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.
UK banks increase savings rates to fund mortgages
Over the last few weeks there has been a significant increase in savings rates across UK with banks and building societies all very keen to secure finance for the future. By increasing savings rates to around 5%, a full 4.5% higher than the UK base rate, they are then able to charge in excess of 5.5% for mortgage arrangements and take the difference as their profit.
It is no surpris...
Pension funds benefit from stock market run
Even though UK stock markets are still well below their recent highs there was some good news for the pension fund market with confirmation of a significant increase in combined pension asset values over the last few weeks. However, there are still billions upon billions of pounds required to bring the vast majority of pension schemes up to full funding with some suggesting a further 30% rise in t...Read More
When will the ever increasing number of repossessions start to fall?
Looking back at figures for the first three quarters of 2008 there has been a gradual increase in the number of house repossessions in the UK. The figure has now reached levels not seen since the tough recession in the 1990s and there are real concerns that this figure has not yet peaked and may well become the highest seen for decades in the UK.
The government has been attempting t...
TUC calls for more social housing
Young workers will not be able to live in their own homes unless the government authorises more social housing construction, the Trades Union Congress (TUC) believes.The government currently plans on earmarking spending for 30,000 social housing units for rent every year over the 2008-11 period as part of its efforts to balance out the supply side of the demand-heavy UK residential housing market....Read More
Don't fall into the trap of Christmas spending
Despite the fact that the last 18 months have been very difficult in the UK and around the world the vast majority of people seem to find huge sums of money for Christmas. Despite warnings that Christmas spending would reduce during the recession, if anything it has remained stable or on the upside. This is a very alarming trend in the UK and around the world because if income is tight and Christm...Read More