Money-Review.org.uk Money News
Latest finance news from the UK money marketplace including personal loans, unsecured loans, car loans, bad credit secured loans, all types of insurance and mortgages for first-time buyers, home movers and people looking at remortgages.
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Our pockets are set to be hit hard and force us to spend hard cash rather than look for loans.
Loan rates stable
Interest rates on loans in the UK remain stable but the future is still uncertain.
Barclays Bank takes out huge Loan
Realising late one day that it needed 1.6 billion pounds, Barclays Bank was forced to take out a huge loan from the Bank of England.
Interest Rates Cause A Doubling in Debt Defaults
The number of consumers defaulting on their debt has doubled in the last year, partly due to the 4 Bank of England interest rate rises in the past 12 months.
Mortgage Lending Increases
The latest review by the CML of mortgage lending in the UK reports further rises. Higher interest rates were a factor though.
Interest Rates remain static for UK
The latest review of interest rates by the Bank of England resulted in no change to the base rate. This is the second month of no change following the shock increase at the start of the year.
Inflation Rate Continues To Rise
The latest figures show that the UK inflation rate increased to 3% in December. This is the highest level for 10 years and means further interest rate rises are more likely.
Is This The End of Free Banking?
With the end of high penalty fees in sight, the banks are now looking to fee paying customers for their income.
Barclaycard Act To Reduce Customer Debt
Barclays announced record profits for 2006 but with their credit card section showing a 40 percent drop in profits due to bad debts worth 2.15 billion pounds
Mortgage Lending Hits Record Levels
According to the Council of Mortgage Lenders (CML), mortgage lending in January this year was the highest on record.
Penalty Charge Complaints Increasing
Penalty charges levied by banks and building societies have become a rapidly increasing source of complaint from consumers.
