Do you have significant debts as a result of overspending? If you do, you are not alone. Modern society makes it particularly easy to spend more than we really should. However, if you want to clear your debts and have greater peace of mind, it is important to tackle the root cause which is overspending. [...]
Ways to Beat the Financial System
Financial companies seek to make money out of us. By and large they are very successful. This means we need to be wary of their attitude as they see individuals as profit opportunities. We need to bear in mind, that to save ourselves money we will have to see through their sales technique, small print [...]
House Price Statistics
Despite a set back in prices since late 2007, UK house prices have not fallen by as much as might be expected. For example, UK house prices have not fallen by a similar amount to US or Spain. House Prices Since 1960
How To Write A Letter of Complaint to Your Bank.
Many people miss out on a potential rebate or refund because they are reluctant to write a letter of complaint. For example, in the UK, there has been an investigation into the misselling of loan insurance (payment protection insurance). It has been estimated that the insurance schemes are so profitable that the banks keep upto [...]
How to Buy Your First Home 2011 Edition
The paperback and kindle book ‘How to Buy Your First Home’ was first published in the May 2011. This provides an up to date perspective on housing and how the market has moved in the last few years. Available from Amazon Phil Spencer is well known for his TV appearances with Kristie Allsopp and has [...]
Bad Mortgage Lending
Northern Rock came to epitomise the bad lending that contributed to the financial collapse and the last decade of financial nightmare. After the UK lenders were bailed out by the tax payer the housing market ground to a virtual standstill. Values plummeted and negative equity and repayment problems loomed. Progressively the issues are being worked [...]
Self Certification Mortgaged Certified Dead
Self Certification Problems ‘Self-certification mortgages set to be axed! FSA’s mortgage market review, due next week, is expected to require borrowers to produce proof of income in order to secure a mortgage’ Guardian 15 October 2009 ‘Self-certified mortgages, which saw more than a million people receive home loans without proving their income, are to be [...]
If 2011 Was Bad For Housing What About 2012
2011 has been a very tough year for those involved with housing, property and finance. The only saving grace has been the exceptionally low rates of interest available. If you didn’t have a mortgage or loan, then getting one was likely to be problematic despite the wishful thinking of the government and their weak initiatives [...]
Why are House Prices so Expensive in the UK?
When my great grandma bought a house in 1911, the price of the house was £600. This was pretty much what it would have cost to build from scratch. Today the average house price in the UK is closer to £200,000. Why are house prices so expensive? 1. Demand is greater than Supply. A very [...]
Historical Interest Rates
Readers Question: How can I find data on Historical interest rates nominal and real Graph of Interest rates since 1979 – 2011 Base Rates and Commercial Rates This graph shows how commercial banks do not necessarily follow the base rate changes. The very low interest rates of 2009, gave many commercial banks an opportunity [...]
