Personal loan rates still increasing

According to a recent report rates on personal loans are still increasing, even though the base interest rate in the UK has plummeted to just 0.5 percent over recent months. The base rate is now at its lowest level in the history of the Bank of England, but personal loans rates have been continuing to [...]

Loan insurance complaints rise

According to a recent report the level of complaints being submitted with regards to loan insurance cover has been rising, and eight hundred complaints each week have been pouring in from consumers with regards to this type of controversial cover. The data has come from the Financial Ombudsman Service.
The FOS has also said that the [...]

Banks need to be forced to lend

Some industry officials have said that the government needs to step in and start forcing banks to lend money to consumers and businesses again, after revelations that lending levels are unlikely to improve in the near future. A recent report claimed that higher lending levels were unlikely in the imminent future, which means that the [...]

Loan site aims to match borrowers up with lenders

A loans site, Zopa.com, has recently reported that in the current climate where getting finance has become increasingly difficult, some consumers may find that they are able to access suitable loans more effectively by using the site, which is aimed at matching borrowers up with suitable lenders based on their circumstances and their needs.
An official [...]

Lending increase but house prices still falling

Recently released figures have shown that whilst lending levels in December increased slightly, house prices have continued to fall. Officials reported that house prices dropped for a sixteenth month in a row for the month of January, with a further 1 percent drop in property values. Over the past twelve months house prices are said [...]

Government assistance does not go far enough

Officials have recently stated that government assistance to try and ease the country’s failing banking system is not going far enough, despite the hundreds of billions that the government has ploughed into the financial sector by way of a rescue effort. Analysts have stated that even with the latest schemes to try and sort out [...]

Base rate could fall further

It has recently been revealed that the vote to cut interest rates to record lows following January’s Monetary Policy Committee meeting was a unanimous one, and this has sparked rumour that there is likely to be a further base rate cut at February’s meeting, which will push the base rate down even further.
At 1.5 percent [...]

Lenders told to meet fairness deadline

UK lenders that deal with borrowers taking out home loans have been issued with a warning from the UK’s financial regulator with regards to how they treat customers that have arrears or may be facing repossession. The FSA has contacted lenders that deal with these loans, stating that they have a deadline by which they [...]

Gap between base rate and interest rate has increased

With the base rate having fallen dramatically over the past three months industry officials are now stating that the gap between interest rates on loans and the base interest rate has widened further, with high rates of interest being charged on personal loans compared to the low base rate that is now in play, which [...]

Consumers advised over action to take if rejected for finance

In the current financial climate an increasing number of consumers are finding themselves being turned down for finance, such as loans, credit cards, and mortgages, and at this time year, when many people are looking for ways to fund Christmas, the level of applications is higher than normal.
However, with the increase in the level of [...]

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