News Tag: MPs
September 24, 2009
Unfair credit rating practices could be called to a halt by MPs following a parliamentary investigation.
Currently consumers have to apply for a loan or credit card to find out the interest rate they'll be offered.
However, each application lowers their credit score - so the more a consumer searches around for the best deal, the worse the impact on their credit rating.
MPs ...
MPs: Credit ratings penalise savvy borrowers
by David Masters
June 22, 2009
MPs are not the only ones fiddling their expenses according to new research by uSwitch.com.
British employees exaggerate their expense claims by half a billion pounds a year, a poll by the price comparison site discovered.
Sixteen percent of employees confessed to stretching their expense claims for financial gain.
Nearly three million UK workers claim for more miles than they've actually driven on petrol ...
Expenses fiddling rife across UK workforce
by David Masters
June 19, 2009
The Government has announced an inquiry into the UK mortgage market, focusing on arrears, repossession and access to mortgage finance.
The Treasury Select Committee will undertake the study which will look at the impact of the recession on existing and potential homeowners.
MPs will collect lenders' statistics on current arrears and their forecasts for medium-term trends.
They will also consider access to mortgage finance ...
MPs to commence mortgage market inquiry
by Gill Montia
May 15, 2009
Forcing MPs and Lords to rent London accommodation rather than buy second homes would save the taxpayer over £1 million a year.
Research by SmartLandlord.co.uk found that renting a studio flat in Westminster costs an average of £177 less per month compared to buying.
With 1,372 tenants from the House of Parliament and the House of Lords, rented properties would ...
Rented accommodation for MPs would save £1m a year
by David Masters
March 4, 2009
MPs have slammed the government department that has responsibility for UK housing issues.
In a newly published report, a committee reviewing the work of the Department for Communities and Local Government (DCLG) has concluded that the government body lacks the skills needed to formulate the policies for which it is responsible.
The taxpayer has been let down on eco-towns, home information packs ...
MPs slam DCLG on eco-towns and Hips
by Gill Montia
November 4, 2008
Last month, in a co-ordinated move with other banks, the Bank of England’s Monetary Policy Committee (MPC) slashed UK interest rates from 5% to 4.5%.
Central banks in the US, Japan and China have all cut interest rates in the last week in a bid to fight off a recession.
Many analysts believe that the Bank of England and ...
MPs urges banks to pass on interest rate cuts
by Kay Murchie
October 15, 2008
A Professor of Finance from Imperial College Business School in London is predicting that UK house prices could fall by a further 5% to 10% before the market bottoms out.
Addressing a committee of MP's, Professor David Miles proposed that the property market should stabilise once house prices are 20% below their peak of summer 2007.
Once this point ...
MPs advised house price falls will bottom out at 20%
by Gill Montia
