Articles by Sarah Othman on ArticleSnatch.com

Mortgage Lenders and First-Time Buyers Stall While the Market Worsens

Fri, 04 Jul 2008 00:00:00 -0400

The mortgage market has hit something of a standstill and it is having knock on effects. Patrick Collinson and Rupert Jones said it best when writing for the Guardian: “Britain's mortgage market appears to be in meltdown, with first-time buyers going on strike and lenders joining them.” Where many first time buyers are holding onto their deposits and waiting, many banks are taking the same tack. A First Direct mortgage which was on the market a week ago for 5.49% rose to 6.15% in just one week. Banks are desperate to make money and fearful of lending it to irresponsible spenders. Resultantly, mortgages are being denied to those with the slightest blemish on their credit records. Predictions are that house prices this year might fall by record numbers and many houses are already £25,000 cheaper this month than they were last month. This isn’t encouraging first time buyers to take the plunge though. Many first time buyers are scared of buying a home now in case it is worth even less in a year’s time. **End Summary** Topics: Mortgage]]> Lenders]]> Banks]]>]]> About the Author: ]]> Sarah is an author of several articles pertaining to Mortgages . She is known for her expertise on the subject and on other Business and Finance related articles.

Moneysupermarket.com Expresses Concern As Mortgages Slump

Fri, 04 Jul 2008 00:00:00 -0400

Concerns about inactivity in the mortgage market have hit the balance sheets of Moneysupermaket.com. First time buyers are reluctant to spend their hard earned money and banks are reluctant to lend home loans to them, which is the reason the mortgage markets are being badly hurt this month. Mortgage rates are on the increase and more and more low deposit deals are being taken off the market. The knock on effect has thrown Moneysupermarket’s mortgage performance into question and investors have been asking if everything is alright with the young online price comparison empire. The answer seems to be yes, but we’re still a little wobbly. According to the Times Online, the website: “had changed its performance expectations this year despite admitting to “extremely challenging” conditions in its mortgage business,” and in many areas the website was performing very well with growth in credit cards and savings amongst other smaller divisions. It was suggested that this growth would make up for the losses incurred by the mortgage sector of the company. The chief executive of Moneysupermaket. **End Summary** Topics: Mortgages]]> Money]]> Banks]]> Credit Cards]]>]]> About the Author: ]]> Sarah is an author of several articles pertaining to Mortgages . She is known for her expertise on the subject and on other Business and Finance related articles.

Life Insurance Firm Finds 46 year olds Most Materially Wealthy

Fri, 04 Jul 2008 00:00:00 -0400

A new report by the well-known Life Insurance firm More Than has revealed that 46 year olds are at the peak of their financial and material wealth. The report said that by the time people are aged 46 they have more valuable items in their homes than ever before. The Lifesworth report determines living standards by the value of the items in a person’s home and the report suggests that 46 year olds have more fun and are happier and more financially secure than any other age. Dowshan Humzah works for More Than insurance as a product director, he told the press: “It is interesting that the magic Lifesworth age falls within the fifth decade – it adds weight to the old adage that 'life begins at 40'. What is concerning however is how little thought people seem to be giving to the total value of their possessions." While 46 year olds had the most valuable possessions in the study the next most materially wealthy age was 28, those who were aged 28 had on average £33,166 worth of belongings. **End Summary** Topics: Life Insurance]]> Insurance]]>]]> About the Author: ]]> Sarah is an author of several articles pertaining to Life Insurance . She is known for her expertise on the subject and on other Business and Finance related articles.

Experts Advise Special Care When Choosing Secured Loans

Fri, 04 Jul 2008 00:00:00 -0400

Experts are warning that thanks to rising interest rates, tighter controls on awarding credit, and a huge drop in the number of secured loans on the market it is now more important than ever that those looking for a loan find the right one for them and do not pay too much for it. Predictions have recently been confirmed that there will be 18000 more residential property repossessions this year than last and the reasons for this will largely be people defaulting on mortgage repayments and failing to keep up payments on secured loans. There are a great many price comparison sites online now that promise to do most of the work in selecting the best loan for you. However, when comparing secured loans, credit cards, personal loans and other financial products experts warn that you shouldn’t assume the websites know best all the time. Checking the fine print is still important on any product. Many people skip over the finer details of the loan because they assume that the website will have selected the best deal for them, but moneysaving website Thrifty Scot recently said: “Check the terms and conditions. **End Summary** Topics: Secured Loans]]> Loan]]> Interest Rates]]>]]> About the Author: ]]> Sarah is an author of several articles pertaining to Secured Loans . She is known for her expertise on the subject and on other Business and Finance related articles.

2 Times as Many People Take Out Costly Loans

Fri, 04 Jul 2008 00:00:00 -0400

Recently published figures have revealed that there are two times as many people taking out expensive loans as there were 9 months ago. Moneysupermarket.com released the new statistics and has said that the number of loans made by people to tide them over until payday has increased radically. An additional 130% of people took out payday loans this May as compared to the numbers which were taken out in August 2007. It has been suggested that issues regarding the rising cost of food and fuel are responsible for the surge in loan applications, including payday loans which charge over 1,000% interest. The loan market is just one of the financial sectors which are being affected by the credit crunch and mortgage slumps. The doubling of the number of people taking out high interest loans also confirms fears that personal debt and irresponsible spending in the UK will get worse before it gets better. Speaking about the new findings, Tim Moss, the head of the loans department at Moneysupermarket.com said: "The rise in payday loans is astronomical.” He added that it: “shows just how difficult people are finding it to cope day to day. **End Summary** Topics: Loans]]> Cost]]> Mortgage]]> Debt]]>]]> About the Author: ]]> Sarah is an author of several articles pertaining to Personal Loans . She is known for her expertise on the subject and on other Business and Finance related articles.

Visa Card Issued With 365% Interest Rate

Sat, 21 Jun 2008 00:00:00 -0400

News broke yesterday that a visa credit card with an exceptionally high lending rate has been made available to customers by a leading financial firm. The credit card is being offered to customers who have a poor credit rating and has a whopping 365% interest rate. This is 10 times the highest interest rate for a credit card available from a high street bank. The company offering the deal is Provident Financial, a company based in Bradford. Consumers are told to pay their bill in weekly instalments which the firm’s agents collect from them at their door. The card is pre-loaded with a loan amount and the financial firm then charges its customers an APR of 183% if they use the card, during a period of 56 weeks. An article in the Times Online revealed that “If the loan [on the card] is £300 over [the] period, the customer is expected to pay back £504. However, if he or she borrows the same amount over 31 weeks, the APR can be as high as 365% and a customer can expect to repay £465. **End Summary** Topics: Credit]]> Credit Card]]> Visa Card]]> Interest Rate]]>]]> About the Author: ]]> Sarah is an author of several articles pertaining to Credit Cards . She is known for her expertise on the subject and on other Business and Finance related articles.

Bank Of England Set To Rescue Loan Markets

Sat, 21 Jun 2008 00:00:00 -0400

Radical new plans have been drawn up to aid banks and building societies which are suffering the most during the current credit crisis. Chancellor of the Exchequer, Alastair Darling has set in motion plans for The Bank of England to absorb billions of mortgage-backed assets, which the banks and building societies can then pay back over a 3 month period. The proposed action will be co-ordinated in conjunction with similar efforts which are being made by financial authorities in the US. Less risky mortgage-backed securities have already been absorbed by The Bank of England in attempts to control the crunch that is being felt by British banks. However, these new plans are far more drastic and serve to underline the seriousness of the damage the rest of the economy could now face. In two months it will be a year since the credit crunch began, but still the banks are reluctant to lend to each other and consumers are feeling the strain. **End Summary** Topics: Loan]]> Banks]]>]]> About the Author: ]]> Sarah is an author of several articles pertaining to Secured Loans . She is known for her expertise on the subject and on other Business and Finance related articles.

Ultra Sound Technology To Prove Invisible Whiplash Injuries

Wed, 14 May 2008 00:00:00 -0400

It has been four years since the University of Nottingham announced research which could potentially prove some types of whiplash injury were physical. Whiplash, also known as neck sprain, is a controversial injury which is often suffered by drivers or passengers in motor vehicle accidents and is generally a neck injury. The injury is considered to be minor and a passing problem which is best treated with bed rest, painkillers and relaxation but since the year it was first written about in an American medical journal, the real biological facts about the issue have evaded medical understanding. Scientists at the University of Nottingham decided to tackle the enigmatic injury. At the moment patients who suffer from whiplash are seen by a doctor and then they have spinal ex-rays to assure that the condition is not more serious. However, these techniques only highlight bone damage and cannot show the doctor painful muscle or tendon damage. **End Summary** Topics: Whiplash Injuries]]> Whiplash]]> Accident]]>]]> About the Author: ]]> Sarah Othman is an author of several articles pertaining to Whiplash Injuries . She is known for her expertise on the subject and on other Business and Finance related topics.

Princess Diana Crash Draws Attention To Shoddy Safety

Wed, 14 May 2008 00:00:00 -0400

Engineering experts in Australia have said that if Princess Diana had suffered the fatal crash in their country, instead of in England, she would not have died. It was recently reported that the Princess may have suffered whiplash or concussion but would not have been killed if her car was on a road in Australia. These assertions are being made by a former mechanical engineer of a large insurance company called NRMA. In an article on the website of ‘The Daily’, ex-engineer Charles Priest said he was shocked that: “Despite numerous investigations since her death in 1997, no one had suggested the absence of barriers in the Paris tunnel was a contributing factor.” The verdict found by a Jury in London this month has been that the princess and Dodi Al-Fayed were unlawfully killed. Grossly negligent driving by the Princess’s chauffeur and paparazzi photographers who were in reckless pursuit of the couple’s car have been blamed for the crash. Drink driving and failure to use seatbelts were also causes cited by the jury. Charles Priest told the Australian press that the poor engineering standards in the tunnel were a huge issue which had been overlooked. **End Summary** Topics: Whiplash]]> Accident]]> Insurance]]>]]> About the Author: ]]> Sarah Othman is an author of several articles pertaining to No Win No Fee, Compensation Claims, Personal Injury Claims , and other legal articles.

New Support For Whiplash Sufferers

Wed, 14 May 2008 00:00:00 -0400

A new website developed by the University of Queensland in Australia has been created to offer whiplash patients around the world, help support and advice. The University of Queensland's Centre of National Research on Disability and Rehabilitation Medicine (CONROD) and NMHRC Centre of Clinical Research Excellence in Spinal Pain, Injury and Health (CCRE Spine) have teamed up to create the website with the aim of “providing evidence based information to consumers and practitioners about whiplash and its management.” The University of Queensland’s website says: “The team's Chief Investigator, Dr Michele Sterling, is excited about the unique opportunities available.” Dr Sterling is enthusiastic about the new website and has said: “This is the first consumer based information site for people with whiplash.” She added: “That's important because a significant proportion of injured people go onto to have persisting pain and disability and while there are a plethora of treatments available, we have synthesized the evidence in a consumer friendly way.” Whiplash is something of an enigma and although common, the causes and science behind it are still poorly understood. **End Summary** Topics: Whiplash]]> Information]]> Injury]]>]]> About the Author: ]]> Sarah Othman is an author of several articles pertaining to No Win No Fee, Compensation Claims, Personal Injury Claims , and other legal articles.

Chancellor Of The Exchequer Makes New Pledges on Mortgages

Wed, 14 May 2008 00:00:00 -0400

This month the Chancellor of the Exchequer, Alastair Darling has said he aims to get the damaged money markets back into shape with the help of financial experts in Washington. He has made announcements that he intends to do everything within his power to put an end to the increasingly critical mortgage situation which is affecting homeowners in Britain. Financial theorists have said that the slowdown in the British housing market was predicted and inevitable. Darling recently told reporters: “I want to do everything I possibly can to help the mortgage markets because it is not just important for first time buyers, but for the wider economy." He also said that: "Everybody recognises that the UK housing market is slowing but it's against a background of house prices having risen by 170 per cent, and rising at 10 per cent a year in recent years. You should expect, consistent with what's happening in the UK generally, there to be a slowdown in house prices. It's one of the reasons I want to help restore confidence in the mortgage market and we are also taking broader action to get the markets working. **End Summary** Topics: Mortgages]]> Financial]]> Houses]]> Market]]>]]> About the Author: ]]> Sarah Othman is an author of several articles pertaining to Mortgages . She is known for her expertise on the subject and on other Business and Finance related topics.

First-Time Buyers Advised To Wait Out The Mortgage Mess

Wed, 14 May 2008 00:00:00 -0400

First time buyers are being urged to wait out the mortgage mess. The markets should settle down before customers consider getting a mortgage, experts say. 100% mortgages are no longer an option and a number of banks, including The Co-op Bank and First Direct are choosing to temporarily suspend availability of their home loans. Claire Frances of Moneysupermarket .com says: “Consumers looking for a mortgage are facing less choice and higher rates. The Bank of England has warned that the situation is likely to get worse before it gets better and that the squeeze on mortgages is likely to continue for the next few months at least.” Large mortgage providers such as Halifax, Abbey and Nationwide have all increased rates on their mortgages. The result of these higher rates is that the deals no longer look competitive and it is as though the banks are pricing themselves out of the market. The reason that banks might want to deter custom at this turbulent time is because many banks are trying to control their bad assets and they cannot afford to take on any more debt. Louise Cuming is the head of mortgage services at moneysupermarket. **End Summary** Topics: Mortgage]]> First Time Buyers]]> Home Loans]]>]]> About the Author: ]]> Sarah Othman is an author of several articles pertaining to Mortgages . She is known for her expertise on the subject and on other Business and Finance related articles.

Abbey Takes The Last 100% Mortgage Off The Market

Wed, 14 May 2008 00:00:00 -0400

The last 100% mortgage which was still on the market was removed from Abbey’s offerings on the 7th of April at 10pm. This marked the end of the no-deposit mortgage era. Abbey is responsible for 1 in 10 mortgages in the UK and the bank said that these moves were both in line with current market trends and similar to moves made by other lenders. One year ago 158 mortgages were available for first-time buyers who had no deposit, today there are none. This signals the end of the mortgage market surge which had helped to fuel the housing boom and as the house prices fall and mortgage products are withdrawn the future for property jarringly uncertain. The average property now costs approximately £200,000 which means first time buyers will have to save up a deposit of at least £10,000 in order to stand a chance of getting onto the property ladder. The Telegraph have reported that: “Borrowers who took out a 100 per cent deal in recent years will also be hit when they come to the end of their mortgage. **End Summary** Topics: Mortgage]]> market]]> Deposit]]> Bank]]>]]> About the Author: ]]> Sarah Othman is an author of several articles pertaining to Mortgages . She is known for her expertise on the subject and on other Business and Finance related topics.

Mortgages Are Halved As Market Struggles

Wed, 14 May 2008 00:00:00 -0400

Experts predict that the amount of mortgage collateral available from British banks will fall by a half this year. Warnings have come from The Council of Mortgage Lenders (CML) that mortgage funds could fall to half last year’s £108 billion fund as building societies and banks struggle to process the bad debts inherited from the subprime markets. The number of mortgage products available to customers has also been slashed by two-thirds since the credit crisis began. The majority of the products taken off the market were 100% home loans, but almost all of the best deals which were available last year have now gone. The CML’s Chairman Steven Crawshaw made a statement in an article on Icwales.co.uk: “Potential borrowing still significantly exceeds the industry’s collective capacity to supply funds. It is a real possibility that net lending in 2008 could reach only half last year’s level unless additional funds become available.” If additional funds do become available they will come as part of a package proposed by the Government in an effort to limit the damage caused by banks that are presently unwilling to lend to each other. **End Summary** Topics: Mortgages]]> Collateral]]> Debts]]> Bank]]>]]> About the Author: ]]> Sarah Othman is an author of several articles pertaining to Mortgages . She is known for her expertise on the subject and on other Business and Finance related topics.

Shocking Number Of People Drive Without Car Insurance

Tue, 13 May 2008 00:00:00 -0400

According to a survey by price comparison site moneysupermarket.com 1 in 7 British drivers admit to driving without car insurance. Other surprising findings by the website include the revelation that 15% of motorists said they have driven a car in the past which they were not insured to drive and a further 6% of those questioned had driven their own vehicle without insurance. "Anyone who drives without car insurance, no matter how short the distance and whether it's their car or someone else’s is breaking the law." Richard Mason, the director of insurance at moneysupermarket.com has warned. The study also revealed that men were twice more likely to break the law by driving without insurance than women. If any of these people had been caught driving without car insurance they would have faced a £200 fine, might have had their car confiscated and would have got 6 points on their license. **End Summary** Topics: Car Insurance]]> comparison site]]> Drivers]]>]]> About the Author: ]]> Sarah Othman is an author of several articles pertaining to Car Insurance . She is known for her expertise on the subject and on other Business and Finance related articles.

US Employers Arenât Paying Accident Insurance

Tue, 13 May 2008 00:00:00 -0400

It was recently revealed that thousands of workers in New Jersey are getting hurt at work and finding out that their employers have not taken out insurance to cover their injuries. The Star Ledger reported that the problem is a “small but growing slice” of the state's litigious system which pays out a total of $1.8 billion a year in accident claims. Experts say that the uninsured workers are an unnecessary burden on hospitals, charities and other social services. It is posited by the paper that the US government is not doing enough to tackle the issue and that administration is slack. “An uninsured worker who files a claim for benefits faces a complicated, onerous court system where one in 10 such claims [will drag on] for five years.” An article in The Star Ledger says: “Lawyers openly say they are reluctant to take cases involving the uninsured because they and their clients rarely get paid.” State officials are failing to adequately track cases and have only looked at 10,000 cases in the past 7 years. **End Summary** Topics: Accident Insurance]]> Injuries]]> Litigation Process]]>]]> About the Author: ]]> Sarah Othman is an author of several articles pertaining to Claims and Insurance. She is known for her expertise on the subject and on other Business and Finance related articles. See http://www.accidentsdirect.com.

Fraudulent Accident Claims Encouraged By Advertising Campaigns

Tue, 13 May 2008 00:00:00 -0400

Critics are saying that advertisements for personal injury companies encourage fraudulent accident claims. Funny and misleading advertisements are being cited as a cause for fraudulent accident claims this month. Rick Shapiro on Injury Board.com wrote a startling and critical polemic on the problem, saying that funny insurance advertisements are a disgrace. The American writer was particularly critical of a series of ads by a company which he chose not to name, but which used ‘funny cavemen’ to promote their services. “What do funny cavemen have to do with whether the rates offered by Geico, Allstate, State Farm, or any insurance company are fair or whether that insurance company is ethical?” Shapiro asked. “The message of these ads is what? Your insurance company thinks like cavemen? I think not.” He added. But Shapiro’s tirade was just one of many which can be found online. Industry experts have been blogging and they all seem to agree that a degree of integrity is missing from advertising both in the US and to a slightly lesser extent, here in the UK, with regards to insurers and personal injury firms. **End Summary** Topics: Accident Claims]]> Advertising]]> Advertisements]]> Personal Injury]]>]]> About the Author: ]]> Sarah Othman is an author of several articles pertaining to No Win No Fee, Compensation Claims , Personal Injury Claims and other legal articles.

Report Predicts Good News For Insurers

Tue, 13 May 2008 00:00:00 -0400

Car insurers are set to make a profit for the first time in 14 years according to a report released this year. They will make a profit in 2009 because of rises in insurance premiums the report has said. This year the industry faces a loss but the market will make a profit of £30 million pounds next year because the cost of premiums will outstrip the cost of accident claims, the Market Analyst Datamonitor revealed. According to research, the industry has not seen profit for 14 years due to an increase in claims, including personal injury and accident claims which have increased overall costs for insurance firms. Now though, insurance premiums have become so high that next year they will account for these losses and the market will see serious growth. Intense competition has thwarted any attempts to raise insurance premiums until now, but the researchers have said that since 2001 insurers have been more interested in expanding their market share than addressing the accidents claims bill which damages their profits. **End Summary** Topics: Compensation]]> Insurers]]> Accident Claims]]>]]> About the Author: ]]> Sarah Othman is an author of several articles pertaining to accident claims. She is known for her expertise on the subject and on other Business and Finance related articles. See http://www.accidentsdirect.com

Young Drivers Are More At Risk Of Accidental Death

Tue, 13 May 2008 00:00:00 -0400

The Department for Transport have said that eight out of ten accidental deaths involving 15 to 19 year old men in Great Britain are road casualties. With figures like this it is easy to see why car insurance premiums are higher for young drivers than for more experienced road users. Information released by the Department for Transport shows that everyday four people are killed or injured in accidents which involve younger motorists. In a research report published by the Association of British Insurers (ABI) it’s revealed that: “In the last few years, the proportion of young drivers killed or seriously injured on our roads has increased, while the overall number of deaths and serious injuries has fallen.” The ABI have joined forces with Brake, RoadSafe, the Parliamentary Council for Transport Safety and the RAC Foundation. Together the organisations aim to make young motorists safer on the roads. Young drivers are far more likely to be involved in a serious road accident than older motorists. 17 to 20 year old men are almost 5 times more likely to be in an accident which involves casualty than 30 to 59 year old men. **End Summary** Topics: Car Insurance]]> Young]]> Drivers]]> Accidents]]>]]> About the Author: ]]> Sarah Othman is an author of several articles pertaining to Car Insurance . She is known for her expertise on the subject and on other Business and Finance related articles.

The Truth Behind Liar Loans

Tue, 13 May 2008 00:00:00 -0400

As Nick Cohen of The Observer warns: “pray this country doesn’t go sub-prime”, Tony Levine of The Guardian is hailing ‘liar loans’ as: “an attractive option”. Cohen cites ‘liar loans’ or self-certification as one of the negative influences which brought the market crashing down and Levine appears to think they are the answer to many people’s prayers. ‘Liar loan’ is an industry term used to describe self-certification mortgages which applicants can get without having to supply proof of income. Instead of looking at proof of an applicant’s income a company will instead consider their credit score when deciding whether or not to lend. Self-certification loans were nicknamed liar loans because applicants were often able to lie about their income and therefore get loaned more funds than they would easily be able to pay back. When US sub-prime lenders were offering their near-destitute customers mortgages in order to hit sales figures liar loans were one of the many products on offer and Nick Cohen says that this was a contributing factor to the market’s collapse. **End Summary** Topics: Loans]]> Mortgages]]> Applicants]]> Company]]>]]> About the Author: ]]> Sarah Othman is an author of several articles pertaining to Secured Loans . She is known for her expertise on the subject and on other Business and Finance related articles.

Student Loans Are Flawed In Wales

Tue, 13 May 2008 00:00:00 -0400

Welsh graduates are saying the pay-as-you-earn system for paying back student loans is flawed. Graduates from Welsh universities are claiming that they have over-paid their student debts due to faults with the system. Some former students have also said that they’ve had money taken from their salary before they have reached high enough earnings to warrant it. In the US where the system for getting student loans is different, people are concerned that the current economic climate will affect student loan availability. And indeed, some US lenders are pulling out. But here in the UK, it’s another worry affecting students. Student loans shouldn’t be affected by the credit crunch but plenty of disgruntled students are finding the high number of administration problems which dog their repayments frustrating. The National Union of Students (NUS) is confident that the system is not working and has put forward new findings to the government. However, HM Revenue and Customs argue that it is up to the graduates themselves to monitor payments and assure that they pay the correct amount at the right time. **End Summary** Topics: Loans]]> Student Loans]]> Pay Back]]> Credit]]>]]> About the Author: ]]> Sarah Othman is an author of several articles pertaining to Personal Loans . She is known for her expertise on the subject and on other Business and Finance related topics.

Small Loans Help Communities

Tue, 13 May 2008 00:00:00 -0400

The economy may be rocking but there is a place where the word ‘loan’ is still a positive force. Many articles have been written on the subject of microfinance or charitable investment but it is still a widely unknown concept. Microfinance companies and charities offer small loans to poor people, who are often in developing countries who need a little financial help to be able to set up their own businesses. Most microfinance organisations aim to create systems for poor people to have access to loans, savings, insurance and fund transfers. Traditional banks don’t provide services to people who have very little money, so a solution has risen over the past five years to address the issue. It can also be hard for people in developing countries to keep their money safe so setting up small bank-like businesses has become essential to making sure the money they make remains secure. Microplace is one such organisation, set up by the ebay group, they accept money from the public which they then turn into loans for people in other countries who need a small amount of money to start their businesses up. **End Summary** Topics: Loans]]> Investment]]> Business]]> Money]]> Interest]]>]]> About the Author: ]]> Sarah Othman is an author of several articles pertaining to Secured Loans . She is known for her expertise on the subject and on other Business and Finance related topics.

Housing Minister Proposes Â£1,500 Grant To Help First-Time Buyers

Tue, 13 May 2008 00:00:00 -0400

Housing Minister, Caroline Flint and Prime Minister, Gordon Brown, have recently announced a new package of major measures to tackle the difficulty key workers and first-time buyers have been facing when trying to break into the property market. The options available to first time buyers will include a housing grant of £1,500. However, only those who take up a shared equity loan under the government’s new Open Market Homebuy scheme (OMHB) will be eligible for the grant. Treasury ministers and the housing minister will be working with the Council of Mortgage lenders in order to discover what can be done to help first-time buyers, while also maintaining their obligation to treat all consumers fairly. The proposed grants are intended for key workers who take up the new scheme and will help to supplement the buyer’s home loan by paying for solicitor’s charges, furniture and other associated costs. In an article firstrung.co.uk the Prime Minister said: "We want to do more for people who may need an extra hand to buy their first home. **End Summary** Topics: First Time Buyers]]> Loans]]> Solicitors]]>]]> About the Author: ]]> Sarah Othman is an author of several articles pertaining to Secured Loans . She is known for her expertise on the subject and on other Business and Finance related topics.

US Life Insurance Fraudsters Face Time Behind Bars

Tue, 13 May 2008 00:00:00 -0400

Two elderly American women, who hatched a plot to collect life insurance pay outs, are being charged with murder this month. The pair claimed to be engaged or related to homeless men in order to collect life insurance funds after killing them. Helen Golay (77) and Olga Rutterschmidt (75) ran down two homeless men in a car, with the intention of receiving large life insurance pay outs. Helen Golay told the authorities that she was each of the men’s fiancé in order to make a claim and Olga Rutterschmidt claimed to be the men’s cousin. Both women will face a life sentence with no condition of parole for good behaviour. According to the ABC website: “Deputy District Attorney Truc Do laid out for the jury evidence of a murder plan that was hatched years before it was carried out. There were 21 life insurance policies taken out on strangers.” Truc Do said. Two homeless men had insurance policies which the women had bought them and each was worth a lot of money. $829,500 was what could be paid out upon the death of Paul Vados and $5,790,000 would be paid out if Kenneth McDavid died. **End Summary** Topics: Life Insurance]]> Insurance]]> Fraudsters]]>]]> About the Author: ]]> Sarah Othman is an author of several articles pertaining to Life Insurance . She is known for her expertise on the subject and on other Business and Finance related topics.

Life Insurance Data Disc Lost By HSBC

Tue, 13 May 2008 00:00:00 -0400

The major bank has admitted that a computer disk containing the life insurance details of nearly 400,000 customers has been lost. The disk went missing at some stage during courier transportation between a HSBC office and the office of reinsurers Swiss Re. Usually life insurance information is transmitted between companies using a secure data connection, but on this occasion a technical fault prevented this, so a Royal Mail courier was used instead. "HSBC would like to apologise to its life assurance customers for any concern this may cause them. Each customer will be contacted shortly and a thorough investigation into this matter is under way," the bank has said. If HSBC is found guilty of not taking reasonable security precautions the bank could face a hefty fine from the Financial Services Authority. The company has already been fined once by the FSA this year to the tune of £1.1 million for ‘poor procedures’ when selling payment protection insurance. Last year Norwich Union Life was fined £1.26 million by the Financial Services Authority for procedural failings which meant fraudsters were able to get sensitive information from operators in the banks call centres. **End Summary** Topics: Life Insurance]]> HSBC]]> Customers]]> Bank]]>]]> About the Author: ]]> Sarah Othman is an author of several articles pertaining to Life Insurance . She is known for her expertise on the subject and on other Business and Finance related articles.

Articles by Sarah Othman on ArticleSnatch.com

Mortgage Lenders and First-Time Buyers Stall While the Market Worsens

Moneysupermarket.com Expresses Concern As Mortgages Slump

Life Insurance Firm Finds 46 year olds Most Materially Wealthy

Experts Advise Special Care When Choosing Secured Loans

2 Times as Many People Take Out Costly Loans

Visa Card Issued With 365% Interest Rate

Bank Of England Set To Rescue Loan Markets

Ultra Sound Technology To Prove Invisible Whiplash Injuries

Princess Diana Crash Draws Attention To Shoddy Safety

New Support For Whiplash Sufferers

Chancellor Of The Exchequer Makes New Pledges on Mortgages

First-Time Buyers Advised To Wait Out The Mortgage Mess

Abbey Takes The Last 100% Mortgage Off The Market

Mortgages Are Halved As Market Struggles

Shocking Number Of People Drive Without Car Insurance

US Employers Arenât Paying Accident Insurance

Fraudulent Accident Claims Encouraged By Advertising Campaigns

Report Predicts Good News For Insurers

Young Drivers Are More At Risk Of Accidental Death

The Truth Behind Liar Loans

Student Loans Are Flawed In Wales

Small Loans Help Communities

Housing Minister Proposes Â£1,500 Grant To Help First-Time Buyers

US Life Insurance Fraudsters Face Time Behind Bars

Life Insurance Data Disc Lost By HSBC

US Employers Arenât Paying Accident Insurance