Mark Williams's Blog (104)

With benefit cuts and the failure of the government's Mortgage Rescue Scheme, homeowners must understand that they cannot rely on state help alone if they lose their income.

The Mortgage Rescue Scheme was intended to help 6,000 households struggling to pay their mortgage: in its first two years it has helped just 2,600.

Not only that, but the scheme is over budget, with…

More than three-quarters of people are happy for their parents or grandparents to use equity release to help fund their retirement, despite property being seen as a key part of inheritance, according to recent research.

It revealed that the topic of inheritance remains taboo, with 63% of Britons having not or refusing to talk…

Lenders continue to cut fixed mortgage rates in an attempt to get borrowers to switch away from their variable rate deals.

The latest research has revealed the average five-year fixed mortgage rate has fallen below 5% for the first time since records began in 1988.

While the average…

Borrowers currently opting for a capped rate mortgage have been warned they might never reach the cap.

With borrowers increasingly nervous about when rates might start to rise, demand for the mortgages, which have a ceiling that the mortgage rate will not increase above, has increased three-fold since November 2009, according to a recent report.…

The Sunday Telegraph reported on the 17^th that interest rates will start to rise in November.

Rates will rise in anticipation of falling inflation in the new year and an increasingly strong recovery, according to predictions from the Ernst & Young ITEM Club.

 Although major risks remain, Peter Spencer, ITEM's chief economic…

Borrowers with an offset mortgage who link their savings to their loan have earned £1.4 billion more than those who simply put the cash into a savings account, according to new research.

Around 460,000 people in the UK have an offset mortgage, and over the past two years it’s estimated they ‘earned’ £1.9 billion in interest savings. Putting those savings into a best buy savings account would have earned £534…

The FSA has written to the websites highlighting concerns over fair treatment of customers, following a review that found the websites were offering advice without the proper licence.

The letter called into question how the comparison websites were selling insurance and asked that the websites 'think carefully' about…

The Telegraph reports that the Bank of England has been urged to raise rates sooner and faster than expected by the world's central bank to retain its inflation-fighting credibility and "ward off" another financial crisis.

"Controlling inflation in the long term will require…

The BBC reports today that consumer group Which? is accusing banks and building societies of putting the squeeze on homeowners who have standard variable rate mortgages.

Which? warns that thousands will be pushed into financial difficulty when interest rates go up

ore than 40% of mortgage borrowers are now on standard variable rates, which…

Recent research has found that the number of fathers who have their income protected with an Income Protection policy has fallen a further 5% in the last two years.

It found that only one in five (22%) fathers now have income protection with two-thirds (64%) having life cover and less than a third (30%) critical illness cover.

This low take up could leave families…

Brits are twice more likely to insure their pets or mobile phones than their income, according to research.

However a clear north-south divide exists with Scots faring far better than the rest of the UK when it comes to when it comes to protecting themselves and their families, the Consumer Protection report revealed.

It found that Scots are the…

A mere 4% of people in the UK have income insurance, showing a dangerous lack of concern for the unpredictable economy. 

The YouGov plc survey, highlighted that, despite the recession, people are still overestimating their job security and have no plan B should they end up unemployed due to illness or redundancies.

The survey has presented some surprising statistics but…

Interest rates will rise this August, with a number of further increases taking the base rate to 2.75% by the end of next year, the British Chambers of Commerce (BCC) has predicted.

In its quarterly forecast, the BCC has again reiterated its belief that the base rate should be held until the last three months of 2011 at the earliest, but believes it will be increased in the third quarter.…

Yet for the over 55’s who are asset rich and cash poor, it is still a very effective way of helping realize ideas, plan inheritance properly – or in some circumstances, making ends meet as sadly trying to pay for your shopping with…

The Telegraph reports today that The Bank of England should raise interest rates before the end of the year or risk letting inflation run out of control, the Organisation for Economic Co-operation and Development has warned.

Despite downgrading its growth forecast for the UK for the third time in six months, it said:…

 Britons are failing to prepare properly for the prospect of death with many failing to secure the fate of their families and money, a report has said.

According to new research the nation's post-life planning is in a shocking state with almost two thirds (61%) of people not having a will, while one in ten of those with a will have told no-one else where it is.…

Families should plan for interest rates to rise gradually over the next two years, the Bank of England's chief economist signalled in an interview with the Financial Times.

Spencer Dale also made it clear that he personally foresaw a difficult outlook for the economy, saying he favoured an immediate interest rate rise even though the recovery is fragile.

Mr Dale is a member of the Bank's…

New research shows that an estimated 28 million of the UK population do not have any life insurance in place.

Research carried out on 5,148 UK Adults, shows that many are continuing to shun protection products including life insurance, critical…

A number of economists predict the Monetary Policy Committee will raise interest rates in August this year, to curb rising inflation.

In a poll conducted by the BBC, 14 out of 22 economists said they expect the MPC to boost interest rates from historic lows of 0.5% in August, when an inflation report is due out.

Four of the economists predicted there would be a…

Halifax has announced that it now requires borrowers to provide written proof of how the loan will be repaid before a mortgage offer is made. Until April 6, it only asked borrowers to say that they had a repayment vehicle in place before the mortgage offer.

It is the latest example of banks and building societies tightening their lending criteria amid growing fears that home owners…