| News Archive From October 2007
- UK consumers not keen on longer term fixed rate deals [29.10.07]
According to recent figures the majority of consumers in the UK tend to shy away from lender term fixed rate mortgage deals, despite the Chancellors determination to make such deals more commonplace and accessible to consumers in a bid to increase affordability and financial stability for homeowners
- Sharp drop in mortgage lending for September [29.10.07]
According to the latest figures released by the Council of Mortgage Lenders September saw a sharp drop in mortgage lending, which many experts state is yet another sign that the housing market is cooling down.
- One MPC member wanted to cut interest rates [26.10.07]
The minutes from the last Monetary Policy Committee meeting, which took place at the beginning of October, has shown that one member of the committee voted to actually lower interest rates by 0.25% this month.
- Loan companies using aggressive tactics to recover money [26.10.07]
A recent report has highlighted how some lenders have been using aggressive tactics and below par methods in order to try and recover money owed by customers.
- No golden handshake for Ridley [24.10.07]
Former chairman of stricken bank Northern Rock will not be receiving a golden handshake after resigning late last week.
- House prices continue to tumble [20.10.07]
House prices in certain parts of the UK are continuing to tumble according to a recent report from the Royal Institute of Chartered Surveyors.
- The Rock raises its rates [20.10.07]
Stricken high street lender Northern Rock has been branded the worst offender in the pool of banks that have raised their unsecured lending interest rates over the past few weeks.
- Picture Loans banned from running TV ad [17.10.07]
Picture Loans, a secured UK lender, has been pulled up by the advertising agency over one of its TV ads, after being accused of making taking out finance sound light hearted.
- Barclays cuts it loan rates [17.10.07]
Major high street bank Barclays has announced that whilst its rivals are busy increasing interest rates on personal, unsecured loans as a result of the credit crunch that has hit the UK it is actually cutting the interest rates on its personal loans.
- Consumers prefer fixed rate deals to cheaper tracker mortgages [16.10.07]
According to the results of a recent survey the vast majority of consumers in the UK would prefer the safety net of a more expensive fixed rate mortgage deal over the uncertainty of a cheaper base rate tracker mortgage, despite the predictions that interest rates may fall in months to come.
- BoE needs to cut interest rates [09.10.07]
The Ernst & Young Item Club, an economic forecasting group in the UK, has stated that the Bank of England now needs to start looking at cutting interest rates in order to lift the economy, amidst fears that growth in the UK could fall by 1% in 2008.
- Personal loan rate rocket as a result of credit crunch [09.10.07]
According to recent reports the interest rates on many personal loan have rocketed recently as the result of the global credit crunch that was sparked in the United States and has started to take its toll in the UK and in other countries
- Interest rates remain on hold for October [08.10.07]
The Bank of England has announced that interest rates for October will remain on hold at 5.75%.
- New DAR interest rate measure proposed [06.10.07]
The Council of Mortgage Lenders has revealed the proposal of a new interest rate measure that could be used to calculate the cost of borrowing as an alternative to the current APR system.
- Experts predict hold on interest rates [06.10.07]
Following the series of five interest rate rises of 0.25% each over the past year, many industry experts are nor predicting that the Bank of England will keep interest rates on hold for the rest of this year.
- Time ran out for fans of Toyota or Lexus hybrid vehicles [03.10.07]
Sept. 30 was the last day you could get any tax credit for purchasing one of the automaker's fuel-efficient vehicles.
- Mortgage Holders Advised to Fix [01.10.07]
As Northern Rock savers queue to remove their savings from the bank, and as mortgage rates start to creep up again, experts are advising home owners to stick to fixed rates in the short term.