Archive for April 2011

Britons Will Be Spending Their Summer Holidays In Blighty

April 12, 2011

Over one quarter of middle-class British families will spend their annual holiday they would usually take abroad in the UK, due to financial pressures.

Research was carried out in a survey of 2000 people in order to find out about peoples’ holiday plans. 28.0% of those surveyed said that they would not be taking a holiday at all this year.

The way in which people holiday is changing: Whereas people used to take two weeks off for their holiday abroad, people now tend to take single days off and stay near home. This trend may be linked to people wanting to be a constant presence in the office.

One problem that many holidaymakers find a real headache is overspending. All inclusive holidays are becoming more popular to avoid this problem. From summer 2012, the travel agent First Choice will only offer all inclusive holidays.

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House Prices Have Fallen By 0.6%

April 6, 2011

The Halifax House Price Index has shown that the value of the average property has gone down by 0.6% over the last three months. In total house prices have fallen by almost 3.0% over the past year. Commentators have also made statements predicting that the market will fall even further this year.

A spokesman for the Halifax said that he expected house prices to fall by 2.0% within the year. He cited uncertainty about the future of the UK’s economy and strained individual finances as a major contributor to a depressed market.

Although new schemes to help first time buyers are being piloted by councils across the country, this is not expected to pull the market up.

A future interest rate rise at some point will also keep the housing market down. This pressure is married to problems with gaining a mortgage as a first time buyer.

Tesco Moves Into The Second Hand Car Business

April 4, 2011

Tesco has extended its empire into a new region – second hand car sales. The supermarket has already made ventures into the banking and insurance world. The second hand car business appears to be fertile ground for profit.

Tesco executives had observed that the common perception of second hand car salesmen is that they are untrustworthy. Tesco therefore would offer a service where they check the vehicle to make sure that it is in good condition and then sell them to consumers.

Tesco will be cutting out the middleman in sales transactions and they will even offer to deliver the car to any address.

The vehicles that Tesco will sell will be cars that have been decommissioned from rental firms and corporate fleet suppliers. Tesco will not buy cars from anyone nor will they be branching into the market for selling vehicle parts and spares.

Government Launches Task Force To Combat Loan Sharks

April 4, 2011

One of the effects of the economic crisis is that fewer people are being granted loans by banks. This has resulted in members of the public approaching loan sharks in order to gain much needed funds.

According to official statistics the number of people who owe money to loan sharks has doubled in the past four years.

The activities of loan sharks are illegal: Granting loans with extortionate interest rates and making use of violence to motivate repayment needs to be stopped.

A task force consisting of thirty trading standards officers who count ex-police officers among their number have been incorporated to combat the activities of loan sharks.

Critics have argued that creating one task force is not enough and that towns and cities across the UK need their own task forces.

Many people are suffering due to running up debts but this is one measure that may protect them.