Loan Articles
The "Price Of Failure" At Northern Rock
Northern Rock's chief executive quits and receives payoff. Shareholders continue to flee as financial institutions willing to bail out the bank remain scarce. As debts to the Bank of England continue to rise close to £26 billion other banks benefit from unhappy Northern Rock customers by switching accounts elsewhere... Read More
Barclays Write-down Not As Bad As Rumoured
Recent rumours about Barclays financial health situation forced the bank to issue an update from its investment banking division Barclays Capital. Despite a £1.3bn loss, this figure was much less than the reported £10bn rumoured. Head of Barclays Capital explained that the write-downs were severe in October but that BarCap posted the fourth largest monthly income in its history... Read More
Handling Of Northern Rock Crisis Criticised
The opinion of a former member of the Bank of England's Monetary Policy Committee was that the Bank and the government should have let Northern Rock collapse. Further comments suggest the splitting of information and money between the tripartite groups such as the Bank, the Treasury, and the FSA means disabling crises, like Northern Rock's, difficult in a timely manner... Read More
Loan Rates Will Go Even Higher
More and more unsecured personal loan providers are falling victim to the credit crunch and as a result pulling out of the UK loan market as credit has simply 'dried up'. Some banks have stopped offering unsecured loans for now whilst other drive up the interest rates as well as reject applications for those with the most severe credit. It has become too difficult for some lenders to find the money to lend... Read More
The New Credit Climate
With the UK banks, lenders, and credit providers tightening their lending criteria, many Brits will be hard put to borrow in the future with less-than-perfect credit records. Government crackdowns on banks who lend irresponsibly have lead to large consumer debts therfore interest rates have increased and it becomes more difficult to borrow for most... Read More
UK Economy Heading For Trouble?
Top economist Charles Bean with the Bank of England warns the UK economy could take a turn for the worse due to recent global financial problems. Despite this, the UK economy is being hit during a time of strong positioning but consumer confidence and spending is down due to high interest rates and tigher lending criteria... Read More
Unemployed: Can I Get A Loan?
There are many concerns when becoming unemployed. Mortgage payments and other everyday bills could soon dry up any savings thus the need for borrowing becomes paramount. It is still possible to obtain a loan if unemployed and homeowners generally have a better chance of success... Read More
Christmas Is Coming - The Debts Are Getting Fat
As Christmas is almost upon us, it is important to consider budgeting our finances to pay for this holiday season. By planning ahead and spending some time organising shopping lists, a budget for gifts, nights out, or even holidays, you can help avoid the fat debts bills that often plague us after the holidays... Read More
Personal Loan Rates On The Up
Recent reports have shown interest rates on personal loans to have increased over the past few months. A survey of 32 loan providers revealed that personal loan rates have increased by as much as 3% with an overall rise of almost 1% compared to the Bank's 0.25%. To find better rates it is recommended to search online as applying in person may cost you more... Read More
Average Student Debt Over £10k
Student debt in the UK averages over £10,000 per year. Despite typically not having to repay the loans until employment, some graduates feel improved student financing measures should be considered. The government feels higher education to be worthwhile investment even if debt is higher... Read More
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