Archive for May, 2008

TweetShareThe newly nationalised Northern Rock bank is expecting a considerable surge in the number of people approaching its staff for debt advice, it has been suggested. An internal memo revealed that the bank is set to more than double the number of debt management experts on its workforce by March of next year. Household budgets [...]

TweetShareThe UK’s housing sector slump has gathered pace in recent weeks, according to the latest data from the Nationwide Building Society. Average house prices are now 4.4 per cent below the corresponding figure for 12 months ago and the speed at which typical property prices have fallen has surprised many leading experts. Would-be first-time buyers [...]

TweetShareMortgage-related debt management problems in the UK look set to become more serious than the crisis that occurred in 1992, it has been claimed. According to a report from the Axa insurance firm, there are more homeowners with borrowing arrangements that leave them vulnerable to repossession and arrears than was the case 16 years ago. [...]

TweetShareCuts in the base rate of interest will not be made until August at the earliest, according to the assessment of one economic expert. Howard Archer, chief UK and European economist for Global Insight, maintains that the Bank of England looks set to adopt an “extremely” careful approach to setting interest rates in months to [...]