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Mortgages, UK »

[29 Oct 2010 | One Comment | 7,722 views]

Figures from the Bank of England show the number of mortgages approved in September has remained the same as the previous month at 47,474.
Net Mortgages were down on august but higher than July.
Personal loans and credit card borrowing has risen slightly in September and they will continue to rise towards the Christmas period.
Consumer credit was at £262 million by the end of September.
People are still adopting a cautious approach toward borrowing in this uncertain time surrounding the economy.
There is a great contrast compared to the boom in the autumn of 2007. In September of that year net lending increased by £10 billion. This year the figure is £112 million, around 1% of 2007.

Pensions, UK »

[27 Oct 2010 | One Comment | 4,633 views]

The Government has agreed that all UK firms must offer a pension scheme for all their employees or enrol them on the new National Employment Savings Trust (Nest).
To be eligible for the nest scheme employees will need to be earning at least £7,475 per annum.
The nest program should be staring in 2011 and all firms must join by 2016.
This will hopefully mean that between four and eight million workers will have a pension scheme for the first time.This scheme has come to fruition after an independent review into automatic pension enrolment for workers. These findings were welcomed by the Pensions Minister Steve Webb.
“The National Employment Savings Trust (Nest) will be the new low-cost pension scheme that will be the vehicle for saving for millions.” He Said.
For the first time ever employers must make pension contributions for all their employees from 2012.
There will be minimum levels of contributions for both employers …