Mortgage Rates Increased By Certain Lenders On Their SVR Products
More and more lenders are putting up the mortgage rates on their own standard variable rate mortgages, despite the base rate staying at 0.5%. This is despite the fact that traditionally, Lenders apply have always used the base rate as a measure of their own rates. This increase has gone unnoticed by thousands of homeowners [...]
The recent news about the Pakistan Cricket team match fixing allegations appears to be more shocking than first thought. It now appears that the alleged match fixers may have made up to £20 million for their co conspirators, whilst securing a share of around £6 million for themselves. Mazhar Majeed was filmed by a Sunday [...]
A new computer system has found that 6 million people have paid the wrong amount on their taxes and 4.3 million have actually overpaid and will be due rebates. The errors were found due to a newly implemented computer system that checked employer’s payments in HM Revenue and Customs (HMRC) pay as you earn system (PAYE). Those employees who changed jobs were the most likely to have tax payment errors.
The warning of a possible double dip recession seemed closer to reality with the latest insight to the state of the economy. The construction industry showed a slowdown in business. Also the service sector cut jobs and housing prices fell. It could be that economic growth will soon disappear and the economy will see another recession.
The AA has reported that due to the increased number of fraudulent claims, car insurance premiums have increased 11.5 per cent over the last 90 days. The average price of a normal, comprehensive coverage, car insurance premium for the year is just over 700 pounds. This cost has increased more than 30 per cent over the last 12 months. It is quite possible that the basis for the increase in premium is comparison websites encouraging fraud.
In today’s shady economy, the financial wolves have turned to life insurance as a main hard sell. Lending is right down, house prices are dropping, first time buyers cannot get on the property ladder and people find it hard to get credit cards. Mortgage brokers are going to the wall daily, mostly due to the [...]
The government’s Banking Commission, chaired by former Bank of England economist John Vickers, has publicly announced that a decision may be forthcoming requiring that banks split up their investment and retail sectors. This requirement would be for all UK banks and not just those that received government bailout money. HSBC has issued a strong statement that if required to split the bank, they would relocate out of London.
