US man pays off mortgage in pennies
Never ceases to amaze me how much cash is on the pavements! £1 & £2 coins are quite frequent! Handed in a £20 note found at a Caravan Park once – it wasn’t claimed by anyone within 24 hours so they gave it to me!
John Morgan
09 Jul 2012 | 16:47
Student Loans Company and pension funds could help homebuyers
Nice to see somebody thinking of an alternative way of getting a deposit together. What is the problem with the old way? Mortgage Indemnity Guarantee Premiums to allow lenders to advance higher loan to values.
Hugh De Mann
06 Jul 2012 | 11:01
BoE releases details of £80bn Funding for Lending scheme
Will it ever be realised that mortgage regulations have contributed more to this than other issues! When perfectly credit worthy people with large deposits cannot get a mortgage, transactions will fall! Other issues do have little bearings!
KS
13 Jul 2012 | 12:52
Diamond agrees to give up £20m bonus
The problem with apologies from Captains of Industry is that those offended, having lost money or businesses are rarely properly compensated. My mind goes to those convicted of war crimes.
They bring an enduring and terrible shame and condemnation upon the entire ‘nation’ (read, group of people)! Even war crimes judicial proceedings attempt to compensate the families of victims.
Why not use that £20m to offer some compensation those effected and hope, in time, Barclays can be forgiven?
John
10 Jul 2012 | 11:19
Industry positive about Abbey’s quality based fees
From my banking days, the UK system applied sensible rules to limiting low denominations for disproportionately larger transactions. A UK lender could refuse this payment as there is a limit on what is deemed reasonable tender for coinage.
Indeed, I recall a case of just that where someone had gone to great efforts changing the money in to tens of thousands of pounds to be told the payment was declined. It sounds bad for those wishing to “stick it to the man”, but not if someone owes you money, so it is worth knowing this just in case.
The maximum in bronze (1p or 2p) is just 20 pence, but silver (5p and 10p) gets more annoying with a maximum of £5. 5ps are the worst to count as they are so small. There is no limit on notes, but do not go off and buy crates of £1 notes from a Scottish banks. Scottish and NI notes are not legal tender and so do not have to be accepted in England and Wales – mainly because they would be unrecognisable to many retailers.
Arron Bardoe
09 Jul 2012 | 17:09
Thanks for all your comments this week
