Thursday, May 04, 2006
Are debt charities becoming more vocal?
Daily Mail - Vorderman criticised over TV ads
Debt charities today urged television presenter Carol Vorderman to stop promoting companies that offer debt consolidation loans that put people's homes at risk. Credit Action said Vorderman's profile could cause people to think debt consolidation was suitable for them when it was not.
The future's bright, but not with Orange
Telegraph - Orange axes up to 2,000 UK jobs
Mobile phone giant Orange is to axe between 1,800 and 2,000 jobs in the UK as it takes the knife to costs following the integration of its Wanadoo UK Internet business. The France Telecom-owned company said its cost base needed to be 15pc leaner.
No change for UK interest rates
Guardian - Interest rates remain unchanged
The Bank of England today left interest rates at 4.5% for the ninth month running, amid signs of a recovery in the UK manufacturing sector and suggestions that the next move may be upwards.
Halifax bucks the trend
This is Money - Halifax says spring house prices up £4,000FT.com - UK housing market picks up speed
Britain's biggest mortgage lender Halifax said prices surged by 2% last month, the largest monthly increase for two years, pushing annual inflation up to 8%.
Worrying reading on the UK debt mountain
Credit Action - April debt statistics update
According to the Council of Mortgage Lenders (CML) total household debt has grown sharply as a percentage of disposable income over the past decade and currently stands close to 150%. At the end of 2005, the secured debt to income ratio was 121%, compared to 80% in 1995. And the unsecured debt to income ratio was 24%, almost double that of 10 years ago.
Wednesday, May 03, 2006
CEBR expects house price inflation of 6%
My Finances: House prices to rise 6%
House prices in the UK could rise six per cent this year, a new report finds. While this is far less than the returns experienced in the last decade, a six per cent rise is faster than many analysts predicted at the start of the year.
Rates rise again in Oz
ABC News (AUS): Rates rise will hurt consumer spending, retailers warnNZ Herald: Interest rates to rise across Tasman
The retail industry says it is shocked by the latest rise in interest rates. The Reserve Bank has decided to lift rates by 0.25 per cent.
Tuesday, May 02, 2006
Which direction for BOE rates?
Telegraph - Strong housing ends rate cut hopes
Hopes for another cut in borrowing costs are rapidly disappearing, amid fresh figures showing that mortgage lending is soaring, consumers have taken to the shops again and even the long-forgotten manufacturing sector is back on form.
Roll up, roll up, UK for sale!
National Statistics - Foreign buyouts of UK companies on the increase [PDF]
Expenditure on acquisitions in the UK by foreign companies increased from £15.5 billion in quarter four 2005 to £19.4 billion in quarter one 2006. Expenditure on acquisitions abroad by UK companies decreased from £13.8 billion in quarter four 2005 to £6.8 billion in quarter one 2006.
Declining birthrate yet not enough houses?
Guardian - Britons put work and fun before babies
Britain's low birthrate is being driven by a generation of potential parents who would rather get rich and have fun than start a family, according to a Guardian/ICM poll published today.
More mortgages taken out in March
Reuters - Mortgage approvals up in March
The number of mortgage approvals for home purchases jumped in March to its highest level in nearly two years, British Bankers' Association data showed on Tuesday. BBA director of statistics David Dooks said the data were likely influenced by the fact that there were more working days in March.
Commercial property benefits from foreign investment
FT.com: Mideast investors boost UK property activity
Middle East investors spent £1.3bn ($2.4bn, €1.9bn) on the UK commercial property market last year - twice the amount they invested in2004 - as they continue to redirect funds away fromthe US.
Society of debt
The Observer: Eight million owe more than £10,000
A report on the record levels of personal unsecured debt.
Monday, May 01, 2006
Barclays Boss takes out mortgage with HSBC
Sky News: Bank Boss Takes Out Rival Mortgage
The boss of Barclays has taken out a mortgage with rival HSBC, it has emerged. Barclays chief executive John Varley mortgaged his £1.5m town-house in London with HSBC last year, according to the Sunday Times.
April boom in London and the South-East
Hometrack - House prices rise 0.6% over AprilSky News - London drives new boomThis is Money - Lack of homes boosts pricesMSN - House prices rise 0.9% in year to April
House prices have risen by 0.6% in April according to the latest survey from Hometrack, primarily in London and the South East. However, prices remained unchanged across 60% of the country and there are some early signs that levels of market activity may start to slow in the run up to the summer.