Interest rates and government intervention helped repossession levels

According to figures that were recently published there was a significant drop in the number of repossession in the UK in the final three months of last year. Read more

Tags: Subprime lending, mortgage, economics, United Kingdom, general election, government, finance, Labour

Warning over further job losses from Bank of England

The Bank of England has warned that the UK could be in line for another wave of job losses as a result of productivity falling faster than wages. The central bank claims that this could result in further job losses in the New Year, which would come as a huge blow given the many jobs that have already been lost during the recession. Read more

Tags: huge blow, Labour, Confederation of British Industry, number, unemployment, job losses, bank of england, central bank claims

Banks still turning down thousands of mortgage applications

It has been revealed that whilst many reports have claimed that restrictions on mortgage and general lending have started to ease off recently banks are still turning down thousands of mortgage applications every month, further hindering the recovery of the housing market. Read more

Tags: Mortgages, Labour, mortgage applications, bank of england, stringent regulations, reasons why, month

Successful start to car scrapping scheme

The car scrapping scheme that was launched by the Labour government last month has shown initial signs of success according to recently released figures. Read more

Tags: new cars, monthly registrations data, scheme, industry, official, car insurance, Labour, showroom traffic

Government and many other credit cards fail to do proper income checks

In the current financial climate most industry experts would agree that credit card providers need to ensure that they carry out proper income checks on applicants to ensure that they can afford the repayments on their credit card debt, particularly given the high level of defaults. Read more

Tags: fact, lack, rate, way, political parties, income checks

Refuse jobs attracting applications in the hundreds

With unemployment levels rising in the UK, and many people finding themselves with a sudden loss of income in what has become a very difficult financial climate, it has been reported that even the most menial of positions are now attracting job applications in the hundreds from desperate people that will take any job in order to get an income. One job for a binman recently attracted nearly two hundred and forty applications from unemployed people desperate to start earning money again. Read more

Tags: time, Labour, desperate people, earning money, job losses, unemployment, Website, uk

Lib Dems want changes to benefits stopped

The Liberal Democrat Party has recently made its views known on changes that the Labour government plans to make to the way that benefits are made to certain claimants. Read more

Tags: benefits, Lib Dems, Parties, taken out, Labour, liberal democrats, Department of Work and Pensions, system

Cost of the family holiday is on the rise

Most families look forward to their annual break when they can get away from the stresses of everyday life and enjoy some quality time together in a relaxing and enjoyable atmosphere. However, many families have found it far more difficult to get away on this much awaited break over the last couple of years, partly due to rising interest rates on mortgages two years ago, when interest rates soared to 5.75%, and more recently due to increased living costs and bills, which continue to put a real strain on household finances, leaving very little money to spend on luxuries. Read more

Tags: Labour, weakness, report suggests that, fortune, recent reports, awaited break

Who is telling the truth – Brown or Darling?

For many months now both consumers and industries have been concerned about the slowdown that has hit the UK’s economy. With the nation hitting a period of stagflation, which is a toxic combination of stagnant economic growth and soaring inflation levels, it seems that the nation has been thrown into chaos. Even the Monetary Policy Committee and the Bank of England have been at loggerheads over recent months with regards to the movement of the base rate, with some wanting to increase the rate to curb inflation and others wanting to cut the rate to boost the economy. Read more

Tags: nation, crisis, Alistair Darling, Labour Party, United Kingdom, economics

Women need longer to pay off student debts than men

Women need on average five more years than men to pay off their student debts, according to new figures from the government.

In an answer to a parliamentary question, higher education minister Bill Rammell revealed that female graduates need an average of 16 years to pay off their debts, while men need only eleven.

While the minister stressed that having a degree is worth around £100,000 in lifetime earnings, the Conservatives condemned the situation.

Education spokesman David Willetts said: “This shows that women get a raw deal in the labour market. Women’s earnings are more intermittent and still lower than men’s.”

He suggested that the impact of women taking time away from their careers to raise families was a major factor.

However, National Union of Students women’s officer Kat Stark disagreed.

She said: “Women are taking longer than men to pay off their student loans because they are paid less, not because they are taking time off to have children.”

Tags: union, lifetime earnings, Labour, market women, question, higher education minister, average, student debts