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BoE keeps the base rate steady

Posted on Saturday, November 21, 2009

The Monetary Policy Committee of the Bank of England decided to keep the base rate of interest unchanged at 5.75 per cent. The rate setting body voted 7-2 in favour of the current rate. The Bank of England deputy governor John Gieve & David Blanchflower wanted interest rates to become lower. Amidst the continuing turmoil in financial markets & the resultant tightening of loan conditions, the interest rates have increased in the recent months. The mortgage & personal...
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A reliable and fair lender for your financial requirements

Posted on Thursday, November 12, 2009

A right type of personal loan & a reliable, fair lender is what you should be aiming at The first & foremost thing is to check the credentials of the lender from which you want to borrow. You can cross check a lender from the customers who have already taken up loans from the same lender. Another thing is to look in for a lender who is duly regulated & authorised to sell the loan products. The FSA, or the Financial Services Authority, is the UK's financial regulator. It...
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Act now to protect your home from winter

Posted on Thursday, November 05, 2009

If your home is in a bad shape, this is the time to set it right - before the bad weather strikes in winter. According to Halifax Home Insurance, winter is the time when your homes are at risk. People should ensure that their homes are ready to face the onset of severe weather. Vicky Emmott of Halifax Home Insurance said: "Winter is the time when we retreat to the warmth & safety of our homes, but before doing so there are some essential checks that need to be carried...
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Falling home prices may leave many with negative equity

Posted on Monday, November 02, 2009

The prices in the UK housing market are on the fall. Six out of the nine regions in England registered a fall in the home prices last month. The overall fall for England & Wales was 0.4 per cent which implies a total loss of £1,030 in a single month for an average homeowner. Similarly, an average London property lost £4,208. Nearly 33,000 first time buyers borrowed the full value of their property between January 2006 & August 2009. It leaves them...
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Long-term fixed rate deals not popular

Posted on Saturday, October 31, 2009

Many homeowners are shying away from long term fixed rate mortgage deals. Two-year deals are the most popular as Brits are not showing interest in deals of 10 years or more, even though the rates are not bad. Alistair Darling, Chancellor of the Exchequer, has shown some determination to make long term fixed rate deals easily available & accessible to all consumers. These deals increase affordability & financial stability for the homeowners. Despite many such deals now...
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National system of generic financial advice to be put in place

Posted on Monday, October 26, 2009

Millions of Britons need advice & support to understand the financial decisions they will make. A generic advice regime for the investment industry will try to improve the financial capability across the country. The cost of putting such a system in place is proposed to be shared equally between government & industry, says the interim report by the Thoresen Review of Generic Financial Advice (GFA). The report clams that the benefits arising out of this service would...
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Plans of Capital shot into the UK economy revealed

Posted on Saturday, October 10, 2009

Great Britain is the latest to join the list of countries that decided to go the capital way to revive the miserable economic conditions, courtesy liquidity crunch. Reportedly, the Brown-headed government proposed a plan of capital dose injection of worth 50 billion pounds into the banking sector in a bid to infuse the life into the dying sector. Interestingly, this move is quite similar to the one materialised by the US. However, this was quite a brave move from the Brown's...
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