Slow Change In Savings And Mortgage Rates Following Interest Rate Rise

Last week's highly anticipated interest rate hike has been slow to provoke reaction amongst savings account providers and mortgage lenders.

Out of the hundreds of particpants in the market, only 42 have announced changes will take place and out of these as yet, only 24 have actually implemented that change according to Moneyfacts.co.uk

Almost all of the savings account providers that have made the change, have passed the full 0.25% rise onto their customers with a small number adding more to their rates than the initial Bank of England base rate change.

Analysts have predicted a further rise from the BoE at some point later this year although early signs are that the four increases since August 2006 are now beginning to take effect with new mortgage applications widely reported to be dropping and house price rises slowing at a much faster rate than for some considerable period of time.

For more information, hints, tips and money-saving ideas, visit FeelGoodLoans.co.uk

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Signs of maturity...

You keep more food than beer in the fridge.

Who Wants To Be A Trillionaire? ...In Debt, That Is!

A new report reveals that the British cannot get enough of the finer things in life and are not afraid of going in to debt to get them.

In an article from Reuters (London), Neil Mason, senior retail analyst at the consumer research group Mintel said, "It takes a lot to dampen down consumer confidence as last year Brits continued to spend, spend, spend!"

In the Mintel report, consumer spending on things like holidays, cars, clothes and eating out hit £1.09 trillion in 2006 which represented a 9% increase on the previous year. With interest rates at some of their lowest levels in years and the economy booming, it is easy to see why. Mintel goes on to say that the consumer should beware however. With interest rates now on the increase and with further hikes muted in the near future in an attempt by the Bank of England to reign in inflation to within govenrment targets, there are fears of a significant number of people falling into arrears which may then fuel a slump.

For more information, hints, tips and money-saving ideas, visit FeelGoodLoans.co.uk

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Good comebacks...

Man: "I would go to the end of the world for you.
Woman: "Yes, but would you stay there?

Wage Growth Highest For Seven Years

Employers are finding it increasingly difficult to fill vacancies which is leading to higher wages - a report claims.

The KPMG/REC report shows that for April 07, wages for permanent staff rose on their index at the fastest rate for 82 months. Temporary staff rates eased which is surprising as the number of placements climbed to the highest rate for a decade.

Government fears of a wage price spiral have so far not materialised even though inflation is comparatively high for recent times - analysts preferring to put the blame on house price growth.

For more information, hints, tips and money-saving ideas, visit FeelGoodLoans.co.uk

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Good comebacks...

Man: "I want to give myself to you."
Woman: "Sorry, I don't accept cheap gifts."

Interest Rates Highest For Six Years

We've been through 'black wednesday' a few years ago but yesterday could arguably be described as 'black thursday' as the Bank of England's Monetary Committee met to agree a hike in interest rates to 5.5%, the highest level in six years.

Rising one quarter percentage point, and following the US Federal Reserve's decision to miantain interest rates at 5.25%, the UK now officially has the highest interest rates in the 'Group of 7' rich countries club.

With the UK economy running at top speed, and firms confident about increasing their prices, the decision was widely anticipated and is the fourth increase since August of 2006. It is hoped that the increase may stave off rising inflation, currently standing above government targets at 3.1% and which was a recent sticking point between the Chancellor and the BoE.

For more information, hints, tips and money-saving ideas, visit FeelGoodLoans.co.uk

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Good comebacks...

Man: "I know how to please a woman."
Woman: "Then please leave me alone."

HIPS Implementation Criticised in Lords

On June 1st this year, Home Information Packs will become mandatory as part of the house sale process, but the new legislation has been widely criticised by the housing industry and now in the Lords, from a report by Reuters (London).

HIPS are designed to shift part of the burden of provision of proof of suitability of a residential property from the buyer to the seller, containing information and reports including energy efficiency and optional home condition reports. The government believe that the introduction of the new legislation will both dramatically reduce the number of house sales that fall through and all of the costs associated with them currently borne by the buyer in the chain and at the same time, stimulate innovation in the market generally.

With widespread condemnation of the scheme from industry professionals and commentators alike, it remains to be seen whether they will be warmly accepted by the public who will ultimately be the ones to decide their fate. Many experts believe that their introduction may significantly slow the housing market and in turn, put the wider economy into reverse. Equally, many estate agents, conveyancors and solicitors who depend on the housing market to provide their income may find themselves in severe difficulties if the slowdown actually takes place. We will watch with interest!

For more information about all aspects of finance, hints, tips and money saving ideas, visit FeelGoodLoans.co.uk

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Great golfing quotes...

"You can make a lot of money in this game. Just ask my ex -wives. Both of them are so rich that neither of their husbands work." -- Lee Trevino