Loan Articles
Council Tax Bills In England Set To Rise By 3.9%
Council tax bills are expected to rise by an average of 3.9% in April. Costs of policing and employing more Community Support Officers have risen sharply thus affecting the decision to raise the tax. Local Government Minister says there is no excuse for this tax increase because councils could be saving as much as £1.5bn by simply cutting waste and reinvesting in local services... Read More
Will Personal Insolvencies Rise As Spending Surpasses Average Income?
Now that the credit crunch is firmly affecting the UK, personal insolvencies are expected to rise in 2008. Consumers prior to the last quarter of 2007 were able to access credit cards, loans, and mortgage products almost irrespective of their credit history. Living costs and expenditures on non-essential items are outweighing average earnings leaving many UK homeowners unable to make repayments and relying dangerously on credit cards bail them out... Read More
PPI Profits Sustain Personal Loan Market
Payment Protection Insurance offers huge profits for lenders who sell this product. PPI is a type of protection for the mortgage, loan, or credit card borrower in the event they become unemployed or for some reason cannot make their repayments. However, PPI is expensive and limited in its cover whilst many buyers often are unable to claim on it. The FSA is levying heavy fines to firms that mis-sell Payment Protection Insurance... Read More
More People Live In Fear Of Bankruptcy Or Repossession
Recent reports by experts and analysts reveal a real 'frenzy of fear' amongst many UK consumers. Due to the current credit crisis, rising mortgage costs, increasing inflation, and rising utility bills, homeowners and consumers alike are finding it difficult to manage. Home repossessions and bankruptcies are expected to rise this year and some say the 'fear' could be a good thing for consumers to tighten their spending... Read More
Northern Rock Looks Set To Be Nationalised
The threat of nationalising Northern Rock has shareholders worried. Investors were warned last week they could lose their invested money if the bank is sold. David Cameron is criticizing ministers for the takeover, saying the nationalisation of Northern Rock would be a final blow to Gordon Brown's economic credibility. ... Read More
Gloom Fails To Dampen Shoppers’ Enthusiasm
Despite gloomy economic conditions over the last few months of 2007, UK consumers happily flocked to the sales this Christmas. Ironically, an increasing number of consumers admitted they are worried about bills they face in 2008. Obtaining credit is already becoming more difficult and in spite of forecasts of an increase in bankrupcties this year, this didn't seem to slowdown the spending spirit.... Read More
More Cash Injected As Banks Tread With Fear
Governor of the Bank of England says the financial system is in a 'palpable sense of fear' and this could send the global economy into a downward spiral. The Bank of England and the European Central Bank have injected £260 billion into money markets to encourage confidence among banks to lend to each other again.... Read More
Family Debt To Get Worse
Despite optimistic predictions that 2008 will see the Bank's base rate drop once again, debt levels for UK families reveal a darker future. Credit will become harder and harder to obtain and consumers will have to pay higher interest rates when they do obtain new credit. In the last 15 years, obtaining credit was relatively easy, next year that is going to change. ... Read More
Inflation Holds Steady At 2.1%
A sigh of relief was felt across Britain's economic landscape as the inflation rate was announced at 2.1% for November. The cost of living remains steady despite petrol costs, oil, and certain foods. Gas and electricity appear to be stable and price cuts can be seen on the high street to entice Christmas shoppers... Read More
Central Bank Money May Not Be Enough
The 3 most powerful banks, the US Federal Reserve, the Bank of England, and the European Central Bank, are combining efforts to target the problems causing the global credit crisis. The emergency decision to help each other in response to the £200 billion in sub-prime related losses around the globe is an attempt to help prevent a global recession... Read More
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