No black mark on credit file of Egg victims
February 26, 2008
Credit reference agencies have stated that the customers who have been affected by Egg’s decision to cancel 161,000 credit card accounts will not have to worry about getting a black mark on their credit file.
In fact, officials from the credit referencing agencies have said that some customers may even benefit from the withdrawal, as it [...]
Watch out for over the top rate cuts on savings accounts
February 26, 2008
Following the recent 0.25% interest rate cut announced by the Bank of England earlier this month it has been revealed that a number of lenders have slashed the interest rate that they are paying on savings, some by way more than the base rate cut.
This means that many savers could lose out by getting a [...]
Clarkson embarrassed over bank account fraud
February 25, 2008
Jeremy Clarkson, the presenter of Top Gear, recently embarrassed himself by stating that concerns over bank fraud were simply people making a fuss about nothing – and then becoming the victim of bank fraud himself.
Clarkson has now admitted that he was wrong to rubbish the concerns of consumers who had been worries about their bank [...]
Repossessions soar to eight year high
February 25, 2008
Stretched affordability, tighter lending conditions, and high interest rates all contributed towards repossession levels in the UK soaring to an eight year high last year.
Over 27,000 homeowners had their properties repossessed last year, reflecting a rise of 20%. Many others could face repossession in the next year and a half according to the FSA.
Experts are [...]
New protocol could prove invaluable for borrowers in a lot of debt
February 22, 2008
A new protocol that has been drawn up by the Insolvency Agency could help borrowers that are in a lot of debt who are looking to enter into an IVA or Individual Voluntary Arrangement.
Awareness of IVAs has been raised over the past couple of years as a result of an array of advertisements run by [...]
Little boy finds bank doors unlocked
February 22, 2008
According to a recent report a young boy aged just five found the doors to an HSBC bank unlocked even though the branch was closed and empty. The young boy simply pushed open the doors and ran into the bank to play with some toys, but his mother is concerned that it could have been [...]
Darling confident about UK housing market
February 21, 2008
Although there has been a significant slowdown in the UK housing market over recent months the Chancellor of the Exchequer, Alistair Darling, has stated that he is still confident about the UK housing market, adding that the UK is far less vulnerable to a house price crash than the US due to a range of [...]
Northern Rock causes rows to erupt amongst political parties
February 21, 2008
The Northern Rock situation has resulted in further rows erupting between politicians recently, with verbal attacks on the Prime Minister, Gordon Brown, from the Conservative party leader David Cameron, and verbal attacks on the Conservative party from the Lib Dems.
The government recently announced that the troubled bank may be placed into public ownership – a [...]
Royal Institute of Chartered Surveyors calls for further rate cuts
February 20, 2008
The Royal Institute of Chartered Surveyors (RICS) has stated that the Bank of England needs to cut interest rates as early as possible in order to avoid a housing market meltdown that could be similar to that seen in the 1990s. Many had expected the interest rate to be cut in January but the base [...]
Top place in poll for Nationwide
February 20, 2008
The major high street banks in the UK have all been beaten by a building society in a poll to reveal which is the most trusted bank or building society amongst consumers in the UK. Over recent years consumer trust in banks has dwindled over issues such as security breaches and bank charges, but the [...]
