September 20, 2010
Report reveals lenders not passing on base rate cuts
Story link: Report reveals lenders not passing on base rate cuts
The Bank of England’s Quarterly Bulletin has revealed that High Street banks have not been passing on base rate cuts in full. Interest rates have been held at the record low of 0.5% since March 2009 (when the country was in the midst of its worst recession in decades), but despite this, banks are not [...]
Survey finds credit availability has not improved
Story link: Survey finds credit availability has not improved
A survey by the EEF engineering group has discovered that British companies are still struggling to obtain credit. According to the manufacturers’ organisation, credit is more expensive today than two months ago. The claim comes despite calls from the Government and business leaders to increase lending to businesses. http://www.financemarkets.co.uk/2010/09/20/survey-finds-credit-availability-has-not-improved/
July 27, 2010
Lloyds confirms it will cease selling PPI
Story link: Lloyds confirms it will cease selling PPI
Banking giant Lloyds has confirmed it will no longer sell the controversial payment protection insurance (PPI). Lloyds Banking Group, which is 41% owned by the taxpayer, is the first bank to drop PPI sales and the decision will apply to customers of all its brands including the Halifax, Bank of Scotland and the Cheltenham & [...]
March 25, 2010
RBS and Lloyds to increase lending targets
Story link: RBS and Lloyds to increase lending targets
In yesterday’s Budget, Chancellor Alistair Darling unveiled plans for rescued banks, Royal Bank of Scotland (RBS) and Lloyds Banking Group, to lend more to businesses. In a legally binding agreement, RBS and Lloyds, which are 84% and 41% owned by the taxpayer respectively, were rescued at the height of the financial crisis but there have [...]
March 10, 2010
FSA delays PPI reforms
Story link: FSA delays PPI reforms
Earlier this week, research by Defaqto found that the average annual percentage rate (APR) had soared and one of the reasons behind this, according to the finance group, is “the absence of PPI sales income”. The FSA is in the process of reforming the PPI market but has announced a delay to its plans. http://www.financemarkets.co.uk/2010/03/10/fsa-delays-ppi-reforms/ [...]
February 23, 2009
Cap interest rate charges
Story link: Cap interest rate charges
Polititions are among the most critisised people in the world, although I don’t think anybody except the banks will be disagreeing with their comments of late. They are suggesting that banks are made to cap their interest rates relating to personal loans, which have spiralled out of control over the past few months, some standing [...]
February 4, 2009
Bad debt and unsecured loans
Story link: Bad debt and unsecured loans
Our country has spiralled way out of control over the last few years, with people finding it easier to apply for a small to medium sized loan rather than get a few extra shifts at work or a part time job. Those times are hopefully over, well, they have to be for the future stability [...]
Cash loans
Story link: Cash loans
Cash loans are an unsecured way of people requiring funds to obtain a loan without putting down property as a form of security. They are available to all UK citizens, as long as they pass credit checks and are over the age of 18. Cash loans The cash loans are crafted with intelligence for the [...]
