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Mortgage Lenders and First-time Buyers Stall While the Market WorsensThe mortgage market has hit something of a standstill and it is having knock on effects. Patrick Collinson and Rupert Jones said it best when writing for the Guardian: “Britain's mortgage market appears to be in meltdown, with first-time buyers going on strike and lenders joining them.” Moneysupermarket.com Expresses Concern as Mortgages SlumpConcerns about inactivity in the mortgage market have hit the balance sheets of Moneysupermaket.com. First time buyers are reluctant to spend their hard earned money and banks are reluctant to lend home loans to them, which is the reason the mortgage markets are being badly hurt this month. Mortgage rates are on the increase and more and more low deposit deals are being taken off the market. Life Insurance Firm Finds 46 Year Olds Most Materially WealthyA new report by the well-known Life Insurance firm More Than has revealed that 46 year olds are at the peak of their financial and material wealth. The report said that by the time people are aged 46 they have more valuable items in their homes than ever before. The Lifesworth report determines living standards by the value of the items in a person’s home and the report suggests that 46 year olds have more fun and are happier and more financially secure than any other age. Experts Advise Special Care When Choosing Secured LoansExperts are warning that thanks to rising interest rates, tighter controls on awarding credit, and a huge drop in the number of secured loans on the market it is now more important than ever that those looking for a loan find the right one for them and do not pay too much for it. 2 Times as Many People Take Out Costly LoansRecently published figures have revealed that there are two times as many people taking out expensive loans as there were 9 months ago. Moneysupermarket.com released the new statistics and has said that the number of loans made by people to tide them over until payday has increased radically. An additional 130% of people took out payday loans this May as compared to the numbers which were taken out in August 2007. Visa Card Issued With 365% Interest RateNews broke yesterday that a visa credit card with an exceptionally high lending rate has been made available to customers by a leading financial firm. The credit card is being offered to customers who have a poor credit rating and has a whopping 365% interest rate. Bank of England Set to Rescue Loan MarketsRadical new plans have been drawn up to aid banks and building societies which are suffering the most during the current credit crisis. Chancellor of the Exchequer, Alastair Darling has set in motion plans for The Bank of England to absorb billions of mortgage-backed assets, which the banks and building societies can then pay back over a 3 month period. The proposed action will be co-ordinated in conjunction with similar efforts which are being made by financial authorities in the US. Ultra Sound Technology to Prove Invisible Whiplash InjuriesIt has been four years since the University of Nottingham announced research which could potentially prove some types of whiplash injury were physical. Whiplash, also known as neck sprain, is a controversial injury which is often suffered by drivers or passengers in motor vehicle accidents and is generally a neck injury. Princess Diana Crash Draws Attention to Shoddy SafetyEngineering experts in Australia have said that if Princess Diana had suffered the fatal crash in their country, instead of in England, she would not have died. It was recently reported that the Princess may have suffered whiplash or concussion but would not have been killed if her car was on a road in Australia. These assertions are being made by a former mechanical engineer of a large insurance company called NRMA. New Support for Whiplash SufferersA new website developed by the University of Queensland in Australia has been created to offer whiplash patients around the world, help support and advice.
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