Government accused of complacency over Icelandic bank collapse
October 24, 2008
The Government has been accused of being complacent in the run up to the collapse of Icelandic banks, after it emerged that ministers had received warnings over the possible collapse of the bank in around July. However, they had failed to take action and soon after the Icelandic banks, as predicted, did indeed collapse.
According to [...]
Good news for banks over bank charge test case
October 24, 2008
The start of this year also saw the start of a High Court test case into overdraft charged imposed by banks in the UK. Banks had been receiving millions of pounds worth of claims over bank charges going back as far as 2001, but in the summer of 2007 the claims that were still pending [...]
Huge fine for A&L over PPI
October 23, 2008
According to recent reports the lender Alliance and Leicester has received a record fine over the mis-selling of PPI or Payment Protection Insurance. The UK’s financial regulator, the Financial Services Authority, has fined the lender £7 million as a result of mis-selling PPI over a period of three years. This comes as part of an [...]
Banks set to continue reducing lending
October 23, 2008
According to recent data released by the Bank of England, UK lenders are set to reduce their lending levels even further as the global financial crisis continues to wreak havoc in the nation’s financial market. Both banks and building societies have said that they plan further cutbacks in the lending levels in the near future.
Further [...]
What are the main benefits of consolidating your debts?
October 23, 2008
In the current financial climate many people are struggling with their finances, with borrowing costs, household bills, petrol costs, and food prices all adding to the financial strain, not to mention the damaging effects of the global credit crunch, which has made borrowing both more difficult and more expensive.
For those with debts to keep on [...]
The Convenience of Homeowner Loans
October 22, 2008
The most important purchase or your life will likely be that of your home. You make more mortgage payments faithfully each month to ensure that you always have the security of the home and look forward to the day when you will be mortgage free.
There are times, though, when you may find yourself in financial [...]
Northern Rock sees influx of deposits
October 22, 2008
Just a year after becoming the first victim of a run on a British bank in nearly a century and a half the now nationalised Northern Rock has seen a rush of people trying to deposit money into its savings account, as confused consumers try to find a safe place for their money amidst the [...]
Savers looking for protection of Irish banks
October 22, 2008
According to recent reports many consumers in the UK are looking to try and benefit from recent changes to the Irish banking system by protecting their savings in UK branches of Irish banks that are now enjoying full protection on all savings. Those with savings in UK banks, other than Northern Rock and National Savings [...]
Northern Rock forced to cut accounts
October 21, 2008
The nationalised bank, Northern Rock, has been forced to cut back on some of its savings accounts as a result of an influx of consumers heading its way to try and put money into a savings account. This is because in the current turbulent financial climate many are trying to find a safe haven for [...]
Factors to Consider When Opening a Bank Account
October 21, 2008
When you want to put money in a bank account, there are several different kinds of accounts you can choose.
Basic Bank Account. This type of account was set up under a government scheme to allow poorer families to have access to a bank account. You can deposit your wages into this type of account, use [...]
