| News Stories for 18 Aug 2005 |
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| Council Tax Deferment for Pensioners Proposed |
| As part of a government-commissioned review of local taxation in England, Sir Michael Lyons is considering an option to allow pensioners to defer their council tax payments until they die.
The concept is that those who are home owners could pay their council tax in one lump sum out of their estat... |
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| News Stories for 17 Aug 2005 |
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| Buy to Let Investments Slow |
| The number of buy-to-let property purchases has fallen to its lowest point in two years according to the Council of Mortgage Lenders (CML).
The CML report that 93,400 buy-to-let mortgages were advanced in the first six months of 2005 compared to 97,800 in the second quarter of 2004 and is 22% bel... |
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| News Stories for 16 Aug 2005 |
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| Cheques to Disappear By 2025 |
| The use of cheques as a payment method has been declining rapidly and is expected to become an extinct practice by the year 2025 according to predictions by Halifax.
In 2004 cheques were used 7% less than the previous year and Halifax say that if the trend continues they will be out of circulatio... |
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| News Stories for 15 Aug 2005 |
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| Household Bills Rise at Four Times Rate of Inflation |
| Household bills rose by 5% over 2003/4 according to the Office of National Statistics; putting the increases at 4 times the rate of inflation which was just 1.1% for the same year.
The cost of household bills stood at £5,948 on average for that year; council tax alone soared by 11% on average and... |
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| News Stories for 12 Aug 2005 |
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| Manchester Leading the Way for Affordable Housing |
| Manchester is emerging as a leader in provision of affordable housing for key workers struggling to get onto the property ladder with the erection of affordable flats by Red or Dead founds Wayne and Geraldine Hemingway which cost less than £80,000 for studio accommodation.
Built in the heart of t... |
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| News Stories for 11 Aug 2005 |
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| Bank Dampens Rate Cut Rumours |
| Releasing its quarterly inflation report, the Bank of England today squashed rumours of further interest rate cuts this year by saying that inflation is on government target.
City analysts have been predicting that interest rates would be cut down to 4% by the end of the year, however the Monetar... |
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| News Stories for 10 Aug 2005 |
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| Lenders Respond to Indebted Britain |
| For the first time in years Britain’s lenders are responding to their indebted potential customer base by beginning to share customer data between themselves to help head off mounting bad debts which cut into profits.
Last week, Barclaycard, the country’s largest credit card provider, suffered ba... |
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| News Stories for 09 Aug 2005 |
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| Petrol Hits 90p Litre |
| Today the cost of petrol has soared to over 90p a litre on average and 94p a litre on average for diesel according to figures from price check firm Catalist, and those in remote areas can pay as much as £1 a litre at the pump for petrol.
Figures from AA Motoring Trust say that the average househo... |
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| News Stories for 08 Aug 2005 |
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| Disabled Persons Employment Drive Launching |
| A government task force is to launch a pilot scheme today, which aims to help those with mental health problems and learning difficulties find employment.
The initiative aims to take one million people off Incapacity Benefit, and into jobs - BBC Labour affairs correspondent Stephen Cape reported;... |
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| News Stories for 04 Aug 2005 |
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| Taxpayers Pay for Government Tax Credits Errors |
| A letter from Paymaster General Dawn Primarolo to Parliamentary Ombudsman Ann Abrahams has confirmed that taxpayers will be made to pay back any over paid tax credits even though the overpayment was not their fault.
In June Ms Abrahams called for a write-off of overpayments following widespread o... |
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| News Stories for 03 Aug 2005 |
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| EasyJet Launch No Frills Hotel |
| The founder of budget airline easyJet, Stelios Haji-Ioannou on Monday launched a ‘no-frills’ hotel in London, based around the concept of the capsule hotels popular in Japan.
The easyHotel accommodates 34 double rooms into a Regency terraced building, previously a 20 room dilapidated B&B; in Earls... |
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| News Stories for 02 Aug 2005 |
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| Tornado Damaged Cars Not Insured |
| Cars damaged in Birmingham’s freak tornado last week aren’t necessarily covered by their motor insurance according to the Association of British Insurers (ABI).
Hundreds of homes were affected by the sudden storm which hit the city at 2.45pm on Thursday, and also injured 20 people – 3 seriously.... |
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| News Stories for 01 Aug 2005 |
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| Free Cancellations to Egypt Come to End |
| Holidaymakers cancelling trips to Egypt following three bomb attacks at the
Sharm al-Sheikh resort which left 64 people dead, have no longer been able to do so without charge since Tuesday last week.
Tour operators gave customers until Monday to cancel their trips, and regulator Abta (the Assoc... |
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| News Stories for 29 Jul 2005 |
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| Energy Bills to Rise Once More |
| Powergen, the UK’s second biggest energy supplier has announced imminent increases to its energy supply charges resulting from the soaring cost of wholesale purchase.
The group say that their gas bills will increase by 11.9% and electricity by 7.2% from the end of August, and will affect 5.2 mill... |
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| News Stories for 28 Jul 2005 |
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| Age Discrimination Law Could Result In Longer Mortgages |
| Anti-age discrimination laws will come into effect from 1st October 2006 that could pave the way for longer mortgage repayment periods.
The new rules will ensure that employees cannot not be forced to retire at age 65, and may affect lending policy also according to Ray Boulger a mortgage broker... |
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| News Stories for 27 Jul 2005 |
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| Credit Card Industry Launches Debt Advice Website |
| The credit card industry has launched a website called ‘choosing and using’, which is aimed at helping people choose the right credit card to suit their circumstances, and avoid building up debts.
There are over 1,500 credit cards to choose from across the UK, and whilst the website does not comp... |
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| News Stories for 26 Jul 2005 |
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| Low-Risk Split Caps Compensation Processing Begins |
| The processing of 40,000 claims for compensation following investment in what were sold as ‘low-risk’ split capital investment trusts has begun, and it is expected that payouts will average £3,600.
Low-risk split capital investment trusts were often marketed to the elderly and parents saving towa... |
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| News Stories for 25 Jul 2005 |
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| Unhappy Couples Stay Together For Money |
| Research from Skipton building society has shown that increasingly couples are staying together less because they are happy, and more due to the fact they would struggle financially if living alone.
Out of those questioned one in twenty admitted they would be more likely to consider splitting up... |
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| News Stories for 22 Jul 2005 |
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| European Shopping Refunds Not Guaranteed |
| Shoppers making complaints to the European Consumer Centre (ECC) have found that purchases made outside of the UK are not covered by section 75 of the Consumer Credit Act, which holds the credit card company equally as liable as the supplier for any breach of contract.
The amount of shoppers in c... |
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| News Stories for 21 Jul 2005 |
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| Experts Predict Games Will Increase London Property Prices |
| According to analysts at Halifax and the Royal Institute of Chartered Surveyors, following their win of the Olympic bid London is set to see property prices increase over the capital.
Tim Crawford, group economist at Halifax, said, "Hosting an Olympic games encourages city regeneration and is usual... |
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| News Stories for 20 Jul 2005 |
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| Leeds & Holbeck Release Penalty Free Fixed Mortgage |
| Yesterday Leeds & Holbeck Building Society launched a three year fixed rate mortgage which carries no repayment penalties or tie-ins.
The product offers a competitive interest rate of 4.99%, which is fixed until October 1st 2008, and borrowers will be allowed to make an unlimited amount of repaym... |
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| News Stories for 19 Jul 2005 |
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| Motor Insurance Quotes a Lottery |
| Most drivers are unaware that motor insurers operate a system of quoting where the insurance premiums they offer one day, may vary by as much as £160 or more when you are quoted on another day.
Insurers seek to balance their customer base over a period of time by using what is called ‘dynamic pri... |
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| News Stories for 18 Jul 2005 |
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| Fixed Rates Fall |
| Last week Nationwide building society, amongst other lenders, announced cuts to their fixed rate mortgages for the second time in three weeks.
Nationwide has dropped its two-year fixed rate loan to 4.39% from 4.49%, its three-year and five-year deals have been cut by 0.1% for those that have a 10%... |
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| News Stories for 12 Jul 2005 |
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| Bank of England Keep Rates on Hold |
| The Bank of England left interest rates unchanged on Thursday for the 11th month in a row despite analyst predictions that the London bombings that same morning will have a negative impact upon already low levels of consumer spending.
The announcement was made just two hours after the attacks; co... |
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| News Stories for 11 Jul 2005 |
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| Insurers Reassure Terrorism Victims |
| The UK’s biggest insurers have reassured victims of London terrorist bombings that they will not be enforcing the standard insurance policy exclusion for claims resulting from acts of terrorism.
The Association of British Insurers has warned victims that many insurance policies exclude acts of te... |
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| News Stories for 08 Jul 2005 |
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| London Bombs May Equal Financial Fallout |
| Yesterdays terrorist bomb attacks on London are likely to impact on UK economy over the coming months according to analysts who expect consumers and tourists to avoid the capital city for some time.
The attacks, which resulted in at least 37 dead and 700 injured, took a total of around £17 billio... |
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| News Stories for 07 Jul 2005 |
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| European Stocks Plummet in Wake of London Bombings |
| European stock markets plummeted today in the wake of the multiple terrorist attacks on the capital city this morning.
As news teams reported on the scale of the bombings stocks dropped across Europe; at midday the UK’s FTSE 100 index was down 144.80 points at 5084.7, the DAX in Frankfurt plunged... |
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| News Stories for 29 Jun 2005 |
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| Debt Advice Agencies Given £45million Government Funding |
| This week the government has allocated a fund of £45m to organisations such as the Citizens Advice Bureau, to help provide advice for those suffering from debt problems.
The funding will be used to recruit and train hundreds of new debt counsellors, who will help members of the public find ways o... |
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| News Stories for 28 Jun 2005 |
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| Mortgage Approvals Slump |
| The number of mortgage approvals fell last month by a quarter compared to the same time last year, re-igniting fears that the property market will suffer a slump.
The expectation has been that the housing market will experience a slowdown in prices rather than a sharp correction. The number of mo... |
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| News Stories for 27 Jun 2005 |
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| Pension Changes Offer Investment Property Tax Exemption |
| Next April the government is due to offer tax exemptions which will allow people to hold buy-to-let investment properties in their pension fund.
The move is expected to amount to £2bn a year in tax exemptions, and according to a report from analyst Datamonitor, will attract Britain’s wealthiest i... |
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| News Stories for 24 Jun 2005 |
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| Nationwide Gives £100 to Homeowners Rising to Challenge |
| Nationwide has challenged mortgage customers of Abbey, C&G;, Halifax, HSBC, NatWest and Woolwich to find a better deal with their current lender than a rate offered by Nationwide, and receive £100 if they achieve this.
Nationwide say that 200,000 fixed rate deals come to an end this summer, and ho... |
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| News Stories for 23 Jun 2005 |
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| Parents Act to Stop Loan Advertising |
| Parents have started a petition to stop loan companies advertising on children’s television channels that has attracted 22,000 signatures over just two days circulation on the Internet.
Campaign organiser, and financial expert Martin Lewis was prompted to start the petition when his ten year old... |
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| News Stories for 22 Jun 2005 |
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| School Holiday Travel Costing 89% More |
| Recent research from Morgan Stanley has found that it can cost travellers up to 89% more to book a holiday during the school holidays.
Those intending to visit the French Riviera during mid-August will pay as much as 89% more than if travelling in term time; a fortnight away in a half board hotel... |
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| News Stories for 21 Jun 2005 |
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| Property Purchase Remains Cheaper Than Renting |
| Despite soaring property prices it remains £37,000 cheaper to purchase a property when compared to renting over a 25 year time span.
Research from high street bank Abbey shows that over a 25 year period the cost of purchasing the average property comes in at £326,849, yet renting a property over... |
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| News Stories for 18 Apr 2005 |
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| Home Sellers Packs Would Go Say Conservatives |
| Shadow housing minister to the Conservative party John Hayes, last week told voters that should they win the general election the home information pack scheme would be immediately suspended.
Home sellers packs are due to become a legal requirement from 2007, and mean that people selling their hom... |
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| News Stories for 15 Apr 2005 |
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| Pensioners No Longer Forced into Index Linked Annuity |
| New pension rules mean that those retiring with a money purchase pension scheme will no longer be required to use their funds to buy an index-linked annuity.
All funds paid out before 6th April had to ensure their members received pensions which escalate each year in line with inflation, however... |
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| News Stories for 14 Apr 2005 |
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| Labour Releases Election Manifesto |
| Labour launched their 112 page election manifesto this week, called Britain Forward Not Back, and after eight years in power Tony Blair says he is fighting for his last election.
The document includes a pledge not to increase basic or top rate income tax, and they say they will not add VAT to foo... |
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| News Stories for 13 Apr 2005 |
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| Scottish Town Top of Hotspot List |
| According to Halifax’s longstanding house price index, Bellshill in Strathclyde, Scotland has soared to the top of the property hot spot list, with average property prices seeing growth of 46%, 5 times the UK’s average property price inflation of 9.7%
In Scotland overall property prices have grow... |
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| News Stories for 12 Apr 2005 |
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| Lenders Due to Offer Lower Fixed Rates |
| Bradford & Bingley have alerted borrowers to the fact that ‘money market’ swap rates, which are the rates at which lenders purchase money on the markets, have fallen from 5.25% to 5%, allowing many to lower their fixed rate deals.
The swap rate decreased at the beginning of March, and it’s antici... |
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| News Stories for 11 Apr 2005 |
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| Online Financial Product Sales Soar |
| The sale of financial products such as motor insurance is expected to grow by 27% this year from 2004 figures according to a report by Sainsbury’s Bank.
Sainsbury’s say they have seen the number of visitors to its financial services website increase by 208% over the last year, with the highest vo... |
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| News Stories for 08 Apr 2005 |
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| London Increases Congestion Charging to £8 |
| Ken Livingstone has announced his intention to increase the London congestion charge to £8 from 4th July.
The charge first came into force in February 2003, and has since reduced traffic congestion in central London by 30% now that 70,000 fewer vehicles enter the charge zone each day.
The char... |
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| News Stories for 07 Apr 2005 |
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| Pension Protection Fund Launches |
| Yesterday saw the launch of the Pension Protection Fund (PPF), which aims to pay out compensation to those who loose their final salary pensions when the firms they are employed by go under.
The fund acts as an insurance policy and pays out if a company pension scheme is wound up. It aims to cove... |
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| News Stories for 06 Apr 2005 |
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| Brown Promises A Million New Homeowners |
| Gordon Brown has promised Britain a million new homeowners should Labour win the election campaign, saying that the party wishes to create a "home-owning, wealth owning, asset-owning democracy" in the UK.
He has pledged to construct 15,000 starter homes on former NHS sites in England, and said th... |
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| News Stories for 05 Apr 2005 |
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| Mortgage Equity Withdrawal Wanes |
| Recent figures released by the Bank of England show that the amount borrowed by people accessing the equity in their homes to fund holidays, and car purchase for example has dropped, stands at half its level of six months ago and is at its lowest since 2001.
Equity withdrawal, which is where a ho... |
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| News Stories for 04 Apr 2005 |
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| Elderly Care Fees Climbing Fast |
| Charity Help the Aged have expressed concern over the rising cost of care homes for the elderly; fees have increased by a third in the last five years, outstripping the 15% increase to average retirement incomes over the same period.
In addition, Help the Aged anticipate that additional increases... |
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| News Stories for 01 Apr 2005 |
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| Halifax Links Property Prices with School Performance |
| Following research examining the GCSE results of schools across the country, Halifax has found that there is a distinct correlation between attainment and property prices; property prices were found to be elevated in the catchment area of a well performing school.
Halifax says that houses inside... |
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| News Stories for 31 Mar 2005 |
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| Barclaycard Launch Combo Credit Card & Loan Product |
| Barclaycard have unveiled a new product believed to be the first of its kind in Britain, which will offer customers a combined credit card and loan facility.
Admitting that the new product aims to acquire a greater share of customers overall borrowing, Barclaycard said that they will be writing t... |
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| News Stories for 30 Mar 2005 |
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| First Time Buyers Still Pessimistic In Wake of Budget |
| According to a recent report by Abbey, first time buyers still feel unable to afford to purchase their first home, despite Gordon Brown recently announcing in the budget that he would double the threshold at which stamp duty is payable to £120,000.
Abbey’s report reveals that although a third of... |
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| News Stories for 21 Feb 2005 |
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| Ofcom Consider Ban on 0870 Helplines |
| Telecoms regulator Ofcom is considering implementing new rules on revenue sharing between call centre owners and telecoms providers. The controversial plan would effectively put an end to expensive 0870 helplines.
It has been estimated that in 2003, 0870 numbers cost consumers a staggering £1.25... |
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| FSA Clampdown on Illegal Mortgage Brokers |
| A nationwide crackdown has been launched by the Financial Services Authority, targeting unauthorised brokers who have not been approved by the FSA to sell or advise on home loans.
FSA managing director Clive Briault said, “Tracking down firms operating outside our regime is a major priority for th... |
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