Bank of England keeps interest rates on hold
February 10, 2008
Following this month’s Monetary Policy Committee meeting the Bank of England has announced that interest rated for October will remain unchanged at 5.75%. This was widely expected by most economists and analysts, although the decision has caused disappointment amongst those that had been calling for a cut in interest rates. This is the third month in a row where interest rates have been kept on hold at 5.75% following July’s quarter point rise, which took the rate up to its current level from 5.5%. Read more
New year is unlikely to see an end to credit crunch effect
February 8, 2008
Since summer of this year both consumers and industries in the UK have suffered as a result of the credit crunch that has swept across from the Atlantic, where it was sparked in the sub-prime sector of the US mortgage market. The effects of the credit crunch have been profound and damaging, and there have been some high profile victims, including the stricken bank Northern Rock. However, for those that thought that the problems were set to die down as the New Year dawned the news is not good. Read more
Potential borrowers could face a struggle
February 5, 2008
Experts have warned that consumers could be facing real problems when it comes to borrowing money and taking out credit in the months to come, and this comes as a result of the recent credit crunch that has impacted upon the financial markets in the UK and globally. Increased stringency from lenders in the light of the turmoil in the financial markets has resulted in many people finding it increasingly difficult to get finance or credit, particularly in cases where their credit is not very good. Read more
Avoid getting into too much debt if you are a student
January 30, 2008
Experts are warning today’s students to make sure that they do not get themselves into too much debt, and to keep the long term effects of debt in mind when taking on finance whilst at college or university. Being a full time student can be difficult in terms of finances, and many students end up getting into high levels of debt whilst at college or university, which can make life difficult when they leave education and go out into the ‘real’ world. Experts are therefore urging students to be careful about getting into debt for frivolous reasons. Read more
Turmoil in financial markets to affect the UK
January 29, 2008
The current turmoil in the financial markets, which was sparked in the sub-prime sector in the United States, is already having and will continue to have an adverse effect throughout the UK according to one industry professional. Professor Willem Buiter, who is a Former adviser to the Bank of England and former member of the Monetary Policy Committee, said that the UK mortgage and lending markets were already feeling the effects of the credit crunch that has been sparked by record levels of defaults in the United States’ sub-prime sector. Read more
Lenders may be able to flag up struggling borrowers more easily
January 27, 2008
Bad debt levels in the UK have caused huge problems for lenders and finance companies over recent years, and lenders have been increasing stringency and looking for new and inventive ways to not only recoup the losses from these bad debts but also to avoid taking too high a risk when it comes to offering finance. In the past this has proven difficult for many lenders, and they have fallen victim to bad debt despite running credit checks and credit scoring on potential borrowers. Read more
Personal loan rate cuts from Barclays
January 25, 2008
Over recent weeks a number of high street lenders have hiked up the interest rates on their unsecured personal loans, some by a whopping 4%, which has made borrowing far more expensive for consumers looking to take out a personal loan. Around nine lenders are thought to have upped the interest rates on their unsecured borrowing, many blaming the effects of the global credit crunch and the turmoil in the financial markets, coupled with increased bad debts. Read more
Credit crunch sends personal loan rates sky high
January 24, 2008
Borrowers in the UK could find themselves hit with extortionate interest rates on unsecured personal loans, as the credit crunch has resulted in a number of lenders raising interest rates by a significant amount, making unsecured borrowing far more costly for many people. Turmoil hit the UK’s financial markets over recent months, and was sparked by the credit crunch in the sub-prime sector of the United States. Read more
Consumers turning to secured loans for home improvements
January 22, 2008
Recent data has shown that many homeowners in the UK are taking advantage of soaring property prices, and are turning to secured loans in order to fund home improvements that could potentially further raise the value of their homes. Many homeowners have seen their property value rise by thousands of pounds in the last year – it is reported that the average property in the UK is rising in value by around £50 per day. With soaring equity levels homeowners are able to enjoy increased borrowing power in the form of secured loans. Read more
Business Loans Overview
January 18, 2008
Whether you are starting up a new business or you already have a business, the likelihood is that at some point you are going to find yourself in need of some sort of business loan. This could be to help with start up costs and setting up your business, or for existing business owners it could be to improve cash flow, make larger purchases, and aid the smooth running of the company finances. Whatever type of business loan you are looking for, in today’s market you will find excellent choice and some very competitive deals on business loans. Read more
Student Loans
January 18, 2008
Life as a student can be fun, exciting, and very rewarding, and those attending university can look forward to earning a valuable qualification, developing a range of important skills, developing and enhancing their knowledge, and entering into an exciting and lucrative career after graduating. Read more