Archive for December, 2011
Millions turn to payday loans claim insolvency experts
Millions of Britons are likely to take out a high interest loans in the next six months to last them until payday a group of insolvency experts claims.R3, which represents “professionals working with financially troubled individuals and businesses”, bases its claim on interviews with 2,000 people. Some 60% of those surveyed worried about their level [...]
December 29, 2011
Tags: bankers, borrowing, Credit Crunch, debt management plans, refinancing rates, sub prime loans, uk recession Posted in: Bankers, Borrowing Costs, Credit Crunch, Debt Management, Finance, Interest Rates, Loans Calculators, Payday Loans, Sub Prime Loans, Uncategorized 
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One in four households face fuel poverty warns Consumer Focus
The proportion of homes in fuel poverty in England and Wales has risen from 18% to 24% in two years estimates suggest.Consumer Focus calculated that nearly 5.7 million households are in fuel poverty – when more than 10% of their disposable income is spent on fuel. The watchdog said the issue was particularly acute in [...]
December 22, 2011
Tags: bad debts, borrowing, finances, Loan calculator, recession, uk recession Posted in: Credit Crunch, Debt Management, Finance, Loans Calculators, Uncategorized No Comments
UK banks charging as much as 800,000% on overdrafts
Some High Street banks are charging “eye watering” rates of interest when their customers go over their overdraft limit.A customer borrowing £100 for 28 days without the consent of Santander would repay £200, for example. That is the equivalent annualised percentage rate, or APR, of 819,100%. Comparisons between banks and so-called payday lenders showed that [...]
December 20, 2011
Tags: bank lending, bankers, borrowing, Credit Crunch, Interest Rates, payday loans, UK loans rates Posted in: Bank Lending, Banks, Borrowing Costs, Finance, Lenders, Loans Calculators, Loans Rates, Payday Loans, Sub Prime Loans, UK Loans Rates, Uncategorized No Comments
Bank of England governor Sir Mervyn King warns of hard times ahead
UK economic growth will be “flat or close to zero” over the next six months Bank of England governor Sir Mervyn King has told MPs.He told the Treasury Select Committee: “The outlook for output growth in the near term is considerably weaker than even three months ago.” Sir Mervyn’s comments came on the day that [...]
December 15, 2011
Tags: Bank of England, bankers, Credit Crunch, Mervyn King, Quantitative Easing, uk recession Posted in: Bank of England, Bankers, Credit Crunch, Interest Rates, Lenders, Quantitative Easing, Sovereign Debt, Uncategorized No Comments
UK borrowing forecasts raised in Autumn Statement
Forecasts for UK government borrowing have been increased when the chancellor announced his Autumn Statement.He said borrowing would be £5 billion more this year than originally forecast, £19 billion higher next year and £30 billion higher in 2013-14. The increases are a result of the reduction in the expected level of growth in the economy. [...]
December 13, 2011
Tags: bank lending, bankers, borrowing, consolidate debt loans, Credit Crunch, debt management plans, Quantitative Easing, sovereign debt Posted in: Bank Lending, Borrowing Costs, Credit Crunch, Debt Consolidation, Debt Management, Finance, Loans Calculators, Quantitative Easing, Sovereign Debt, UK Loans Rates, Uncategorized No Comments
UK recovery to take five years warns Bank of England Member
The UK economy will take five and a half years to recover to its pre-recession level a Bank of England Monetary Policy Committee member warns.Martin Weale called the recovery “unusually slow” and signalled more quantitative easing – creating money to buy government debt – may be coming. In a speech, he said the downturn is [...]
December 9, 2011
Tags: bank lending, Bank of England, bankers, banks, Credit Crunch, debt management plans, Loan calculator, Quantitative Easing, recession Posted in: Bank Lending, Bank of England, Bankers, Credit Crunch, Debt Management, Finance, Lenders, Loans Calculators, Quantitative Easing, Uncategorized No Comments
Smallest businesses need more support warn MPs
Britain’s smallest businesses should be treated differently from other small and medium sized firms warn a group of MPs.The very smallest companies are the UK’s job creators, but many are stifled by red tape and regulations aimed at much bigger companies, they said. The All Party Group for Micro Businesses said the definition of a [...]
December 7, 2011
Tags: banks, borrowing, business finance, business loans, Credit Crunch, finances, recession, sub prime loans Posted in: Bank Lending, Bankers, Banks, Business Finance, Credit Crunch, Finance, Financial Services, Lenders, Uncategorized No Comments
More people in energy poverty with fuel bill debts
The number of people with energy debts has risen by a quarter for electricity and a fifth for gas, it has emerged.The latest figures suggest 1.5m people are in debt in UK. The figures, from spring 2011, include 850,000 electricity customers and 700,000 gas consumers. Campaign group Consumer Focus and charity Citizen’s Advice say energy [...]
December 5, 2011
Tags: borrowing, consolidate debt loans, Credit Crunch, debt management plans, recession, sub prime loans Posted in: Bankrupcy, Credit Crunch, Debt Consolidation, Debt Management, Finance, Loans Calculators, Sub Prime Loans, UK Loans Rates, Uncategorized No Comments
Cheque guarantee cards could return
The abolition of cheque guarantee cards is being reviewed and could lead to a welcome return of the scheme.The system, which ensured that some cheques up to £50 or £100 were honoured, ended at the end of June- to save the bank’s money. But the Payments Council, which oversees payments strategy, said it was looking [...]
December 1, 2011
Tags: bankers, banks, business finance, finances, Loan calculator, refinancing rates Posted in: Bankers, Banks, Business Finance, Finance, Financial Services, Loans Calculators, Uncategorized No Comments
