Archive for February, 2011
Lloyds banking group sees complaints rise
Lloyds Banking Group, the UK’s largest nationalised bank, has said its customer complaints rose by 14% in the second half of 2010. Lloyds, which runs the Halifax and Bank of Scotland, received 330,000 complaints in the last six months of last year. The bank said the increase was due to the continued upsurge in complaints [...]
February 28, 2011
Tags: banks, borrowing, Credit Crunch, Interest Rates, Loan calculator, nationalisation, UK loans rates Posted in: Borrowing Costs, Credit Crunch, Lenders, Loans Calculators, Uncategorized, nationalisation 
2 Comments
Another Bank of England member wants loans interest rate rise
Another member of the Bank of England’s loans interest rate setting committee says the central bank should start raising rates now to avoid a sharp rise later. “It would protect us from a squeeze later on, needed to get people’s inflation expectations back towards the 2% target,” Martin Weale said. The Monetary Policy Committee (MPC) [...]
February 25, 2011
Tags: Bank of England, inflation, Interest Rates, Loan calculator, loans rates, MPC, UK loans rates, uk recession Posted in: Bank of England, Borrowing Costs, Credit Crunch, Interest Rates, Lenders, Loans Calculators, Uncategorized, inflation 2 Comments
Loans lenders make profits from borrowers to pay for bank crash losses
Credit card charges are at their highest rates for 13 years, margins on loans are at an all time high and interest rates paid on savings is at an all-time low – all helping the major banks to bolster the profitability of their high-street banking businesses. Last week Barclays reported a 39% rise in profits [...]
February 24, 2011
Tags: bank lending, banks, borrowing, credit cards, Credit Crunch, Interest Rates, Lenders Posted in: Borrowing Costs, Credit Cards, Credit Crunch, Interest Rates, Lenders, Loans Calculators, Uncategorized No Comments
Gambling debt problems on the increase in Britain
Nearly three quarters of Britons engaged in gambling last year, an official survey has concluded- with more people getting into debt. The survey of 7,756 people done for the Gambling Commission found the amount of betting has increased to levels last seen in the late 1990s. The proportion of what the regulator calls “problem gamblers” [...]
February 23, 2011
Tags: bad debts, Credit Crunch, debt management plans, Loan calculator, sub prime loans Posted in: Borrowing Costs, Credit Cards, Credit Crunch, Lenders, Loans Calculators, Uncategorized No Comments
Banks trying to hide chip and pin flaw
A Cambridge University professor has accused the bank cards industry of making a ”very nasty attempt at censorship” over a flaw in chip and PIN technology. Instead of trying to solve the problem, the UK Cards Association (UKCA), which represents the country’s biggest banks, wrote to the university to try to remove the online publication [...]
February 22, 2011
Tags: banks, credit cards, Credit Crunch, Lenders, Loan calculator Posted in: Credit Cards, Debt Management, Lenders, Loans Calculators, Uncategorized No Comments
Barclays reports annual profits of £6.07bn
Barclays Bank has reported pre-tax profits of £6.07 billion for the full-year 2010, slightly higher than analysts were expecting. This was a rise of almost a third on the £4.59 billion profit the bank made in 2009, Barclays said. Money put aside for bad loans fell 30% against a year earlier, to £5.67 billion. Group [...]
February 21, 2011
Tags: bank lending, banks, Lenders, Loan calculator, loans rates, personal loans Posted in: Borrowing Costs, Credit Crunch, Debt Management, Interest Rates, Lenders, Loans Calculators, Uncategorized No Comments
Business bankrupcies fall in England and Wales
The number of companies going bust in England and Wales fell sharply in 2010 as the economy recovered from recession. There were 4,905 receiverships, administrations or company voluntary arrangements last year. That was 23% fewer than in 2009, which was a record year for company insolvencies. The number of firms that were liquidated – the [...]
February 18, 2011
Tags: Bankrupcy, Credit Crunch, debt management plans, recession, refinancing rates, sub prime loans Posted in: Bankrupcy, Credit Crunch, Lenders, Loans Calculators, Uncategorized No Comments
Bank bonuses are offensive says Vince Cable
“Enormous” bank bonuses are expected to be announced in the next few weeks and are “offensive” according to the Business Secretary Vince Cable. Barclays were be the first UK bank to reveal its 2010 bonus pool, alongside its results. It wgave even bigger share of revenues to its investment bankers. Although individual bonuses at Barclays [...]
February 17, 2011
Tags: bank lending, banks, Credit Crunch, finances, Lenders, Loan calculator, nationalisation Posted in: Borrowing Costs, Credit Crunch, Lenders, Loans Calculators, Uncategorized One Comment
IMF downplayed economic risks ahead of 2008 crisis official report finds
An investigation into the International Monetary Fund (IMF) has said that the agency downplayed the UK’s economic risks ahead of the 2008 financial crisis. The organisation provided few clear warnings about the risks, the study found. The IMF’s ability to identify risks was hindered by “group think” and a belief that a crisis in developed [...]
February 16, 2011
Tags: bank lending, Credit Crunch, IMF, Lenders, sovereign debt, sub prime loans Posted in: Borrowing Costs, Credit Crunch, Debt Management, Lenders, Loans Calculators, Sovereign Debt 2 Comments
Government to increase UK bank levy to £2.5 billion
The government says it will increase the levy on banks to £2.5 billion this year – raising an extra £800 million. Chancellor George Osborne said the tax was being brought forward before banks announced their bonus payments. A deal with banks to increase business loans and limit bonus payments has not yet been finalised after [...]
February 15, 2011
Tags: banks, borrowing, Credit Crunch, Loan calculator, loans rates, UK loans rates Posted in: Bankrupcy, Borrowing Costs, Credit Crunch, Lenders, Loans Calculators, Uncategorized 5 Comments
