Consumer borrowing defies squeeze and rate hikes

At the moment, whenever data on the housing market is released, you just know it’s going to be bad. No surprise then to hear that the number of mortgages approved for home purchase have fallen by 20 per cent since last year, and are now to the lowest level in over two years.
Maybe the [...]

Leeds unveils new fixed Isa deals

31 October 2007
Leeds Building Society has unveiled a range of fixed-rate tax-free Isa deals.
The company said the products provide an excellent guaranteed return and flexibility of access to some of the funds, without notice or penalty at any time, over a period which suits each individual customer’s needs.
The minimum investment is just £1, and the [...]

Borrowers pitch for online loans

31 October 2007
An internet firm has launched a new site will allows people looking for loans to specify how much they want to borrow – and how much they are willing to pay.
Zopa already enables people to borrow or lend money to each other in an effort to side-step the high street banks.
But the [...]

Pound hits 26-year high on dollar

31 October 2007
The pound has broken a 26-year-old record against the dollar as interest rate hopes on both sides of the Atlantic pushed the currency higher.
Sterling reached more than 2.06 US dollars as economists forecast a further reduction in rates in the US.
CMC Markets, currency expert, James Hughes said: “We’ll probably see the pound test [...]

Mortgage brokers backing rate cut

31 October 2007
Mortgage brokers are feeling more positive about the prospects of a cut in the Bank of England base rate in the coming months, new research shows.
Almost 90 per cent of brokers in the UK now believe that interest rates have peaked, with 43 per cent claiming that they believe that rates will fall [...]