January 2009 - In the News
Unsecured Loans - Britons 'won't cut back on holidays'
Despite the ongoing economic downturn putting increasing pressure on the wallets and purses of Britons, people are still not willing to sacrifice their holiday plans, one sector commentator has claimed.
Frances Tuke, spokesperson person for ABTA - The Travel Association, said that in ... More
Unsecured Loans - Time for cheques to check out?
There are likely to be less cheques going forward in the UK, one sector commentator has claimed.
Neil Munroe, external affairs director at Equifax, said that although some small businesses may continue to use this payment method, fewer retailers now expect them as they become less ... More
Debt Consolidation - Financial terms 'have become mainstream'
Terms that were once limited to the pages of financial publications have now become more commonplace as people discuss and read about the ongoing economic crisis, one sector commentator has claimed.
Cormac McKeown, head of content at Collins English Dictionaries, said that the word ... More
Unsecured Loans - Britons 'delaying retirement'
A quarter of people in the UK are being forced to delay their retirement due to the ongoing economic downturn, it has been claimed.
According to research by Life Trust, Britons are now seeing the value of their pensions shrink while their other investments also fall, forcing many to deny ... More
Unsecured Loans - Credit plan for businesses unveiled
The business secretary Peter Mandelson has unveiled a £20 billion credit plan with the aim of helping UK companies through the credit crunch and the recession, it has been reported.
Included in the package is a £10 billion working capital scheme, which will ensure bank lending ... More
Remortgage - Couples 'concerned about economy'
Almost one in five UK couples have admitted that they are unsure whether they would survive financially for more than a month if one of them were to lose their job in the current economic climate, new research has revealed.
According to the study by callcreditcheck.com, 26 per cent of ... More
Debt Consolidation - Interest rate cut 'unpopular'
Over two-thirds of Britons have stated that they were angry by last week's decision by the Bank of England's monetary policy committee to slash the base rate of interest to 1.5 per cent, it has been noted.
According to a survey by moneysupermarket.com, the cut was an unpopular choice ... More
Unsecured Loans - 'Invest in a' classic wardrobe
With many Britons still finding their disposable income under pressure from the credit crunch and impending recession, consumers are increasingly choosing not to purchase the fastest, cheapest and most disposable fashion.
Such is the assertion of Shelly Vella, fashion director at ... More
Unsecured Loans - Brits 'feel guilty about not comparing prices'
British consumers are left feeling guilty if they do not compare product prices before they begin shopping for electrical goods and gadgets, according to one sector commentator.
Lucy Allen, PR director for GotYourPriceCheck, said that 55 per cent of people had admitted they researched ... More
New Mortgages - There are 'fewer high loan-to-value mortgages'
Financial services providers have tightened their criteria and in doing so, narrowed down the lending options on offer, resulting in fewer high loan-to-value mortgages available, one sector commentator has claimed.
Sue Anderson, head of member and external relations at the Council of ... More
Debt Consolidation - Putting pen to paper
When it comes to managing finances, the first step Britons should be taking is putting pen to paper, one sector commentator has claimed.
Carl Kroger, sales and marketing director from the Relax Group, said that careful debt management could help people to tackle their monetary ... More
Debt Consolidation - Contactless payments 'should be secure'
The payment industry needs to prove to consumers that new contactless payment methods are secure, one sector commentator has claimed.
Neil Munroe, external affairs director at Equifax, said this was because there was some wariness about such technology.
"I don't think there ... More
Debt Consolidation - Savers 'being punished'
According to new research, savers in the UK are being punished for managing their finances by the book.
Consumers who insist on having a passbook with their savings account are being the worst affected, MoneyExpert.com asserts, as banks slash rates in line with the base rate of ... More
Unsecured Loans - Talk isn't cheap
The UK is too busy talking to get value for money, one company has claimed.
Research by moneysupermarket.com has revealed that despite the credit crunch putting a strain on Britons' finances - which should prompt them to take action to keep costs down - many are sticking with their costly... More
Unsecured Loans - Government 'can no longer avoid making choices'
The government is no longer able to put off making tough choices in relation to bank lending, the Liberal democrat party has asserted.
In a statement, the party claimed that the Conservative party's recent suggestion of a full-scale national loan guarantee scheme could potentially expose ... More
Debt Consolidation - Britons 'opening up about money'
With the credit crunch still continuing to bite and a recession looming on the horizon, one benefit to the economic crisis has been that Britons are now beginning to open up about their money matters, one sector commentator has claimed.
According to new research from CreditExpert.co.uk, ... More
Remortgage - Government mortgage schemes 'will gradually take effect'
The proposed mortgage schemes from the government will gradually take effect for the worst affected homeowners, one sector commentator has claimed.
As part of last year's Pre-Budget report, the government announced a package that included shortening the waiting time for Support Mortgage ... More
Unsecured Loans - Rate cuts 'half a solution'
Following the decision by the Bank of England's monetary policy committee yesterday (January 8th) to cut the base rate of interest to 1.5 per cent, one political group has claimed that this only offers half a solution.
The Liberal Democrats stated that as the recession deepened and with ... More
Unsecured Loans - Base rate at 1.5 per cent
The Bank of England announced today (January 8th) that the base rate of interest will now stand at 1.5 per cent.
Following the decision of the Bank's monetary policy committee (MPC) to reduce interest rates by 0.5 of a percentage point, the base rate now stands at the lowest ever recorded... More
Debt Consolidation - Banks 'cannot go bust'
The financial services providers operating in the UK should not be allowed to go bust, one sector commentator has warned.
Michael Baxter, economist at Defaqto, said that if more bailouts - which may come from taxpayers' funds - were needed to resume bank lending then there was "no ... More
New Mortgages - Savings inflow 'not sufficient'
Savings inflow to banks and building societies is holding up but may still not be sufficient to maintain a flow of lending that would lead to a more normal market.
Such is the assertion of Sue Anderson, head of member and external relations at the Council of Mortgage Lenders, who added ... More
Credit Cards - Credit card care abroad
Holidaymakers planning to rely on their debit or credit card when they enjoy an overseas getaway this year should take care to ensure that they do not become a target for fraudsters.
A spokesperson ... More
Unsecured Loans - Future interest rate decisions 'depend on eurozone'
As the Bank of England's monetary policy committee (MPC) begins discussions today (January 7th) over whether to make further cuts to the base rate of interest, one sector commentator has claimed that future interest rates depend on sterling.
In addition, Michael Baxter, economist at ... More
New Mortgages - New mortgage scheme 'will only help a few'
Only a few households in the UK are likely to benefit from the government's new package of mortgage measures - announced as part of last year's pre-Budget report - according to one sector commentator.
Chris Jenkins, co-owner of the Homeowners Advice Centre, said that households where one ... More
Unsecured Loans - Interest rate cut 'could allow breathing space'
By cutting the base rate of interest by just one per cent, the Bank or England could afford itself some breathing space, one sector commentator has asserted.
However, Trevor Williams, UK chief economist for Lloyds TSB, said that should this reduction occur this month - which would take ... More
Debt Consolidation - Darling admits recession 'may be severe'
The chancellor of the Exchequer Alistair Darling has claimed that the recession may be deeper than the government had originally predicted.
In an interview with the Financial Times, he stated that the outlook for the economy was "difficult" and that the country was still ... More
Unsecured Loans - Interest rate fall predicted
A drop in interest rates to 0.5 basis points may be necessary by the end of the year, it has been claimed.
Economist at the Centre for Economics and Business Research Arek Obhanissian said that the organisation believes there will be a drop in rates over the course of 2009.
... More
Unsecured Loans - Recession 'could be much more severe'
The continued lack of credit in the UK economy could turn an ordinary but "fairly nasty" recession into something "much more severe", according to one sector commentator.
Jonathan Loynes, chief European economist at Capital Economics, said banks were still reluctant to... More
Remortgage - New base rate for a new year?
The Bank of England's monetary policy committee (MPC) will meet tomorrow (January 7th) to begin discussions over whether further cuts will be made to the base rate of interest.
Currently, interest rates stand at two per cent, after consecutive reductions were made in October, November and... More
Debt Consolidation - Confidence 'hits new low'
Consumer confidence in the UK fell sharply in December, according to a new report.
The Nationwide Consumer Confidence Index for last month fell from 51 points to 47, as fears over the impending recession grew and the festive period put a strain on Britons' finances.
However, the ... More
Unsecured Loans - Cameron 'feels like shaking Brown'
Leader of the Conservatives David Cameron has admitted that he feels like shaking Gordon Brown over his handling of the economic crisis, it has been reported.
Speaking on BBC Radio 4's Today programme, he said it was time for the prime minister to admit that his government's tactics for ... More
Debt Consolidation - People 'could save more'
As costs in the new year ease, Britons may find themselves in a position that allows them to save more, according to one sector commentator.
A spokesperson for National Savings and Investments (NS&I) said inflationary pressure would ease off on utility bills, petrol and food, which ... More
Unsecured Loans - Children have gone phishing
The online activities of children in the UK may be exposing their parents' financial details to phishing attacks, one sector commentator has warned.
Michael Lynch, CPP fraud expert, said this was because young people may be unaware if the sites they are going on are secure when they input... More
Remortgage - Planning for a new life overseas?
Britons who hope to move abroad at some point over the course of 2009 have been advised by one sector commentator to take the time to plan for every aspect of the transition.
Simon Ripton, joint managing director of Alliance and Leicester International, said that one step should be ... More
Unsecured Loans - A 'stagnant' year ahead
According to one sector commentator, 2009 looks to be a "basically stagnant" year, with output falling overall during the 12 months and unemployment rising.
Charles Davis, economist at the Centre for Economics and Business Research, said that he expected the contraction of ... More
Debt Consolidation - Blame the parents
When it comes to splashing out at the January sales, Britons should look to their parents as the reason behind their spending habits, it has been claimed.
According to Skipton Building Society, more than four out of ten UK adults admit that they choose luxuries similar to those of their ... More
Unsecured Loans - Brits set to 'ditch the gym'
With the credit crunch continuing to put a strain on the finances of Britons, many are resolving to quit their gym membership during 2009, which may mean that shifting the pounds is a less popular new year's resolution this year.
According to moneysupermarket.com, the average gym ... More
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