In a six month exercise Lord Hunt of Wirral has carried out an extensive review into the UK’s Financial Ombudsman Service, and based on this review he has come up with a list of over seventy recommendations that he states are designed to make the service more accessible and more affordable for consumers. Lord Hunt […]
With many different living costs and bills rising in price over recent weeks, and with mortgage repayments still high, it is hardly surprising that so many households are struggling financially, with many unable to keep up with repayments on their bills and debts. Bills such as water, gas, electricity, and council tax have all gone […]
The mortgage industry is in complete turmoil at the moment as the result of the global credit crunch that swept across the UK last summer. Since this time the number of mortgage approvals has plummeted, the number of mortgage products on the market has plunged by two thirds, and many consumers have been left out […]
Over recent months there has been a great deal of speculation with regards to house price movement in the UK, and a wide range of data has pointed to the fact that house prices are falling, which could create real problems for those that have recently taken out huge mortgages on expensive properties, although it […]
According to a recent report the well known broker, John Charcol, could be facing immense future difficulties, which could see it losing the ability to continue operating. The broker’s own auditor has warned the firm that it faces ‘material uncertainty’ over its future. This comes at a time when many lenders and brokers in the […]
According to a recent report house prices in the UK are set to face the first annual fall since the middle of the 1990s, as experts continue to make predictions over forthcoming movement on house prices. Officials have said that house prices will fall in 2008 on an annual basis for the first time since […]
The Bank of England announced earlier this week that the base rate was being cut by 0.25%, taking the base rate from 5.25% down to 5%. The announcement came after the Monetary Policy Committee meeting on Thursday, but did not come as a surprise to many industry experts who had been expecting the bank to […]
Many people plan to make a large purchase each year, despite the fact that they may not have the funds available upfront to pay for this purchase. In the past this wasn’t too much of a problem, as most of us could enjoy pretty easy access to finance from a range of lenders, and getting […]
Officials from the British Bankers Association have revealed that mortgage approval levels in the UK are still low, with February’s approval figures reflecting a drop of around one third compared to February of last year, although the figure was slightly higher than January of this year. Experts state that the low level of mortgage approvals […]
The governor of the Bank of England, Mervyn King, has indicated that an April interest rate cut has become more likely as a result of the tighter credit conditions that are in place in the UK – news that will be welcomed by struggling homeowners that need to cut back on their outgoings. The governor […]
