Pressure from the Government on the Banks is finally starting to pay off. The main mortgage lenders have started to respond to the demand that they should cut their mortgage lending rates. The Nationwide, HBOS, Royal Bank of Scotland, Natwest and the Northern Rock will cut their main variable lending rates by the full 1.5% on 1 December. Read the rest of this entry »
If you want to get away from the doom and gloom of recession and enter a utopian world where the city never sleeps and you can imerse yourself in unbridled luxury, then Las Vegas is the place to go. Las Vegas is like nowhere else on earth and offer the chance of true escapism away from the daily grind.
And there is no better hotel to base yourself at than the Mandalay Bay. This is how their website describes how your made to feel special. Read the rest of this entry »
The Yorkshire Building Society is to take over its smaller rival, the Barnsley Building Society. The Barnsley said it was protecting itself against the possible loss of up to £10m deposited with Icelandic banks. It went on to add that it could stand such losses and in no way were customers accounts at risk. However the Barnsley felt that in these times of economic difficulty, it could mitigate risk by becoming part of a larger organisation.
As the recession kicks in and there are more casualties in the financial services sector there are likely to be more takeovers and mergers as companies look to strengthen their financial positions.
We’re losing money on our equity investments, the cost of food is going up, energy bills have gone up and now the cost of a fixed rate mortgage is also on the up. Banks and Building Societies have had no choice but to increase the interest on fixed rate deals as the cost for them to borrow money in the wholesale markets has gone up by over 0.3%. Read the rest of this entry »
The slump in the housing market continues as some estate agents report selling only one house per weekover the past three months. There are plenty of properties out there to buy and there are plenty of people wanting to buy them. The difficult bit is actually raising the funds to buy a property as mortgage providers continue with their overly cautious outlook on life. Read the rest of this entry »
