More help on credit for struggling families

More help on credit for struggling families

Action by Britain’s financial watchdog means thousands of struggling families across the country can still apply for new payment holidays on a range of credit agreements when their current deal ends. The Financial Conduct Authority (FCA) has told lenders they will still have to defer or suspend payments or even cancel interest charges for those …

95% mortgage plan under strong attack

95% mortgage plan under strong attack

Boris Johnson’s suggested return to 95% mortgages for first time buyers has come under strong attack from economist Josh Ryan-Collins. Head of Finance and Macroeconomics at University College London, Mr Collins believes that the introduction of such mortgages will bring about ‘inevitable house price inflation’. Affordability problems He said: “To say we have been here …

Negative interest rates ‘could be beneficial’

Negative interest rates ‘could be beneficial’

A second Bank Of England official has claimed that negative interest rates could be beneficial to the UK economy in the fight against the effects of the coronavirus pandemic. Professor Jonathan Haskell is an external member of the Bank’s Monetary Policy Committee (MPC) which is responsible for setting the country’s base interest rate. Positive evidence …