More people seek advice over debts
January 30, 2009
Figures that were recently released by a debt charity have indicated that over the past twelve months the demand for debt related advice in the UK has rocketed, with the global credit crunch closely followed by the recession and huge numbers of job losses resulting in an increasing number of people worried about their finances.
The [...]
Middle classes worry about mortgage crisis
January 30, 2009
Most people are not surprised to hear that the mortgage crisis that has hit the UK over the past year is having a profound impact on groups such as first time buyers and low income families. However, there is evidence that shows that the mortgage famine and financial crisis is also having a very real [...]
House prices to fall further, states Barclay’s
January 29, 2009
A senior official from Barclay’s Bank has predicted that house prices will fall further over the course of this year, with a drop of between 10 and 15 percent. John Varley, the chief executive of Barclay’s, said that between 2007 and 2009 the bank had predicted that house prices would fall by a total of [...]
Interest rates hit all time low
January 29, 2009
The base interest rate in the UK has hit its lowest level since the Bank of England was founded over three centuries ago, after the latest base rate cut took the rate down to just 1.5 percent. The Bank of England announced last week that it was cutting the base rate by a further 0.5 [...]
Mortgage availability to get even tighter
January 29, 2009
According to some industry officials the availability of mortgages is set to get even tighter, as credit conditions become even more difficult and mortgage product numbers continue to dwindle. Officials have said that there are fewer and fewer mortgages on the market now, and with mortgage numbers having fallen by around 80 percent in the [...]
Expected increase in credit card applications
January 28, 2009
Over the months of January there is set to be an increase in the number of credit card applications going through, as an increasing number of people try and reduce the interest that they are paying on the balance that they accrued over the Christmas period. Credit card firms are likely to find themselves swamped [...]
Further advice to help you weather the recession
January 28, 2009
Over the past year the nation has been thrown into turmoil financially, and with the recession now taking a hold on the back of the global credit crunch that has caused so much chaos over the past year. With many well known companies going bust, people losing their jobs all over the place, banks running [...]
Crisis needs more than interest rate cuts
January 28, 2009
Two members of the powerful Monetary Policy Committee, which sets the base interest rate in the UK, have said that Monetary Policy alone cannot eliminate the turmoil that stems from the global credit crunch. Whilst interest rates have been cut aggressively recently the key MPC members said that something more than this is needed in [...]
Borrowing money the sensible way
January 27, 2009
After a particularly turbulent year in terms of finances many of us found that we seem to be borrowing more as a result of being short of cash. High living costs such as energy bills, petrol, and food have all impacted on household finances over the past year, and many people have had to dip [...]
Consumers to spend less this year
January 27, 2009
Industry officials and recent reports have indicated that whilst many consumers rushed out to splash money on bargains during the recent sales there is a good chance that most will be cutting back on spending over the course of this year, even though many retailers have slashed prices on many different products by a huge [...]
