Bank of Scotland fined over customer complaints errors by regulator
Bank of Scotland customers are expected to receive £17 million in compensation following mishandling of complaints about investment products. The Financial Services Authority (FSA) has fined the bank £3.5 million after it rejected many complaints when the complaints should have been upheld. Policies were often sold to older customers with little investment knowledge. The bank [...]
May 31, 2011
Tags: bankers, banks, debt management plans, falling interest rates, Lenders Posted in: Bankers, Banks, Borrowing Costs, Lenders, Loans Calculators, Uncategorized, nationalisation 
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UK workers’ take home pay down 5% in real terms since 2009
The average employee takes home £1,088 a year less than two years ago when the sum is adjusted for inflation research finds.The sharp drop, in real terms, highlights the effect of stagnant wages and above-target inflation on incomes. The average British worker earned £20,149 at the start of 2011 – a real terms fall of [...]
March 25, 2011
Tags: Credit Crunch, falling interest rates, inflation, Loan calculator, refinancing rates, uk recession Posted in: Credit Crunch, Debt Consolidation, Loans Calculators, Uncategorized No Comments
Demand for loans and borrowing remains weak- Bank of England
The demand for loans and borrowing among consumers remained weak in September, according to figures from the Bank of England.Borrowing through personal loans and credit cards rose slightly in September but consumers remained cautious. Known as consumer credit, this figure was up £262m in September. In recent months consumers have adopted a safety-first approach to [...]
November 2, 2010
Tags: Bank of England, borrowing, credit cards, Credit Crunch, falling interest rates, sub prime loans Posted in: Uncategorized 2 Comments
UK economy to pick up in near term if interest rates kept low
The British Chambers of Commerce (BCC) has upgraded its forecast for the UK’s short term economic prospects, but said interest rates must be kept low to aid recovery. And it warned the pace of growth may slow sharply when the impact of “tough” government measures kick in. The business group expects gross domestic product (GDP) [...]
August 31, 2010
Tags: falling interest rates, Interest Rates, UK loans rates, uk recession Posted in: Uncategorized One Comment
Households continue to pay off debts, according to the BBA
The low interest rate environment is resulting in customers choosing to reduce or pay off borrowing, particularly personal loans- rather than saving. As a result a total of 36,709 home loans were approved by the major banks during the May. Re-mortgaging accounted for the lion’s share of loan approvals with 24,626 taking out new or [...]
July 2, 2010
Tags: borrowing, falling interest rates, Interest Rates, Loan calculator Posted in: Uncategorized No Comments
UK borrowing hits record £163.4bn under labour
Labour government borrowing hit a record high of £163.4bn in the last financial year, official figures have shown. The borrowing figure for the 2009/10 financial year is lower than the £166.5bn predicted by labour’s Chancellor Alistair Darling in April’s Budget. Including financial intervention measures, borrowing totalled £152.8bn – lower than the £155.9bn forecast. It is [...]
April 22, 2010
Tags: borrowing, Credit Crunch, falling interest rates, Loan calculator, uk recession Posted in: Uncategorized No Comments
Student debt increases as inflation rises to 4.4%
Over 3.5 million students and graduates face a hefty increase in their student loan interest rates later this year after a greater than unexpected increase in inflation last month. Interest rates on student loans are linked to the the Retail Price Index (RPI) rate which applies in March. Official figures published yesterday showed that this [...]
April 21, 2010
Tags: Bank of England, borrowing, falling interest rates, loans rates, personal loans, student loans Posted in: Uncategorized No Comments
Lender fined by FSA for unfair fees
Sub prime home loans company Kensington Mortgages has been fined £1.225m by the financial regulator for treating borrowers who were in arrears unfairly. The Financial Services Authority (FSA) has also told the firm to repay £1.1m in excessive fees to those customers. Kensington had levied three types of fee that the FSA said were unfair [...]
April 13, 2010
Tags: consolidate debt loans, falling interest rates, home loans, Interest Rates, sub prime loans, UK loans rates Posted in: Uncategorized 2 Comments
OFT warns lenders over borrowing policies
UK lenders have been told they must not mislead borrowers and must make sure customers can afford to repay the loans. The guidance is the latest tightening of the rules in the lending industry The new requirements form part of new guidance from the Office of Fair Trading (OFT) to counteract irresponsible lending. “We expect [...]
April 6, 2010
Tags: borrowing, consolidate debt loans, falling interest rates, Lenders, Loan calculator, refinancing rates, sub prime loans, UK loans rates Posted in: Uncategorized One Comment
House prices remain slow claims Nationwide
The sluggish start to the year in the UK housing market continues according to the Nationwide Building Society. Prices across the UK rose by 0.7% in March, but the longer term picture showed a slow down in house price inflation. The average UK home cost £164,519, some £14,000 higher than a year ago. But the [...]
March 30, 2010
Tags: Bank of England, falling interest rates, home loans, house prices, Loan calculator, loans rates, UK loans rates Posted in: Uncategorized No Comments
