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

Buy To Let Feeling Credit Crunch

According to a survey by the Royal Institute of Chartered Surveyors (RICS), demand for rental properties continues to grow as yields increase for landlords. More would-be first-time buyers are either unable or hesitant to enter the property market in today's economic climate.

Established investors are reaping the benefits as gross yields have increased at their fastest pace since the third quarter of 2005. However, as the credit crunch takes a firm grip on the UK economy, new buy-to-let investors are finding it increasingly difficult to obtain investment mortgages and benefit from the rising rental market.

According to RICS data, "1% more Chartered Surveyors reported a fall than a rise in landlord instructions compared to 11% in the previous quarter.

"The credit crunch has restricted the number of buy-to-let mortgages approved as well as the number of mortgages available to investors."

Rental expectations continue to be positive and rising yields may be the reasons landlords remain in the market. Property investors selling off their properties after tenant leases expire has fallen almost 2%.

Barry Hall, an RICS spokesperson, said:

"Established investors continue to reap the benefits of the current uncertainty in the housing market and have been enjoying the fruits of rising rents, but new investors are struggling to get the necessary finance to enjoy this buoyant sector.

However, some landlords at the margins may desert the market after the drop in capital gains tax occurs in April."

Published on March 6, 2008

Darling's Budget Report Highlights

Chancellor Alistair Darling delivers his first Budget Report yesterday. Highlighted in this article are some of the main points... Read More
March 13, 2008

Lending Falls Again Says CML

The amounts borrowed by first-time buyers and home movers continue to drop as the credit crunch takes further grip on the UK mortgage market. Remortgage activity is on the increase as many switch from fixed-rate deals to tracker mortgages in anticipation of further base rate decreases from the Bank of England... Read More
March 12, 2008

10 Tips To Improve Your Credit

Now more than ever our credit rating affects our ability to borrow credit. Here are 10 tips to help you improve your credit score... Read More
March 7, 2008

Interest Rates Kept At 5.25%

Yesterday, 6th March, the MPC decided to keep the base rate at 5.25 per cent. This decision was to be expected as the Bank focuses on the pressures of rising inflation and a slowing economy. Analysts are predicting another cut to 5 per cent to happen in May unless economic conditions weaken substantially. Whilst some feel the MPC shouldn't wait too long before the next cut, many agree with yesterday's decision... Read More
March 7, 2008

20 Per Cent Of Homeowners Fear Repayments

The UK's financial watchdog, the FSA, published a survey of over 500 mortgage holders which revealed 1 in 5 are worried about being unable to keep up with their mortgage repayments. It is estimated that 1.4 million fixed-rate or discount deals will expire this year raising monthly repayment amounts. Twenty five per cent of those surveyed admitted they had no contingency plans to meet these costs... Read More
March 6, 2008