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 [...]
August 15, 2010
Research shows 1.2m taking out payday loan each year
Story link: Research shows 1.2m taking out payday loan each year
According to research by watchdog Consumer Focus, the number of people taking out a payday loan has quadrupled in the last 4 years. The consumer group said 1.2 million people are now taking out a payday loan every year – borrowing more than £1 billion. Payday loans are becoming more popular and are seen as [...]
May 14, 2009
Cheapest loan providers named
Story link: Cheapest loan providers named
The Telegraph has an interesting article which covers the best deals for personal loans at present: Loan alert: personal loans charging 8pc or less A personal loan from Nationwide is reported as the cheapest, with a loan rate of 7.9% offered to existing Nationwide customers (though not those with existing loans). The AA also offers [...]
April 17, 2009
Nationwide announces new personal loans rates
Story link: Nationwide announces new personal loans rates
The Nationwide Building Society has announced a new range of personal loan rates this week, offering a more competitive rate on loans between £7500 and £15000: Nationwide’s new personal loans rates With effect from Thursday 2 April 2009, Nationwide Personal Loans will offer a competitive rate of 8.2% APR typical for loans of £7,500 to [...]
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 [...]
