Archive for February, 2010
UK house prices see first fall since June
UK house prices recorded their first monthly fall since June with a 1.5% drop in January. The drop was caused by the end of stamp duty relief, the cold weather and more properties being put up for sale. The average home is now worth £166,857. The Halifax said that prices were still 4.5% higher than [...]
February 25, 2010
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UK home loans approvals drop sharply
New figures revealing a sharp drop in mortgage approvals in January have confirmed that the UK housing market made a slow start to the year. The Bank of England said that the number of home loans approved for house purchases in January fell by 17% compared with the previous month. The 48,198 approvals was the [...]
February 23, 2010
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UK finances deteriorate further as borrowing increases
The labour government borrowed another £4.3bn last month to plug the growing hole in the UK’s finances, figures show. It is the first time the government has borrowed money in January – usually a bumper month for income from tax receipts – since records began in 1993. The UK’s total borrowing for the financial year [...]
February 18, 2010
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UK long term unemployment rises
Total UK unemployment stood at 2.46 million for the three months to December, down 3,000 on the figure for the previous three months. But long-term unemployment, covering those out of work for more than a year, rose by 37,000 to 663,000, the highest figure since 1997. And the number of people claiming Jobseeker’s Allowance climbed [...]
February 17, 2010
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Interest rates on credit cards are at their highest level for 12 years
The average credit card interest rate has risen steadily to 18.8% in February, despite the main Bank rate remaining at 0.5%. Card providers have pushed up rates owing to fears that borrowers are more likely to default. But recent Bank of England figures suggest the situation is not so acute, with rates at a three-year [...]
February 16, 2010
Tags: Bank of England, consolidate debt loans, Credit Crunch, Interest Rates, Loan calculator, loans, sub prime loans, uk recession Posted in: Uncategorized No Comments
Unsafe chip and pin must be overhauled to protect millions of bank customers
UK banks’ chip and pin technology must be overhauled after it emerged that one in seven people could have already been a victim of a “fatal flaw” in the system. Experts at Cambridge University believe the system is “broken” after they tricked it into accepting transactions without using a valid personal identification number. They say [...]
February 12, 2010
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UK home repossessions reach 14 year high
The number of people being evicted from their homes has climbed to a 14 year high, with an average of 126 repossessions every day in 2009. As many as 46,000 people had their home repossessed last year, the highest level since 1995 and 15 per cent more than the previous year. The figure from the [...]
February 11, 2010
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UK home loans interest rates fall to new lows
The cost of tracker mortgage rates fell to a record low during January as competition continued to return to the mortgage market, figures from the Bank of England show. The average interest rate charged on one of the deals dropped to 3.63pc from 3.92pc during the month, the lowest level since Bank of England records [...]
February 10, 2010
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UK housing market freezes up as Britain suffers winter weather
Snow and freezing temperatures almost brought the property market to a halt last month, according to estate agents. The latest survey from the Royal Institution of Chartered Surveyors found a fifth more estate agents reported a fall rather than a rise in the number of new buyers during January. It is in sharp contrast to [...]
February 9, 2010
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More than 10,000 Britons declared insolvent every month
More than 10,000 Britons are being declared insolvent every month, the highest level on record, new official figures have shown. Although the recession maybe over, many households are still unable to live within their means. And experts warned insolvency numbers will rise further once interest rates begin to head above their current low level of [...]
February 8, 2010
Tags: Credit Crunch, home loans, uk recession Posted in: Uncategorized No Comments
