Will the mortgage market ease next year?

Over recent months there have been mixed reports and opinions with regards to whether the mortgage market in the UK is likely to ease up next year, and whether people will stand a greater chance of being able to get a mortgage having experienced difficulties for the past couple of years since the global financial crisis and recession swept across the UK.

Some believe that the worst is over when it comes to the property and mortgage markets, and that whilst the market remains challenging after the chaos that the financial meltdown has caused lenders are starting become less stringent and are more relaxed over their lending rules. This comes after several years of severe restrictions that caused a mortgage drought in the UK and in other countries around the world.

However, despite the optimism of some industry officials there are many others that believe that the market will become even more challenging, with the coalition government cutbacks and concerns over jobs likely to affect the market. Many experts believe that people will find it increasingly difficult to get mortgage finance over the course of next year, and that it could be some time before things start to ease off and mortgage lending becomes more relaxed.

One industry expert said: “I don’t believe things will get any easier when it comes to mortgage finance in 2011, and if anything first time buyers could find things have become even more difficult as the banks struggle to cope with having to repay bailout money to the government.” She added: “First time buyers also still have the added pressure of having to raise larger deposits in order to get affordable mortgage deals, as well as the threat of interest rate increases next year that could make repayments less affordable.”

Tags: Many experts, course, mortgage lending, bailout money, industry expert

Would you join your local supermarket bank?

We are all used to popping to the supermarket every week or so to go and get our groceries and household goods, but when it comes to doing our banking most of us are more used to heading to the High Street, picking up the phone, or getting online to make transactions. Read more

Tags: supermarket bank, selling financial services, current account customer, going to the supermarket, finance

Insurance ‘essential’ for even short trips

No matter how far they are planning to travel, anyone heading overseas should ensure they have adequate travel insurance.

That is according to a spokesperson for the Association of British Insurers, who said that regardless of where an individual is travelling to, they could end up needing medical help.

“Even if you’re only in France, there’s always the possibility that you may need emergency treatment,” the spokesperson said. “So it’s worth considering for that reason alone.”

A recent survey carried out by swiftcover and YouGov found that of more than 2,000 travellers, 37 per cent had been robbed in Spain, 19 per cent had something stolen in France and nine per cent experienced theft in the UK.

The ABI spokesperson pointed out that fans travelling to watch the Rugby World Cup in France ought to get cover, as losing personal effects “can ruin any holiday or any visit or any break. It doesn’t matter what you’re doing”.

Tags: Cup, emergency, world, Insurance, swiftcover, British Insurers, break, spain

Europe-bound stags and hens should be covered, Confetti says

A combination of low air fares and heavy media promotion has made foreign destinations for stag and hen parties increasingly popular, with Eastern European locations such as Prague and Tallinn particular destinations for bargain-hungry boozers.

However, a leading events organiser says today that travel insurance is a must for those going on such short breaks.

Confetti says that it is “just not worth it” to not take out cover, with an accident or injury proportionally more likely to occur on a boozy weekend away.

PR manager for Confetti Carol Richardson said: “It’s not worth having things spoilt. You never know when things are going to wrong, unfortunately. And it’s just not worth it these days.

“With the erratic weather that we’re having and situations at airports across the world, it’s well worth taking out insurance, just for peace of mind.”

UK consular officials in the Czech Republic capital and stag and hen party hotspot Prague also said earlier this month that they received a “disproportionate” number of calls relating to hospital visits and arrests, thanks to the stag and hen parties that flock to the historic city.

Tags: Czech Republic capital, city, Carol Richardson, manager, disproportionate number, world, bargain-hungry boozers.However

How things have changed in last 50yrs

Half a century ago (July 1957) Conservative prime minister Harold Macmillan famously said that the people of Britain “have never had it so good”.

He was talking at a time when rationing had only just come to an end following World War II but Halifax has been comparing the economic picture in the UK in 1957 and comparing it with today’s situation.

Understandably, it has found that massive changes have taken place and concludes that the people of Britain in 2007 really have never had it so good.

The average annual wage in 2006 stood at £31,278, compared to a miser miserly £731 that workers took home on a yearly basis 50 years ago.

More people own their own home today, with 70 per cent of the adult population holding the rights to a property, compared to just 38 per cent in 1957.

We work shorter weeks today, with the average being 38.9 hours, while in the fifties they worked 48.5 hours per week.

Some things were better in 1957, with unemployment figures very low at just 1.3 per cent compared to today, while house prices were fantastically low at just £2,330.

The pound was also very strong in those days, sitting at $2.79.

Tags: halifax, pound, population, United Kingdom, world, War, July, week

Appropriate Insurance Company

One of the most important contributors of the UK economy is the insurance industry. The insurance industry is among the top employers of UK and a significant source of overseas earnings. It helps businesses to protect themselves from risk and provides a wide range of services to ordinary people, from car and house insurance to pensions. Searching for an appropriate insurance company is an important task in present days where insurance companies are mushrooming at every corner. Read more

Tags: Insurance, world, insurance companies, United States, claim insurance, member, industry, important contributors

Where Is The Best Place To Get Car Insurance?

The world of car insurance is almost as vast as financial services in general. Everywhere you look there are companies advertising insurance. So where do you go to find the best deals? Read more

Tags: insure, car insurance, world, broker, bit