UK motor insurance premiums increase yet again
The AA insurance has today commented upon the state of the UK motor insurance market with a suggestion that the average comprehensive motor insurance policy is now costing in excess of £1000 a year. This is an increase of around 20% on the 2008 figure and is predominantly because of fraudulent claims and the damage caused by uninsured drivers in the UK.
All in all it is believed that UK motorists will face an additional £2.1 billion in insurance costs this year alone purely and simply because of these fraudulent claims and uninsured drivers. Despite the fact that the recession is still impacting upon many people around the UK, and indeed some people are considering downgrading or even cancelling their car insurance, the cost of insuring your vehicle continues to climb higher and higher.
In what is certain to become something of a vicious circle, a 20% increase in motor insurance premiums will almost certainly see more people taking the risk of driving uninsured which will yet again feed into the cost of insurance premiums in the future. Quite why perfectly legal and insured drivers have to pick up the bill for those who have decided not to take out insurance, which is illegal, continues to remain a mystery to many in the UK.
Texas Pacific Group Eyeing Up More UK Acquisitions
While the ink may not yet have dried on their deal to buy a 23% stake in Bradford and Bingley, there are rumours that Texas Pacific Group is looking at a whole host of other UK banks with a view to taking more stakes in the sector. There have also been a number of other prominent investors mentioned, such as Blackstone, KKR and JC Flowers, as private equity firms look to take advantage of the rec...Read More
Markets await report on Lloyds bank rights issue
The £13.5 billion rights issue from Lloyds bank closed on Friday and we should hear very soon whether it has been a success. As we mentioned in one of our earlier articles, there is speculation that over 90% of shares on offer have been taken up with the balance set to be distributed amongst the underwriters. So what does this mean for Lloyds bank? The £13.5 billion rights issue is just one s...Read More
Christmas No’s – How not to pay for Christmas
How do you pay for Christmas?
Ideally the best way to pay for Christmas is to save up over the course of a year. We do this to pay for our summer holidays and other annual treats, but for some reason every year more and more people are paying for Christmas with credit. Is this you? If it is then it’s vital you shop around and do thorough research before makin...Read More
Mortgage activity starting to cool
03/06/2014 Nationwide Building Society has claimed that the housing market may be starting to cool, despite house prices rising by 11.1% over the last 12 months, the fastest increase in seven years. Whilst house prices have risen considerably over the last year, this looks to have slowed down in recent months as prices increased by just 0.7% in May compared with 1.2% in April 2014. Just l...Read More
JJB set to secure deal from landlords
JJB Sports has today revealed details of a vital rental agreement between the company and landlords who own their shopping premises. The deal will effectively see JJB Sports rip-up the current rental arrangements and revert to a pay monthly basis which should help the company keep tighter control of costs. The company has also revealed a £25 million short-term loan from Barclays Bank and a £25 m...Read More