The massive financial burden is a result of the average size of a deposit rising to 24% - the largest amount ever required.
It means they are being asked to put down a deposit of around £30,000 to buy a property worth £128,000.
But once mortgage payments are added on top, this is more than the […]
Despite the ongoing stock market bedlam embattled investors appear be taking a more aggressive approach to investing in the next tax year.
Given that the Bank of England has continually been hacking away at the bank rate since last October, the sentiment should arrive with minimal surprise.
With interest rates now standing at a […]
It's difficult to know where to draw the ethical line in the current economic climate should we be helping stores to stay afloat, or taking advantage of the massive savings to be made?
When it comes to our pockets, I think we all know the answer to that one and handily even […]
It also predicts a deep recession lasting throughout next year and a ‘very real probability’ that Britain will go bankrupt.
The report leaked yesterday from financial analysts Numis Securities says that the collapse in house prices is not ‘anywhere near over’.
They have already fallen 21% from their peak, but the report says they will slump […]
The vast majority of firms say they have insufficient assets to meet their pension promises, with only 9% of companies still having a surplus.
The figures from the Pension Protection Fund, the body created to bail-out bankrupt pension schemes, revealed a ‘black hole’ of £219bn facing almost 7,800 final salary schemes.
This is up from £191bn […]
Due to the recent recession, the whole economy has been jeopardized and lenders are under extreme pressure by the Federal regulators, as well as their investors to turn their bad loans (non-performing assets) to good loans (performing assets).
The process of a foreclosure in the present economy is not an easy job. One hundred percent financing […]
With the economy battered by the banking crisis, the Government announced in last year’s Pre-Budget Report that it would cut VAT from 17.5% to 15% in a bid to encourage spending. It came into effect on 1 December 2008 and lasts for 13 months, until 1 January 2009.
The move was predicted to save […]
Writing in the Daily Mail, Deputy Governor Charlie Bean says the Bank will ‘easily’ be able to prevent a new bout of runaway price rises by reselling the assets it plans to buy with the fresh cash.
‘As the economy recovers, so we will probably need to remove some of the extra money in order […]
The wholesale charge that BT imposes on rivals to run internet and telephone services over its network is to rise by more than 35% by 2012.
The increases have brought a warning that as many as 800,000 households will effectively be priced out of having a broadband link to their home.
The criticism is based on […]
The deal was intended to save HBOS from collapse but instead the once successful Lloyds has been dragged down with its former rival.
Over the weekend Lloyds was effectively nationalised after the Government agreed to take a stake of up to 77% in return for a £260bn bailout.
Meanwhile, the portfolios of more than […]
© 2008 Daily Financial News