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Cheltenham & Gloucester plays down fears of recession

Cheltenham & Gloucester is using its latest mortgage survey to predict that there will be no recession in 1999.

It says that the average amount a homebuyer spends on their mortgage is set to drop 26 per cent in 1999.

Borrowers are set to reduce the amount of money they spend on a mortgage to £27.80 for every £100 they earn from £37.50 in the third quarter of 1998.

Managing director Roger Burden says: &#34Not only do these figures show that homeowners are in a great position they also add weight to arguments that recession is not as likely as some pundits have feared.&#34


UK banks failing to deliver online services

British banks are not geared up to embrace online trading according to a survey by Bull Information Systems.The information provider says that only 47 per cent of banks provide online facilities despite 70 per cent saying that they believe it is the solution to increasing volumes of business.It found that only 23 per cent of […]

Leeds & Holbeck wages war against carpetbaggers

Leeds &Holbeck is hoping to kill-off carpetbaggers by making new investors sign over any windfall payments to charity.The society says the initiative will allow it to reduce minimum balances on many investment products.Chief executive Ian Ward says: &#34The Foundation has been set up to ensure we can offer a wider range of competitive savings and […]


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