Bank rate cut by a further 1 percent

The Bank of England has cut the base interest rate buy a further 1 percent in the third rate cut in as many months. The rate cut took place following the December Monetary Policy Committee Meeting, where it was decided by committee members that a further cut in interest rates was necessary in order to try and boost the flagging economy through increasing consumer spending. Read more

Tags: confidence, base rate, committee, interest rates, Monetary Policy Committee, Mortgages, right, bank of england

Will you get through the recession?

With the recession underway in the UK many people are worried with regards to whether they will stay afloat financially. With living costs having rocketed over the past year, and the effects of the global credit crunch still affecting households, many people have been unable to put aside money in savings to try and get them through these difficult times, which is a fact that has caused grave concern amongst many. However, there are some tips and hints that could help you to get through this period. Read more

Tags: recession, cheaper provider, tide, while, staffing, action, best account, price

Rows erupt over energy bills increases

According to recent report a number of rows have erupted over direct debit payments on energy bills, with many concerned that people are being charged way over the odds on their direct debits by the energy giants, which is resulting in increased profits for the energy firms but leaving many consumers unable to keep on top of their monthly direct debits for their energy bills. Read more

Tags: energy bills, scale, Financial services, Consumer Focus, energy giants, debit payments

Should you pay your rent upfront to save money?

Over the past year renting has become increasingly popular, as many people have struggled to get a mortgage and buy a home, making the option of renting far more appealing. Also, difficulties that sellers have had in selling their properties in the current financial climate has resulted in an increase in the number of properties coming up for rent, which has resulted in increased choice and better value for money for many consumers. Read more

Tags: landlords, rent payments, tenants, best deal, advance, Council, Real property law

New packaged accounts launched by Abbey

Spanish owned High Street bank, Abbey, has recently launched two new packaged accounts for its customers, and according to reports has started a new packaged current account war amongst banks that are vying for the business of consumers. After taking a 28% share of the mortgage market this year, the ambitious bank is now looking to increase its share of the current account market by offering these packaged accounts, which offer a range of benefits for consumers. Read more

Tags: fee, official, abbey, biggest criticism, mortgages institution, bank accounts, current account war, Payment systems

October sees further house price falls

Recently released figures from the Halifax have shown that house prices have fallen again in October, this time by 2.2 percent. This follows a smaller drop in September, and according to Halifax figures has resulted in the annual house price falling to 13.7 percent, although according to Nationwide the annual drop is larger at 14.7 percent. Halifax officials have said that the average house price is now around £30,000 lower than a year ago, coming in at £168,176. Read more

Tags: term interest, england, stabilise, rate, royal, halifax, likelihood, housing market

January sales start early on the High Street

With Christmas well on its way and consumer spending levels still low due to tight financial conditions, many major retailers on the High Street have started their January sales early by slashing the prices of their goods in the hope that it will boost spending amongst consumers. Retailers are slashing prices by up to 75 percent in some cases, hoping that their bargain prices will pull in customers and reduce the risk of shattered profits over what is expected to be a bleak Christmas in terms of spending. Read more

Tags: risk, sales, festive season, industry, year, retail, research, recession

Were we already spending less on luxuries before the credit crunch?

Every week there seems to be some report or another stating how spending levels on luxuries such as holidays has plummeted since the onset of the global credit crunch, and indeed the financial situation and turmoil over the past year has made things very difficult for many households and has severely restricted spending levels, leading to a downturn in the economy. However, one recent report has suggested that families in the UK had already started spending less on things like holidays and clothes before the effects of the global credit crunch took full effect. Read more

Tags: Office for National Statistics, housing, cinema, credit crunch, luxury goods

High street to suffer as consumers try and save money

Although Christmas is just around the corner many High Street retailers are not getting too excited about the flurry of activity and more importantly the huge profits that will come rolling in, namely because this is something that is unlikely to happen this year. After a particularly gruelling year in terms of finances, with soaring living costs, rocketing bills, and sky high borrowing costs to deal with, many consumers are desperate to try and put some money aside, and to do this many will have to cut back on the cost of Christmas, and reduce the amount of money that they spend on presents, food, going out, clothes, and entertainment. Read more

Tags: year, name, bank of england, base rate, run

Energy prices in UK have risen twice as fast as EU

According to a recently released report the cost of energy usage in the UK has increased twice as fast as in the EU. The figures were released by the Organisation for Economic Co-operation and Development. Read more

Tags: rest of the world, retail association, rest, energy usage, development, energy prices, free market, organisation

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