Archive for January, 2009

Prime Minister says he wanted better financial regulation ten years ago

Tuesday, January 27th, 2009

Gordon Brown today claimed that a decade ago, in Harvard, he had called for better regulation of the financial markets to avoid future credit problems.
Thanks to the collapse of confident lending between banks, it is now a struggle to obtain secured loans, and bad credit mortgages are perhaps the most difficult to find.
Mr Brown, however, [...]


Lenders cut mortgage rates

Tuesday, January 27th, 2009

Several mainstream lenders cut the prices of their mortgage deals last week.
NatWest/RBS, Alliance & Leicester and Abbey all reduced the prices of their two-year fixed rate deals, although high loan-to-value ratios remained.
This may indicate the start of a slow return to stability, and a knock-on effect could be greater ease in securing bad credit mortgages.

[...]


Northern Rock bailed out a second time

Monday, January 19th, 2009

Nationalised bank Northern Rock has been allowed by the government to slow down repayments of its £26 billion loan.
This represents a change of plan for the struggling bank, which previously advised customers to try and switch to another bank.
Now, the bank can afford to keep its customers, allowing them to remortgage with Northern Rock [...]



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