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- Government working for homeowners, say estate agents - 4th December, 2008
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An independent association of estate agents has welcomed yesterday's housing announcements by the Gordon Brown, saying they will be help protect those with property investments.
A spokesperson for the National Association of Estate Agents (NAEA) said: "The prime minister's decision to underwrite mortgage repayments for the thousands of homeowners currently facing repossession is extremely welcome at what is a difficult time for many."
The NAEA spokesman added that the move would be strengthened by the fact that eight major mortgage lenders - including HBOS, Abbey and Nationwide - have been persuaded to go along with the government's plans.
Gordon Brown's new plan means that homeowners who suffer from a sudden drop in income - if they lose their job for example - will be able to defer all or part of the interest on their mortgage repayments for up to two years... - Brits are paying off their debts, says new study - 4th December, 2008
A new survey released today reveals that Brits as a whole are using savings to pay off their debts as the realities of the credit crunch hit home.
... - Consumer website calls for drop in mortgage rates - 3rd December, 2008
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A leading consumer website has called for "a root and branch reform of UK banking" and said that mortgage rates should fall.
Despite the Bank of England's cut in the base rate of interest, banks have been justifying not cutting the rates on their standard variable-rate mortgages by saying that the London Interbank Offered Rate (Libor), at which banks lend to each other, is too high... - 'A loan is for life, not just for Christmas' - 3rd December, 2008
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Citizens Advice has warned shoppers to be careful when borrowing money over Christmas and to make sure they can afford to pay it back when the festive fun is over.
According to Citizen's Advice, the post-Christmas period always sees a huge surge in new debt enquiries and their advisers are warning to consumers to compare loans carefully and read the small print to make sure they are not saddled with insurmountable debts in the new year... - Loans 'become more expensive' - 28th November, 2008
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A price comparison website has issued a warning to potential borrowers, saying that loans have become more expensive in recent weeks.
According to research conducted by moneysupermarket.com, the average cost of interest on a personal loan has risen to almost double the base rate amount since September this year... - Nationwide welcomes government announcement on mortgage lending - 25th November, 2008
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Nationwide, one of the UK's leading mortgage lenders, has welcomed the government's proposals on mortgage lending, which the chancellor unveiled in yesterday's pre-Budget report (PBR).
According to the building society, the formation of the lending panel will help consumers as well as benefitting the industry, as will the government's proposed £15 million commitment to offer free debt advice to borrowers... - Quality of life 'is best in Elmbridge' - 24th November, 2008
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A survey has revealed that residents of Elmbridge, in Surrey, have the best quality of life in the UK.
The survey, which takes financial factors such as house prices and average salary expectations into consideration as well as life expectancy and education, was conducted by the mortgage provider Halifax.
According to the study, which looked at local authorities across the country, residents of Elmbridge earn £1,048 per week on average, as well as living in larger than average houses and having children who score better than average GCSE results.
Martin Ellis, chief economist at Halifax, said that living in Elmbridge comes at a price, as property prices in the area are more than £170,000 above the average for the south-east... - HSBC will cut standard mortgage rate - 21st November, 2008
HSBC has announced cuts in the standard rate of interest on its mortgages, as well as a range of other packages which it claims could help cash-strapped customers through the credit crunch....
- Lloyds shareholders approve HBOS takeover - 20th November, 2008
Lloyds shareholders approve HBOS takeover
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Lloyds TSB shareholders have voted in favour of the proposed acquisition of HBOS, a move which paves the way for the creation of a 'super-bank' that may free up the flow of mortgages and cheap loans once more.
The resolution on the takeover, which the government helped to negotiate earlier this year, was passed with a significant majority... - Credit crunch worries women more than men - 18th November, 2008
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A study released recently has revealed that women are worrying more about their financial situation during the credit crunch than men.
The research, conducted by Moneywise.co.uk, showed that 43 per cent of women were worried about the state of their finances, including savings accounts and property investments, compared to only 25 per cent of men.
Equally 58 per cent of male respondents said they felt confident about their financial situation, compared to just 26 per cent of women...