April, 2009 news
Debt `top of British youths` concerns`
A new survey has suggested that debt is the biggest concern for the future amongst much of Britain`s youth.... Read more »
Response to the Budget: too much debt
Most people are concerned about the level of debt the country is now carrying, according to a recent survey by Opinium Research, carried out on the day of the Budget, April 22nd.... Read more »
Private Medical Insurance increasingly popular
The economy may have been entering recession, but the number of people covered by Private Medical Insurance (PMI) rose throughout 2008.... Read more »
Many pensioners `may not have enough income`
A think tank has warned that many pensioners may not have enough income to fully meet their needs as they get older, according to The Telegraph.... Read more »
Employers freezing pay during recession
Two new studies have suggested that between one fifth and one quarter of wage settlements in the first few months of 2009 have involved pay freezes, The Financial Times reports.... Read more »
Banks and building societies `to increase loan availability`
New figures from the Bank of England suggest that lenders have a more optimistic outlook for the future, which may lead to increased levels of lending.... Read more »
Darling: banks will be able to loan billions more
In his Budget speech, Chancellor Alistair Darling promised that banks would be able to loan "billions of pounds more this year and next" as a result of the Government`s economic policy.... Read more »
Mortgage approvals down slightly - but price decline slows
The number of mortgage approvals dropped slightly in March, but house prices seem to be falling at the slowest rate in over a year. ... Read more »
`More needs to be done` to help people facing repossessions
Not enough has been done by the government to help people who are facing the prospect of repossession because they are struggling to keep up with mortgage repayments, it has been claimed.... Read more »
AMI: Budget will help inject liquidity into mortgage market
Measures revealed in the recent Budget will help to inject liquidity into the UK`s mortgage market, an industry body has said.... Read more »
`Not all lenders` will back new mortgage scheme
Not all mortgage lenders in the UK will back the newly-launched government initiative to help homeowners who are in difficulty with repayments, it has been claimed.... Read more »
House sales up 40% in March
House sales in the UK went up by 40% in March, compared with the previous month, according to the latest figures from HM Revenue & Customs (HMRC).... Read more »
Car scrappage scheme confirmed
The Government has announced a scheme in which motorists can trade in their old cars in return for a £2,000 discount on a new vehicle.... Read more »
Gross mortgage lending revealed
Levels of gross mortgage lending over the first quarter of this year have been revealed by the Council of Mortgage Lenders (CML).... Read more »
Fuel and alcohol prices to rise following Budget announcements
Prices of petrol, alcohol and cigarettes are all set to rise following the Government`s latest Budget announcement.... Read more »
Student loans `could earn interest`
Economists have suggested that university students could actually earn interest, rather than having to pay it, on their student loans now that RPI (Retail Prices Index) inflation is negative.... Read more »
New mortgage support scheme available
A new initiative to assist homeowners who are struggling to meet their mortgage repayments was launched on April 21st.... Read more »
Buy-to-let mortgage holders `should check finances of prospective tenants`
People with buy-to-let mortgages should check the finances of prospective tenants before they allow them to move into their properties, a firm has advised.... Read more »
Insurance fraud `at record levels`
In the midst of the recession, we`re seeing record levels of fraudulent insurance claims, according to the association that `represents the collective interests of the UK`s insurance industry`.... Read more »
Car-buyers haggling more - but not enough
Today`s car-buyers are more likely to haggle over the price of a car - but many could probably get a better deal if they were prepared to negotiate harder.... Read more »
Food and drink boost retail sales figures
High sales of food and drink, as well as clothing and footwear, boosted retail spending in March, according to the latest figures from the British Retail Consortium (BRC).... Read more »
Home loans on the rise in February
The latest lending figures from the Council of Mortgage Lenders (CML) have shown a slight rise in February, possibly suggesting that the beginnings of a recovery may be taking place.... Read more »
Pensioners `turning to equity release to repay mortgage debts`
An increasing number of pensioners in the UK are turning to equity release as means of repaying their mortgage debts, it has been suggested.... Read more »
Buy-to-let mortgage holders `must seek protection from non-payment`
As a result of the current economic conditions, buy-to-let mortgage holders risk running into financial difficulties if they fail to protect themselves from tenant non-payment.... Read more »
Swapping to offset mortgages `can save money`
Many people may be able to benefit if they swap to an offset mortgage, it has been suggested.... Read more »
Debt affects the nation`s mental health
Britons` debt problems are having an effect on their psychological well-being, mental health specialists have reported.... Read more »
Buy-to-let mortgage market `being aided by mature student demand`
The UK`s buy-to-let mortgage market is being aided by increasing rental demand from mature students.... Read more »
People with bad credit histories `struggling to get mortgages`
Consumers with bad credit histories are currently struggling to secure mortgages, a director has suggested.... Read more »
Home loans for people in negative equity
Two major home loan providers are now offering mortgages to existing customers who are in negative equity.... Read more »
Cost of borrowing `falling at fastest rate since January`
The LIBOR rate (London Inter-Bank Offered Rate) has fallen at its fastest rate since January, according to The Times, suggesting that interest rates on loans and mortgages could fall further.... Read more »
Additional mortgage lending `good news for FTBs`
Plans announced by mortgage lenders to provide products at higher loan-to-value (LTV) ratios is good news for first-time buyers (FTBs), it has been claimed.... Read more »
Fixed-rate mortgages `increasing in popularity`
Homeowners are increasingly looking to fixed-rate mortgages, new figures suggest.... Read more »
Mortgage news: good and bad
According to a Bank of England survey, mortgage approvals jumped 20% in February. At 37,937 approvals, it`s the highest figure since May 2008, but many economists believe we`d need to see around 70,000 - 80,000 monthly approvals before the fall in house prices came to an end.... Read more »
UK `to see rise in personal insolvencies`
There is to be an increase in the number of people declared insolvent this year, it has been predicted.... Read more »
Mortgage rates `fall to five-and-a-half-year low`
The interest rates on the UK`s most popular mortgage deals are currently at a five-and-a-half-year low, new figures suggest.... Read more »
Calls made for action to improve mortgage market
The government should take further action to improve the mortgage market, it has been claimed.... Read more »
Base rate remains unchanged at 0.5%
The Bank of England`s Monetary Policy Committee has voted to keep its base rate at 0.5%, following nine consecutive cuts.... Read more »
32% `have no emergency savings`
A new study from National Savings & Investment (NS&I) has suggested that 32% of Britons do not have savings that could help them in a financial emergency.... Read more »
OFT launches probe into unsecured loans
A regulatory body has launched an inquiry into the sale of unsecured loans and credit cards.... Read more »
Potential mortgage holders `concerned over negative equity`
A factor that is still holding some consumers back from committing to a mortgage is the possibility of entering into negative equity, it has been claimed.... Read more »
Debt Relief Orders introduced
This week, on April 6th, a new form of insolvency was introduced - the Debt Relief Order (DRO).... Read more »
Almost three quarters of Brits `cutting back on car costs`
70% of Britons are taking steps to reduce their motoring costs, according to a new report from Saga.... Read more »
Consumer confidence up in March
On average, consumers began showing more confidence in March, according to the GfK NOP Consumer Confidence Index. The overall index score rose five points, climbing from -35 in February to -30 in March.... Read more »
Dental insurance `can alleviate costs`
Dental insurance can help many of the people who are finding themselves forced to pay for private dental care.... Read more »
Two thirds of mortgage deals require at least 25% deposit
The majority of mortgage deals are only available to people who can put down a deposit worth at least 25% of the property`s value. To put it another way, most mortgage deals currently on offer have an LTV (Loan-to-Value) ratio of 75% or less.... Read more »
Consumers `risking finances through lack of cover`
A considerable number of consumers are risking their finances - potentially putting themselves at risk of debt problems - by failing to secure insurance, new research suggests.... Read more »
BoE `to hold interest rates`
A number of experts have predicted that the Bank of England (BoE) will vote to hold interest rates during its monthly two-day meeting, which will conclude on Thursday April 9th.... Read more »
Landlords urged to take advantage of fixed-rate mortgages
Buy-to-let investors in the UK should take advantage of competitive fixed-rate mortgages.... Read more »
Mortgage borrowers `moving back to fixed rates`
More people are choosing fixed-rate mortgages ahead of `inevitable hikes` in interest rates, a new report has suggested, despite the base rate falling throughout the first quarter of this year.... Read more »
More loans to be provided, report suggests
A new report produced by the Bank of England (BoE) has suggested that banks and building societies are to increase the amount they loan to businesses and households.... Read more »
Attitudes towards debt `have changed`
Consumers` attitudes towards debt have changed recently, it has been suggested.... Read more »
Youngsters more savvy about money
As a group, youngsters are becoming better with money, a new survey has claimed.... Read more »
First average house price rise in 16 months
The latest house price figures from Nationwide Building Society claim that the average price of a house rose for the first time since October 2007.... Read more »
Car loans: `change in banking culture` needed
Chancellor Alistair Darling has said that there must be a change of culture in the way banks do business in order to restore confidence in the banking system.... Read more »
"Tentative signs" that mortgage market is improving
There are "tentative signs" that the recent reductions in the UK`s base rate of interest have led to an improvement in the country`s mortgage market, it has been claimed.... Read more »
Interest rate cuts `partially passed on to mortgage borrowers`
Mortgage borrowers in the UK have benefited to some extent from the reductions in the UK`s base rate of interest.... Read more »
FSA suggests increase in banking `safety net`
The Financial Services Authority (FSA) has suggested increasing the Government`s compensation for savers in the event that their account provider fails.... Read more »
Cost of fuel rises by 2.12p per litre
Today, 1st April, the price of petrol/diesel has risen by 2.12 pence per litre, thanks to an increase in fuel duty.... Read more »
Debt repayment levels `highest since records began`
New figures from the Bank of England have shown the biggest net repayment of consumer debts since records began in 1993.... Read more »
Two million pet owners delayed or cancelled pet insurance
Nearly two million pet owners have chosen to cut out pet insurance as a result of the economic downturn, according to a new report.... Read more »
Council tax increased four times faster than inflation in ten years
Government statistics have shown that council tax has, on average, increased by almost four times the rate of inflation in the last ten years.... Read more »
Homeowners `should take advantage of low fixed-rate deals`
Homeowners should consider taking advantage of the low rates currently being offered on fixed-rate mortgages by some lenders.... Read more »
UK `has gap in mortgage market`
There is currently a gap in the UK`s mortgage market, an industry practitioner has suggested.... Read more »
Tenants `should consider ability of landlords to pay mortgages`
When considering whether or not to rent a property, people should consider the financial standing of their landlords in terms of their ability to keep up with their mortgage repayments, it has been claimed.... Read more »