Thrifty Loans

Northern Rock Mortgages Take A Dive

It should probably come as no surprise that mortgage lending by Northern Rock has taken a nosedive since it hit the headlines for having to go cap in hand to the Bank of England for extra funds in September. The bank has seen an 80% fall in mortgage lending as it has deliberately tried to [...]

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Credit Card Companies Now Liable For Overseas Purchase Failures

One of the nice features of credit cards is that you are protected if you buy something for over £100 and something goes wrong with the purchase. Any liability on the supplier’s part is shared with the credit card, protecting you, the consumer. The problem is that this rule has long applied to purchases made [...]

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Bank Holds Interest Rate Again

Interest rates have been kept on hold at 5.75% in November by the Bank of England. The nine-person Monetary Policy Committee (MPC) held the rate in the face of mounting pressure to reduce it by a quarter of a percent. The rate has now been at 5.75% since July. The hopes for a cut in [...]

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Houses To Lose Thousands Off Their Values

Economists say that house prices are likely to fall over the next two years, taking thousands of pounds off property values, and a property crash is still possible. The reasons for a property price fall are mounting: higher interest rates, high mortgage costs, less available credit, less disposable income, property prices already too high, a [...]

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