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 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 […]
Bags from expensive designer clothing stores appear randomly around your home and you get the sinking sensation your wife often tells white lies about her whereabouts.
There are strange calls to the house which she responds to awkwardly and quickly dismisses. Is it an affair? Something is wrong but you don't quite know how […]
Savers are being hit hardest, with average branch rates for an instant access account plummeting to just 0.17% in February compared with 2.69% a year ago.
But customers who go overdrawn on their current accounts are being stung by average rates of 18.62%, according to the Bank of England, up from 17.58% this time last […]
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 […]
Accountancy giant PricewaterhouseCoopers reckons the total annual tax rise needed because of the deepening black hole in the Treasury finances could reach £25bn.
Its report today, which warns that the banking crisis and recession are placing the public finances under ’severe strain’, follows claims in the Commons last night that Labour’s latest bank bail-out means […]
Spencer Winfield at stockbroker Charles Stanley replies: Warren Buffett, arguably the most famous US fund manager, once said that to be a good investor ‘one should be fearful when all around you are greedy and greedy when all around are fearful’.
It is presumably with this sentiment in mind that some investors started […]
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 […]
The news comes as the battle to attract savers’ cash Isa money hotted up yesterday, with a best-buy cash Isa launch from Barclays.
However, Barclays was one of the banks mired in cash Isa delays during the spring of 2007 and 2008, after it launched best-buy Isas in March and could not deal […]
© 2008 Daily Financial News