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 
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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
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
Taxman to make money from Payment Protection Insurance (PPI)
Millions of people are facing an unexpected tax bill on their Payment Protection Insurance (PPI) claims payouts.The banking industry has set aside £6 billion to pay for the mis-selling of PPI. Customers were awarded compensation plus interest of 8% by the Financial Services Authority on the money they originally spent on PPI. This interest will [...]
November 29, 2011
Tags: bankers, banks, borrowing, Credit Crunch, Interest Rates, refinancing rates Posted in: Bankers, Banks, Credit Crunch, Financial Services, Lenders, Uncategorized No Comments
Lloyds makes a £3.9 billion loss after PPI settlements
Lloyds Banking Group has reported a £3.9 billion loss for the first nine months of 2011, mainly due to the cost of settling claims for mis-selling payment protection insurance (PPI).The pre-tax loss for the period ending 30 September compares with a profit of £2 billion a year earlier. Lloyds said that during the nine months [...]
November 22, 2011
Tags: bad debts, bank lending, bankers, Bankrupcy, banks, borrowing, debt management plans, Loan calculator, nationalisation Posted in: Bank Lending, Bankers, Banks, Business Finance, Credit Crunch, Uncategorized, nationalisation No Comments
Private bank Coutts fined £6.3 million by the FSA
Private bank Coutts has been fined £6.3 million by City watchdog the FSA for the way it sold investments to clients.The fine surrounds the sale of bonds issued by US insurance company AIG and described as low-risk to 427 well-off customers, who invested £1.45 billion. However, the investments were caught up in the uncertainty of [...]
November 17, 2011
Tags: bank lending, bankers, banks, Credit Crunch, debt management plans, Loan calculator Posted in: Bank Lending, Bankers, Banks, Credit Crunch, Financial Services, Uncategorized No Comments
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 No Comments
Business forced to look for finance away from banks
Businesses are having to become more creative with finance raising as the banks are limiting funding.Even existing business are met with tight lending conditions when trying to secure loans or overdrafts – in spite of the government’s efforts to help. Project Merlin is one of the government’s magic wands designed to make banks lend more [...]
November 11, 2011
Tags: bank lending, banks, business finance, business loans, Credit Crunch, finances, sub prime loans Posted in: Bank Lending, Business Finance, Credit Crunch, Finance, Financial Services, Lenders, Loans Calculators, 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
