A quarter of credit card and loan apps rejected in last year
January 31, 2011
It has been claimed that over the past year around one quarter of credit card and loan applications in the UK have been turned down by lenders. This is another signal that the finance sector is still in the midst of challenging times, as banks and lenders continue to exercise extreme caution with regards to [...]
Wrong information given out by credit card companies
January 29, 2011
It has been claimed that many credit card firms are giving out inaccurate and incorrect advice on a regular basis to customers who are trying to make a claim under Section 75 of the Consumer Credit Act. According to the results of research carried out by the consumer campaign group, Which?, many providers are regularly [...]
Mortgage approvals fall to second lowest in eleven years
January 28, 2011
As most people are only too well aware, the mortgage market has gone into rapid decline since the onset of the global financial crisis in 2007. For the past few years getting a mortgage has become a difficult if not impossible feat for many consumers who were hoping to get the finance to get onto [...]
Banks to be quizzed over lending levels
January 28, 2011
The UK’s major High Street lenders are to be quizzed over low mortgage lending levels to first time buyers in a meeting that is set to be held next month. Ministers are said to be very concerned about the level of lending to first time buyers from the major UK banks, and have said that [...]
Sharp rise in insurance premiums adds misery for drivers
January 25, 2011
Many consumers in the UK are experiencing huge financial difficulties following the recession and global credit crisis. The rising cost of living, higher unemployment, wage freezes, and increased VAT are all factors that are set to see consumers continue to struggle in terms of their finances. And it seems that drivers could be worse off [...]
More money needed by households to deal with debt
January 18, 2011
It has been claimed that by 2015 households in the UK will need to find around £1800 a year extra in order to pay the interest on their credit cards, loans, and other borrowing. Officials claim that this is due to interest rate increases, with rates expected to increase by between 2 and 3 percent [...]
Many households fail to take adequate insurance cover
January 17, 2011
According to a recent report there are many households across the UK that are not adequately insured in terms of their household cover. Officials believe that many people are underestimating the value of the goods that they have in their homes, and many others are skimping on household insurance altogether in order to save money.
Officials [...]
Property prices continued to fall in December
January 12, 2011
According to the High Street lender Halifax property prices in the UK have continued to decline, with a further drop being recorded for December compared to the month before. According to officials from the Halifax property prices fell by 1.3 percent in December, leave the average property value slightly cheaper at the end of the [...]
Brits don’t worry about debt until they owe nearly £16,000
January 12, 2011
A recent survey has shown that alarmingly the average Brit does not start to worry about personal debt levels until they owe almost £16,000. The study was commissioned by Scottish Provident, and involved polling more than two thousand people. The results of the survey showed that only when the average Brit owed £15,837 on credit [...]
Banks fined over customer complaints
January 11, 2011
A leading High Street bank and its equally as well known subsidiary have been fined by the UK’s financial regulator, the Financial Services Authority, over the way in which customer complaints are dealt with. The fine has been imposed against the Royal Bank of Scotland (RBS) and its subsidiary, NatWest.
The banks have been fined a [...]
