British Housing Market Faces Slowdown
Further signs that the housing market may be about to enter a “double dip” downturn emerged yesterday when the Nationwide said property prices rose by just 0.1 per cent in June. The trend in house price inflation is clearly down: prices rose by 1.1 per cent in April and by 0.5 per cent in May.
UK Mortgage Crisis
Auction house ….?
In the news in the UK this week, reported that (with the credit crisis, the lack of mortgage funds, expensive loans and home sales taking ages to complete) "being introduced gazundering What do you mean by this term and does anyone has experienced or heard of this happening?
Trying to sell my house since January this year and if there is a lack of buyers. It is not the usual crowd that can done in a field Saturday afternoon to see everything and have no hope of getting a mortgage. Property speculators who think that all sellers are desperate to sell and offer ridiculous (I'm more deperate house buyer not at all) and have money to burn. A house that interested me was to the Offer, the exchange was due to Mrs. and the buyer told him they wanted £ 20000.00 suddenly dropped the asking price, if she took it off the market. (You can still aspire to yet) If the seller is desperate for his very obvious to go through hoops to sell, but if you're not, you can allow to hang. In law, an officer must submit an offer, but I know an agent it must have revealed my Finacea a speculator, and has made a stupid face amount less the same number he had discussed with the agent. Desperate sellers will be, but usually does not offer to accept that not everyone is stupid affected by the credit crunch.
David Hollingworth interviews Adrian Whittaker of Santander
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Delegated Powers Scrutiny: Report by the Subordinate Legislation Committee: Mortgage Rights (Scotland) Bill – As Amended at Stage 2 (Scottish Parliament Papers) … |
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Mortgage Rights (Scotland) Bill: As Amended at Stage 2 (Scottish Parliament Bills) … |
Any form of insurance can be seen as a risk.
You pay a monthly or annual premium to an insurance company for a set amount of cover, effectively passing the risk to the insurance company. As long as you pay the premiums you’ll continue to be covered, for whatever purpose.
When it comes to protecting YOURSELF in the form of life assurance, critical illness cover, permanent health insurance or private health insurance you really do need to take the time to do your research (or pay someone to do it for you) as this form of cover is not the type that you’ll normally be shopping around for on an annual basis.
For example, once you’ve applied for and been accepted for income protection cover it’s unlikely that you’ll change the plan or company that you’re insured with in the future as the cover is based on your age and health at the time you apply.
One of the factors that you may not have included in your research is the actual claims history of the insurance company that you choose. After all, if you put in a claim you’ll want to know what your chances of a payout are going to be.
During the last 2-3 years more insurance companies have been publishing their claims statistics. This is crucial information as it gives you the opportunity to understand which conditions are being claimed for the most (so you can ensure that your plan covers these conditions and the wording of these conditions is competitive when compared to all other providers).
Fortunately, the Association of British Insurers (ABI) publishes a set of definitions for 20 conditions (see below) and registered insurers who cover any of these conditions must comply with, or surpass, the ABI definition.
The 20 conditions:
-Cancer
-Heart attack
-Major organ transplant
-Stroke
-Coronary artery by-pass
-Kidney failure
-Multiple sclerosis
-Aorta graft surgery
-Blindness
-Deafness
-Loss of limbs
-Benign brain tumour
-Coma
-Heart valve replacement or repair
-Loss of speech
-Motor neurone disease
-Paralysis/paraplegia
-Parkinson’s disease
-Terminal illness
-Third degree burns
Many companies also cover additional conditions, including bacterial meningitis and pre-senile dementia.
Skandia, one of the leading providers in the critical illness market, have recently released their claims statistics (covers claims up to 1 February 2007).
They have:
-Paid 1920 claims totalling over £182m
-The average age of claimants is 46
-On average a policy is in force for 4.7 years prior to a claim
The most common claims are for:
-Cancer, 59%
-Heart attack, 15%
-Heart surgery, 8%
-Stroke, 7%
The most common forms of cancer claimed for are:
-Breast cancer, £23m
-Lower intestine, £11m
-Malignant melanoma, £9m
-Prostate, £7m
They have paid 88% of claims, with the remainder being declined for the claim either not meeting the definition (10%) or where the applicant did not disclose all the information required at the time of application (2%).
The Financial Tips Bottom Line
If you currently have ANY form of personal protection policy, it makes sense to review your plan(s) to ensure the cover you have is competitive and suitable for your circumstances. If you don’t yet have cover make sure you do thorough research before you buy a policy.
Ray Prince is an Independent Financial Planner with Rutherford Wilkinson plc, and helps UK Resident Doctors and Dentists get the best deals on mortgages, protection and investments, as well as helping them achieve their financial objectives. Just visit http://www.medicaldentalfs.com to get your free retirement planning guide.
Rutherford Wilkinson plc is authorised and regulated by the Financial Services Authority.
Family lottery prizes in the UK of a British family has pocketed £ 26.1 million dollars (46.2 million U.S. dollars) in the Euromillions draw.
2 Year Tracker Mortgage UK Video looking for a tracker mortgage
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The Mortgage … |
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Financial Alchemy in Crisis (Paperback) $26.28 In July 2007, the combination of a seemingly unstoppable rise in house prices and bullish banks swimming in liquidity meant that almost anyone could get a mortgage in the UK or US. Little more than a month later the supply of credit drie… |
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Heads I Win, Tails You Lose (Paperback) $13.43 In 2008 Britain faces a huge credit crunch leaving millions of people struggling with financial worries, unable to get a mortgage or punished by increased taxes. This book examines international financial history and literature to uncover 12 common the… |