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Cable backs RBS six month grace period

Vince Cable, shadow chancellor for the Liberal Democrats, has called for government supported lenders to follow Royal Bank of Scotland and give borrowers in arrears six months before pursuing repossession.

Cable says: “This welcome news will be of great relief to struggling RBS customer however, it will be a mere drop in the ocean unless it is followed by the whole industry.

“The government must now insist that all the nationalised and part-nationalised banks follow suit.”

Commenting on the announcement that mortgage lending fell by nearly 70% in October, he adds: “As the housing market continues to fall we should expect to see the amount of mortgage lending to fall. However, a collapse of this magnitude suggests this is much more than people choosing not to move house.

“It is critical that the government ensures the banks start lending again to prevent this recession becoming deeper and even more painful.”


Barroso shows typical EU contempt for voters

In a broadcast on French radio Jose Manuel Barroso, the President of the European Commission and former Prime Minister of Portugal, said that some British politicians had recently said to him, “If we had the euro, we would have been better off.”

The Perils of Passive Investing

The era of loose monetary policy created an environment that rewarded passive investors in the US. However, with the US raising interest rates for the first time since 2006, Felix Wintle explains why he believes active investing will be more important than ever. In the video Felix discusses: The rising cost of capital and its […]


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