- Friday, February 27, 2009, 11:53
- Mortgages
How low can they go? A recent report suggests that housing prices have yet to bottom out – and show few signs of rebounding in the near future.
According to figures released by Nationwide, the average asking price for a property in the UK fell by 1.8% in February. This figure follows the downward trajectory in ...
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- Wednesday, February 25, 2009, 16:57
- Personal Finance
The Financial Services Authority (FSA) has stepped up pressure on lenders to stop selling Payment Protection Insurance (PPI) at the behest of consumers and consumer watchdogs.
In their most decisive move yet, the FSA issued a letter to lenders outlining a tentative action plan for lenders willing to abolish single premium PPI products for
unsecured loans. According ...
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- Monday, February 23, 2009, 16:36
- Savings and Investments
In anticipation of rising unemployment and
strained personal savings, consumers have begun cutting spending at all costs – even at the sake of their existing insurance policies.
A recent study by insurer LV= suggests that policyholders are reducing or dropping their current
insurance coverage in order to cut back spending and save money in time for the recession. Over one million policyholders have already ...
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- Friday, February 20, 2009, 15:37
- Debt Management, Mortgages
According to new figures released by the Council of Mortgage Lenders (CML), a growing number of homeowners had their properties repossessed during 2008.
Approximately 40,000 repossessions were recorded last year, affecting holders of 1 in 290
mortgages. The last time the rate of repossessions climbed so high was in 1991, when 75,500 properties were ...
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- Wednesday, February 18, 2009, 17:35
- Interest Rates, Personal Finance
A recent report from the Office for National Statistics suggests that the threat of deflation in the UK remains real despite a slower than expected decrease in the rate of inflation.
In January, the Consumer Price Index (CPI) fell from 3.1% to 3%, while the Retail Price Index (RPI) slowed to 0.1% from an already low 0.9% in December – the lowest RPI inflation rate since ...
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- Monday, February 16, 2009, 17:32
- Loans, Personal Finance
Despite a proposed government bailout package to the tune of £2.3bn, the UK motor industry continues to reel from anemic sales and low consumer confidence.
According to a report from the Society of Motor Manufacturers and Traders (SMMT), the number of car registrations decreased by 30.9% in January. Further evidence suggests that the market will continue to decline by 20% in 2009 alone.
UK automobile manufacturers maintain ...
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- Friday, February 13, 2009, 18:13
- Savings and Investments
The credit crunch is beginning to take its toll on far more than just personal savings, consumer confidence, and mortgage lending.
Recent statistics from the Office of National Statistics suggest that modern-day marriage in the UK might be a suffering institution. Marriage rates for 2007 are at their lowest since the Office began keeping record, and many experts agree that the economic downturn has only helped ...
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- Tuesday, February 3, 2009, 18:05
- Household Finances, Mortgages
The Law Society has warned parents to seek advice before offering financial assistance to help their children onto the property ladder.
The falling price of property over the past 12 months has sparked the interest of many first time buyers previously frustrated by the unaffordable asking prices in many parts of the UK. However, the squeeze ...
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