mortgage , Horizon , Diff , Mort
Half Of UK Consumers Use Credit Cards Responsibly
2007-11-30 12:17:00 Half of UK consumers save for Christmas to avoid racking up credit card debt, according to a new survey by business advisory firm Deloitte. Their study found that 50% of UK consumers save money for Christmas gifts and food shopping. Only 16% of today?s UK adults plan to put the bulk of their holiday purchases on a credit card. More About: Credit Cards , Credit , Cards , Consumers , Half
CCCS Launches Two Free Services As Bankruptcy Rises
2007-11-30 11:30:00 Consumer Credit Counselling Service's third quarter report reveals that IVAs are down 14 percent to 10,698, bankruptcies rose two percent to 15,833, CCCS debt management plans dropped a quarter to 6,465, and their total solutions are down nine percent over Q3 2006. More About: Services , Free , Bankruptcy , Bankrupt
25 Million At Risk As Data Discs Go Astray In Post
2007-11-29 11:44:00 Last week Chancellor Darling reported a security breach within the UK Government department HM Revenue & Customs, when discs containing personal details of 25 million individuals including their dates of birth, addresses, bank accounts and national insurance numbers had been lost in the internal post. More About: Post , Data , Risk , Million , Astra
Think-Tank Report Calls UK Wealth A Mirage
2007-11-29 11:16:00 The Policy Exchange think-tank recently released a derogatory report that highlighted the level of personal debt in the UK. The report released earlier this week called the UK economy 'More Mirage than Miracle'. It stated that the economy is falsely buoyed by the housing boom, creating a veneer of wealth and encouraged consumers to over-spend by racking up large amounts of cash secured against their homes. More About: Wealth , Report , Calls , Tank , Think Tank
Women Hit Hard By Debt Burdens
2007-11-29 10:58:00 Later this month MoneyExpert, launches its annual Debt Index, which monitors individuals' attitudes toward debt and analyses whether their borrowing habits improved or worsened over the last quarter. More About: Women , Hard
Steer Clear Of Store Cards
2007-11-29 10:41:00 Criticism from watchdogs for high charges has failed to deter leading store card providers from increasing the cost of borrowing on their cards, which already had some of the highest interest rates on the market. More About: Store , Clear , Cards
House Prices And Mortgage Numbers Down
2007-11-29 10:23:00 Housing information group Hometrack says that the average cost of a home in England and Wales fell back by 0.2% in November, to £175,700. This was the second month in a row that Hometrack reported a fall, this one being 0.1% down on October's figure, and taking the annual rate of house price inflation down to just 3.6% - the lowest level since July 2006. More About: House , House Prices , Mortgage , Numbers , Prices
Customers Vs Christmas Credit Challenge
2007-11-28 11:33:00 There's no getting away from it, Christmas is fast approaching. With shops already decorating their window displays with festive decorations and TV ads enticing us with gift ideas and deals, it's hard not to succumb to the lure of Christmas spending. More About: Credit , Customers , Challenge , Halle
Virgin Group Preferred Bidder For Northern Rock
2007-11-28 11:19:00 The start of this week saw Sir Richard Branson's Virgin Group as the top contender for the Northern Rock takeover. Government backing in conjunction with support from the Northern Rock board has given Virgin preferred bidder status and is considered at present to be the best option for the Government, Northern Rock's main creditor.
Mortgage Approvals Decrease For A Third Month
More articles from this author:2007-11-28 11:08:00 The British Bankers' Association (BBA) said earlier its members approved only 44,105 mortgages for house purchase in October. This is the lowest level since they started to keep records in 1997. The mortgage approvals dropped 19% from September and 37% from October 2006 when 70,000 mortgages were approved. More About: Mortgage , Month , Third , Mort , Mont 1, 2, 3, 4, 5, 6, 7 |
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