Reccesion is slowing says CBI PDF Print E-mail
Blog and News - Economy
Written by John Angeletta   
Wednesday, 22 April 2009 00:38
Thank you CBI for sharing our view the recession will be slowing in the second half of '09. 

Richard Lambert, director-general of the CBI says, "The UK economy remains deeply troubled, and the first quarter of this year has been tougher than expected.  Firms have been running down their stocks of completed goods, and that is having a real impact on output, jobs and investment.  Anxious consumers are spending less ... but there are a few tentative signs that the steepest phase of recession is behind us...". Good news Richard. 

The Government Homeowner Mortgage Support scheme rolls out this week.

In A Nutshell ~ if you bought before December 1st 2008 and for less than £400,000, you can apply to defer up to 70% of your interest payments for up to 2-years.

Major high street lenders offering their customers the scheme include Lloyds Banking Group, Northern Rock, Royal Bank of Scotland and Bradford & Bingley.

Other lenders participating in the scheme include the National Australia Bank Group, parent of Clydesdale and Yorkshire Bank, and Cumberland Building Society.

Four other high street lenders - Barclays, HSBC, Nationwide, and Santander - have confirmed they will offer borrowers similar alternatives to the HMS.

First, contact your own mortgage provider to see if they are/will be part of the scheme.  If not, ask them who will help you.  Or, call us.

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