Archive for the ‘Borrowing Costs’ Category
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 
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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
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
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
Barclays Bank basic current account customers face fee rise
Basic current account holders at Barclays Bank face more frequent charges if they fail to keep sufficient funds in their accounts.Basic accounts, often opened by those with a chequered credit history, do not offer cheque books or overdrafts. At present, there is a maximum charge of £8 a day if direct debit or standing order [...]
January 5, 2012
Tags: bank lending, bankers, finances, Loan calculator, personal loans, sub prime loans Posted in: Bankers, Banks, Borrowing Costs, Credit Crunch, Finance, Lenders, Loans Calculators, Uncategorized No Comments
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 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
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 interest rates remain on hold at record low of 0.5%
UK interest rates have been held at a record low of 0.5% by the Bank of England’s Monetary Policy Committee.Bank of England UK interest rates have now been held at 0.5% for more than two and a half years Worries about the strength of the economic recovery meant that economists had expected rates to remain [...]
November 24, 2011
Tags: bank lending, Bank of England, Credit Crunch, Interest Rates, UK loans rates, uk recession Posted in: Bank of England, Borrowing Costs, Credit Crunch, Interest Rates, UK Loans Rates, Uncategorized No Comments
Office of Fair Trading may shut Yes Loans
The Office of Fair Trading (OFT) is taking steps to close down a company which claims to process thousands of loan applications a week.The OFT will not say why it is “minded to revoke” its licence. An independent OFT adjudicator will make the final decision, which is subject to appeal. The company says it is [...]
November 9, 2011
Tags: bank lending, bankers, banks, borrowing, Credit Crunch, Loan calculator, personal loans, sub prime loans Posted in: Bank Lending, Bankers, Borrowing Costs, Credit Crunch, Lenders, Loans Calculators, Loans Rates, Sub Prime Loans, UK Loans Rates, Uncategorized No Comments
