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01/12/2008
RBS Offers Struggling Mortgage Holders More Time Before Repossession
Royal Bank of Scotland Plc said it will give homeowners who miss mortgage repayments at least six months before starting repossession action - that’s double the three month period the bank used to give.
The policy will remain in place until at least the end of 2009 and applies to all customers including those already behind on repayments.
Last week the British government bought a 58% stake in RBS, which also owns NatWest, at a cost of £15bn plus £5bn worth of preference shares.
Stephen Hester, RBS’s new chief executive, told the Financial Times: "We need to cut costs, to reduce our own borrowing and, yes, that means reducing some of our lending too.
"But along the way, we need to recognise our customers’ needs and fulfil them where we can. Not because of any moral pressure – although we understand it – but because it makes commercial sense."
Speaking to the Observer newspaper, Chancellor Alistair Darling, said: "You know they [the banks] are getting something from the government. They have to realise that the taxpayer’s going to get something in return."
The news has been welcomed by Citizens Advice and the charity Crisis, who represent homeowners struggling with arrears.
(GK/KMcA)
The policy will remain in place until at least the end of 2009 and applies to all customers including those already behind on repayments.
Last week the British government bought a 58% stake in RBS, which also owns NatWest, at a cost of £15bn plus £5bn worth of preference shares.
Stephen Hester, RBS’s new chief executive, told the Financial Times: "We need to cut costs, to reduce our own borrowing and, yes, that means reducing some of our lending too.
"But along the way, we need to recognise our customers’ needs and fulfil them where we can. Not because of any moral pressure – although we understand it – but because it makes commercial sense."
Speaking to the Observer newspaper, Chancellor Alistair Darling, said: "You know they [the banks] are getting something from the government. They have to realise that the taxpayer’s going to get something in return."
The news has been welcomed by Citizens Advice and the charity Crisis, who represent homeowners struggling with arrears.
(GK/KMcA)
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26 January 2005
Department of Health encourages egg and sperm donation
A campaign by the Department of Health is urging British men and women to donate sperm and eggs to help couples with fertility problems have children. The 'Give Life, Give Hope' campaign will target men aged between 28-45 and women aged between 28-35.
Department of Health encourages egg and sperm donation
A campaign by the Department of Health is urging British men and women to donate sperm and eggs to help couples with fertility problems have children. The 'Give Life, Give Hope' campaign will target men aged between 28-45 and women aged between 28-35.
21 April 2009
Darling To Announce £1bn Housing Support Package
Chancellor Alistair Darling is expected to announce a £1bn package to support the housing market in tomorrow's Budget. Mr Darling will also extend the stamp duty holiday until the end of the year on properties under £175,000. The government is also expected to provide money for construction sites where work has stopped due to the recession.
Darling To Announce £1bn Housing Support Package
Chancellor Alistair Darling is expected to announce a £1bn package to support the housing market in tomorrow's Budget. Mr Darling will also extend the stamp duty holiday until the end of the year on properties under £175,000. The government is also expected to provide money for construction sites where work has stopped due to the recession.
27 April 2012
Government Departments Outsourcing Debt Collection
Government departments tasked debt collection agencies with recovering almost £60bn in unpaid consumer debt last year, according to figures release for the first time by the industry.
Government Departments Outsourcing Debt Collection
Government departments tasked debt collection agencies with recovering almost £60bn in unpaid consumer debt last year, according to figures release for the first time by the industry.
09 November 2006
Interest rate rises to 5%
Mortgage repayments and loans will rise for millions of homeowners on the Bank of England's decision to raise interest rates. As was widely expected, interest rates rose by 0.25% to 5%, the highest rate in five years. The hike in the interest rate is an attempt by the Bank's Monetary Policy Committee to curb rising inflation rates.
Interest rate rises to 5%
Mortgage repayments and loans will rise for millions of homeowners on the Bank of England's decision to raise interest rates. As was widely expected, interest rates rose by 0.25% to 5%, the highest rate in five years. The hike in the interest rate is an attempt by the Bank's Monetary Policy Committee to curb rising inflation rates.
21 February 2005
Tories promise to reduce council tax for pensioners
Conservative leader Michael Howard has pledged to reduce council tax payments for pensioners, if the party win at the next General Election. Mr Howard said that, under a Conservative government, households where all adults are aged 65 and over would have their council tax bills halved, up to a maximum value of £500.
Tories promise to reduce council tax for pensioners
Conservative leader Michael Howard has pledged to reduce council tax payments for pensioners, if the party win at the next General Election. Mr Howard said that, under a Conservative government, households where all adults are aged 65 and over would have their council tax bills halved, up to a maximum value of £500.
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