Student loan interest rate doubles
September 19, 2007 | Leave a Comment
Hundreds of thousands of students will be taking out loans this year to pay for their forthcoming years in further education, and they will be doing so at an interest double that of 12 months ago.
Concern over buy and rent back schemes
September 18, 2007 | Leave a Comment
With the numbers of families facing repossession on the increase, there is concern about the growing ‘sell and rent back’ market. Businesses in this arena offer to buy properties from those struggling to meet their mortgage repayments and then lease them back to save them having to move out of their home. The worry is that these firms take advantage of the desperation of the sellers by paying them well below market value, with figures paid in some cases being only a quarter of the real worth of the property. Even worse problems can follow. For example the company may suggest a reasonable rent for the first six months, but then whack the rent up after that time, forcing the family to move out anyway. Then the firm is able to sell the property on for a vast profit. The family, meanwhile, is left without a home, and without enough money to buy another home.
Is Mervyn King too tough?
September 17, 2007 | Leave a Comment
Is Mervyn King too hawkish? A former member of the Bank of England’s Monetary Policy Committee (MPC) has said that the MPC is just that and likely to raise interest rates too far. His concerns about managing inflation would mean that he would be more hawkish than required.
French inheritance tax changes will benefit Brits
September 14, 2007 | Leave a Comment
UK owners of French holiday homes will benefit from a change in the country’s inheritance tax laws. The threshold has gone up by 200% from 50,000 Euros to 150,000 Euros per parent per child.
Northern Rock raises rates on sub-prime lending
September 13, 2007 | Leave a Comment
Troubled high street lender Northern Rock has put up rates on its fixed-rate loans, and consigned to the bin its trackers for borrowers with poor credit history. This move signifies a scaling down of sub-prime mortgage business for the company.