Co-op confirms second round bid for Lloyds’ branches
The Co-operative Group has confirmed it will submit a second round bid next week for the hundreds of branches being sold by Lloyds Banking Group.Lloyds is selling 632 branches and £36 billion of deposits, after being ordered to by the European Commission following the bank’s rescue by the UK government. The government currently still holds [...]
November 14, 2011
Tags: bad debts, bank lending, bankers, banks, Credit Crunch, Loan calculator, nationalisation Posted in: Bank Lending, Bankers, Banks, Financial Services, Lenders, Loans Calculators, Uncategorized, nationalisation 
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Bank lending warning from Treasury Committee
New rules on banks are making it more difficult for them to lend, according to the chairman of the UK’s Treasury Committee, Andrew Tyrie.Mr Tyrie has written to the Bank of England and Financial Services Authority asking them to investigate the impact of the new regulations. Mr Tyrie warned that the eurozone crisis was already [...]
October 26, 2011
Tags: bad debts, bank lending, Bank of England, bankers, borrowing, Credit Crunch, refinancing rates Posted in: Bank Lending, Bank of England, Bankers, Banks, Business Finance, Credit Crunch, Financial Services, Loans Calculators, Uncategorized No Comments
Debt collectors target Facebook to reclaim money owed
Debt collectors are increasingly using social networking sites like Facebook to target debtors.The Office of Fair Trading is warning debt collectors not to pursue people who owe them money on social networking sites such as Twitter and Facebook. It is concerned that embarrassing details about their financial problems will be revealed on the internet. The [...]
October 24, 2011
Tags: bad debts, bankers, borrowing, consolidate debt loans, Credit Crunch, debt management plans Posted in: Bank Lending, Bankers, Borrowing Costs, Debt Consolidation, Debt Management, Finance, Home Loans, Lenders, Loans Calculators, Sub Prime Loans, Uncategorized No Comments
Goldman Sachs reports £245 million loss on eurozone impact
Goldman Sachs has reported a quarterly loss, after its trading was “significantly impacted” by the debt crisis in the eurozone and the wider global economic uncertainty.The US bank made a net loss of £245 million for the third quarter of 2011. A year earlier, it made a whopping £1.18 billion profits. Goldman’s group-wide revenues fell [...]
October 21, 2011
Tags: bad debts, bank lending, bankers, Credit Crunch, euro, Loan calculator, sub prime loans, US loans rates Posted in: Bank Lending, Bankers, Banks, Business Finance, Credit Crunch, Financial Services, Gold, Uncategorized No Comments
Trading Standards confiscates cash after complaints from loan firm
Trading Standards is taking consultancy payments from a firm which is also the subject of customer complaints.West Yorkshire Trading Standards (WYTS) received payments from online loans broker SGE Loans in exchange for regulatory advice. But some customers claim that SGE Loans has debited their bank accounts without consent – a claim SGE Loans denies. WYTS [...]
October 10, 2011
Tags: bad debts, borrowing, consolidate debt loans, Credit Crunch, finances, Interest Rates, Loan calculator, loans, refinancing rates, sub prime loans Posted in: Borrowing Costs, Business Finance, Credit Crunch, Debt Management, Finance, Financial Services, Lenders, Loans Calculators, UK Loans Rates, Uncategorized No Comments
Debt management firms closed down by finance watchdog
The Office of Fair Trading has cancelled the licences of 62 debt management firms in the past year, after a crackdown on rogue operators.Some fee charging firms have been criticised for misleading customers about their charges and for giving incompetent advice. Others have been told to stop cold calling customers, or stop pretending to be [...]
October 5, 2011
Tags: bad debts, bank lending, bankers, consolidate debt loans, Debt Consolidation, debt management plans, finances, Loan calculator, Office Fair Trading, sub prime loans, UK loans rates Posted in: Borrowing Costs, Business Finance, Credit Crunch, Debt Consolidation, Debt Management, Finance, Financial Services, Lenders, Loans Calculators, Loans Rates, Online Banking, UK Loans Rates, Uncategorized No Comments
Increase in unemployed graduates survey finds
Almost 28% of UK graduates who left university in 2007 were still not in full time work three and a half years later, figures have suggested.The figure, based on 49,065 graduate responses, includes about 21 % who were working part-time or studying and 3.5% who gave their response as “other”. However, the Higher Education Statistics [...]
September 16, 2011
Tags: bad debts, borrowing, Credit Crunch, student loans, unemployment Posted in: Borrowing Costs, Business Finance, Credit Crunch, Financial Services, Lenders, Uncategorized No Comments
Pocket money up after seven years bank finds
Pocket money for children has risen for the first time in eight years but only by 36 pence a week, the Halifax has found.The bank’s annual survey suggests that the average amount received by eight to 15-year-olds now averages £6.25 a week. That meant a 6% increase in the past year, but it was still [...]
September 9, 2011
Tags: bad debts, Credit Crunch, debt management plans, finances, recession, uk recession Posted in: Credit Crunch, Finance, Financial Services, Uncategorized No Comments
Bank’s profits hit by Greek debt writedown
Commerzbank, Germany’s second largest bank, has seen its second quarter profits all but wiped out by a £676 million writedown of its Greek debt.Second-quarter net profit fell by 93% from the same period a year ago to £20 million after the debt revaluation. The move reflects acceptance among lenders to Greece that they will not [...]
September 1, 2011
Tags: bad debts, bank lending, bankers, Bankrupcy, borrowing, Credit Crunch, debt management plans, recession Posted in: Bankers, Banks, Business Finance, Credit Crunch, Debt Management, Finance, Lenders, Loans Calculators, Loans Rates, Uncategorized, nationalisation No Comments
Clydesdale and Yorkshire banks focus on bad debts
The Clydesdale and Yorkshire banks have warned that the credit crunch is making bad and doubtful debts a key focus.A trading update from the lenders said UK operations would retain a “conservative and prudent” approach in response to renewed economic turmoil. They also said they had achieved a two year target for gross lending of [...]
August 30, 2011
Tags: bad debts, bank lending, bankers, banks, consolidate debt loans, Credit Crunch, Loan calculator, UK loans rates Posted in: Bankers, Banks, Credit Crunch, Financial Services, Lenders, Loans Calculators, UK Loans Rates, Uncategorized No Comments
