UK employers are cutting down their recruitment programmes with demand for staff falling at the fastest rate since 1997, according to one report out today.
With UK unemployment set expected to reach 3million by the end of 2009, a report by the Recruitment and Employment Confederation (REC) and KPMG warned that those currently looking for jobs would face an uphill battle to find available vacancies.
It’s coming, there’s no way that you can hide from it and, if you aren’t careful, it could cause you some real headaches. That’s right; the January credit card bill is almost here.
Whilst the credit crunch appears to have curbed the Christmas shopping spree to an extent, the new year is almost certainly going to mean new debt for thousands of credit card users across the UK and unless you tackle the problem head on, you could be paying a heavy price for that Christmas cheer.
Mortgage lenders are continuing to insist on large deposits for new mortgage products a survey has revealed, with just 11 mortgage products currently on the market for borrowers with 0% deposit.
The report from the information service Moneyfacts has revealed that 25% of all mortgage deals currently on the market now require a 40% deposit as lenders continue to look at ways to rein in lending and minimise the risk of potentially bad debt.
Over the course of 2007, we saw mortgage lending continually decline. New figures released by the Bank of England have confirmed predictions that mortgage lending has slumped to a record low. Mortgage lending, during the last quarter of the year hit the lowest level since records began, 10 years ago.
Just 27,000 mortgages were approved during November, a worse outcome than was expected as banks are putting further restriction on the availability of loans.
2009 is set to be a record year for the amount of people who will face insolvency, according to accountants KPMG. The group are expecting numbers to reach record levels of around 150,000 people in the UK likely to be in significant amounts of debt which will lead to insolvency.
