Recession turns to repossession for thousands of homeowners
Posted in News on Feb 20th, 2009
House prices may be on the decline, but the number of house repossessions is certainly on the rise with over 40,000 homeowners affected in 2008.
Tag Archive 'housing market'
Housing market in e-state?
Posted in Features on Dec 11th, 2008
With the recession seemingly sending the housing market into a decline, Credit Crunch Busters went to investigate why so few people are investing into a new house, by getting a local perspective on the matter.
Banks look to beat the base rate
Posted in News on Nov 10th, 2008
News Week: 10th November 2008
With the banks fearing that interest rates from the Bank of England could be set at 0% resulting in no profit, many high street banks such as Halifax, Britain’s largest mortgage lender, have introduced small print into its loans to allow them to charge up to 3% higher in interest, than [...]
Unemployment rates set to sky rocket
Posted in News on Oct 20th, 2008
News Week: 20th October 2008
The UK is said to have plunged into a recession and that by the end of next year there could be as many as 400,000 more people unemployed. The banks have recently decided not to pass on the 0.5% cut in inflation rates to their customers.
Tax payer bails out burden building societies
Posted in News on Sep 29th, 2008
News Week: 29th September
This week the government has nationalised Bradford and Bingley’s mortgage lending which stands at £41 billion in debt. The building society’s other assets of the savings accounts have been bought by the Santander group.
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