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Responding to last night's vote on the EU Withdrawal Agreement, the chief executive of UK Finance warned that "time is running out to avoid a chaotic ‘no-deal’ Brexit that would be catastrophic for the UK economy". The Bank of England governor today said markets believe Brexit could be softened or even cancelled after Theresa May's catastrophic defeat last night.
The 61-year-old had been a home and contents insurance customer with the same provider for 20 years, and was eventually paying £2,000 a year. One phone call querying the cost reduced the annual premium to £750. Now the UK's competition watchdog has said millions of unsuspecting customers were being exploited by bad practices by firms. It has responded to a so-called super complaint from Citizens Advice which argues that loyal customers are being "ripped off" for mobile, broadband, savings, home insurance and mortgage deals.
Every 10 years or so a financial crisis hits global markets and its 10 years since the last one. This week the IMF warned that not only are the storm clouds of the next global financial crisis gathering, but also that the world financial system is unprepared for another downturn.
Feeling a little lost on Brexit? Never really got your head around it in the first place? Let us walk you through it.
The recent IMLA report ‘Bridging the gap: developments in later life lending to an ageing population’ suggests that the number of over-65 homeowners has increased by a half in the last 20 years, from 4 million to 6 million. Never have older borrowers had so much power over the property market, and whilst this market is thriving, it is also influenced by several different factors, including increased regulation as consumers increasingly buying for the first time in their late 30s or 40s.
