Drop in mortgage approvals
The has been a marked decrease in the amount of mortgages being approved for the month of August 2007, the drop was around 14.2% which in fact is the lowest approval rate since 2000. This could be a sign that the banks and building societies are getting stricter in the criteria that they are using [...]
September 27, 2007Bank of England loan auction
A new facility is being put in place by the Bank of England today, the emergency fund has been put in place by the Governor of the Bank of England, Mervyn King.
But the banks who only a few days ago were crying out for help are expected not to be taking up any of the [...]
Evidence of mis-selling emerges
As if the problems with the sub prime loans market in the US were not enough, it is now emerging that there has been some serious problems related to the UK sub prime market.
It appears that potential new borrowers are being told to inflate their incomes in order to secure a more substantial loan. This [...]
Arsenal the worlds 2nd richest club
The Gunners have seen their turnover increase to a massive £190 million, which places them behind the Spanish giants Real Madrid as the world’s richest football club.
The growth has come from moving their ground from Highbury to the brilliant Emirates Stadium. Which at a stroke increased business by 50%, this placed them above Manchester Utd [...]
Banks should show “Sub Prime” exposure
The head of the Financial Services Authority (FSA) Callum McCarthy has said that the Banks should explain their exposure to the US banking problems with the Sub Prime mortgage sector. As this would show the scale of the problems that the banks have and thus prevent any repeats of a Northern Rock type run on [...]
September 19, 2007People blamed for banking security breaches
In a survey conducted by the financial services advisory firm Deloitte, it has been determined that people and not machines are responsible for the majority of banking security breaches. This means that both employees and customers are being held responsible.
It would seem that 91 percent of those surveyed are concerned about security risks, and around [...]
Interest rate cut in the US
All eyes will be on the US Federal Reserve today as they are expected to lower interest rates. With the financial world in turmoil over the past week or so. Some people may think that this move, if it happens, may be considered as a panic, rather than a purely financial related decision.
How this move [...]
Jamaica to become offshore banking hub
Following the election of the new Prime Minister, Bruce Golding. The Jamaican government have plans to add their country to the list of the already successful offshore banking islands in the Caribbean.
The island has had mixed fortunes over the years but recently due to slow growth and a rise in crime they have been suffering. [...]
Getting out of debt
There are so many ads these days that state that debts can be eliminated easily and quickly. Which is one thing that people in debt wish to do and they will pay anything to get out of that situation. Which they frequently do but without the desired results.
The main things to do are, cut up [...]
The problem with wills
According to research done by the charity Age Concern and some financial services experts, there are around the two thirds of adults in the UK who have not got a will. Ordinarily this would not seem to be that serious, and in the past it really wasn’t. But today there are so many homeowners and [...]
September 11, 2007UK worries about debt
It is a sign of the times that the citizen’s advice centres across England and Wales have seen their phones ringing twenty per cent more in 2006 than the year before, with the total amount of calls reaching 1.7 million.
Forty per cent of the calls were concerning credit cards and loans that are secured on [...]
Umbro looking for England victory
Management at Umbro will be hoping for an England win in the two Euro 2008 qualifiers against Israel and Russia over the next week or so. As sales of the England football shirts have not hit the targets that the company had expected. They have in fact only sold 35% of their stock, whereas they [...]
September 6, 2007Bad English cost business £14 billion per year
It is a sad fact that badly written letters and other sorts of communication materials from UK businesses are costing them heavily in fact according to the Plain English Campaign it is estimated that this sort of problem could be costing UK businesses around £14 billion per year, which is enough to make anyone look [...]
September 4, 2007Police chiefs plan to educate officers
Plans to give police officers lessons in personal finance have been branded a waste of time by the police union, the Police Federation.
The Association of Chief Police Officers (ACPO) are due to start a nationwide programme of financial education training in conjunction with the Financial Services Authority (FSA), whose trainers will visit all of the [...]
Finance broker stole £475,000
He was based in a virtual office in Leatherhead, but that did not stop Kevin Redbond from stealing nearly a half million pounds by using his knowledge of the auto sales industry.
By taking down the registration numbers on unsuspecting car owners, he was then able to arrange finance for these vehicles and pocket the money [...]