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At a time when all mortgage lenders have shown us they do not have an appetite to lend money, along comes the Nationwide with a pioneering new niche mortgage product for their existing borrowers. Last month they introduced their ground-breaking negative equity mortgage to their clients. This will allow their borrowers to borrow up to [...]

Tougher times are expected for small and medium sized business. Business failures are expected to rise by a staggering 50% which means that failed businesses could peak around 32,400 in 2010; this would be the highest level recorded since 1992. The Federation of small businesses said that they had recorded a dramatic increase of 214% [...]

As we near the middle of January 2009 many of us find our New Year’s resolutions slipping away as they always do. For many of us it is just something we do on New Year’s Eve and then hope we remember it on New Year’s Day and then continue it. For many of us it [...]

The Northern Rock was granted emergency financial support from the Bank of England on September 2007. Northern Rock under government control then announced in 2007 that they would not remortgage their existing mortgage borrowers to a new remortgage product.  In fact the Northern Rock was informing their mortgage borrowers to remortgage to another mortgage lender [...]

The government this morning announced a £200million mortgage rescue scheme that may help around 6,000 homeowners facing repossession, money saving expert heard today.  This new initiative is aimed at stopping thousands of vulnerable homeowners from losing their homes in England and will start from this Friday.  The scheme is primarily targeted at families [...]

There seems little point in reducing interest rates any further as the interest rate cuts are proving to be ineffective and the Bank of England base rate cuts are proving to be unpopular with savers and borrowers. The pound is falling against the dollar and the euro. Savers are not being rewarded for saving [...]

Latest forecast by the British Chamber of Commerce suggests that unemployment figures could rise to ten percent or around 3.1 million people during this year 2009. According to Credit Action personal debt in Britain today stands at almost £1.456 billion in November and the amount of debt has surged ahead of the country’s gross domestic [...]

In the last two months I have seen nine clients all wishing to remortgage their homes. Some of my clients are at the end of a mortgage deal, others are looking to consolidate their expensive secured loans, unsecured loans and credit card debts into an affordable mortgage deal. Whilst some clients are looking for a [...]

Global recession continues as Citi Bank announced it will be laying off 53,000 employees in the UK and the US. The Citi Bank is considered to be the biggest bank in the world and today the US Treasury has agreed to invest £13.4billion ($20bn) in return for preferred shares in the Citigroup in order to [...]

It’s astounding, time is fleeting and still they are bleating about the mis-management of the banks. Yesterday the Prime Minister Gordon Brown and his Chancellor Alistair Darling agreed to the £37billion requested by the Royal Bank of Scotland (RBS), Lloyds TSB and the Halifax. We are told repeatedly that they have not nationalised these banks, but [...]