 A substantial fall in the number of people going bankrupt could be due to high fees not any improvement in personal finances, a leading debt advice body has warned.
Joanna Elson, the chief executive of the Money Advice Trust, said that a 10 per cent fall in the numbers of people going insolvent "may largely be driven by increases in the fees required to make yourself bankrupt". She added: "People struggling with debt often can't afford the £700 it costs to go bankrupt [£525 for the deposit plus £175 for the court fee], even though it would otherwise be their best option. "This leaves them in a financial black hole. The numbers using debt relief orders, one of the cheaper remedies, has risen." On Friday, it was revealed there were 27,390 personal insolvencies in England and Wales in the second quarter of this year, a 10 per cent decrease on the same period a year ago and the lowest figure since the summer of 2008. The figures are a surprise as the UK has recently entered recession, but Ms Elson warned insolvencies may spike again later this year: "These figures are likely to get worse, with incomes increasingly unable to match rising prices." 
It is important when considering hotel investment that the hotel, operator and branding match the local area and market.
The Holiday Inn Express® London - ExCel, is located within London’s Royal Docks in East London – designated a “Special Enterprise Zone” in 2011. The site of the hotel will be under a mile from London’s City airport. The O2™ Arena can be reached in a few minutes and the hotel site is conveniently located for tourist attractions such as the National Maritime Museum, Greenwich Observatory and also Canary Wharf. Central London is only 25 minutes away THE EXCEL™ CENTRE about 2.5 minutes’ walk away. The hotel site is found on the waterfront in the centre of the Royal Docks. It was the UK’s first purpose built international convention centre boasting 100,000 sqm of exhibition space, opened in late 2000 and renovated and extended in 2010, which increased the capacity by 50%. It is used by blue-chip companies for meetings, AGM’s conventions as well as sporting and cultural events LONDON CITY AIRPORT (0.5 miles) is just 3 miles from London’s financial district and is vital for business and plays an important part in keeping up with the growth of London. The business community recognizes the convenience of its location and size. In 2009, London City airport gained permission to increase flights by 50% and in 2011, British Airways announced a number of new flights while Blue Islands Airline announced the launch of its new executive service from the airport. If you are looking for an arm chair hotel room investment in London this must be it. 50% non-status finance and prices from £135,000 on an RICS valuation of £161,000 combine this with the ideal location, exit strategy AND well-known operator. LINK - to further information.  MILLIONS of new pensioners were warned this week that they face a retirement of poverty after weeks of slashed annual payouts.
Pension companies have cut rates offered on their guaranteed annuity incomes 24 times since the start of summer. Standard Life is the latest to do so, lopping five per cent off the rate offered to the newly-retired and those approaching retirement. And male pensioners will suffer an extra blow later this year with the introduction of the EU’s new “gender directive” which will further force down annuities for men. Craig Palfrey, founding partner of independent financial advisers Penguin Wealth, said: “Annuities are in meltdown. We’re way beyond red alert. They have been coming down relentlessly and Standard Life’s decision to take a sword to rates is just the latest example. Twenty years ago a £100,000 pension fund would have guaranteed an income of £15,640 a year for life for a 65-year-old man. Now it is just £5,140 a year. And the crisis decimating pensions is set to continue for months, perhaps even years, piling on the agony for the newly-retired. Experts warn that the situation is likely to worsen as annuity providers struggle with volatility in the stock market and the Bank of England’s quantitative easing (QE) strategy to tackle the recession. The money-printing policy has been attacked for triggering “a death spiral” in pensions, which some experts say has led to the worst retirement payouts in history. NOW is the time to take control of YOUR pension before it is too late - SIPP LINK. |
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