Lenders plead for rate cut help - Published:04/12/07
Mortgage lenders have made a plea for the Bank of England to slash interest rates to shore up their financesThe newest report from the Council of Mortgage Lenders (CML) warns that, "funding pressures have in progress to crystallise for a number of lenders"It says their aptitude to borrow from other financial institutions is getting worse, not betterThe CML says the store of England should consider cutting interest tax sooner rather than later"November's price rises Report appears to anticipate at least two 025% interest rate cuts next day," it saysThe Bank of England's Monetary Policy Committee meets next week for its regular journal gathering to set interest ratesThe overall impact is to limit the availability of mortgage praise and to raise its cost for potential borrowersIts members may feel that the challenges presented by the credit crisis in financial markets and the evils at Northern astound mean that it is time to cut interest tax from their present level of 575%The Bank's Governor, Mervyn King, has already announced that he will make additional funds available to the banking system between now and the end of the day, to ensure that banks have enough cashAnd in the history week two lenders - the Bradford and Bingley and the coalition & Leicester - have managed to hit deals with other banks to raise billions of pounds in extra fundsHowever, the CML's comments points to the possibility of a dramatic shrinkage in the aptitude of mortgage lenders to lend money next day, if they cannot borrow extra funds in the "still dysfunctional" monetary marketsIf that gap cannot be made up by lenders borrowing in the wholesale markets then the mortgage valve may be turned off"Firms have various other options, including the aptitude to influence the volumes of new lending business they write in row with their financial support pipeline," said the CML"But, the overall impact is to limit the availability of mortgage credit and to lift its cost for prospective borrowers," it warnedarea East AngliaEast MidlandsGreater LondonNorthNorthern.
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Pick The Right Travel Insurance Policy - Published:01/12/07
Winter is truly upon us, and with its arrival many of us will be looking to go on holiday to hit those winter blues But for anyone jetting off this winter, it's also significant to ensure you have the right journey insurance to cover you should things go wrongAccording to Bradford and Bingley, December is a expensive month when it comes to insurance claims Treatment for a broken leg at the same time as skiing in France, for example, can price anywhere from 750 to 5,000So, if you decide to go away, it's always advisable to take out a good travel cover policy before you set off, as you could be left with a hefty bill should you go on holiday uninsuredIf you put on't choose the right rule, however, you could end up paying more in premiums than you require to Different insurers take different factors into account when calculating a quotation and this can dramatically have an effect on the price of your policyWhen it comes to travel insurance, the 18 to 54 year-olds among us should usually find no problems in obtaining a quote, with most policies offering comprehensive wrap at competitive pricesThankfully, it's good news for children under 18, as many family or solitary parent policies will cover brood at no extra cost Some insurers even wrap your kids up to the age of 23 if they're travelling under a relations policy -- provided they are still in full-time education But be aware that non-dependents are generally not coveredIf you're over 65, it's a less rosy image, as many insurers will hike up your premiums or just refuse to cover you at allBut there are a small number of insurers that do present cover for over 65s at spirited prices Our travel insurance centre offers both annual and solitary trip cover for individuals up to 74 existence For older travellers, both Marks and Spencer and Direct Line have no upper age limits for their solitary trip insurance policies, and Churchill will insure anyone up to 99 yearsMost insurance companies are not eager to provide cover for pre-existing checkup conditions So if you do have a medical condition, and you want to create sure you're covered, it pays to supermarket around for a quoteFor example, Bradford and Bingley journey insurance policies will cover you for some pre-existing conditions, with annual policies obtainable for those up to age 79 and solitary trip cover for those up to 85 With these policies you can either pay an extra premium and cover your state, or exclude it from your best altogetherSimilarly, over-50s specialist Saga will take you through a health screening process, asking a sequence of specific questions about your symptoms and individual circumstances They will then use this information to factor any essential extra cover into your premiumsEither way, if you have a medical state you want enclosed, it's always best to speak to the insurer to clarify all the conditions of your contract Remember, an insurer can turn down your claim if it comes glow later that you failed to declare a relevant pre-existing checkup condition before you travelledWhen it comes to travel cover premiums, location is everything And with winter in full flow, many of you will be heading off to the slopes to enjoy the snowLots of annual cover policies now offer winter sports as an optional extra However, again, it's sensible to read the little print, as annual policies often cover a shorter festival period for winter sports trips than you would normally be covered for under a single policyIn addition, you should check if you're covered for any eventuality, such as sudden large amount and piste end, and for any activity, such as off-piste skiing and snowboarding -- especially if you're thoughts of venturing to the more adventurous slopes You may have to pay extra to make sure you are fully protected© Copyright 1998-2007, The Motley Fool Limited All rights kept This material is for personal use onlyput of Reg: England & Wales Company Reg No: 3736872 VAT Reg No: 735 7818 01 Registered Office:.
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Only a third save, say B&B - Published:25/10/06
Two thirds of people in the UK do not frequently save and a hardcore fifth of the inhabitants never makes any investments at all, says Bradford and BingleyOver ten per cent of persons surveyed said that they would rather spend their money on clothes, gadgets and go on vacation than put their cash in the best savings account they could findBut with the overall shape for household debt remaining over a trillion pounds,Bradford and Bingley says that there is a crucial imbalance between the amount that persons are spending and what they can have enough money to spend"The spending culture has certainly replaced the savings culture in the nation's consciousness," supposed Steve dabble, head of savings at Bradford and Bingley"With so many attractive interest-free deals many persons are being tempted to buy now and pay afterwards Just how much they will afterwards pay, however, leftovers to be seen"What's clear though, is that if customers don't start looking to the future and putting in place proper savings plans they'll be opposite many 'cash short of money' years," he addedBoth those who do and those who don't put aside could do better if they found the best savings explanation, say Bradford and Bigley, with only 12 per cent ever checking the savings marketplace, and 27 per cent proverb they never check ratesOnly six per cent said that they would move to the best savings account rates, 32 per cent would only move if there were significant differences and 11 per cent said they would not move at allSixty per cent just trust their bank or building society to give them the best investments account rate while 44 per cent have no idea how their explanation compares to the best investments accountMoneyExpert Limited is authorised and regulated by the Financial Services power (FSA Registration No 301654) The Financial Services power does not regulate some forms of mortgage contract,.
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