Many businesses turned down for loans by banks
March 17, 2010
It has been revealed in a recent report that many businesses in the UK that have needed financial aid from their banks have been getting turned down, as banks continue to clamp down on their lending. The figures show that last year nearly 60 percent of businesses in the UK were refused credit from their... more
Mortgage borrowing falls due to stamp duty
March 9, 2010
According to a mortgage industry group the level of mortgage borrowing for the month of January has been affected by the increased threshold when it comes to stamp duty in the UK. During the recession the government increased the threshold on stamp duty to apply to properties up to the value of £175,000,... more
Mortgage fraud costing UK one billion a year
March 4, 2010
Mortgage related fraud is a problem that has caused concern for some time, but over recent years, with the credit crunch and mortgage drought causing so many problems, this type of fraud along with some other types of fraud has become increasingly prevalent. It has been estimated recently that total... more
First time buyers could be affected by return of buy to let landlords
February 26, 2010
According to a recent report a rising number of lenders are starting to approve mortgage deals for buy to let borrowers following a rocky period when fewer and fewer of these deals were being approved. However, whilst the increase in buy to let mortgage deals will come as good news for the landlords... more
Many people will be leaving Halifax
February 22, 2010
The High Street banking giant Halifax has always enjoyed a healthy database of customers, but there is evidence to suggest that a huge number of customers may be leaving the bank because of changes that they have brought in with regards to how they charge for customers’ overdrafts. It has been... more
Building society hikes up rates for mortgage customers
February 20, 2010
A building society has recently announced that it is hiking up its standard variable interest rates for customers despite the fact that the base interest rate still stands at its all time low of just 0.5 percent. The decision to increase its rates has been made by the Skipton Building Society and many... more
Mortgage approvals increased at the end of last year
February 18, 2010
According to recent figures the end of last year saw the level of mortgage approvals in the UK increase, although approval levels were still far lower than they were the previous year. Figures have been released by the UK’s major banks, and have shown that mortgage approval levels increase towards... more
Mortgage approvals double in twelve months
February 13, 2010
Recently released figures have shown that the level of mortgage approvals in the UK actually doubled in the twelve months to November of 2009. The figures were released recently by the Bank of England, and officials from the central bank have said that the increase in mortgage approvals over the twelve... more
VAT rise saw High Streets bustling
February 5, 2010
The few days following Christmas have been extremely busy on the High Streets of the UK, and this is partly down to the fact that VAT is due to increase again from 1st January 2010, when it will go back up to 17.5 percent, having been reduced to 15 percent last year in order to try and aid the struggling... more
What does the banks’ victory mean for you?
January 31, 2010
Last year banking customers, campaigners, and various industry groups in the UK received the news that they thought that they would not hear but had been dreading at the back of their minds. After nearly two years of legal battles and appeals it was announced that the banking industry had won the case... more
No change in interest rates for January
January 27, 2010
There has been no further change in interest rates for the month of January. An announcement was made by the Bank of England following the Monetary Policy Committee meeting for January, where it was confirmed that the base rate was to remain at 0.5 percent, where it has been since March 2009. The current... more
Further pay freezes for workers this year
January 26, 2010
The Confederation of British Industry has made a number of predictions recently, and has issued a warning stating that workers should prepare themselves for another year of pay freezes. The CBI has stated that with unemployment levels expected to increase until the autumn of this year it is unlikely... more
Lower interest rates helping homeowners
January 23, 2010
Recently released figures have shown that the lower interest rates that have been in play for the past nine months are helping many homeowners to cope better in terms of their finances. It appears that some homeowners are up to £200 a month better off as a result of the base interest rate being at just... more
Average Buyers Still Unable To Afford Property
January 21, 2010
It has been revealed that the average buyer may still find that property prices are out of their reach, with house prices becoming unaffordable again for the first time since the property slump began at the end of 2007, according to a recent report. Prices are said to be moving out of the reach of many... more
Slowdown in house price increase for December
January 14, 2010
Recently released figures have shown that house prices increases in the UK have seen a slowdown for the month of December, with growth in properties across both England and Wales slowing down for the month. The figures have been released by the property website Hometrack, and the figures showed that... more
Buyers Being Forced Into Mortgage Loans By Estate Agents
January 9, 2010
A recent study that was carried out by Times Money has suggested that in many cases potential property buyers in the UK are being forced into taking costly mortgage loans through the estate agency that they go with. The report accused estate agents of using unfair practices to boost their own profits,... more
Deposit scheme suffers according to landlords
January 5, 2010
According to a recent report many landlords and tenants are concerned that a government deposit scheme that is supposed to protect the deposits of tenants will end up suffering as a result of measures brought in to try and cut costs. The independent deposit schemes were brought in to help protect deposits... more
Warning over predatory lenders over Christmas and New Year
December 24, 2009
Warnings have been issued by industry experts to consumers in the UK who might be thinking about taking a loan over the Christmas and New Year period to tide them over. Many desperate consumers who do not have the cash available to go out, entertain, make purchases and the like over the festive season... more
Tesco moves closer to full banking service
December 23, 2009
Over recent years many of the UK’s major supermarkets have started offering far more than just household goods and groceries, with everything from mobile phones and electricals to insurance services and credit cards now available from some major supermarkets. However, one supermarket is now aiming... more
Mixed news for those with low deposits for mortgages
December 18, 2009
In the past getting an affordable mortgage with only a low deposit of 5 percent, or even with no deposits at all in some cases, was not a big problem, as many mortgage lenders offering 95 percent loan to value mortgages, 100 percent mortgages, and even 125 percent mortgages. However, since the onset... more