Archive | February, 2008
Northern Rock Adds £100bn to National Debt
The Northern Rock fiasco looks likely to add £100bn to the national debt, and Labour’s economic competence is under question as a result. The Office for National Statistics has given the figure – which calculates to around £3,000 for every family in Britain – to the Government, and it could mean that Gordon Brown’s golden [...]
Continue reading...Credit card consumers seek better rates
14. February 2008
According to statistics released from MoneyExpert.com, approximately 5.7million credit card customers have switched providers within the last 6months in a desperate attempt to bring their debts under control. Roughly 394,000 more credit card customers switched providers in the latter part of 2007 than in the first half. MoneyEpert’s chief executive, Sean Gardner reckons that customers [...]
Continue reading...Darling Calls For Long Term Mortgages Again
13. February 2008
Alistair Darling has re-iterated his call for 25-year fixed rate mortgages. In his speech to the Engineering Employers’ Federation in London he called for a longer term approach to mortgages to become the norm for Britain’s 11.8m mortgage holders. Most fixed rates these days run for no longer than five years, but Mr Darling would [...]
Continue reading...Surprise As Treasury Wants Arnold Back In Northern Rock Bidding
11. February 2008
The bidding for Northern Rock may not be over yet, as Olivant has agreed to meet with officials from the Treasury to see if their bid can be resurrected. The withdrawal of Luqman Arnold’s Olivant on Monday left only two bidders for the bank – the current board and Richard Branson’s Virgin-led consortium – and [...]
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15. February 2008
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