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Interest Rates Fall, Is It Enough? The Bank of England has just cut the interest rate by one quarter of a per cent to 5.5%, but will it be enough to re-generate a housing market with a severe attack of the blues? Repossessions at an 8 year high. The latest news on home repossessions makes for gloomy reading. According to The Council of Mortgage Lenders repossession is at its highest since 1999; 27,100 homes were repossessed during 2007 against 22,400 in 2006. The organisation warns of further rises as we go through 2008 and householders see an impact from rising energy prices and increases in bank lending rates. 10p Tax Cut looks set to add to Debt Problems Gordon Brown and Allistair Darling are facing opposition from their own back benchers over the controversial removal of the 10p tax rate band. By no means will everyone lose out from this cut, but some could have debt problems exacerbated by unexpected reductions in their pay-packets.

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