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30th of December 2010
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News Tag: warn

October 27, 2010

Interest rates expected to be lifted in short-term

by Kay Murchie
’Interest
Economists have warned that interest rates could rise sooner than expected - and the warning came hot on the heels of a double dose of good news for the UK economy. Yesterday, the Office for National Statistics (ONS) revealed UK economic growth for the third quarter slowed to 0.8%, albeit double the rate analysts had forecast. Economists had expected economic growth ...




May 26, 2010

Fed chairman warns of political interference

by Kay Murchie
’Fed
Ben Bernanke, the chairman of the US Federal Reserve, has emphasised the importance of central banks to be free of political meddling and to keep their independence. Mr Bernanke believes central banks throughout the world should be able to make key economic decisions about monetary policy without Government interference. His statement comes as some Governments throughout the world are trying to influence ...




January 20, 2010

CBI raises concerns over acquisitions

by Kay Murchie
”CBI
Business group the Confederation of British Industry (CBI) has warned of a “fragile” recovery this year but the group is predicting that the economy will have exited recession in the fourth quarter. The economy, which has now contracted for six consecutive quarters, has been lagging behind other economies and is now the last major economy that is still in recession. Official figures on ...




December 10, 2008

Northern Rock hedges on latest base rate cut

by Gill Montia
Northern Rock hedges on latest base rate cut
Northern Rock mortgage borrowers will not all receive the full benefit of last week's cut in the base rate. The nationalised lender's tracker rate customers will see the full 1% reduction but for those on its standard variable rate (SVR) the reduction will be 0.5% taking the rate down to 5.34%, from 1st January. Mortgage borrowers, who have remained loyal ...




December 3, 2008

FSA warns on “floors” in tracker rate loans

by Gill Montia
FSA warns on
The Financial Services Authority (FSA) has warned banks and building societies not to use the small print in mortgage agreements to avoid passing on cuts in the Bank of England's base rate. The Bank is widely expected to cut the base rate again this week, by up to 1%. However, some lenders have included "collars" or "floors" in the terms and ...




October 31, 2008

Interest only mortgage can be an expensive mistake

by Gill Montia
Interest only mortgage can be an expensive mistake
Moneysupermarket.com is cautioning homeowners struggling with their finances against switching from a repayment to an interest only mortgage. The idea will tempt many as on the average £150,000 loan, moving to an interest only deal could reduce monthly payments by up to £236. However, the price comparison website warns that such a move will dramatically increase the overall cost of buying ...




September 22, 2008

Which? warns equity release no quick-fix

by Gill Montia
Which? warns equity release no quick-fix
Consumer group, Which?, is warning pensioners that using equity release as a quick-fix for financial pressures in retirement can be dangerous. Equity release schemes can provide a lump sum or regular payments in return for taking out a mortgage on a property, which does not have to be repaid until plan holders die or sell their property. Interest accrues on the amount ...




September 3, 2008

Law Society warns on shared equity rescue scheme

by Gill Montia
Law Society warns on shared equity rescue scheme
Government proposals to kick-start the housing market have prompted a warning from the Law Society. The measures announced this week include help for families who are struggling with their mortgage repayments. Those facing repossession may be eligible for a shared equity or shared ownership scheme, which would allow people to remain in their homes by selling part of their property and ...




August 5, 2008

FSA warns lenders as repossessions rise 41%

by Gill Montia
FSA warns lenders as repossessions rise 41%
The Financial Services Authority (FSA) is reminding mortgage lenders of their obligation to treat customers fairly. In a recent review, the regulator found weaknesses in the way some lenders have been dealing with arrears and repossessions, particularly for consumers with impaired credit histories. Specialist lenders raised particular concerns for the regulator, which described some firms as operating a "one size fits all" ...