The Latest Mortgage News
‘Stealth’ Fees Earning Millions for Motor Insurance Companies
Posted 2008-04-30
Many motor insurance companies are applying the practice of some mortgage company lenders by charging excessive fees for simple administration services. The ‘stealth’ charges include amounts of up to £25 for straightforward paperwork, which may simply involve changing the customer’s...
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Understanding Car Insurance Discounts
Posted 2008-04-24
Trying to save money wherever you can is important to us all. Car insurance should be no different. Do not assume that your agent knows everything about you and your vehicle. Drivers should take advantage of all discounts that many...
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Bankruptcy Rate Worsening
Posted 2008-01-2
High credit card bills and increasing mortgage payments are at the root of the problem for many people forced to declare bankruptcy this year. In the past, people have enjoyed easy access to cheap credit, but that trend looks...
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Uninsured homeowners need not suffer financial loss
Posted 2007-12-13
Lloyds TSB, a financial services provider, noted that when England won the Rugby World Cup tournament in 2003, a rush of related home insurance claims were received. One of the oddest claims received by Lloyds TSB was from a...
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Homeowner sector ‘less affected by financial turbulence’
Posted 2007-12-9
According to the Bank of England, British homeowners are not as likely to be affected by the onslaught of the recent credit crunch as those without securable equities. In a meeting held by the Monetary Policy Committee (MPC), they conjectured that banks are more likely to provide secured home loans than unsecured forms of lending. And although the Credit Conditions Survey taken by the Bank identified an intention to raise the cost of lending to individuals, the committee members observed that “conditions facing the household sector appeared, for the moment at least, to be less affected by the financial turbulence”. As a result, the New Year could bring an increasingly attractive proposition to homeowners during this transitional phase in lending. MPC member, Professor David Blanchflower voted to reduce rates in October - the first time in three months that anyone on the committee had rejected Bank Governor, Mervyn King’s proposal to maintain the base rate. ...
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Brits bedevilled by festive credit spending
Posted 2007-12-5
The savings Manager at AWD Chase de Vere, Susan Hannums asserts that consumers should plan for the long-term and be wise about credit card usage on a “day to day” basis. “The spending and the mortgage rates are going...
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Households saving in lieu of seeking unsecured loans
Posted 2007-11-30
According to Alliance & Leicester an increasing number of Britons are saving during this uncertain financial atmosphere and are less willing to take on unsecured loans. The recent base rate increases have many households reining in their expenditures, observed...
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Financial complexity is youths’ reality
Posted 2007-11-19
“The reality of today’s teenagers is that their financial circumstances are much more complicated than that of their parents at the same age,” stated Head of Youth Banking, Mark Worthington. He also asserted the fact that young people now have...
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Garage conversions good option for some homeowners
Posted 2007-11-18
When garage space is seldom used for storing vehicles, the best option for the space is often a conversion into usable space. Technical Director of the Home Builders Federation, Dave Mitchell, suggested that the rewards of such conversions could be...
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Credit crunch not expected to tank Real Estate market
Posted 2007-11-16
The Ernst & Young Item Club foresees a slowdown in national economic growth, but dispels the suggestion that home prices could be set to crash in the wake of the economic credit crunch. The UK’s economy may slow, but...