UK Finance News

UK home repossessions have grown to 11,300 during the third quarter of 2008 says a report from the Council of Mortgage Lenders (CML).
The previous three months had recorded 10,000 families losing their homes because they were unable to meet mortgage repayments. There was a slight increase in the number of homeowners falling into arrears of [...]

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More customers are ‘rushing’ to put their savings into smaller ‘ecologically correct’ banks according to financial reports today.
The trend was spotted in Belgium, when the credit crunch hit it’s largest bank Fortis, it was Triodos that became one of the most popular banking institutions to benefit. The Triodos ethos of investing in tangible products such [...]

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State owned Northern Rock have enraged critics by announcing that it’s staff will earn bonuses of up to 60% of their salary as part of an incentive scheme.
Northern Rock staff and executives will be paid the bonus as a reward for repaying the government loan of £26billion as early as possible.
The Tax Payers Alliance have [...]

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The Bank Of England has announced a half percent cut in interest rates as an emergency measure thrashed out with the World’s bankers throughout last night. The Federal Reserve, European Central Bank, Swiss, Canadian, Swedish and Chinese Central banks all announced similar cuts at the same time.
The cut was made only hours after the British [...]

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It appears that the proposed takeover of HBOS by rival bank Lloyds TSB is in danger of causing more problems than it sought to solve. Shares in HBOS fell in this mornings trading by 11.5% and Lloyds by 7.1% as experts realised that a merger would not solve the underlying problems of HBOS supposed under [...]

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