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The current residential mortgage market, with lenders exercising caution and buyers typically short of cash resources, is proving to be somewhat of a boon for owners of buy-to-let properties. It is difficult for first-time buyers especially, as they have no equity in real property to trade on and the deposit required to get an affordable home . . . → Read More: Owners of buy-to-let properties benefiting from the downturn  More people are finding that by the time it gets to the end of the month their current account has run out of money and they are having to make bill payments that they cannot afford. This has lead to an increased number of people using their savings or turning to credit card lending to deal . . . → Read More: Savings and credit cards are keeping people going in the recession The number of available homes within the budget of first time buyers (FTB) in towns and cities across the United Kingdom has risen to the highest point since 2003. According to a study, the North Eastern region of the country is currently the most affordable to FTB’s while homes in London are beyond the reach of . . . → Read More: First time buyers have a chance in some towns It is said that people are more likely to go through a divorce than they are to change their bank account. Consumer Focus has conducted a study and it seems that the statistics support the saying. Their study revealed that in the past two years, less than ten per cent of people had changed their current . . . → Read More: Consumer Focus says people divorce more often than they move banks The Office of Fair Trading (OFT) has recently recorded a 50% increase in the number of complaints from people about online loan scams. The scams operate online and customers are enticed in by the companies offering loans without needing a credit report. The scam websites will then ask for a fee in advance and once they . . . → Read More: Online loan scams up by 50% Andrew Oliver, the senior partner of deVere Spain, which is part of the global deVere group, has said that the markets are being well and truly battered and trillions of pounds are being wiped off share prices across the globe. deVere are the largest independent and international financial consultancy group in the world, so Oliver knows . . . → Read More: deVere says that pensions continue to take a battering The news has emerged that the UK’s police forces could be facing bills of up to tens of millions of pounds from insurance companies. The reason for this is that claims have been put into these companies for properties damaged in the riots, but the damage is deemed to have been caused because the police failed . . . → Read More: Insurance companies turn to police for riot compensation As the cost of living goes ever skyward, the levels of personal debts are also rising constantly, especially in the credit card sector. Despite the interest rates hitting an all-time high, nearly 35% of us are now flashing the plastic to take care of everyday living expenses instead of keeping them for emergencies or special purchases. If . . . → Read More: People turn to credit cards for day to day expenses Egg, the internet bank, has had what remained of it purchased by the Yorkshire Building Society from Citigroup. The credit card business for Egg was purchased by Barclaycard earlier in the year and the savings and mortgage business will be taken over by the building society this autumn, with the deal subject to the approval of . . . → Read More: Yorkshire Building Society collects EGG |
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