Weight loss medication Ozempic allegedly 'takes woman's life'
Trish Webster lost 16 kilogrammes altogether in three months, but that came at the cost of her life
Trish Webster lost 16 kilogrammes altogether in three months, but that came at the cost of her life
The number of mortgages in arrears has jumped as cost-of-living pressures and higher rates on home loans bite, according to a trade association representing lenders.
Some landlords may not be in a position where they can charge rents which will cover their mortgage, UK Finance suggested.
Across the UK, 87,930 homeowner mortgages were in arrears in the third quarter of 2023, 7% more than the previous quarter.
The number of buy-to-let (BTL) mortgages in arrears was 11,540, a 29% increase during the same period.
UK Finance’s report said: “The increases in arrears are driven by the combined impact of both cost-of-living pressures and higher interest rates.
“In particular, interest rate pressures are felt more acutely in the BTL sector, where landlords may not be able to raise rents to cover the increases in their payments.”
UK Finance said mortgage arrears are still running at less than half the levels seen in 2009.
“This reflects the benefits of lender stress tests carried out to ensure borrowers will be able to keep up with their mortgage payments, even if their interest rate rises above those in place when they first took out their mortgages,” the report said.
UK Finance expects the combined number of homeowner and BTL mortgages in arrears to remain below 1% of the total number of mortgaged properties by the end of 2023.
Some 630 homeowner mortgaged properties were repossessed in the third quarter of 2023, 9% fewer than in the previous quarter.
And 450 BTL mortgaged properties were repossessed during the same period, unchanged from the second quarter of 2023.
Lenders have support available to anyone struggling with their mortgage payments.
There are a range of options which will be tailored to customers’ individual circumstances.
If customers need support, or are worried about their finances, they should get in touch with their lender to discuss the options available for their circumstances, UK Finance said.
Some 48 mortgage lenders representing more than 90% of the market have signed up to the Government’s mortgage charter, committing them to additional support for borrowers.
This includes giving customers approaching the end of a fixed-rate mortgage the chance to lock in a deal and request a better like-for-like deal if rates change up to six months ahead, and a guarantee of no repossession within 12 months of a first missed payment.
Eric Leenders, managing director of personal finance at UK Finance, said: “Anyone worried about making their mortgage payments should contact their bank as soon as they can.
“All lenders have teams of experts ready to help anyone struggling with their mortgage payments with tailored support. The sooner you get in touch, the more support options your lender will be able to offer. What’s more, reaching out to your bank to find out what support is available won’t affect your credit score.”
Myron Jobson, senior personal finance analyst at interactive investor, said: “It is clear that the 14 consecutive interest rate hikes have hit many landlords hard – especially the smaller ones. Those who haven’t been able to pass on the heightened cost burden to their tenants or cover it out of their own pocket have been forced to have a radical rethink of their business model.
“There have been reports of a growing number of landlords selling up because of the double whammy of higher mortgage rates and also the end of mortgage interest relief since 2020, which has curtailed profitability. The sale of rental property could have a telling impact on the balance of supply and demand in the housing market.”
Craig Fish, director at London-based broker Lodestone Mortgages & Protection, told website Newspage: “The buy-to-let sector has been hit harder than any of late. As if the taxation changes weren’t bad enough, we now have higher interest rates and stress testing causing untold pain.”
Laura Suter, head of personal finance at AJ Bell, said: “It’s reassuring that arrears remain low by historical levels, and the current mortgage charter that lenders have signed up to is preventing these numbers from rising further. The agreement means that those struggling to pay their mortgage can switch to interest only, make part-payments or extend their term.
“However, these are all temporary measures and, as we’re not expecting interest rates to fall any time soon, at some point these homeowners will have to face the reality of higher rates – meaning many will fall into arrears.”
DealsEnergy
09 November 2023, 11:33 am 1 minute
Reuters exclusively reported that Siemens Energy had secured a provisional deal for around 15 billion euros in project-related guarantees from the German government, Siemens AG and commercial banks, marking a breakthrough for the energy equipment maker after weeks of intense discussions.
Shares in Siemens Energy rose 8% on the Reuters report, while Siemens AG, which still holds a 25.1% stake in the former division, also advanced 2.4%. The issue around guarantees has been a major concern for investors fearing that Siemens Energy could lose business as a result.
Article Tags
Topics of Interest: DealsEnergy
Type: Reuters Best
Sectors: Commodities & Energy
Regions: Europe
Countries: Germany
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story
“I’m already experiencing self-doubt. But now I want to know if there is anything I can do to cope with this situation.”
Around 100 people were injured Saturday when a cruise ship off the coast of the United Kingdom entered rough seas
Saga Cruises’ Spirit of Discovery ship encountered treacherous conditions Saturday in the U.K.’s Bay of Biscay. The vessel’s automatic safety systems were activated, shifting the boat to one side before it came to a stop, according to the BBC.
A spokesperson for Saga Cruises told the outlet that the ship docked on Monday in Portsmouth, adding that nearly 100 people suffered minor injuries during the ship’s maneuver. The spokesperson said that five people were transported to area hospitals once on land.
The ship had embarked on a 14-day cruise to the Canary Islands, which left on Oct. 24 with around 1,000 people onboard before cruise staff made a decision to turn around and head back to the U.K.
OFFICIALS UPDATE ON CRUISE SHIP CREW MEMBER WHO WENT OVERBOARD
However, one passenger told the BBC that the situation was dire. Another said people “feared for their lives.”
“To say ‘minor injuries’ is an insult to the many horrific broken bones, pelvises, lacerations, stitches etc. that were caused [to] a very old passenger clientele,” the passenger said. “People were writing texts to their loved ones in case we capsized.”
“People were writing texts to their loved ones in case we capsized.”
“The tone of voice in our captain… he was physically scared. We had crew crying. We had many passengers in awful states of fear,” the passenger added.
Jan Bendall, a passenger on the ship, told the BBC that the captain came over the speaker system and told passengers to “remain seated or lie down.”
One passenger, Emma Danbury, provided Fox News Digital with a video from her cabin showing waves hitting the ship.
CRUISE SHIP FALL LEFT VIRGINIA WOMAN FEARING ‘SHE WAS GOING TO DIE’ IN FOREIGN HOSPITAL, DAUGHTER SAYS
Bendall said the ship was at a standstill for about 15 hours during the storm, adding that her husband and herself were “holding on for dear life.”
A portion of the dining room was converted into a “makeshift medical area,” Bendall said, adding that passengers were asked to remain in their cabins for a portion of Saturday and all of Sunday.
Alan Grisedale, a passenger on the ship, said “tables were flying” with waves “throwing people around all up and down the place.”
In a statement to the BBC, Saga said there was “very limited” damage to fixtures inside the ship, but it “remained safe at all times.”
CLICK TO GET THE FOX NEWS APP
“While the weather is clearly beyond our control, we want to offer our sincere apologies to all those affected who are now safely on their way home in calmer seas,” the spokesperson said.
Fox News Digital reached out to Saga Cruises for comment.
Adam Sabes is a writer for Fox News Digital. Story tips can be sent to Adam.Sabes@fox.com and on Twitter @asabes10.
Business & FinanceDeals
07 November 2023, 5:23 pm 1 minute
Reuters exclusively reported that Activist investor Elliott Investment Management has built a stake in BioMarin Pharmaceutical (BMRN.O) and has been in discussions with the biotechnology company for months about its future. The hedge fund, which oversees some $60 billion in assets, has spent over $1 billion on the stake in BioMarin, which focuses on rare genetic disorders and is valued at about $16 billion.
BioMarin shares rose 12% to $85.36 on the news in morning trading in New York on Tuesday. Prior to news of Elliott’s engagement, BioMarin shares were down 24% year-to-date, significantly underperforming the iShares Biotechnology ETF (IBB.O), which is down 8.6%.
Article Tags
Topics of Interest: Business & FinanceDeals
Type: Reuters Best
Sectors: Business & FinanceMergers & AcquisitionPharmaceuticals & Healthcare
Regions: Americas
Countries: US
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story
Older cannabis users have a 34% higher likelihood of developing heart failure, heart attack, stroke
CNN
—
Novak Djokovic’s straight-sets victory over Cameron Norrie in the Italian Open boiled over when the British tennis star hit the back of the world No. 1’s leg with a smash.
The incident occurred at the start of the second set and despite an instant apology from Norrie, Djokovic did not respond well, proceeding to stare down his opponent.
The stare from Djokovic kept going as he walked towards the net before offering a verbal rebuttal to the British No. 1.
“Maybe you could say he didn’t hit me deliberately,” Djokovic told reporters after his 6-3 6-4 win in the round of 16.
“I don’t know if he saw me. I mean … you can always see where the player is positioned on the court.”
Djokovic added that he wasn’t altogether enamored with Norrie’s behavior in general throughout the match.
“It was not so much maybe about that, but it was maybe a combination of things,” said the 35-year-old Djokovic.
“He was doing all the things that we’re allowed. He’s allowed to take a medical timeout. He’s allowed to hit a player. He’s allowed to say ‘come on’ in the face more or less every single point from basically first game.
“Those are the things that we players know in the locker room it’s not fair play, it’s not how we treat each other. But, again, it’s allowed.”
However, Djokovic didn’t let his unhappiness with Norrie impact his form on the court as he eased towards a place in the Italian Open quarterfinals.
“He brought the fire, and I responded to that. I’m not going to allow someone behaving like this just bending my head. I’m going to respond to that,” added the 22-time grand slam winner.
“I got along with Cameron really well all these years that he’s been on the tour. Practised with each other. He’s a very nice guy off the court, so I don’t understand this kind of attitude on the court, to be honest.”
A representative of Norrie told CNN that the world No. 13 had no comment on Djokovic’s post-game remarks.
Implant stimulates nerves in spine, allowing patients to walk, even in situations where they were housebound
READ: Trump indictment related to hush money payment