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Whitehall delegates offered a fair hearing - Financial Times
There are two sorts of Whitehall summits, according to one seasoned observer: those that are staged to provide good publicity for the politicians and those that are held to reach real decisions. This week will see the latest attempt by the Treasury ...

Government refuses to give councils more cash - The Independent
Tories accuse Brown of 'lifetime' tax rises Clarke warns of 'deepest recession' Northern Rock increases fixed rate mortgage cost Revealed: Labour's £37bn stealth spending cuts Banks accused of failing to keep pledge on lending Barroso unveils ...

Ministers could set loan rates, banks warned - Guardian Unlimited
Direct Whitehall control over the lending rates of Britain's high-street banks is among the contingency plans being drawn up by Alistair Darling to ensure that the dearth of lending caused by the credit crunch does not force thousands of small ...

Martha Kearney's week - BBC UK News
A leak enquiry in Whitehall is normally a standing joke. Stories emerge from government departments all the time but very rarely is anyone caught. French Finance Minister Christine Lagarde is sceptical about VAT cuts Generally the leaks tend to come ...

Banks 'to freeze mortgages' as Treasury reveals house prices will ... - Daily Mail
Mortgage lending could dry up completely next year leaving no-one able to afford to buy a new home, according to a devastating report. In a huge blow to Alistair Darling's plans for keeping Britain in tact through a crippling recession, experts ...

Lehigh Valley Congregations serve up Thanksgiving, and more video - Allentown Morning Call
Dick Schermerhorn has served a few plates of turkey in his day, dishing it out annually at St. Paul's Lutheran Church in Allentown every Thanksgiving for 29 years. This year, with the economy ever more stressed by credit crises and mortgage meltdowns ...

PRESS DIGEST - Financial Times - Nov 29 - Reuters
Easy access saving accounts offering rates over six per cent are about to disappear as banks and building societies, including Nationwide, Alliance & Leicester, Royal Bank of Scotland (RBS.L: Quote , Profile , Research , Stock Buzz ) and NatWest, cut ...

Darling unveils 45p tax on rich to fund recession package - Guardian Unlimited
Alistair Darling will announce today that income tax for those earning more than £150,000 a year will rise to 45p in the pound during the next parliament to help pay for Labour's £15bn anti-recession emergency package. Faced with the challenge of ...

Darling's dramatic U-turn: A gamble to make or break Britain - Daily Mail
His speech was complex and packed with mind-numbing detail. But make no mistake: in the Commons yesterday, Chancellor Alistair Darling announced the most dramatic about-turn in government policy since the 1970s. Indeed, it is no exaggeration to say ...

Retailers face tsunami on the High Street - This is Money
The implosion at Woolworths and MFI's return to administration provide sharp reminders of why the Chancellor chose VAT as his main vehicle for driving fiscal stimulus. The advantage of the VAT cut is that it can be done with the minimum of ...

Today's Mortgage Terms starting with N

Notice of Default: A step in the foreclosure process in which the lender formally informs the court that the borrower is in late in payments.

Non-Assumption Clause: A provision in a mortgage contract preventing the assumption of the mortgage by another borrower without the lenders permission.

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