Banks may use the small print in mortgage contracts to prevent borrowers benefiting from future interest rate cuts by the Bank of England. Experts warned yesterday that little-known clauses mean the interest rate paid by borrowers may not fall when the Bank’s rate drops. Last week the Bank cut
The chancellor Alistair Darling has urged mortgage lenders to pass the recent interest rate cuts on to homeowners, saying it was time lenders ‘played their part’ after the Bank of England injected £15 billion into the financial system. After conceding on Friday that the present financial troubles are the
Margaret Beckett has announced a proposed amendment to the law that would give tenants whose landlords are facing repossession more time to find somewhere else to live. Under the new proposals tenants will be given two months’ notice by mortgage lenders who have taken possession of the landlord’s home.
A consultation into the Town and Country Planning Act concerning homes in multiple occupancy (HMOs) was launched yesterday. The department for Communities and Local Government wants to identify ways of improving the problems occurring in areas with a high density of HMOs, such as antisocial behaviour and litter. The
FRANK, the national drugs information service, has launched a real-time text messaging service for young people where they can get advice and information from trained personnel on drugs and drug-related issues. It has scope to reach more than 6.5 million 11- to 18-year-olds across the country.