Shaking the UK Piggy Bank For the people who are waiting for the economy to be great again before they borrow from their bank, they may want to hear this news. According to Financial Services Authority chairman Lord Turner, there will be a lot of changes in the United Kingdom banking system. After loose lending led to the current recession they are experiencing, they have decided to curb some of the lending even during the times when the economy is good. The problem ... Read More

The City watchdog reported lately that during the third quarter  of last year, the number of Britons who lost their homes almost doubled.     The Financial Services Authority revealed that the  said repossessions were 92 percent more than during the third quarter of 2007. From July to the end of September 2008, the number of properties repossessed reached a total of 13, 161.   A noticeable increase in the number of people who could not update their mortgage repayments was also seen. Behind with ... Read More