AXA rewards safe motorists
Financial giant AXA has revealed a new car insurance policy which will see those with eight or more years no claims bonus receiving a 90% discount on their premiums. This compares to the average discount of 65% on a maximum five-year no claims bonus and will obviously further benefit the vast majority of drivers in the UK who do not claim on their car insurance.
This comes at a time when the AA has confirmed that UK car insurance premiums will rise by between 10% and 15% in 2010 with the majority of the increase caused by uninsured drivers causing accidents on the road. It would appear that slowly but surely we are seeing a polarisation between safe drivers and dangerous (and uninsured drivers) with many other insurance companies certain to follow the lead set by AXA.
Car insurance premiums have been on an upward spiral for many years now with the cost of covering uninsured drivers taken on by the industry and then spread out amongst insured motorists. Whether or not this is a fair allocation of the added expense associated with uninsured drivers is debatable but it is a trend which began some time ago and has ultimately led to a massive increase in car insurance premiums for "no apparent reason".
Bank of China makes play for UK mortgage market
The Bank of China has this week made a play for the UK mortgage market by increasing its loan-to-value ratio from 75% to 80% on residential mortgages. The rate on buy to let mortgages has been increased from 65% to 75% and for commercial mortgages from 65% to 70%. While the Bank of China may not be the most recognised name in the UK mortgage market it does offer a number of mortgage instruments wi...Read More
Is the Euro set to become the most influential currency in the world?
As rumours circulate Wall Street that the Federal Reserve is set to slash interest rates by 0.5% the dollar has taken a serious hit against the Euro. In a world where currency fluctuations have never been more severe it is the Euro which appears to come out best against both sterling and the dollar. As rumours also circulate that the UK is set to join up to the Euro in the short term some people a...Read More
Even the Crown estate is suffering from the downturn
The value of the Crown Estate, which holds the sovereigns properties and investments, fell by £1.3 billion last year as the recession ripped into the UK property market. These are assets held by the state, although they do not include Royal palaces owned by the Queen, from which income is paid direct to the Treasury on an annual basis.
The entire estate was valued at £7.33 billion...
Is your credit card debt going down?
It seems that more and more people in the UK are happy to use their credit cards to fund everyday expenditure despite the fact that the economy is still on something of a knife edge. Whether a large number of UK consumers are "burying their heads in the sand" is open to debate but the truth is that the UK economic revival is anything but certain and many believe the UK is actually on the verge of...Read More
Marks and Spencer announce 34% fall in profits
When the likes of Marks & Spencer are suffering on the high street there really is no escaping the fact that the UK retail sector is in deep trouble. While the shares have risen on the back of the news this is more to do with how the stock market has picked up of late than the underlying performance of Marks & Spencer. While these figures do not come as a major shock it is always more alarming to...Read More