Tree subsidence danger highlighted
Homeowners are being warned about the potential subsidence dangers caused by planting trees too close to their homes.According to Halifax Home Insurance, planting trees too close to homes accounts for the majority of subsidence claims dealt with by insurers.In extreme cases, subsidence can cause major structural damage to homes, however paying special attention to the trees and vegetation around a property can go a long way towards reducing the risk of a subsidence problem."When people plant trees they plant them as young saplings in the garden and obviously they are going to prove no problem whatsoever till after a good number of years," Neil Curling, spokesperson for Halifax Home Insurance said."Regardless of whether the present incumbents stay in the house long enough they have set in motion a chain of events which can lead to subsidence."People do plant trees too close to houses and they bring about the majority of subsidence insurance claims that we face," he added.Most people are insured for subsidence in their home insurance policy, even if they planted the offending tree themselves.
Sub-prime mortgages withdrawn in credit crunch
Potential homebuyers are set to find it ever harder to enter the housing market as a result of providers withdrawing sub-prime products from their portfolios, it has been predicted. Research conducted by price comparison site Moneyfacts.co.uk has found that the number of lenders offering sub-prime products has dropped from 32 to 20 in the last 12 months. Meanwhile, the number of mortgages availabl...Read More
Property slowdown 'could hit first time buyers'
Contrary to some hopes that a slowdown in the property market could result in more people being able to get onto the bottom rung of the ladder, it has been claimed that the current circumstances could be bad news for first time buyers.Lucian Cook, director of research at Savills, warned that first time buyers are unlikely to benefit immediately from a slowdown in property prices and the global cre...Read More
Millions risk insurance by using their car for work
As many as five million workers are risking invalidating their insurance by using their own cars for company business.According to insurance comparison site, Go Compare, these people are not properly insured, because most private car policies do not cover business when the driver is travelling anywhere other than their usual place of work, and each month, these workers are covering an average 188...Read More
Could UK mortgage rates really hit 14% within two years?
As a consequence of a Think Tank forecast that UK base rates could rise to 8% over next two years, after the UK finally exits a potential double dip recession, there is the possibility that UK mortgage rates could rise to between 12% and 14%. This would be a crippling rise for the UK property market and could potentially push the UK back into a downward economic spiral. There is no doubt that even...Read More
Brits will be forced to retire later
Research has shown that the vast majority of independent financial advisors (IFAs) believe that increasing numbers of people will be so strapped for cash that they will have to retire later in life even if they do not want to keep working.According to Aegon's latest survey, 88 per cent of IFAs believe the average retirement age will rise significantly in the next ten years, with more people unable...Read More