Thousands of customers seeking tracker-rate mortgages will fail to see the benefit of predicted rate cuts, as some lenders are withdrawing or changing tracker-rate mortgages to avoid passing benefits on. In the run-up to the Bank of England’s decision today to lower interest rates to their lowest ever levels, Cheltenham & Gloucester, HSBC and First [...]
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Monthly Archives: January 2009
More council tax debtors made bankrupt
Thousands more householders are being made bankrupt as councils increasingly turn to legal action and bailiffs to collect unpaid council tax arrears. Figures obtained under Freedom of Information legislation by the Liberal Democrats showed that last year across England and Wales 3,500 householders were pursued for bankruptcy or made bankrupt by their town halls. Debt [...]
Merry Xmas and a Pukka New Year?
It makes a refreshing change to hear of success in a time of failure. In the midst of the reports of Wedgwood folding, Woolworths folding, M&S cutting jobs, Currys on the rocks, Adams on the brink etc.etc, it was great to see that at least somebody seems to have got it right. In the 13 [...]
Energy bills set to fall in 2009
Energy providers offered a ray of hope to consumers that energy bills may come down this year, as Scottish Power dropped the cost of one of their tariffs by 10 per cent. Similar reductions of between 10-15 per cent are expected across the board, as many other providers pass on savings from the drop in [...]
Government mortgage help widened
Handouts from the government will now be made available sooner to homeowners struggling with their mortgages after losing their jobs. The time taken to receive the Government’s Support for Mortgage Interest benefit, has been reduced by two-thirds to 13 weeks and has also been increased to £200,000 – double the previous mortgage limit – which [...]
Gone to Pot?
et another household name has joined the list of fatalities caused by the recession. The news that Wedgwood is calling in the administrators came as a bit of a surprise. Whoever would have thought that the producers of Wedgwood Pottery, Royal Doulton Pottery and Waterford Crystal could come to such a sorry pass? It just [...]
Price Wars!
Every cloud has a silver lining, even in a Recession. 2009 is forecast to be a traumatic time with experts predicting that 1600 more shops will fold, following in the footsteps of Woolworths and MFI, which is a 20% increase on 2008. Competition out there will be fiercer than ever and in the inevitable price [...]