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One in six Britons think UK is in recession

One in six Britons believe the UK is already in a recession, reveals a report by consumer finance site

While many ‘recession virgins’ have yet to notice the downturn a significant amount of homeowners acknowledge the uncertain time with 74% deciding to sit tight until the market returns.

The report, ‘Cracking the credit crunch: recession veterans vs recession virgins’, studied the differences in opinion and behaviours of recession experienced and inexperienced age groups and highlights the uncertain financial sentiment among the citizens of the nation.

One in 20 fear a recession will continue indefinitely, with 31% predicting it will last at least two years.

The website says an additional 20% of the over 1000 adults polled are filled with fear at the slightest suggestion of a recession.

Already 3% of those polled have lost their homes and 6% have lost their jobs.

David Kuo, head of personal finance at, says: “The term ‘credit crunch’ has become a part of our everyday vocabulary over the past eight months, but it’s instructive to see how people feel about a looming recession.

“In an economic downturn there will be opportunities and threats, and we can take steps to maximise the first and minimise the second. And simple measures such as reining in spending will ensure that we have a pot of spare money tucked away to see us through a slump.”


Brokers must show they will survive

Consumers want to be reassured their brokers will still be around in the future should problems arise so small firms must look at how to prove their financial stability, says Rob Clifford

Amber axes new lending

Amber Homeloans has withdrawn from new lending and will focus only on its current portfolio of loans.The lender says changes in the market during the past six months have led it to form a new business strategy to secure its future as a niche lending leader. It is not known if redudancies will form part […]

MfB appoints BDM

Mortgages for Business has hired Emma Neylon as a business development manager to help expand its B2B proposition.Neylon will manage MfB’s business partner and network relationships and she will be the support for any deal placement concerns, issues or advice.Neylon has previously worked for Mortgage Trust, Optoma and Concert Mortgages and she brings a broad […]

InterBay Commercial revamps product range

InterBay Commercial has revamped its product range as part of its plan to reduce business volumes. The maximum LTV on its products is now 70%, with the minimum loan amount now at £100,000 and proc fee at 1.5%. The lender will consider property types, including semi-commercial, offices, retail outlets, doctors and dentists, and day care […]


What employers should expect over the next five years

A major feature of our articles is looking into the Jelf Employee Benefits crystal ball to predict changes and trends that may influence the short and medium term shape of UK employee benefits.  By flagging such changes early we aim to provide our followers with the tools to make sensible and informed decisions on their benefits offerings.


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