Archive for January, 2012
Bank of Dad and Mum keeps subsidising youngsters
Bank of Dad and Mum keeps lending to children.Tradition has it that the keys to the family home are handed over to a young man or woman when they reach the age of 21. But the tradition has become obsolete. Nowadays, it may be more appropriate for sons and daughters to give the keys to [...]
January 30, 2012
Tags: bank lending, banks, borrowing, Credit Crunch, Loan calculator, personal loans, refinancing rates, sub prime loans, uk recession Posted in: Bankers, Borrowing Costs, Credit Crunch, Finance, Home Loans, Lenders, Sub Prime Loans, Uncategorized 
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Cooperative Bank named as preferred buyer of Lloyds branches
Lloyds says its preferred option for the sale of 632 bank branches is to sell them to the Co-operative Group.The mutually-owned Co-operative Bank had been in competition with new bank venture NBNK for the assets. Lloyds will now enter exclusive talks with the Co-op, which runs a financial services division along with a supermarket retail [...]
January 27, 2012
Tags: bad debts, bankers, Bankrupcy, banks, borrowing, Loan calculator, nationalisation, recession, refinancing rates Posted in: Bank Lending, Bankers, Bankrupcy, Banks, Credit Crunch, Financial Services, Lenders, Loans Calculators, Uncategorized, nationalisation No Comments
Credit union reforms introduced to help borrowers
New rules have come into force which will free up credit unions to compete more effectively with banks.The changes, under a Legislative Reform Order (LRO), mean the financial co-operatives can now pay interest on savings for the first time and expand beyond their traditional customer base. Credit unions are not-for-profit organisations owned by their members. [...]
January 25, 2012
Tags: borrowing, Credit Crunch, home loans, Lenders, UK loans rates Posted in: Borrowing Costs, Credit Crunch, Finance, Interest Rates, Lenders, Uncategorized No Comments
Lender loses personal details of 1.4 million borrowers
Some 1.4 million borrowers have been receiving letters informing them that their personal details have been lost.The names, addresses and payment histories of 600,000 clients of Welcome Financial Services Limited and Shopacheck were lost, along with the names and addresses of another 800,000. The Cattles Group, the parent company of both brands, has apologised. Two [...]
January 23, 2012
Tags: bank lending, bankers, Debt Consolidation, debt management plans, Loan calculator, sub prime loans Posted in: Bank Lending, Debt Management, Lenders, Loans Calculators, Sub Prime Loans, Uncategorized No Comments
The financial cost of divorce
January is commonly acknowledged as the busiest month for those starting divorce proceedings- but as well as emotional there are financial costs of a divorce.Following an the festive period with extended family and in-laws, it is the time of year when couples with marriage difficulties decide to make a fresh start. It may also be [...]
January 20, 2012
Tags: Bankrupcy, borrowing, Credit Crunch, Loan calculator, personal loans Posted in: Bankrupcy, Borrowing Costs, Credit Crunch, Finance, Home Loans, Loans Calculators, Uncategorized No Comments
Debt experts issue help delay warning
Debt experts are warning people not to delay seeking help if Christmas has tipped them into unmanageable debt.The Insolvency Service of England and Wales is highlighting the difficult financial situation facing some young people. It says more are turning to a new form of bankruptcy called a Debt Relief Order (DRO) to protect themselves from [...]
January 18, 2012
Tags: bad debts, consolidate debt loans, Credit Crunch, deb, Debt Consolidation, debt management plans, Interest Rates, Loan calculator, sub prime loans Posted in: Credit Cards, Credit Crunch, Debt Consolidation, Debt Management, Lenders, Loans Calculators, Sub Prime Loans, Uncategorized No Comments
Payday loans lenders face OFT penalties
Action is being taken against payday lenders who flouted rules on online advertising in the run up to Christmas.The Office of Fair Trading (OFT) found some were not checking whether customers could afford to borrow or outlining charges for going into arrears. A number were unclear about the loan terms and failed to explain the [...]
January 16, 2012
Tags: bad debts, bank lending, borrowing, consolidate debt loans, Credit Crunch, Debt Consolidation, debt management plans, sub prime loans, UK loans rates Posted in: Borrowing Costs, Credit Crunch, Debt Consolidation, Debt Management, Finance, Interest Rates, Lenders, Online Banking, Payday Loans, Sub Prime Loans, UK Loans Rates, Uncategorized No Comments
RBS failures caused by poor decisions, says FSA
The Royal Bank of Scotland (RBS) nearly collapsed in 2008 because of poor management decisions, inadequate regulation and a flawed supervisory system, a Financial Services Authority report says.The FSA admits that its own supervision was “flawed” and “provided insufficient challenge” to RBS. And it says RBS had too weak a capital position to proceed with [...]
January 13, 2012
Tags: bad debts, bank lending, bankers, Bankrupcy, Credit Crunch, Loan calculator, nationalisation, sub prime loans, UK loans rates Posted in: Bankers, Bankrupcy, Banks, Finance, Sub Prime Loans, Uncategorized, nationalisation No Comments
Christmas will push third of UK into debt warns YouGov
Almost one in three people in the UK will go into debt over the Christmas period according to a YouGov survey.The survey of 2,015 adults suggests 11% of Britons will lose track of spending, with 31% going into some form of debt to fund Christmas related costs. Of these, it suggests 58% will rely more [...]
January 11, 2012
Tags: bad debts, banks, borrowing, Credit Crunch, Debt Consolidation, debt management plans, Loan calculator, sub prime loans, UK loans rates Posted in: Bank Lending, Borrowing Costs, Credit Crunch, Debt Management, Lenders, Loans Calculators, Sub Prime Loans, UK Loans Rates, Uncategorized No Comments
Somerset debt firm goes bust and director arrested
A Somerset based debt management company went bust leaving its clients owed about £600,000 and a 42 year-old man has been arrested.More than 80 people had given the money to DebtDr so it could arrange full and final settlements with their creditors. Avon and Somerset Constabulary said a man was arrested on suspicion of fraud [...]
January 9, 2012
Tags: Credit Crunch, Debt Consolidation, debt management plans, Loan calculator, sub prime loans Posted in: Debt Consolidation, Debt Management, Finance, Financial Services, Independent Finance, Loans Calculators, Uncategorized No Comments
