credit crunch

The credit crunch: one year on

Rebecca Atkinson — Wed, 30 Jul 2008 16:37:57 +0100

Northern Rock

Taxpayers' cash may kick-start mortgage market

Rebecca Atkinson — Tue, 29 Jul 2008 13:01:46 +0100

The Treasury has ruled out setting up an US-style government-backed lender to kick-start the UK’s flagging mortgage market, but has hinted that it may allow banks to swap mortgage debt for taxpayer guaranteed bonds.

Why are Britain's biggest funds sinking?

Chris Thomas — Mon, 21 Jul 2008 10:48:32 +0100

2008 is not proving good for investors in the UK’s biggest and most popular funds. Some of the most well-known names in the game have been caught out by the credit crunch and have posted dismal performances.

Credit crunching starts at home

Nargis — Wed, 21 May 2008 14:33:48 +0100

I’m really bad at remembering to switch off the light when I leave a room. I guess that makes me bad for the environment. But as that famous saying goes, charity begins at home and so does credit crunching.

The Credit Crunch Dilemma - Staying in or going out?

Nargis — Tue, 20 May 2008 07:52:05 +0100

"But London's so expensive!" said my best friend when I tried to invite her out for a night out on the town last night. And this wasn't one of my always broke university friends either. With a little help from my other best friend, Google, I decided to find out about all the free things you can do in London, here's what I discovered:

Middle-classes hit by debt crisis

Rebecca Atkinson — Mon, 19 May 2008 12:42:04 +0100

Seemingly affluent households are increasingly seeking debt advice as the credit crunch hits middle-England, debt organisations have reported.

Transact, a network of over a thousand debt and financial inclusion organisations, says middle-class households who took advantage of the glut of cheap credit over the past few years are now feeling the pain of price hikes.

People who took out cheap mortgage deals two years ago are suffering from payment shock while those looking for personal loans and credit cards are being stung by higher interest rates and charges.

Transact says it saw an 85% increase in people seeking financial help in 2007, with a massive 234% increase in the affluent area of Tunbridge Wells.

Is the mortgage market on the road to recovery?

Rebecca Atkinson — Wed, 14 May 2008 12:07:43 +0100

The mortgage market could be on the road to recovery as Abbey becomes the latest lender to reduce interest rates on its mortgages.

Rising number of borrowers at risk of repossession

Rebecca Atkinson — Fri, 09 May 2008 10:17:39 +0100

The number of borrowers at risk of having their homes repossessed has soared in the past year with 38,688 possession claims made in the first three months of 2008 alone.

Official government figures show that possession claims made by banks in the first quarter of 2008 were up 7% from the previous quarter and 16% from the same period last year.

They also show that the number of possession orders issued by the Country Courts has risen by 17% from 2007 to 27,530.

Possession claims are made by mortgage lenders when a borrower fails to meet their repayments for a certain period of time. Possession orders are those granted by the courts for the lender to evict the borrower and take the property into their possession.

Rents on the rise as buy-to-let mortgages disappear

Rebecca Atkinson — Wed, 07 May 2008 11:09:18 +0100

The cost of renting a home is set to increase as the credit crunch hits landlords and the buy-to-let market dries up.

Average rents have already risen by 12% over the past six months to reach a new record of more than £1,000 per month, according to buy-to-let lender Paragon.

And this trend is set to continue as the ongoing credit crunch puts pressure on buy-to-let mortgage rates. Moneysupermarket.com says the number of buy-to-let mortgages available has fallen by 40% in the past 30 days alone.

Every cloud has a silver lining

Rebecca Atkinson — Tue, 06 May 2008 13:09:25 +0100

We all know the impact the credit crunch is having on the cost of borrowing - the mortgage market is in a state of flux, while credit card companies are cracking down on who they lend to.

Meanwhile, the housing market slowdown continues, fuel and food prices are creeping upwards and global stockmarkets are still looking turbulent.

But is it all doom and gloom? They say that every cloud has a silver lining, even if it isn’t always that easy to spot.

So is anyone winning as a result of the credit crunch?

Pensioners