The situation as I see it! Money seems to be in short supply; interest rates offered by banks for saving money remains diabolical; unemployment is expected to increase by quarter of a million as students leave university and college and members of Parliament from all sides of the political spectrum have exploited their expenses...
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What’s the difference between a recession and a depression?  A recession is when your friend loses his or hers job due to cutbacks at work and a depression is when you lose your job. This recession is a national and a global affair it has no boundaries as it affects the rich, the white...
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Edward Ball, the Secretary of State for Children, Schools and Families recently quoted that “this financial mess is global and as bad as we have seen for 100 years.” It’s obvious that Ed Ball thought he could say it better than Mervyn King the governor of the Bank of England who had already stated...
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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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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...
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The recent economic downturn has had a major effect on the banks and the amounts that you can safely save with them. The government has nationalised two British banks so far, the Northern Rock and the Bradford & Bingley. The savings accounts from the Bradford & Bingley were passed to the Abbey Bank which...
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It’s nearly a week since the Bank of England dropped their base rate from 5% to 4.5% and we are still waiting for more competitive interest rates from the banks for mortgages, remortgages personal and business loans. It seems that the top four banks namely, RBS, Lloyds TSB, HBOS and Barclay’s Bank were quick...
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