Blog
Mortgage Borrowers Being Rejected at Record Rates in the UK
An increasing number of first time home buyers are finding it extremely difficult to get mortgage loans in UK. Mortgage lenders are rejecting home loan applications at a record rate. According to a latest report released by British Bankers’ Association (BBA), approvals for home purchase loans plunged to a 4... learn more »
BP Oil Distaster May Lead Obama to Promote More Alternative Fuels
If this was a financial website that could give advice, we would probably say “buy alternative fuel companies”. But we are not, we just broadcast information on what is happening in the markets. Now over to President Obama of the USA. »
Darling Bars UK Banks From Taking Taxpayer Stakes
UK banks will not be allowed to buy Northern Rock, or to take up the taxpayer stakes in RBS and Lloyds TSB, if they have an existing significant presence in the UK. In a speech made at a dinner for UK business group CBI on Thursday night, Chancellor Alistair Darling signalled that when government support... learn more »
Market Myths
‘Sell in May, go away, come back on St Leger’s Day.’ This old stock market saying has been around for donkey’s years, the main problem with it being that not many people know when St Legers Day actually is. St Leger’s Day this year falls on Saturday 12th September, the date of the St Leger horse... learn more »
Housing Market Recovers… Or Does It?
Halifax today announced that house prices are on the rise again, up 1.1% in July, with the average house now costing £159,623. They also say that prices are up in the three months to July by 0.8%, with this being a more useful statistic in terms of quantifying underlying trends. This is the first increase... learn more »
The Credit Crunch is Over!
I had some good news come my way this morning. While hearing on the radio about Barclays Bank’s 8% rise in profits, to just short of 3 billion pounds for the year, a letter fell onto the door mat. It was from Barclays Bank, who I have been banking with since 1990, and it... learn more »