Websites offering loans flout EU credit rules
A number of websites across the EU that offer credit cards, loans and finance found that 70% were flouting the rules.Authorities across 29 member countries checked 562 websites, including some they were already worried about, and found that 393 failed the checks. The most common issue was the absence of an annual percentage rate (APR) [...]
February 15, 2012
Tags: bank lending, borrowing, Interest Rates, Loan calculator, UK loans rates Posted in: Borrowing Costs, Finance, Interest Rates, Loans Calculators, Loans Rates, Online Banking, Uncategorized 
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Consumers still looking to cut debts say bankers
People are continuing to pay down their debts- despite High Street stores offering discounts to tempt shoppers, according to figures from the British Bankers’ Association (BBA).Retail sales grew last year but there was little demand for loans and overdrafts, the BBA said. Credit card borrowing slightly increased, but mainly as a result of the interest [...]
February 10, 2012
Tags: bank lending, bankers, Credit Crunch, Debt Consolidation, home loans, Loan calculator, sub prime loans Posted in: Bank Lending, Bankers, Business Finance, Credit Crunch, Finance, Lenders, Loans Calculators, Uncategorized No Comments
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 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
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
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
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 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
