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Week in numbers

£48,510 – The households classed as homeless by the government in 2011, up 14% on 2010, the biggest hike in nine years.

36% – The percentage of recent graduates in low-skilled jobs in Q4 2011, up from 26.7% in 2001, according to the Office for National Statistics.

2,500 – The number of job cuts announced last week by Allied Irish Banks across the Republic, Northern Ireland and Britain.

49% – The proportion of borrowers who have not reviewed their mortgage since the base rate was cut to 0.5% three years ago, says

£176 – The averageamountbywhich monthly mortgage payments are higher than rental payments, says the Council of Mortgage Lenders.

1.7million –  The number of people who Money Advice Trust expects to call debt charities this year, 16% up on 2010.

1,000 – The number of times The Mortgage Works’ buy-to-let affordability calculator app has been downloaded by iPhone and iPad users in the two weeks since launching.

0.1% – The forecast decline in eurozone gross domestic product in 2012 by the European Central Bank, down from a previous forecast of 0.3% growth.


Keep jargon out of PPI mis-selling letters to clients, FSA tells industry

The Financial Services Authority is consulting with firms on how they should deal with potential payment protection insurance mis-selling victims who are yet to complain. The regulator says firms writing to consumers who may have been mis-sold PPI must do so without using financial jargon. In a guidance consultation, the FSA says that contacting customers […]

Bank of England keeps rates on hold

The Bank of England’s Monetary Policy Committee has voted to keep interest rates on hold at 0.5% and to maintain the size of the asset purchase programme at its March meeting.


The Mortgage Mole

It is all over It appears television funnyman Nick Hancock will not be giving up his day job anytime soon and returning to the world of mortgage broking.

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David Cameron appoints former adviser to Tony Blair as new pensions minister

Following a cabinet reshuffle in light of last week’s general election, David Cameron has announced that Ros Altmann will be replacing Steve Webb as pensions minister. As the industry works with one of the largest reforms to the sector in almost a century, the former adviser to Tony Blair has been tasked with ensuring that the pensions revolution does not stray off track.


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