The Financial Conduct Authority (FCA) has proposed new rules to help homeowners stuck in high-interest loan deals; AKA ‘mortgage prisoners’. What are mortgage prisoners? Well, prior to the 2008 financial crisis, the affordability tests that lenders were running weren’t as strict. However, regulations are tighter now and therefore lenders are stricter. As a result, around…Continue reading
Tag: financial crisis 2008
UK Wage Growth is at its Fastest in Nearly a Decade
Latest official data brings us the positive news that wages rose by 3.1% in the three months to August, in comparison with a year ago. Andy Haldane, Bank of England Chief Economist, recently said that he could see signs of a “new dawn” for wage growth. In August, the Bank of England said that it…Continue reading