Financial News

Old computers warning from consumer group
Credit card users may be at risk of having the identity stolen when they dispose of their old computers, it has been suggested. According to consumer watchdog Which? Computing, criminals are constantly

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Apacs issues card fraud warning
The different ways in which credit card payments are made in the UK and overseas is being misused by criminals, Apacs claimed today. According to the payments association, fraudsters are using compromised

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CML sees "conflicting pressures" for firms
New analysis from the Council of Mortgage Lenders (CML) on the financial crisis afflicting the property market was released today. The industry body said that banks were currently under severe pressure

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UK deficits 'a bar to euro entry'
An Italian member of the European Central Bank has suggested that the UK's public deficit and the instability of the pound will work against its entry into the euro. In an interview with La Repubblica,

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Interest rates reduced by Bank
The Bank of England cut interest rates to an all-time low today. Policymakers reduced the rate to just 1.5 per cent, down from two per cent. The bank has never offered loans so cheaply since it was founded

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Steep rate cuts forecast by economists
Experts are predicting further big cuts to interest rates from the Bank of England. Simon Rubinsohn, chief economist at the Royal Institution of Chartered Surveyors, said that he expects the Bank to cut

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Tory tax proposal 'could help stocks and shares ISAs'
The ISA sector could be helped by new Tory tax plans, according to Interactive Investor. In a speech earlier this week, Conservative leader David Cameron said that he planned to scrap income tax for savings

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Barclays 'goes contactless'
Contact-free payments are to be fitted as standard on new Barclays debit cards. The bank announced that "most" of the cards will have the chips installed from March. Contactless cards allow users

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Pound registers euro gains
The pound is up against the euro this week, with the release of worse-than-expected economic data on the continent. Eurozone inflation figures were found to have dropped from 2.1 per cent in November to

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Nationwide tracks 16% house price drop
The value of the typical UK property fell by 15.9 per cent over the past year to December. House price figures from Nationwide also show that house prices fell by 2.5 per cent last month. In November,

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Girlguiding UK offers debt tips
Pressures on teenage girls to spend big on store cards have led to a new pamphlet being issued by the Girl Guides. The "guide for Guides" covers credit card-related topics such as avoiding ID

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Cameron: I will scrap tax on savings
David Cameron has called for a dramatic shift of the economy - away from borrowing through loans and towards saving. The leader of the opposition said that, in order to achieve this change, he would scrap

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Consumer confidence 'dropped in December'
Consumer confidence hit another low last month, according to Nationwide. The financial firm's index dropped four points to 47 - as job loss fears rose among Britons. Unemployment recently hit an eight-year

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BSA upbeat on new lending data
The Building Societies Association (BSA) has said that it has "hope" for the UK property market's prospects, after publishing its new lending figures. According to the data, net lending stood

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Rate cut 'likely'
The Bank of England seems likely to cut its official rate when its Monetary Policy Committee (MPC) meets later this week. Markets appear to be pricing in a 50 basis point cut, bringing the rate to 1.5

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State aid widened for struggling homeowners
Homeowners will gain extra protection against repossession, the government has said. Ministers unveiled plans yesterday to extend the number of people covered by state help with their mortgage payments. In

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High dividends, rate cuts 'attracting investors to shares'
Shares are likely to become increasingly attractive to investors due to attractive dividend yields, DigitalLook.com analysis has shown. Recent cuts to interest rates from the Bank of England were also

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Savings used to pay off mortgages in Q3 2008
It has become more attractive for homeowners to use their savings to pay off loans in the current climate, an expert has claimed. Figures from the Bank of England indicate that around £5.7 billion

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'Tough' conditions predicted for 2009
2009 is set to be one of the "toughest" years to date, according to the British Chambers of Commerce (BCC). The organisation's January 2009 Economic Forecast estimates that GDP will fall by 2.9

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Brits 'shun' mortgage protection
Two-thirds (67 per cent) of Britons would not be willing to pay for mortgage payment protection insurance (PPI), according to Zurich. Analysts are forecasting tough financial conditions throughout 2009

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First Direct tops 'cheapest' mortgage chart
First Direct offered the cheapest standard variable rate mortgages in 2008, according to figures from Defaqto. The research firm compared the interest payable on a £100,000 interest only mortgages

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First-time buyers 'will benefit from house price falls'
The affordability of housing was boosted across 2008, according to Halifax. New data from the mortgage lender shows that the house price to earnings ratio - a measure of property affordability - stood

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Brits plan New Year credit card shifts
Over three million British people will shift around £7 billion between credit cards during the opening three months of 2009, a leading financial company has claimed. According to Abbey Credit Cards,

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House price "recovery" predicted for 2009
Property prices could begin to rise next year, as savvy buyers "cotton on" to bargain prices. According to new analysis from the National Association of Estate Agents (NAEA), this growth could

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Forecasts for 2009 recession made
Varying predictions have been made on the prospects for UK economic growth for 2009. The Centre for Economics and Business Research (cebr) has suggested in a new report that the economy would contract

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