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September 28, 2007
by Elaine Frei
European equities markets were mixed on Friday in the last trading session of the week. The FTSE Eurofirst 300 fell 0.1 percent to 1,549.87, and while the Dax added 0.1 percent to 7,861.51 in Frankfurt, the IBEX fell 0.03 percent to 14,576.5 in Madrid and the Paris CAC-40 dropped 0.31 percent to 5,715.69. Equities markets in London were lower ...
by Gill Montia
The Land Registry's latest figures compiled from residential property sales, supports earlier claims by the Nationwide Building Society that house prices continued to rise in August, despite the credit squeeze.
The data shows average house prices in England and Wales increasing by 0.2%, bringing the cost of the average English or Welsh property to £182,914.
The rise compares with a gain ...
by Gill Montia
Despite gloomy forecasts about the UK property market, the latest survey by Nationwide, the UK's largest building society, shows house prices rising at their fastest pace in three months.
The mortgage lender has reported that the cost of a home rose by 0.7% between August and September, bringing the average price to £184,723.
Fionnuala Earley, Nationwide's chief economist, described the reasonably strong gain ...
September 27, 2007
by Elaine Frei
Europe’s markets were higher on Thursday. The FTSE Eurofirst 300 was 0.72 percent higher to 1,550.68. In Madrid, the IBEX gained 0.48 percent to 14,582.9. The Dax was up 0.64 percent to 7,853.79, while the Paris CAC-40 added 0.75 percent to 5,733.37. In London, the FTSE 100 added 0.83 percent to 6,486.4 and the FTSE 250 was up 1.38 ...
by Kay Murchie
Despite assurance from the Bank of England that money held in Northern Rock deposits is safe, it is anticipated that there is £57 billion available as savers look to other banks to put their money in, according to Abbey.
Consequently, the UK’s biggest high street banks are the winners following the Northern Rock crisis. The UK’s third-biggest bank, Barclays, has ...
by Kay Murchie
Equity release gives people access to the value they have built up in their home for their own use and is a choice for many looking to maintain or create a better lifestyle or to meet an unexpected financial need.
According to research from Norwich Union, those aged 60 and above have a collective £841 billion tied up in their properties. ...
by Kay Murchie
Direct Line is to launch some new commercial insurance policies so small businesses will soon be able to benefit. The policies are to be sold through the umbrella brand Direct Line for Business and are aimed at sole traders and partnerships which are owned by those who also manage their businesses.
Shop insurance, tradesman insurance, residential and commercial property insurance are ...
by Kay Murchie
There are still delays with Isa transfers admitted the Nationwide in spite of the building society promising that the problem was sorted. Graham Beale, the chief executive, apologised to customers for the delay and said there are around 130 cases waiting to be completed. Some transfers are taking up to several months.
The chief executive said the backlog was due ...
by Gill Montia
The Association of Home Information Pack Providers is urging the Department of Communities and Local Government to extend the requirement for Home Information Pack (Hips) to all UK homes.
The controversial scheme has been apposed by Estate Agents, the Royal Institution of Chartered Surveyors and some mortgage lenders, who are questioning the validity of the searches contained in the packs.
Hips were introduced for four-bedroom homes in August ...
by Gill Montia
Mark Clare, chief executive of house builder Barratt Developments, has spoken out about prospects for the UK housing market, post the Northern Rock crisis.
He sees the crisis and the shortage of credit on the money markets as likely to cause a reduction in demand for new homes, and even a fall in house prices.
Whilst Mr Clare believes that the ...
September 26, 2007
by Elaine Frei
In Europe, equities markets were higher on the session. The FTSE Eurofirst 300 was 0.65 percent higher to 1,539.28. Frankfurt’s Dax was up 0.45 percent to 7,804.15, while the CAC-40 added 0.87 percent to 5,690.77 and the IBEX jumped 1.59 percent to 14,540.5 in Madrid. London’s markets were higher as well. The FTSE 100 added 0.56 percent to 6,433 ...
by Kay Murchie
Nationwide Building Society merged with Portman Building Society last month. Nationwide will continue in its capacity as a mutual building society and, as a result of the merger, has become the UK’s second largest retail mortgage lender and second largest retail savings provider.
Following the merger, over one million windfall cheques averaging nearly £500 were posted to former members of Portman ...
by Kay Murchie
Insurer OAMPS UK has acquired Keith Johnson & Co Ltd (KJ). David Barrett, the Managing Director of OAMPS said the acquisition will expand the scale of their Reigate operations and is a step towards the continued growth of their insurance broking operations in the UK.
Mr Barrett added that they are pleased to welcome the staff of Keith Johnson to OAMPS UK. They are ...
by Kay Murchie
According to research by moneysupermarket.com, homeowners can benefit with a little savvy spending.
Banks are currently fighting for savings, current account and credit card business and according to moneysupermarket.com, opting for a credit card with a 0% purchase offer and investing the equivalent amount of money in a current or savings account is an extreme case of banks paying ...
by Gill Montia
Amid forecasts that the UK housing market is due for a "period of correction" Stroud & Swindon, the building society, has calculated that in ten year's time first-time buyers in London will need approximately £1 million to buy a home.
The figure is based on house price growth in the capital for first-time buyers between 1997 and 2007 and uses the same ...
September 25, 2007
by Elaine Frei
Wall Street was mixed in midday trade on Tuesday. The Dow Jones Industrial Average was 0.1 percent lower to 13,745.24 after falling even more earlier in the session, and the S&P 500 had dropped 0.34 percent to 1,512.61, but the Nasdaq Composite was 0.04 percent higher to 2,668.9.
European equities markets declined on Tuesday as commodities-related ...
by Kay Murchie
Research from Moneysupermarket.com, the comparison site, have discovered that consolidating existing debts is a waste of time as those doing so will end up owing even more money.
The research showed that over 8 million people consolidating debt end up taking on more and over 5 million believe that they will always be in debt.
Moneysupermarket.com established that 12.7 million of Britons have ...
by Kay Murchie
60% of parents have admitted that they would think about insuring their child’s car in their own name and then adding the child as a named driver. This would reduce the cost of the car insurance but is against the law and parents doing this practice, known as “fronting”, risk fines.
A spokesperson for the insurance comparison website, gocompare.com, ...
by Gill Montia
The Association of Rental Letting Agents (Arla) is predicting continued expansion of the buy-to-let sector, as the majority of investment landlords plan to expand their portfolios in the coming months.
Despite recent interest rate rises, most buy-to-let investors believe the cost of loans will remain relatively low and 54% of those responding to the Arla survey were still seeking to increase their property holdings.
In addition, ...
by Kay Murchie
Britain's biggest credit card issuer, Barclaycard, has slashed customer spending limits following a crackdown on consumer credit. Furthermore, it is rejecting applications for new cards.
Consumer borrowing has escalated over the last 10 years and currently stands at approximately £1.4 billion.
A spokesperson for Barclays commented that they have undergone a strict review since 2006 and lowered credit limits for half a ...
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European equities markets were mixed on Friday in the last trading session of the week. The FTSE Eurofirst 300 fell 0.1 percent to 1,549.87, and while the Dax added 0.1 percent to 7,861.51 in Frankfurt, the IBEX fell 0.03 percent to 14,576.5 in Madrid and the Paris CAC-40 dropped 0.31 percent to 5,715.69. Equities markets in London were lower ...
Europe’s markets were higher on Thursday. The FTSE Eurofirst 300 was 0.72 percent higher to 1,550.68. In Madrid, the IBEX gained 0.48 percent to 14,582.9. The Dax was up 0.64 percent to 7,853.79, while the Paris CAC-40 added 0.75 percent to 5,733.37. In London, the FTSE 100 added 0.83 percent to 6,486.4 and the FTSE 250 was up 1.38 ...
In Europe, equities markets were higher on the session. The FTSE Eurofirst 300 was 0.65 percent higher to 1,539.28. Frankfurt’s Dax was up 0.45 percent to 7,804.15, while the CAC-40 added 0.87 percent to 5,690.77 and the IBEX jumped 1.59 percent to 14,540.5 in Madrid. London’s markets were higher as well. The FTSE 100 added 0.56 percent to 6,433 ...
Wall Street was mixed in midday trade on Tuesday. The Dow Jones Industrial Average was 0.1 percent lower to 13,745.24 after falling even more earlier in the session, and the S&P 500 had dropped 0.34 percent to 1,512.61, but the Nasdaq Composite was 0.04 percent higher to 2,668.9.
European equities markets declined on Tuesday as commodities-related ...