Thrifty Loans

FSA outlines risk factors for repossession

The FSA has stated that over the next eighteen months many homeowners could be at risk of losing their homes. Officials state that the risk could apply to over one million homeowners, with around 25% of those who purchased their properties, took out their home loans, or remortgaged between 2005 and 2007 at increased risk [...]

Continue reading...

Darling Calls For Long Term Mortgages Again

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...

Bank Of England Watches As The Fed Dives In

The Federal Reserve in the US has not been slow to react in its attempts to stave off recession. Cuts of 0.75% last week and another 0.5% this week have taken the interest rate down from 4.25% to 3%. In comparison, the UK can be seen as either foolishly slow or sensibly calm in its [...]

Continue reading...

Big Rate Cuts Unlikely In The UK

Earlier this week the US Federal Reserve cut its interest rate by 0.75% to 3.5% – a once-in-a-generation event that reflects how seriously the American authorities view the recent turn of events in world stock markets. Normally, the Fed, like the Bank of England, prefers to ease interest rates down gently at a quarter point [...]

Continue reading...