Scottish independence – B of E currency contingency plan

Bank Of England governor Mark Carney has admitted the Bank has drawn up contingency plans for what will happen to Sterling if the Scots vote yes in the independence referendum on September 18th. This is the first official confirmation that the Bank is making plans for different outcomes which could affect the financial stability of …

Britons face a lifetime of mortgage debt

Britons are increasingly facing a lifetime of debt if they want to buy their first home or take a step up the ladder. The number of borrowers opting for mortgage terms of 30 years or more has hit a record high, according to the Council of Mortgage Lenders (CML).

Interest rates to rise by the end of the year?

More than a third of UK brokers expect interest rates to rise before the end of the year. The Bank Of England Monetary Policy Committee have just voted to keep base rate at 0.5% for the 65th month in a row.  They also voted to maintain quantitative easing at £375 billion.

Energy price riggers to face jail

Anyone caught rigging wholesale gas and electricity prices can expect to face up to two years in jail if new government proposals become law in spring next year. Energy Secretary Ed Davies wants artificially fixing energy prices to be made a criminal offence punishable by a term in jail.

Investigate wholesale gas market too – MP

A senior MP has called for the wholesale gas market to be included in a new competition inquiry into the UK’s energy companies. Tim Yeo, chairman of the Energy Committee, says the investigation would be ‘compromised from the outset’ if wholesale gas prices were excluded.

Thinking of switching bank accounts?

Thinking of switching bank accounts, but not sure what’s on offer? Figures from the Competition and Markets Authority (CMA) show that almost four out of five people have their account with one of the big four high street banks – Barclays, Lloyds, HSBC and Royal Bank Of Scotland (RBS) who also own Natwest.