Remortgage - From the 'papers

18 November 2009 - 43% owned by the British taxpayer and the recipient of a further £5.7 billion

Weekly Financial News Roundup Following its rejected bid of £10.2 billion in September – which Cadbury said "fundamentally undervalued" the company – US food giant Kraft Foods had until 5.00 pm on Monday to make another hostile bid for the UK confectioner, or refrain from making any further ... More

3 November 2009 -  house prices rose 2% year-on-year in October,

Talks between Royal Mail and the Communication Workers Union (CWU) resumed on Monday, with a view to resolving the dispute over pay, conditions and modernisation and averting further strike action by postal workers, scheduled for Thursday, Friday and Saturday. David Ward of the CWU said that he ... More

11 October 2009 - Average British home is now worth £163,533

Weekly Financial News Roundup On Monday, the UK became the first of the G20 countries – which, of course, include the US and Japan – to announce new regulations regarding the liquidity of banks and investment firms. The announcement came twelve months after the injection of £37 billion of ... More

22 September 2009 - Gross mortgage lending for August

Weekly Financial News Roundup The latest figures from the Council of Mortgage Lenders (CML), published on Monday, revealed that the number of mortgage loans approved in July was up 19% compared with the same month last year. The CML welcomed what it called "the first material annual growth" ... More

22 August 2009 - It seems that the recession is over – well almost.

Weekly Financial News Roundup It seems that the recession is over – well almost. James Knightly, an economist with ING, says that the wide range of recent positive indicators shows that the UK will come out of recession in the third quarter. He cites increasing home mortgage loan approvals ... More

16 August 2009 - £260bn of toxic assets

Weekly Financial News Roundup The early part of the week saw rumours that banking mammoth Lloyds was trying to find a way to exit the asset protection scheme of which it has become an unwilling participant. Eric Daniels, Chief Executive, believes that the fees and other terms attached to the ... More

30 June 2009 - Repossessions increased by 13%,

Weekly Financial News Roundup Figures published by the Financial Service Authority (FSA) on Monday suggested that the number of mortgages that fell into arrears during the first quarter of 2009 was just under 60,000, down 12% on the previous quarter. Conversely, repossessions increased by 13%, ... More

15 June 2009 - Better news for taxpayers

Weekly Financial News Roundup Poor European election results – in fact, the poorest since World War II – which saw the Labour Party poll just 15.3% of the vote, and fall into third place, behind UKIP ("United Kingdom Independence Party"), cast further doubt over the future of Gordon Brown as ... More

8 June 2009 - The Recession in the U.K. is easing

Weekly Financial News Roundup The major piece of financial news on Monday came from across the Atlantic, with the announcement that General Motors (GM) Corporation had filed for bankruptcy protection, in doing so marking the biggest manufacturing collapse in U.S. history. GM sold 8.5 million ... More

26 May 2009 - hold the Bank Rate at 0.5%

Weekly Financial News Roundup The week opened with the news that the resignation of Sir Victor Blank, Chairman of Lloyds Banking Group, had been accepted, following continued criticism of the acquisition of Halifax Bank of Scotland in January. The deal, which was engineered by Sir Victor with ... More

21 May 2009 -  Bank of England said, in its quarterly Inflation Report

Weekly Financial News Roundup The week opened with the news that government ministers are to consult over a £7 billion plan to install so-called "smart" meters in every British home by the end of 2020 over the next three months. The meters will allow energy suppliers, as well as consumers, to ... More

5 May 2009 - Average british home at a little under £152,000 or down 15% year-on-year

Weekly Financial News Roundup Any thoughts of a recovery in the U.K. housing market were dealt a blow on Monday with figures from the British Bankers' Association revealing that the number of mortgages approved by major British banks fell by nearly 7% to just over 26,000 in March. Gross ... More

7 April 2009 - house prices fell by 1.9% in March

Weekly Financial News Roundup There was good news for the Dunfermline Building Society at the start of the week insofar that just 2 days after its sale was announced by the Government, it was revealed that its branches, good loans and deposits were to be bought by the Nationwide. The ... More

25 March 2009 - Banks to be lenient towards small businesses

Weekly Financial News Roundup The week opened with the revelation that the average number of jobseekers in the United Kingdom – that is, unemployed people claiming Jobseekers' Allowance – per vacancy advertised in job centres is now as high as 10. Figures released by the Trade Union Council ... More

2 March 2009 - Reversal of Government lending policy

Weekly Financial News Roundup The week opened with the news that, in a reversal of Government policy, Northern Rock is to resume mortgage lending with an additional £14 billion of taxpayers' money. Chancellor of the Exchequer, Alistair Darling was quoted on the BBC website saying "It's repaid ... More

2 February 2009 - Mortgage Approvals Rose:- Weekly Financial News Roundup

Weekly Financial News Roundup Prime Minister Gordon Brown opened the week with a speech in which, according to the BBC website, he described the recession – in which Britain finds itself, officially, for the first time since the early Nineties – as "the difficult birth pangs of a new global ... More

24 November 2008 - Weekly News Update-repossessions

The main financial news at the start of the week involved the G20 summit in Washington over the weekend. The leaders of the 20 major industrial countries in the world met to discuss and propose solutions to the global financial crisis which appears to be worsening day by day. The leaders pledged ... More

27 October 2008 - What A Financial Week. Banks, Loans, and Mortgages

There was welcome news at the start of the week as business secretary Lord Mandelson, announced a £350 aid package for small and medium sized businesses in the United Kingdom. The announcement followed warnings by the leading independent business organisation, the CBI ("Confederation of British ... More

29 September 2008 - Weird and Wacky Week on Wall Street – What Does It Mean for Your Savings, Loans and Mortgage?

Weird and Wacky Week on Wall Street – What Does It Mean for Your Savings, Loans and Mortgage? In another week of economic turmoil, the question the man in the street is asking is ‘How is this going to affect me? What will happen to my bank account or my building society account? Will my new ... More

7 April 2008 - Feeling the Pinch

Even the more affluent amongst us are planning to cut spending this year, according to a report by financial provider Axa. In families with an income of over £30,000 per annum, three in four are planning to tighten the purse strings over the next twelve months. Overall, 70% of households are ... More

21 January 2008 - Gloomy Times Ahead

A mixed week of financial news failed to halt fears that the UK is heading towards as an economic recession whilst Chancellor, Alistair Darling, has urged that market action be taken to ease the 'enormous' problems in world financial markets. Homeowners have been suffering on several fronts. New ... More

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