UK economy at dangerous junction warns Item Club
The UK economy has stalled at a dangerous junction, according to independent forecaster Ernst and Young.The body, whose Item Club uses the same forecasting methods as the government, says the economy needs new growth measures to get back on track. It says uncertainty across the eurozone and a slowing world economy is undermining business confidence. [...]
October 19, 2011
Tags: bank lending, Bank of England, bankers, Credit Crunch, Loan calculator, loans, loans rates, UK loans rates Posted in: Bank of England, Bankers, Banks, Credit Crunch, Debt Management, Financial Services, Loans Calculators, UK Loans Rates, Uncategorized 
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UK financial firms downgraded by Moody’s credit rating agency
Moody’s has downgraded the credit rating of 12 UK financial firms including Lloyds TSB, RBS, Nationwide and Santander UK.Moody’s said it now believed the UK government was less likely to support some firms if they got into trouble. However, the firm emphasised that the downgrades did not “reflect a deterioration in the financial strength of [...]
October 14, 2011
Tags: bank lending, bankers, banks, borrowing, Credit Crunch, Loan calculator, loans Posted in: Bank Lending, Bankers, Borrowing Costs, Business Finance, Credit Crunch, Debt Consolidation, Finance, Independent Finance, Lenders, Loans Calculators, Online Banking, 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
Payment Insurance compensation backlog 97% cleared by banks
Banks have processed more than 97% of their huge backlog of complaints about payment protection insurance (PPI).After losing a High Court test case in April they were told to deal with 200,000 complaints which they had put on hold pending the hearing’s outcome. The Financial Services Authority (FSA) gave them until the end of August [...]
September 14, 2011
Tags: bank lending, bankers, banks, debt management plans, Loan calculator, loans Posted in: Bankers, Banks, Lenders, Loans Calculators, Uncategorized No Comments
Average UK student debts could hit £53,000
Average debts may reach £53,000 for UK students starting in 2012 – double the figure for 2011 – an annual survey suggests.The Push university guide said average annual debts had risen 6.4% in the past year – more than inflation – to £5,680. Researchers interviewed 2,800 students and based the projection on an average course [...]
September 5, 2011
Tags: borrowing, consolidate debt loans, Credit Crunch, debt management plans, loans, student loans Posted in: Borrowing Costs, Credit Crunch, Debt Management, Finance, Loans Calculators, Loans Rates, Uncategorized No Comments
RBS falls into loss by Greek crisis and PPI costs
The Royal Bank of Scotland (RBS) has reported a half year loss after taking a £733 million provision for its exposure to Greek government bonds.The nationalised bank RBS – 84%-owned by UK taxpayers – reported losses after tax of £1.4 billion for the six months to 30 June. RBS also allocated £850 million to cover [...]
August 18, 2011
Tags: bad debts, bank lending, bankers, Bankrupcy, banks, debt management plans, Loan calculator, loans, nationalisation Posted in: Bankers, Banks, Borrowing Costs, Business Finance, Credit Crunch, Debt Management, Lenders, Loans Calculators, Uncategorized, nationalisation No Comments
Leading UK banks say they are meeting lending targets
The UK’s five largest banks said they will meet targets for lending to businesses in the Project Merlin deal. The banks said they had lent just over £100 billion to UK businesses in the first half of the year against an annual target of £190 billion. Lending to small businesses during the first half was [...]
August 15, 2011
Tags: bad debts, bank lending, bankers, banks, borrowing, commercial finance, debt management plans, loans Posted in: Bankers, Banks, Business Finance, Finance, Independent Finance, Lenders, Loans Calculators, UK Loans Rates, Uncategorized No Comments
Credit Suisse to cut 4% of global workforce by 2012 to save money
Credit Suisse is to cut more than 2,000 jobs – or 4% of its global workforce of 50,700 – by the end of next year in an attempt to make savings.The announcement came as the Swiss bank reported a 52% year-on-year fall in net profit to 768m Swiss francs ($959m; £586m) in the second quarter. [...]
July 26, 2011
Tags: banks, borrowing, Lenders, Loan calculator, loans, recession Posted in: Bankers, Banks, Borrowing Costs, Business Finance, Credit Crunch, Finance, Lenders, Loans Calculators, 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
Financial regulation to be tougher and bolder
The financial services industry faces “tougher and bolder” regulation, under plans for the forthcoming Financial Conduct Authority (FCA). The FCA will be one of the successors to the Financial Services Authority (FSA), it will come into being by the end of 2012. The FCA will oversee the way 27,000 firms, including banks, do business with [...]
July 4, 2011
Tags: bank lending, bankers, banks, borrowing, finances, Loan calculator, loans, UK loans rates Posted in: Bankers, Business Finance, Credit Crunch, Finance, Independent Finance, Lenders, Loans Calculators, Uncategorized No Comments
