PPI Payment Protection Insurance Mis-selling MPPI

It is reported that claims for repayment of Payment Protection Insurance are increasing, even toward the same levels seen in Bank Charge Reclaims

As mortgage brokers MyCbi knows all about the poor and bad practice of some of these sales so, if anyone wishes to learn how to phrase and present thier claim in order to be successful, do please e-mail us - info@ will be fine, MyCbi but remember it is .co.uk

Interest rate cut?

Baqnk of England official Deputy Govenor Rachel Lomax feared the current financial crisis could trigger a fall in property prices and she said that she would be willing to vote a reduction to combat the 'credit crunch'

Buy to Let Burst Bubble Britains Sub Prime

As we said yesterday, our surprise is A) how these things are kept underwraps for so long and or B) how these so called media tuned and or experts fail to see the obvious whan it occurs months and months, and even more months ago

Next March, regardless of bank rate, will be the time to buy some cheap 2 bed roomed apartments to let to Eastern European Workers (EEW) &/or DSS Claimants - there'll be even more of them available, repossessions and BMV's, lot's of 'em!

So, is BTL the UK Sub Prime fiasco? Yes of course it is, well it is part of it but not all of it, we have our own sub-prime issues and whilst they have already surfaced, the very tip of the iceberg is all that has shown itself, just you wait!

As per yesterday, go to www.housepricecrash.co.uk or viewings on UTube for how some Americans were 'conned' they say, well they would say that, once things go wrong, wouldn't they, but yes some might have been mis-lead, as too some people over hear.

Darling Alistair & The Northern Rot Auction

Poor Darling, our Alistair, poor Darling! Whatever he does, at Gordon's bidding, is bound to back fire on him - perhaps rightly so, he wanted the job, wanted the salary, wanted to be political so he'll have to take the consequences.

The economy is shot to pieces, Tony Blair knew that, as did Gordon Brown who perhaps saw this as his last chance to be a Prime Minister, lets face it, if he were a true leader of conviction he would have fought Tony for the position right at the begining and any excuse of 'best for the party' is, or would be if levied, a lame excuse we all see through.

Gordon thought he might get a second term but then, just before his Chancellorship reign blew up in his face, David Cameron announces opinion grabbing support measures - tough luck Gordon, but now we bet you glad he did somewhat upstage you, eh?

So, Northern Rock will end up 'auctioned' for want of a better term and no doubt we, the tax payer, will be the one to lose out, not Applegarth or Darling Gordon salaries, no they'll all still receive them and Gordon Darling won't care a hoot as they fade in to opposition, still on fat cat salaries.

World economists pessimism OECD Greenspan and Gieve

Sir John Gieve (a deputy govenenor of the Bank of England so no mug!) and former Federal Reserve Chief Alan Greenspand along with OECD reckon the current 'credit crunch' could well bite harder, and spread deeper and wider and maybe go on longer than appears to have been realised

Bad times around the corner despite Bank Base Rate Reduction

The signs are out for business failures as the economy slows down even though some commentators predict a reduction of Bank of England Base Rate in December - some say it could be as much as up to .75% - wow, big drop but we do not expect it to be passed on to mortgage rates, commercial or domestic.

Forecasters say growth could fall as low as .3 per cent by the last 2 quarters of 2008 - The bank itself expects a 'sharp slowdown'

Beware, back in 1991 post Thatcherite days gross domestic product actually fell to minus, yes minus, -1.4% and Company liquidations hit 24,500 in 1992, which was twice the amount of boomsville arizona year 1988, so be warned, beware, is the proverbial is about to his the fan

BTL Paragon Property Market Bubble Alliance & Leicester Bradford & Bingley

Buy to Let investors face 6% plus loan rates whilst only seeing 3.7% yields - well yes, but they did know that rates could go up, as well as down, didn't they? Or did they think rates remained level or went down and yields only ever increased?

Paragon, having done the decent thing and come out honest and open do however claim, "landlords would delay new purchases rather than rush to sell property" Mr Nigel Terrington head of Paragon is quoted as saying - well he would say that, wouldn't he?

More likely that BTL investors can't sell but do or would want to, just can't because so many bought through property clubs or investment 'courses' that said they would learn how to make a fortune!

Visit http://www.youtube.com/watch?v=54X4wXQD9AQ&feature=related and you'll see just the sort of thing that happened in USA as is still even now happening here in UK - and still the poor lambs turn up for slaughter! Property scams.

Bradford and Bingley have sold some assets or debts to raise or protect or preserve cash and liquidity though Allaince & Leicester appear to 'carry on regardless' even though shares in both have reportedly fallen by 40% in the past year even though they typically raise less than 50% of thier funding from the markets

One analyst yesterday stated the obvious, "There is a massive bubble in the UK property market which looks as if it is about to pop" - Blimey, we and http://www.housepricecrash.co.uk/ have been saying this for months, and months and probably more months than that!

Darling Alistair might soon be disappointed at Rocks crumble

Banks are rumoured to be 'saving up for Christmas' and so starving Alistairs markets since Investment Banks are having year end in November and lots of clearers and others at the end of December - Libor hit 6.45% yesterday

Swiss Re said is was safe and now announces £524 loss on sub-prime - come on boys, get real, spill the beans and let us all take the medicne

The house price crash of 89 went down only 13% from peak to trough but folks think it was much more - the real issue was the length of time of the recession, it went on and on through to mid 83 early 94 and maybe beyond - so, bankers, learn some lessons and implement them, tell it how it is and lets have on almight hit of pain and then recovery can begin.

Spendometer Budget & Personal Spending Consumer Credit Counselling Service Credit Action Moneybasics

Creditaction, it appears, has launched, or is involved with Moneybasics in the launch and 'publicity' of Spendometer, a new tool that alerts to mobile phone if you spend over budget. Quite what the relationship structure is we do not yet know

Call us sceptics by all means but budgeting ones money on pay day then entering separate allocated amounts to ones mobile and then, yes there is more, every time you spend a penny in put that to your mobile just to receive a Spend Alert.......will only be carried out by those people who already budget

Also we are sceptical of the purposes - attraction tool to other services springs to mind

Supported by, amongst others, GE Money raises suspicion though we do not wish to nor intend to slander or libel but....................... it is GE Money that runs the majority of Store Cards ...... you know, Dorothy Perkins, Debenhams and House of Fraser or is it Rackhams types of cards that so very many families and mum's depend on for teen clothes or school uniforms

Seems okay so far but................... even back in 1998/99/2000 as bank rates began to fall here and there from 7.5% GE Capital did not (certainly not noticeably) reduce the rates charged on these cards ....... and it seemed, though this is not yet a sound allegation, that rates were not reduced, or by not very much, even when bank rates fell from said 7.5% of Jan 98 to 3.5% of July 2003 or so it seemed at the time, and seems the same right now - maybe GE Capital will protest and provide the figures to argue against us

So why is this relevant?

What, a purported advice line, budget 'we care about you' service being supported by this 'lender' in particular rings alarm bells about motive if nothing else, why there is even a link to GE Money on the moneybasics.co.uk web site!

CCCS Consumer Credit Counselling Service - are they aware of or interested in the nature of any association?

Credit Action, does the GE Money association not bother them at all? Are all of these supporters related?

What about Advice UK or Gingerbread, does this either not matter to them or are they simply naive as to the methods of GE Money - it was after all GE Capital or similar faction that bought FNB the home improvement finance tool for double glazing and other firms and then they bought up I-Group the 'we lend to anyone' firm

Consumer Protection Financial Services Authority FSA - APS Groups of Companies Estate Agency and or Mortgages

We at MyCbi always read Tony Hetherington Mail on Sunday Consumer journalist of The Year and constantly we are surprised how the firms he reports on 'get away with it' at all, or for so long.

Is the FSA really so toothless as to allow such ducking and diving as is alleged to continue so long, at all even?

We genuine registered and regulated adviser's, especially Ce Map qualified Mortgage Advisors just wouldn't dream of doing the things Mr Hetherington reports - or are we being naive?
Ian Wilkie, Emma Wilkie are named as is Mark Wilkie who was FSA registered though a search says he is 'inactive' but under the disciplinary tabs there are no reported items - blimey!

Anyway, lets not slander or libel, it is, as far as we are concerned all speculation and allegation

Bank Charge Reclaims PPI Payment Protection Mis-selling

Bank charge reclaims are, as we reported on Friday, back on the agenda - now Finance Mail in Mail on Sunday reports Lloyd's TSB ignore directives from regulators by increasing some charges and are accused, along with others of 'stealth' and 'trickery' by the Office of Fair Trading

Jeff Prestridge reckons charges could rise by "Bank charges to soar 60%" - Wow that is like the 22p lager reporter claiming to be canned up on 3 cans, blimey, cheap lager is about as strong as 'Shandy Bass' - the thinks they make up for a story eh?

Watch out for Payment Protection Insurance claims - mis-sold? Most people have been because if it had been explained to you, as it always should have been, most people would not have bought it