Another Bank of England member wants loans interest rate rise
Another member of the Bank of England’s loans interest rate setting committee says the central bank should start raising rates now to avoid a sharp rise later. “It would protect us from a squeeze later on, needed to get people’s inflation expectations back towards the 2% target,” Martin Weale said. The Monetary Policy Committee (MPC) [...]
February 25, 2011
Tags: Bank of England, inflation, Interest Rates, Loan calculator, loans rates, MPC, UK loans rates, uk recession Posted in: Bank of England, Borrowing Costs, Credit Crunch, Interest Rates, Lenders, Loans Calculators, Uncategorized, inflation 
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Barclays reports annual profits of £6.07bn
Barclays Bank has reported pre-tax profits of £6.07 billion for the full-year 2010, slightly higher than analysts were expecting. This was a rise of almost a third on the £4.59 billion profit the bank made in 2009, Barclays said. Money put aside for bad loans fell 30% against a year earlier, to £5.67 billion. Group [...]
February 21, 2011
Tags: bank lending, banks, Lenders, Loan calculator, loans rates, personal loans Posted in: Borrowing Costs, Credit Crunch, Debt Management, Interest Rates, Lenders, Loans Calculators, Uncategorized No Comments
Government to increase UK bank levy to £2.5 billion
The government says it will increase the levy on banks to £2.5 billion this year – raising an extra £800 million. Chancellor George Osborne said the tax was being brought forward before banks announced their bonus payments. A deal with banks to increase business loans and limit bonus payments has not yet been finalised after [...]
February 15, 2011
Tags: banks, borrowing, Credit Crunch, Loan calculator, loans rates, UK loans rates Posted in: Bankrupcy, Borrowing Costs, Credit Crunch, Lenders, Loans Calculators, Uncategorized 5 Comments
Halifax customers’ pay delayed by technical problem
A technical problem has delayed transactions for Halifax bank customers, including those waiting for wages to enter their account. The bank, now nationalised and part of the Lloyds Banking Group, said the fault in processing debits and credits for Halifax and Bank of Scotland customers had now been fixed. The bank has apologised for the [...]
December 31, 2010
Tags: Bankrupcy, banks, Credit Crunch, Loan calculator, loans, loans rates, nationalisation Posted in: Borrowing Costs, Credit Crunch, Debt Management, Lenders, Loans Calculators, Uncategorized 3 Comments
Eurozone interest rate held at 1%
The European Central Bank (ECB) has kept loans interest rates in the eurozone on hold at a record low 1% for the 18th month in a row. Earlier the Bank of England also kept the UK interest rates at 0.5%. On Wednesday, the US Federal Reserve announced that it would pump a further £373bn into [...]
November 8, 2010
Tags: Bank of England, ECB, Interest Rates, loans rates Posted in: Uncategorized One Comment
Greek loans hit by election jitters
Speculation over a possible snap general election and thr prospect of political unrest have renewed pressure on greeek loans. After a period of relative calm, the country’s debt woes hit markets again with yields on 10-year bonds climbing 74 basis points to more than 10% in a reflection of investor unease. The spectre of fresh [...]
November 1, 2010
Tags: Credit Crunch, Interest Rates, Loan calculator, loans rates Posted in: Uncategorized 4 Comments
New affordable loans scheme is unveiled
A new not for profit lending scheme is being unveiled aimed at giving manageable loans to people who cannot obtain conventional loans.Iain Duncan Smith: “The very people that can least afford it end up paying interest rates… staggering, shocking figures.” A pilot scheme has been set up in the West Midlands called My Home Finance, [...]
September 28, 2010
Tags: Credit Crunch, Interest Rates, Loan calculator, loans, loans rates, sub prime loans Posted in: Uncategorized 2 Comments
Overdraft interest rates reach record high- Bank of England confirms
Bank customers are being hammered with record high overdraft rates- according to official Bank of England findings. The average rate that customers are being charged by banks and building societies for overdrafts climbed to an average of 19.1 per cent in August, the highest level since records began in 1995, according to the Bank of [...]
September 15, 2010
Tags: Bank of England, credit cards, Interest Rates, loans, loans rates Posted in: Uncategorized No Comments
UK interest rates on hold for 18th month at 0.5 pc
The Bank of England maintained its emergency support for the economy by keeping interest rates at 0.5% for the 18th month in a row.Policymakers also continued with the Bank’s £200 billion quantitative easing (QE) programme amid uncertainty over the path of the UK’s recovery. While the UK economy rose by a far better-than-expected 1.2% in [...]
September 10, 2010
Tags: Bank of England, inflation, Interest Rates, loans rates, MPC, Quantitative Easing Posted in: Uncategorized 2 Comments
PPI compensation could reach £2.7bn says FSA regulator
Two and three quarter million people could be refunded as much as £2.7bn for being mis-sold Payment Protection Insurance (PPI). The Financial Services Authority (FSA) has given banks and other lenders until 1 December to adopt new rules for dealing with PPI complaints. The FSA said that over five years it had found “wide and [...]
August 17, 2010
Tags: borrowing, FSA, loans, loans rates, personal loans Posted in: Uncategorized No Comments
