Credit Crunch and House Prices

Christmas is not far away now. But the ongoing credit crunch is making life of plenty of hard working British people a misery.
It would be ok if they were not remind by every newspaper and every news channel on land how many jobs are going to go and how many companies are facing close [...]

Historic First For Bank of England On Its Way

The Bank of England was established in 1694. And in its history it has never set the official interest rate below 2%. Is the Bank going to create history by lowering the rates below their current 2 per cent for the first time ever?
Financial markets think so. Because they are dumping the Sterling in favour [...]

New Credit Card Code: How It Can Help You?

Government has forced credit card companies to sign up to a new code of conduct. What does this mean for the consumers?

Is this going to lower the rates people pay on their cards? Unlikely. Despite the new code of conduct, companies have not been forced to lower rates. Some are still charging 15-17% [...]

Are Zero Per Cent Rates On Their Way In?

British economic woes are set to deteriorate in coming months. The National Institute of Economic and Social Research (NIESR) says that the country is heading for a recession at least as bad as in early 1980s.
NIESR is one of Britain’s largest independent economic research bodies. It says that the main problem government needs to [...]

Estate Agents Are Selling Only One House a Week… if Lucky!

UK house sales are now at their lowest since 1978.
Estate agents sold only 10 houses on average in the last 3 months despite the Bank of England rate cuts, according to RICS. New mortgage approvals have been as lower in over a decade, if not lower.
After all no one can blame a lack [...]

Commercial Property Prices May Fall a Further 25%

Thanks to by a sharp drop in rents, the commercial property market will see at least a 16% decline in capital values in 2009 and a further drop of up to 10% in 2010.
This has been claimed by RICS in its commercial property forecast published today.
Quote from the report says:
Rising defaults and [...]

How to Prevent the Decline of the Value of Your House

With the current condition of the real estate market today, many are concerned about the value of their homes. Although they would want to keep their house for a long time, there are unavoidable circumstances that will lead the homeowner to sell his house.
When the time comes to sell your house, you want to profit [...]

Government Starts Calling Shots on Bank Lending Policies

After owning almost 58% of Royal Bank of Scotland (RBS), government has started to call shots on its lending and other policies. It is also reviewing its business strategy closely.
At the time of rescuing the bank, govt has demanded bank to make commitment to lend to homeowners and small businesses at 2007 levels. And [...]

Good News: Bank Gives 6 Month Respite to Struggling Home Owners

Here is a bit of good news for the struggling home owners facing repossession. Royal Bank of Scotland (RBS) group won’t be harsh as they might have been in the past.
Bank’s chief executive Simon Hester has announced in Financial Times this morning that if their customers are unable to re-pay their mortgages, they will be [...]