Property market set for hard times
October 17, 2007 | Leave a Comment
The property market looks like having a hard time of things over the next year or two after the number of mortgage approvals fell by 14% in August. According to the British Bankers’ Association the number of approvals given the go-ahead for home purchases in the month was 61,051, down from 71,178 in August last year.
Banks compensation scheme needs better funding
October 16, 2007 | Leave a Comment
The crisis at Northern Rock could lead to improved compensation for savers, but higher mortgage rates and lower savings rates.
New home demand will fall, say Barratts
October 15, 2007 | Leave a Comment
Britain’s biggest housebuilder, Barratt Developments, has warned that the problems of credit and the crisis at Northern Rock will have a detrimental effect on the demand for new homes, which could prices down.
Financial famine
October 12, 2007 | Leave a Comment
Banks are beginning to force the issue for mortgages and loans in the wake of the credit crunch. Fears for bad debts are causing banks to turn away business, cut lending limits and push up interest rates.
With-profits customers lack advice
October 11, 2007 | Leave a Comment
The Financial Services Consumer Panel (FCSP) has reached some damning conclusions about with-profits funds. The body, set up by the Financial Services Authority says that around eight million of the 11m with-profits customers with fairly modest investments cannot afford advice and therefore lack guidance about what to do with their funds.