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House prices tumble 1980s-style - Belfast Telegraph
House prices are plunging at their fastest pace since the last recession as banks ration credit and nervous buyers stay away, Halifax reports. Britain's biggest mortgage lender revealed a 2.6 per cent fall in prices for November, the biggest drop ...

Savings offers to disappear as banks impose rate cuts - Financial Times
Savings rates above 6 per cent are set to disappear as banks reduce offers in line with interest rate cuts. Ten banks and building societies – including Nationwide, Alliance & Leicester , Royal Bank of Scotland and NatWest – yesterday reduced ...

Struggling families given six-month reprieve as RBS delays ... - Times Online
Borrowers who fail to maintain mortgage repayments will be given a six-month breathing space under a plan due to be announced today by the Royal Bank of Scotland. The bank, which owns NatWest, is expected to promise not to repossess homes for six ...

Reprieve for families as RBS delays repossessions - Times Online
Borrowers who fail to maintain mortgage repayments will be given a six-month breathing space under a plan due to be announced today by the Royal Bank of Scotland. The bank, which owns NatWest, is expected to promise not to repossess homes for six ...

Calls grow for steep rate cut as services deteriorate - Times Online
Calls for another aggressive cut in interest rates by the Bank of England intensified today after a key survey revealed that the UK services sector shrank in November at its fastest pace since the series began in 1996. The Chartered Institute of ...

Leading firms announce more than 2,000 job cuts - Guardian Unlimited
Shares in London suffered another torrid day as leading companies announced more than 2,000 job cuts and figures showed that the country's manufacturing output and orders had fallen to a record low. The FTSE 100 shed 5.2% of its value to close down ...

Abbey wipes out base rate cut by raising mortgage rates - Times Online
Abbey is raising interest rates on its popular "tracker" mortgage deals by 0.5 percentage points, erasing the benefit of yesterday's emergency cut in the cost of borrowing by the Bank of England. Britain's second biggest mortgage lender blamed the ...

Recession watch - Guardian Unlimited
One of the leading names in Britain's pottery industry, Royal Worcester & Spode, has gone into administration. PricewaterhouseCoopers said it was seeking a buyer for the company which employs 388 people in the UK. Joint administrator and PwC partner ...

Britain's city centres left reeling by house price crash - Daily Telegraph
Britain's city centres left reeling by house price crash The 1.5 percentage point cut in interest rates by the Bank of England last week came just hours after the latest house price index by the Halifax showed values had fallen by a record 15pc in ...

Interest rate cut: Heroes and Villains - Times Online
HBOS bowed to immense pressure and passed on the 1.5 per cent cut to its SVR across all four of its mortgage brands — Halifax, Bank of Scotland, Birmingham Midshires and Intelligent Finance. It was also one of the first to pass on last month's half ...