Archive for December, 2007
Has the interest rate cut affected your savings
All across the UK there were sighs of relief earlier this month, after the Bank of England announced that it would be cutting the base rate from 5.75% to 5.5% after a 0.25% cut. For many months homeowners have been struggling to keep up with mortgage repayments, with interest rates having risen five times since August 2006 and impacting heavily upon monthly mortgage repayments for many homeowners.
Popularity: 28% [?]
Can you afford not to employ a property search agent?
If you are a potential property purchaser looking to buy a property at the higher end of the market you may fare better and save yourself time and hassle by employing a professional to find the perfect home for you. Many of us have seen television shows where experts help singles, couples, and families find the perfect home abroad, and apparently for many wealthier home purchasers this is becoming the norm in the search for an everyday home rather than just a holiday home.
Popularity: 23% [?]
Sensitive employee data lost by building society
In he latest in a long line of blunders by various organisations involving the loss of sensitive date, it has recently emerged that the Leeds Building Society has mislaid data on around one thousand of its employees. The sensitive data included bank and salary details, and as a result of this loss the members of staff at the building society have been warned to remain vigilant and keep an eye out for any suspicious activity in terms of their bank account or personal information.
Popularity: 27% [?]
Tough times for borrowers in the run up to Christmas
According to a recent report borrowers are set to face tough times in the run up to Christmas this year, with increased difficulties when it comes to getting credit. The problems are set to continue well into 2008 according to officials, as lenders tighten up on their lending policies and try to protect themselves in the wake of the credit crunch that has swept across the UK in recent months.
Popularity: 23% [?]
Some economists predict interest rates could fall to 4% by end of next year
Earlier this week the Bank of England announced that the base interest rate would be falling by a quarter point from 5.75% to 5.5%. This followed a series of five interest rate hikes since August 2006, which took the base rate from 4.5% to 5.75% by July of this year. Since July interest rates have remained on hold at 5.75% despite calls from industry professionals and consumers for the rate to be cut.
Popularity: 22% [?]
Beware the insurance policies with a sting in the tail
Life insurance is one of the most important and popular types of protective cover around, and many people think of this type of cover as particularly vital because it enables them to leave something behind for their loved ones when they are no longer there to provide for them financially.
Younger people can usually get life insurance at a reasonable price, with affordable monthly premiums. However, for the elderly finding low cost life insurance isn’t always easy.
Popularity: 26% [?]
Keep your eye on what your lender does with interest rates
Earlier this week the Bank of England announced that interest rates were being cut for the first time in two years, with 0.25% being shaved off the base rate taking it from 5.75% - where it has been stuck since July 2007 – to 5.5%.
In response to this a number of major lenders immediately cut their standard variable rates in line with the Bank of England cut, with new borrowers benefiting right away, and in most cases existing borrowers benefiting from the rate cut from the beginning of January.
Popularity: 21% [?]
Massive cash reward offered for return of HMRC lost discs
According to a recent report a massive £20,000 reward is now being offered for the safe return of the two discs that were recently lost by HM Revenue and Customs.
The discs were being sent to the National Audit Office, and contained the banking details of 25 million consumers. Although a massive operation to recover the discs was put into place there has been no sign of the lost data, and the search for the discs is now drawing to an end, prompting authorities to offer a rewards as a last resort in order to try and recover the sensitive data.
Popularity: 25% [?]
UK base rate falls following MPC meeting
Following the Monetary Policy Committee meeting earlier this week the Bank of England has delivered some much needed good news to homeowners around the country.
Following a series of five interest rate rises since August 2006, and then several months of no movement at all on interest rates, homeowners have been struggling to keep up with repayments on variable rate mortgages, and this has been reflected by a sharp drop in consumer confidence levels, leaving the economy facing a real slowdown.
Popularity: 23% [?]
Mortgage fees have rocketed in two years
According to a recent report the upfront fees that are charged by mortgage lenders have rocketed over the past two years, with many fees actually doubling over the two year period.
The data comes from a report from Moneyfacts, and suggests that mortgage fees have close to doubles in just two years. This puts additional pressure on already struggling potential home buyers, who have seen property prices shoot up, interest rates rocket, and now mortgages fees go through the roof.
Popularity: 21% [?]