Archive for the ‘Economy’ Category

Fight Debt Pay With Cash

With the ongoing mortgage crisis still unfolding, a lot of homeowners have had to go to great lengths to keep on track with their mortgage – even using their credit cards to make mortgage payments!

While credit cards can be a great thing to have in case of emergencies, they have a lot of harmful side effects and it can be argued that they are bad for society as a whole. Once it was the norm to pay with cash. If you couldn’t afford something, you simply didn’t buy it. (more…)

Rent Hits All Time High

UK rents surpassed their pre-downturn peak in September to reach a record high,  according to the latest Buy-to-Let Index.

In September,  UK rents rose to £689,  exceeding those seen in August 2008,  the previous market high.  The average UK rent is now 3. 1% higher than at the same time last year,  following 8 consecutive months of rises. (more…)

House Prices Lowest In 16 Months

A new survey from the Royal Institution of Chartered Surveyors indicates that House prices in England and Wales experienced their largest fall in September since May 2009.

The RICS house price index dropped to -36 in the three months to September from -32 in the three months to August, a drop that the RICS has blamed on supply pressures as homeowners’ rush to sell before public spending cuts kick in next year. (more…)

Easy Ways to Lower Your Cost of Living

Easy Savings

There have been many articles and books written about ways to lead a stress-free life, and a good many of those publications suggest lowering your cost of living as a good start.

For average or even high earners, lowering your cost of living is an immediate way to get more money. Also, by lowering our expenses we begin to think more about the things we are doing and spending our hard-earned money on. (more…)

Home Loan Approvals Are Up

Home Loans

Home loan approvals rose a little in March, after a slight drop in February, almost 20% up on the year. Mortgage lending has eased off as homeowners paid off debt.

Approved loans for house purchases rose to 34,905 in March from 33,360 in February and up from 29,212 in March 2009 according to The British Bankers’ Association.

The BBA said the figures indicated the effect of the reversal of a temporary increase in the property tax threshold at the start of the year. This had impacted the demand for home loans in February. (more…)

UK Inflation Up More Than Expected

UK Inflation

The Office for National Statistics have said that consumer inflation rose more than anticipated in March, led by a knock-on effect from gas bills that remained static last month after falling a year ago.

Consumer inflation rose to 3.4% in March from 3% in February, another contributing factor resulting in the increase was higher fuel and air fare prices. (more…)