Payday loans lenders face OFT penalties
Action is being taken against payday lenders who flouted rules on online advertising in the run up to Christmas.The Office of Fair Trading (OFT) found some were not checking whether customers could afford to borrow or outlining charges for going into arrears. A number were unclear about the loan terms and failed to explain the [...]
January 16, 2012
Tags: bad debts, bank lending, borrowing, consolidate debt loans, Credit Crunch, Debt Consolidation, debt management plans, sub prime loans, UK loans rates Posted in: Borrowing Costs, Credit Crunch, Debt Consolidation, Debt Management, Finance, Interest Rates, Lenders, Online Banking, Payday Loans, Sub Prime Loans, UK Loans Rates, Uncategorized 
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RBS failures caused by poor decisions, says FSA
The Royal Bank of Scotland (RBS) nearly collapsed in 2008 because of poor management decisions, inadequate regulation and a flawed supervisory system, a Financial Services Authority report says.The FSA admits that its own supervision was “flawed” and “provided insufficient challenge” to RBS. And it says RBS had too weak a capital position to proceed with [...]
January 13, 2012
Tags: bad debts, bank lending, bankers, Bankrupcy, Credit Crunch, Loan calculator, nationalisation, sub prime loans, UK loans rates Posted in: Bankers, Bankrupcy, Banks, Finance, Sub Prime Loans, Uncategorized, nationalisation No Comments
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 No Comments
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 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
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 No Comments
Bank of England injects further £75 billion into UK economy
The Bank of England has said it will inject a further £75 billion into the economy through quantitative easing (QE).The Bank has already pumped £200 billion into the economy by buying assets such as government bonds, in an attempt to boost lending by commercial banks. But this is the first time it has added to [...]
October 12, 2011
Tags: bank lending, Bank of England, bankers, borrowing, consolidate debt loans, debt management plans, Quantitative Easing, UK loans rates Posted in: Bank of England, Bankers, Banks, Business Finance, Credit Crunch, Finance, Interest Rates, Lenders, UK Loans Rates, Uncategorized No Comments
Debt management firms closed down by finance watchdog
The Office of Fair Trading has cancelled the licences of 62 debt management firms in the past year, after a crackdown on rogue operators.Some fee charging firms have been criticised for misleading customers about their charges and for giving incompetent advice. Others have been told to stop cold calling customers, or stop pretending to be [...]
October 5, 2011
Tags: bad debts, bank lending, bankers, consolidate debt loans, Debt Consolidation, debt management plans, finances, Loan calculator, Office Fair Trading, sub prime loans, UK loans rates Posted in: Borrowing Costs, Business Finance, Credit Crunch, Debt Consolidation, Debt Management, Finance, Financial Services, Lenders, Loans Calculators, Loans Rates, Online Banking, UK Loans Rates, Uncategorized No Comments
Bank of England member calls for credit boost
Adam Posen, a member of the Bank of England’s interest rate-setting committee, has said the UK economy needs an instant credit boost.In a speech, he said the Bank should help the government to set up and fund a new bank to boost lending to small and medium-sized businesses. Mr Posen is the only Monetary Policy [...]
September 30, 2011
Tags: bank lending, Bank of England, bankers, banks, Credit Crunch, debt management plans, Quantitative Easing, recession, refinancing rates, UK loans rates, uk recession Posted in: Bank of England, Bankers, Banks, Business Finance, Credit Crunch, Debt Management, Finance, Interest Rates, Loans Calculators, Sovereign Debt, UK Loans Rates, Uncategorized, Unemployment No Comments
Computer systems disrupts Halifax and Bank of Scotland banking services
Halifax and Bank of Scotland online customers have been unable to get full access to their accounts following a major IT system upgrade.The banks had warned of disruption while they worked on a new system over the weekend. However, customers reported they still could not see all the details of their accounts when they logged [...]
September 26, 2011
Tags: bankers, banks, debt management plans, Lenders, online banking, UK loans rates Posted in: Bankers, Banks, Finance, Financial Services, Lenders, Online Banking, Uncategorized No Comments
