Credit Crunch 2007 Four years after the Credit Crunch we find that the banks still don’t trust each other and they are finding it hard to lend to us. The value of houses has dropped and property valuers are still down valuing properties. The number of mortgage interest rates available today is down from...
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The Council of Mortgage Lenders has today published the latest figures showing that the Buy-to-let market had risen by 12% in the third quarter of 2010. Some 26,900 buy-to-let mortgages worth £2.8 billion were advanced during this period. There are currently around 1.29 million buy-to-let mortgages. Demand for buy-to-let mortgages is being fuelled by...
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This is an article that I felt our readers would enjoy it was written by Colin Fernandez of the Daily Mail Online 27th September 2010 When Cameron Hope tried to get a loan to help his business grow he felt as if he were talking to a brick wall. In fact, he became so...
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The Money Saving Expert has discovered that in the last five years, most people’s attitude to their credit status was, “It must be OK – I’m always being offered cards and loans.” Today, things couldn’t be more different. Banks facing the combined effects of the credit crash and recession have tightened their lending criteria...
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Money saving Expert says, surely the Bank of England base rate cannot drop any further? They could drop another half a percentage point to zero but there seems little point in reducing interest rates further. The government and the Bank of England have now introduced and started the process of Quantative Easing. They will...
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The question of whether to over pay your mortgage or accept a low return on your money invested is an importance issue in today’s economic climate. As a money saving expert, I will explain how you can save thousands of pounds by over paying your mortgage and why it is more tax efficient than...
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News Update The Association of British Insurers (ABI) announced that the number people claiming unemployment had risen sharply from 8,772 in November 2007 to 19,105 in January this year. The effects of this recession are now starting to have a direct impact on ordinary people who are now losing their jobs. Losing your job...
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What’s the alternative? The problem we face now is not the cost of money but the availability of money. We need the interbank base rate to ease up to make it possible for banks to get money from the markets to allow them to lend again properly. The low interest rates at present do...
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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...
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Trying to find anything to be confident about with regards to our economy is extremely difficult at present. Earlier this week, we saw the American’s being full of confidence and optimism for the future as they heralded in their 44th President Barack Obama. We are constantly bombarded with information by the media. Today the...
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