Tuesday, February 10, 2009

More Doom and Gloom ...........

Sorry guys but it is "The Recessionistas" job to keep you informed, although perhaps I should stick with the ways to make and save money rather than keep you updated on latest news as a lot of my friends seem to be saying that they are sick to death of hearing about the Credit Crunch/Recession everytime they turn the radio or t.v. on or read a newspaper. But for now, here goes anyway......
Northern Rock Mortgages
Losses incurred by Northern Rock on repossessed homes soared nearly four-fold during 2008 as the economy deteriorated, figures show.
The nationalised bank saw the steep increases in losses on mortgages that are held in its Granite securitisation vehicle, which represents around half of Northern Rock’s total mortgage book.
Petrol Prices
Petrol prices are rising again, the AA said today, despite cheaper oil and the deepening recession.
The motoring group said diesel has once again topped the £1 a litre mark, and that unleaded fuel now costs an average of 90.1p a litre.
This means the cost of unleaded has risen by more than 4p a litre since January 6, when prices hit their lowest point this year.

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