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 
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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
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
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
Bank of England MPC unanimous in holding interest rates
All nine of the Bank of England’s Monetary Policy Committee (MPC) voted to keep interest rates on hold at its August meeting, minutes have shown.Two members who had regularly voted for an increase to ward off rising inflation ditched their stance in the face of a weaker economic environment. The vote means interest rates are [...]
September 7, 2011
Tags: Bank of England, bankers, debt management plans, Interest Rates, Loan calculator, UK loans rates Posted in: Bank of England, Borrowing Costs, Credit Crunch, Interest Rates, Loans Calculators, Uncategorized No Comments
Federal Reserve expects not to raise loans interest rates until 2013
The Federal Reserve has said it expects to keep loans interest rates at their current low levels until at least the middle of 2013.The US central bank admitted in its announcement that America’s economic growth this year had been “considerably slower” than it had expected. It did not say whether it was considering more quantitative [...]
August 26, 2011
Tags: bank lending, bankers, banks, Credit Crunch, Interest Rates, Loan calculator, loans rates, US loans rates Posted in: Banks, Borrowing Costs, Interest Rates, Lenders, Loans Calculators, Loans Rates, Uncategorized No Comments
Workers facing a bleak old age warns pension review
Millions of people face a “bleak old age” because they are falling through the cracks of private sector pension provision, a review warns.The Workplace Retirement Income Commission says 14 million people are not saving into a workplace pension scheme at all. And those who are in a scheme often get charged too much for a [...]
August 3, 2011
Tags: Bankrupcy, Credit Crunch, Interest Rates, personal loans, UK loans rates, uk recession Posted in: Bankers, Credit Crunch, Finance, Independent Finance, Loans Calculators, Uncategorized No Comments
Loans interest rate rises unlikely in near term says Bank of England
There is a reduced chance of a rise in loans interest rates in the near term the Bank of England policymakers have said. Minutes from its July meeting showed the Monetary Policy Committee voted seven to two in favour of holding rates at 0.5% for the second month in a row. Spencer Dale and Martin [...]
July 18, 2011
Tags: Bank of England, banks, Credit Crunch, Interest Rates, loans rates, UK loans rates Posted in: Bank of England, Bankers, Borrowing Costs, Credit Crunch, Loans Calculators, UK Loans Rates, Uncategorized No Comments
Loans interest rates must rise claims top bankers
The Bank for International Settlements (BIS) has warned that low interest rates across the globe are a threat to world financial stability. The BIS has warned that the low cost of borrowing had resulted in a credit and property price boom which was fuelling inflation, especially in emerging economies. Central banks across the globe have [...]
July 6, 2011
Tags: Bankrupcy, banks, borrowing, Credit Crunch, finances, Interest Rates, Lenders, Loan calculator, loans, refinancing rates Posted in: Bankers, Banks, Business Finance, Credit Crunch, Finance, Interest Rates, Lenders, Loans Calculators, Uncategorized, inflation No Comments
New Bank of England member votes to keep loans interest rates on hold
The new member of the Bank of England’s loans interest rate setting committee had voted to keep rates on hold at the record low of 0.5%. Minutes of its just published June meeting showed that former Goldman Sachs economist Ben Broadbent voted with the majority of the Monetary Policy Committee (MPC). It means he has [...]
June 24, 2011
Tags: Bank of England, bankers, banks, Interest Rates, Loan calculator, Quantitative Easing, sovereign debt, UK loans rates Posted in: Bank of England, Bankers, Banks, Credit Crunch, Debt Management, Interest Rates, Loans Calculators, Sovereign Debt, Uncategorized No Comments
