Archive for May, 2011
Bank of Scotland fined over customer complaints errors by regulator
Bank of Scotland customers are expected to receive £17 million in compensation following mishandling of complaints about investment products. The Financial Services Authority (FSA) has fined the bank £3.5 million after it rejected many complaints when the complaints should have been upheld. Policies were often sold to older customers with little investment knowledge. The bank [...]
May 31, 2011
Tags: bankers, banks, debt management plans, falling interest rates, Lenders Posted in: Bankers, Banks, Borrowing Costs, Lenders, Loans Calculators, Uncategorized, nationalisation 
One Comment
UK public borrowing higher than expected in April
The UK had it’s worst April public sector net borrowing on record last month as tax receipts fell, the Office for National Statistics said. Public borrowing, excluding financial interventions such as bank bail-outs, hit £10 billion, compared with £7.3 billion the previous year. The ONS said tax receipts in April last year were boosted by [...]
May 27, 2011
Tags: banks, borrowing, Credit Crunch, refinancing rates, sovereign debt, uk recession Posted in: Borrowing Costs, Credit Crunch, Debt Management, Lenders, Loans Calculators, Sovereign Debt, Uncategorized No Comments
Business Secretary warns banks to increase lending
Business Secretary Vince Cable says he wants a significant improvement after official data showed UK banks are behind track in their lending to smaller firms. Bank of England figures show that in the first three months of 2011 the top five UK banks loaned £16.8 billion to small and medium sized (SMEs) companies. Under a [...]
May 25, 2011
Tags: bank lending, banks, borrowing, business finance, business loans, Credit Crunch, finances, Loan calculator, loans Posted in: Bank of England, Bankers, Banks, Business Finance, Credit Crunch, Debt Management, Lenders, Loans Calculators, Uncategorized 2 Comments
Bank of England policymakers remain split on loans interest rates
The Bank of England’s policymakers voted six to three in favour of keeping loans interest rates on hold at a record low of 0.5% this month the minutes of the Monetary Policy Committee’s (MPC) May meeting show. It is the fourth month in a row that three members have voted for a rise as the [...]
May 23, 2011
Tags: Bank of England, Credit Crunch, Interest Rates, Loan calculator, UK loans rates Posted in: Bank of England, Credit Crunch, Interest Rates, Loans Calculators, Uncategorized, inflation One Comment
Sir Fred Goodwin obtained super injunction to hide alleged affair with senior colleague
Sir Fred Goodwin- “Fred the Shred”- the former chief executive of the nationalised Royal Bank of Scotland, obtained a super injunction to hide details of an alleged affair with a senior colleague, it has been disclosed on the floor of the House of Lords. Details of the draconian injunction – so strict that it prevents [...]
May 19, 2011
Tags: bankers, banks, Loan calculator, loans, nationalisation Posted in: Bankers, Banks, Lenders, Uncategorized, nationalisation No Comments
Quarter of households predicted to turn off heating to save money
Soaring fuel bills may force a quarter of homes to turn off their heating at some point next winter to save money. The Bank of England said this week that gas prices could rise by 15% later this year, and electricity by 10%. Uswitch said that a survey of almost 1,600 of its customers carried [...]
May 18, 2011
Tags: Credit Crunch, debt management plans, finances, recession, sub prime loans Posted in: Borrowing Costs, Credit Crunch, Debt Management, Loans Calculators, Uncategorized One Comment
How to claim your PPI compensation
Three million people are in line to receive compensation after high street banks surrendered in the long battle over mis-sold payment protection insurance (PPI). Credit card and loan providers and the four main banks – Lloyds-HBOS, HSBC, Barclays and RBS – are expected to pay out up to £9 billion compensation for PPI, making it [...]
May 16, 2011
Tags: banks, borrowing, Credit Crunch, Loan calculator, loans, personal loans Posted in: Bankers, Banks, Borrowing Costs, Credit Crunch, Debt Consolidation, Debt Management, Interest Rates, Lenders, Uncategorized No Comments
Bankers still considering appeal on PPI
Senior banking executives are meeting to discuss appealing a ruling over Payment Protection Insurance (PPI).Last week, the High Court ruled that banks had wrongfully sold PPI to millions and that they are now obliged to refund all affected customers. Lloyds, the biggest seller of PPI, said that it would repay all customers missold such policies, [...]
May 13, 2011
Tags: bankers, Bankrupcy, banks, Lenders, Loan calculator, loans Posted in: Bankers, Banks, Credit Crunch, Lenders, Loans Calculators, Uncategorized No Comments
Lloyds Banking Group reports £3 billion cost of PPI provision
Lloyds Banking Group has announced a first quarter loss, after making a £3.2 billion provision for mis-selling claims by customers who took out payment protection insurance (PPI). Lloyds reported a loss of £3.47 billion for the first three months of the year. It made a £721 million profit a year ago. It also took a [...]
May 11, 2011
Tags: bank lending, banks, borrowing, Lenders, Loan calculator, loans Posted in: Bankers, Banks, Borrowing Costs, Independent Finance, Interest Rates, Lenders, Loans Calculators, Uncategorized One Comment
Barclays Bank first quarter profit falls by 9%
Barclays Bank has reported a 9% fall in pre-tax profits for the first three months of the year to £1.66 billion. The fall was largely due to a drop in profits from corporate and investment banking, which were down by 29% at £983 million compared with a year ago. However, profits at its retail and [...]
May 9, 2011
Tags: bank lending, banks, Credit Crunch, Lenders, Loan calculator, loans Posted in: Bankers, Banks, Credit Crunch, Lenders, Loans Calculators, Uncategorized No Comments
