The global credit crunch that financial institutions are currently suffering is partly a result of the collapse of the sub-prime mortgage sector in the US. This situation has led to massive losses for many financial institutions.
Repossessions in the UK could hit as much as 70,000 in the coming year, which will be the highest rate […]

A consequence of Britain’s heavy reliance on financial services has meant that it is far more vulnerable to the impact of the credit crunch than most other economies, that’s according to the Organisation for Economic Co-operation and Development (OECD)
OECD Chief economist, Jorgan Elmeskov, has warned that the financial turmoil which is going to force many […]

After a number of announcements this week showing that house prices have been falling by their fastest rate in 15 years, the big question arising in many quarters now is, is investing in property still a sensible move?
Experts seem to all take a fairly similar view; first of all you have to take a relative […]

According to one of the UK’s leading economists the housing market is on the verge of a record slump and prices are going to drop by a further 10%.
The predictions comes form Morgan Stanley’s chief UK economist, David Miles and would signal the largest full year decline in house prices since records began back in […]

Demand for property has dropped off considerably in recent months as buyers hold back from putting in offers on new homes as long as they are not sure which way the property market is going to go. However it is not only buyers who are holding back, sellers too are biding their time too waiting […]

It has been revealed that more than 10 million British adults are living on the edge of financial ruin as a result of being unable to deal with the rising mortgage prices and other debt they have incurred over the past few years.
There are currently large portions of the UK population gripped by money problems […]

The Financial Services Authority (FSA) has revealed that mortgage brokers are offering loans that they know are unaffordable and willingly letting customers get away with giving false information about exactly how much they are actually earning.
It has been three years since the FSA took over regulation of the mortgage market and it is now revealing […]

Following on from the Northern Rock crisis and the sub-prime crisis in the US, we here in Britain are really beginning to feel the impact of the credit crunch in our pockets. There have been rises in prices on the high street from food, to petrol pumps and even on loans, mortgages and credit cards.
With […]

It has been revealed that credit card companies are continuing their practice of increasing interest rates on borrowers who have never made a late payment.
Some of the worst cases are examples of credit card companies putting up rates on borrowers who have never made a late payment by as much as 100%. That could mean […]

With banks and credit card companies tightening their belts when it comes to lending an increasing number of us are finding it more and more difficult to secure credit, however there are a few steps you can take in order to avoid becoming a victim of the credit crunch as well.
One of the easiest ways […]