Tag: help

Barratt homebuying scheme allows parents to borrow on behalf of kids

Barratt homebuying scheme allows parents to borrow on behalf of kids

Barratt Developments has announced a tie-up with Hitachi Capital (UK) that will allow parents to borrow money to help their children onto the property ladder. The developer claims the scheme is unique in the market, having been specifically designed to address current mortgage restrictions on loan-to-value ratios. Barratt sold 4,832 homes during the second half [...]

January 13, 2011 | 0 Comments More
China pledges to help euro zone

China pledges to help euro zone

China has said it is prepared to support the euro zone, a spokesperson for the Chinese Foreign said today. Foreign ministry spokeswoman Jiang Yu said: “We are ready to support the euro zone to overcome the financial crisis and realise economic recovery” and suggested the country will buy more euros in the future. China has [...]

December 23, 2010 | 0 Comments More
Mortgage detail beyond most home owners

Mortgage detail beyond most home owners

Three-quarters of mortgage holders don’t know how an interest rate rise of 1% would affect their monthly outgoings, according to new research from the Consumer Financial Education Body (CFEB). The study also found that over half of home owners questioned expect rates to change in the next nine months, although one in seven had no [...]

July 7, 2010 | 0 Comments More
Obama approves housing aid for five US states

Obama approves housing aid for five US states

Approval has been given by the Obama administration to help areas affected by the housing bust, as part of a $1.5 billion programme. According to Treasury sources, plans for Arizona, California, Florida, Michigan and Nevada have received approval. Under the scheme, more than 90,000 homeowners are set to benefit broken down as follows:- California will [...]

June 23, 2010 | 0 Comments More
Bond markets hit by ongoing Greek debt fears

Bond markets hit by ongoing Greek debt fears

There are renewed fears over the Greek debt crisis after a hammering of bond prices by investors took the yield on short-term Greek debt up to 8% yesterday - almost 3% higher than in October 2009. There is now speculation that Greece will be seeking a bailout sooner rather than later with one analyst suggesting [...]

April 9, 2010 | 0 Comments More
Euro falls as Greece warns it could seek IMF help

Euro falls as Greece warns it could seek IMF help

The euro tumbled again today after Greek Prime Minister, George Papandreou, warned that Greece might have to seek help from the International Monetary Fund (IMF). The currency fell to 1.3648 dollars, before recovering to 1.3692 dollars, however it was still down from 1.3735 dollars late in New York yesterday. Today, Mr Papandreou told the EU [...]

March 18, 2010 | 0 Comments More
Barclaycard ‘the only winner’ from helping-hand scheme

Barclaycard ‘the only winner’ from helping-hand scheme

Barclaycard’s claim to be lending a helping hand to customers in financial difficulties are little more than a sham to boost the company’s coffers, a financial expert has claimed. The credit card provider has launched a new advice line targeting customers who are close to their credit limit or who are failing to clear their [...]

August 12, 2009 | 1 Comment More
Homeowners reluctant to seek help over mortgages

Homeowners reluctant to seek help over mortgages

Homeowners struggling with mortgage repayments can be shy in talking about their difficulties, despite pleas from lenders and debt charities to seek help and advice early. According to research from the Financial Services Consumer Panel (FSCP), 41% of those having difficulty paying their home loans struggle on unaided, even though seven out of eight borrowers [...]

July 8, 2009 | 0 Comments More
SMMT reports 22% fall in UK car sales

SMMT reports 22% fall in UK car sales

Figures released today by the Society of Motor Manufacturers and Traders (SMMT) have revealed further bad news for the UK car industry. According to the organisation, new registrations fell 21.9% in February, compared with the same month last year. The industry has been hit badly as the economic downturn has meant that consumers have cut [...]

March 5, 2009 | 0 Comments More
New help for jobless homeowners

New help for jobless homeowners

The Government is improving the help available for homeowners facing mortgage arrears, and ultimately repossession, because they have lost their jobs. Changes to Support for Mortgage Interest (SMI) were outlined last year and due to take effect from April 2009 but the worsening of the credit crisis and rising unemployment have prompted ministers to bring [...]

January 5, 2009 | 0 Comments More
Government supports first-time buyers with £100m

Government supports first-time buyers with £100m

In its most recent attempt to revive the UK housing market, the Government has pledged an extra £100 million to help first-time buyers. Housing Minister, Margaret Beckett, is increasing the budget of the HomeBuy Direct scheme (which was set up in September) from £300 million to £400 million. To date, over 130 developers have signed [...]

December 16, 2008 | 0 Comments More
US shares rise on reports of government help

US shares rise on reports of government help

Global shares have received a boost this morning after reports of a proposal by the US Government to deal with the financial crisis. Henry Paulson, US Treasury Secretary, and Ben Bernanke, chairman of the Federal Reserve, are investigating the possibility of setting up a repository for bad bank, according to a report by CNBC. CNBC [...]

September 19, 2008 | 0 Comments More
Government offers “free” loans to first-time buyers

Government offers “free” loans to first-time buyers

The Government is today unveiling a number of measures to help kick-start the UK housing market by offering relief to homeowners in financial difficulties and first-time buyers. Households in England earning less than £60,000 per annum will be helped into home ownership with a loan of up to 30% of a property’s value. The loan [...]

September 2, 2008 | 0 Comments More
Defra announce plans for flood relief assistance

Defra announce plans for flood relief assistance

One year on from last summer’s devastating floods, the Department for Environment, Food and Rural Affairs (Defra) is proposing to assist homeowners and businesses to better protect their premises from the affects of flooding. Defra is to commit £125,000 to setting up a website and phone line together with the Environment Agency. The aim is [...]

June 22, 2008 | 0 Comments More
CML provides uniform response to borrowers in arrears

CML provides uniform response to borrowers in arrears

The Council of Mortgage Lenders (CML) has written to the Chancellor of the Exchequer, Alistair Darling, outlining the ways in which lenders are acting to minimise the financial problems of borrowers, particularly those coming off low-rate deals. The Council expects the number of mortgage arrears cases and repossessions to remain low during 2008 and points [...]

June 4, 2008 | 0 Comments More
Chancellor challenges mortgage lenders

Chancellor challenges mortgage lenders

Chancellor of the Exchequer, Alistair Darling, is meeting with mortgage lenders later today in efforts to extract the maximum benefit for homeowners of the Bank of England’s bold move to ease credit conditions with a £50 billion injection of cash. Mr Darling’s agenda will include help for borrowers whose fixed-rate mortgages are coming to an [...]

April 22, 2008 | 0 Comments More