Archive for October, 2010
Bank customers losing £12bn in interest payments
Bank customers are losing out on a possible £12bn in interest payments by staying with low-rate accounts, according to Which?, the consumers’ association. It said that nearly half of 1,200 savings accounts in the UK paid interest of 0.5% or less. Which? said if all savers switched to accounts with the highest rates they could [...]
October 29, 2010
Tags: banks, Interest Rates, uk, UK loans rates Posted in: Uncategorized 
3 Comments
Mervyn King attacks absurd bank risks as accident waiting to happen
Bank of England Governor Mervyn King Mr King said banks would need to rely on “much, much more equity” to finance risky investments. He called the banks’ reliance on short term debt to meet funding needs in 2008 an “accident waiting to happen”. He said that, in future, banks must be forced to rely much [...]
October 28, 2010
Tags: bank lending, Bank of England, Credit Crunch, finances, Mervyn King, sub prime loans Posted in: Uncategorized 3 Comments
Ex-prisoners must have access to financial services
Banks must do more to help ex-prisoners open accounts, apply for credit and take out insurance, in order to keep reoffending rates down, a report says. Exclusion from such services prevents many ex-offenders from finding work and securing a home according to the Prison Reform Trust. Life without an account or insurance was a “second [...]
October 27, 2010
Tags: banks, borrowing, Credit Crunch, loan sharks, sub prime loans Posted in: Uncategorized One Comment
5,000 hit by fraud on loan firm Help Loan- MCO Capital
At least 5,000 people are being pursued by debt collectors working on behalf of a payday loan firm, for sums they did not borrow in the first place.Police believe fraudsters managed to get loans paid out by Help Loan using personal details of innocent Britons. Help Loan only started trading in the UK this summer. [...]
October 26, 2010
Tags: borrowing, Credit Crunch, payday loans, sub prime loans Posted in: Uncategorized One Comment
Credit cards limit on interest rates may be planned
A limit on excessive interest rates charged on credit and store cards is being considered as part of a review of consumer borrowing. The government wants experts’ views on how consumer credit, such as credit cards and store cards, can be fairer. This includes discussion on whether the regulator will be able to put a [...]
October 25, 2010
Tags: Bank of England, consolidate debt loans, credit cards, Credit Crunch, Interest Rates, Loan calculator, UK loans rates Posted in: Uncategorized One Comment
Banks accused of restricting lending with too few loans at too high a price
UK Banks stand accused by the government of providing too few loans at too high a cost to small businesses in the UK since the 2008 financial crisis. But banks claim that the fall off in lending is not their fault and has happened because small businesses are choosing to borrow less in response to [...]
October 22, 2010
Tags: borrowing, business loans, commercial finance, Credit Crunch, Interest Rates, Lenders, sub prime loans Posted in: Uncategorized One Comment
Bank Levy- new spending review details
Draft legislation for a new levy on bank balance sheets has been published by the government. The levy will apply to the global balance sheets of UK banks and the UK operations of banks from other countries and will be introduced in January 2011, the Treasury said. From 2012, it is expected to raise about [...]
October 21, 2010
Tags: banks, borrowing, Conservatives, Credit Crunch, loans Posted in: Uncategorized No Comments
UK banks propose £1.5bn fund for small businesses
UK banks have proposed creating a £1.5bn fund to invest in small businesses, following government criticism of weak lending. The “business growth fund” is a key proposal in a report to the Treasury. Loans Calculators understand that the fund would invest the money – equivalent to about 0.1% of the UK economy’s annual output – [...]
October 20, 2010
Tags: business loans, commercial finance, Loan calculator, loans Posted in: Uncategorized One Comment
Loans payment protection insurance (PPI) sale curbs approved
Banks will no longer be able to sell payment protection insurance policies when granting loans to customers, the Competition Commission has confirmed. This “point of sale” ban was first proposed last year after a long investigation, but was held up by a challenge by Barclays bank. PPI is supposed to cover borrowers’ loan repayments if [...]
October 19, 2010
Tags: banks, borrowing, consolidate debt loans, Loan calculator, quangos Posted in: Uncategorized One Comment
PPI claims to be delayed by banks
Hundreds of thousands of claims for compensation for mis-sold loan insurance will be put on hold for months until a legal wrangle is over. Banks will delay old claims relating to the sale of payment protection insurance (PPI), the British Bankers’ Association has announced. These cases will only be completed at the conclusion of a [...]
October 18, 2010
Tags: banks, borrowing, customer service, Interest Rates, sub prime loans Posted in: Uncategorized 3 Comments
