Archive for June, 2010
G20 summit credit crunch told UK banks told to lend less or boost funds by £130bn
Britain’s banks will have to permanently bolster their balance sheets by as much as £130bn – equivalent to £5,200 for every household in Britain – under new rules agreed by G20 world leaders- or else cut back their lending. The heads of state and finance ministers at the Toronto G20 summit agreed that in future [...]
June 30, 2010
Tags: Bank of England, banks, consolidate debt loans, G20, refinancing rates Posted in: Uncategorized 
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When is a cut in overdraft interest rates actually an increase- ask Lloyds
Following on from my post yesterday lloyds overdraft charges about the supposed cut in the overdraft fees on its current accounts. From 2 December it is cutting the daily and monthly fees for customers who go overdrawn without permission and will halve to £10 the fee for bouncing a cheque or electronic payment. Last month, [...]
June 29, 2010
Tags: banks, borrowing, Credit Crunch, Interest Rates Posted in: Uncategorized No Comments
Lloyds TSB to cut overdraft fees
Lloyds TSB is to cut the overdraft fees on its current accounts from December. From 2 December it is cutting the daily and monthly fees for customers who go overdrawn without permission and will halve to £10 the fee for bouncing a cheque or electronic payment. Last month, the coalition government said it would stop [...]
June 28, 2010
Tags: banks, borrowing, credit cards, Credit Crunch, finances Posted in: Uncategorized One Comment
Interest rate rise could be on the way after Bank of England split
A member of the Bank of England’s Monetary Policy Committee (MPC) has called for a rise in interest rates for the first time in almost two years. Andrew Sentance voted to lift rates to 0.75% from the record low of 0.5%, due to stubborn inflation, minutes show. It was the first call for a UK [...]
June 25, 2010
Tags: Bank of England, Interest Rates, MPC Posted in: Uncategorized No Comments
Budget balanced cuts with taxes to reduce debts
The Chancellor, George Osborne, has outlined the government’s plans to “balance the books” by 2016. A prudent course of action for any organistion which is overspending the equivalent of a quarter of it’s annual income. Mr Osborne said the government planned to cut the structural budget deficit to zero in the next six years. The [...]
June 24, 2010
Tags: bonds, Conservatives, uk recession Posted in: Uncategorized No Comments
Loan firms warned over unacceptable legal tactics in suing defaulters
Loan companies have been warned by the Office of Fair Trading (OFT) not to sue defaulting customers in different legal jurisdictions of the UK to the one they live in. It said the tactic was unfair and might stop people from defending themselves. The OFT has warned Creation Consumer Finance not to sue Scottish borrowers [...]
June 23, 2010
Tags: borrowing, Lenders, loans Posted in: Uncategorized No Comments
UK credit card companies becoming more competitive
After more than two years in the denial, it seems the credit card market is gearing back up with a marked increase in the number of cards offering a 0 per cent rate to get people to transfer their balances.At the start of 2010, there were a measly three cards offering a 0 per cent [...]
June 21, 2010
Tags: borrowing, credit cards, Credit Crunch, sub prime loans Posted in: Uncategorized No Comments
Short term loans don’t need more restrictions says OFT
The Office of Fair Trading (OFT) has stopped from recommending price controls on expensive forms of short term borrowing. The watchdog has been scrutinising the pawnbroking, payday loan and home credit businesses since July last year. It said although such borrowing was expensive, it met a need for people who could not otherwise borrow cash. [...]
June 18, 2010
Tags: borrowing, credit cards, Credit Crunch, loans, sub prime loans Posted in: Uncategorized No Comments
Bank card and credit card charges cause high street protest
Banks are making hundreds of millions of pounds a year and pushing up prices on the high street by levying unjustifiably high fees on credit and debit card sales, retailers rage. New figures from the British Retail Consortium indicate that the average credit card transaction costs retailers 34p, compared with 8½p for a debit card [...]
June 17, 2010
Tags: consolidate debt loans, credit cards, Credit Crunch Posted in: Uncategorized No Comments
Bank payments system confusing and slow
A system designed to make banking transactions quicker and easier has been branded unfair and confusing by the consumer group Which?Many bank and credit card customers are still waiting three to four days for money to clear, even though the Faster Payments scheme began two years ago. One in four credit card companies still cannot [...]
June 16, 2010
Tags: banks, Credit Crunch, finances, recession Posted in: Uncategorized No Comments
