Category: Uncategorised

The statistics…

I thought this week I would review some ‘interesting’ statistics which have just been released!Credit Action suggests that today in the UK:– 323 people will be declared insolvent or bankrupt. One person every 4.5 minutes. – 2,430 County Court Judgements will be issued– 144 properties will be repossessed– 33,600 applications for credit will be declined– […]

The day of the First Time Buyer…

The great ‘new news’ of the week is that Northern Rock have confirmed their intent to lend over the next 2 years and are to increase their product offerings to 90% of the property value. This shows ambition from the lender in dire times, especially for first time buyers. A spokesperson, commenting in trade press […]

It looks good news, but is it?

The snow invaded and the UK ground to a halt! Although good fun and great to see, the underlying effect amounted to some £3.5bn in lost revenues to businesses, experts have predicted. Add this to an increase in insurance claims (myself being a snow accident statistic!) and you quickly realise it’s been an expensive week. […]

Lloyds Banking Group use power….

The Lloyds Banking Group (HBOS and Lloyds TSB) began to wield their new found power on the mortgage market this week and withdrew all adverse and self certification mortgage products from two of their subsidiaries, BM Solutions and Bank of Scotland.This will have a major impact on the mortgage market, not only because they had […]

Mortgage Rationing?

So, it’s official! The UK is in a recession for the first time since 1991, although the reality is that most of us have known the downturn has been gathering pace since early 2008. However, that didn’t stop a Government owned bank, Northern Rock, paying staff a reported £9m in bonuses last week! Enough said!Following […]

Time to hit the button?

Mortgage interest rates may have hit an all time low although share prices have plummeted and credit card companies are tightening their purse strings. Now is not the time to bury your head in the sand! Every day we are seeing customers wake up to the reality that their finances are causing them issues which […]

Stormy Waters Ahead

The Credit Crunch is well upon us and it appears that it can not get much worse. However, I’m afraid, I’m the bearer of bad news. It’s going to get a lot worse, before it get’s any better. More than one in four employers are planning to make new or further redundancies in the next […]