Car Insurers Debate Over Future Profits

UK car insurers have been running an unprofitable business for 14 years. Independent market analysts, Datamonitor, say 2009 looks to be a profitable year despite the doubts

March 13, 2008

Budget Report Expectations

Chancellor Darling's Budget Report is expected to raise taxes on alcohol, fuel emissions, flights and many other issues concerning the economy. Tax burdens expected to increase on poorer families

March 12, 2008

Card Fraud Rises Again

Card fraud has increased over past year. Whilst chip and PIN technology has been successful in the UK, criminal activity overseas has increased 77 per cent

March 12, 2008

Tax Cuts Needed To Restore Confidence

Appeals for corporate tax cuts are submitted to the Treasury as it prepares its Budget report this Wednesday. Business and banking sectors are worried about the direction of the UK economy

March 10, 2008

First Time Buyers Take Hit From Stamp Duty

Stamp duty tax has not kept up with the rate of increase in house price inflation over the past decade. Yet another hurdle first-time buyers must leap over to get on the property ladder

March 10, 2008

Read all Finance News

Mortgage Rates Increasing In Response To Global Credit Crisis

Mortgage rates are increasing again, not because the Bank of England increased interest rates again, but in response to global turmoil. Alliance & Leicester, Barclays, and Abbey have already raised their rates. Alliance & Leicester, the UK's eighth largest lender reported that they are increasing rates on their tracker mortgages by 0.1% to 0.2% for new customers and homeowners who are remortgaging. Members of the Halifax Bank of Scotland Group, Abbey and Halifax have increased their variable mortgage rates.

Richard Taylor, head of mortgage products at Alliance & Leicester, said: "We are keeping our competitive fixed rate deals, but in line with the market our variable rates have been raised by a modest amount."

The Council of Mortgage Lenders warns that the reduction in funding may hit the supply of money available for mortgages. But there are hopes that the problems will ease after the Bank of England promised to pump £10 billion into longer-term money markets.
As many as 250,000 homeowners with poor credit histories may pay more or risk losing their homes as a result of both the tremors following the Northern Rock fiasco and the global mortgage markets being forced to impose new restrictions on their loans and mortgages, according to Guardian Unlimited.

Unofficial numbers estimate that one quarter of borrowers are in the "seriously adverse" category with more than six months' arrears on their mortgage, unpaid utility bills and credit card payments.

The Bank of England is minimizing warnings of a sub-prime mortgage crisis in the UK, which represents less than 15 per cent of the market. But Ray Boulger of Britain's largest mortgage broker, John Charcol, said: "There will be many people who will find their mortgage unaffordable. There will be others who cannot get a mortgage at all because lending criteria have changed."

Published on September 30, 2007

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March 13, 2008

Lending Falls Again Says CML

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10 Tips To Improve Your Credit

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March 7, 2008

Interest Rates Kept At 5.25%

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March 7, 2008

20 Per Cent Of Homeowners Fear Repayments

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March 6, 2008