News Archive From August 2006

• Half A Million Brits Are Being Charged Too Much On Their Personal Loans [29.08.06]
  New research from uSwitch seems to indicate that the less you borrow on a personal loan in the UK the more likely you are to be paying interest rates that are higher than the lender’s advertised Annual Percentage Rate (APR).
• Brits To Go On Car Buying Spree in September [28.08.06]
  According to figures recently released by the Halifax, one in ten UK motorists will purchase a new car this year. Almost half a million of these new cars will be purchased next month (September) alone, when the latest trendy UK number-plates come out.
• Who’s To Blame For Record Number Of Insolvencies In The UK? [25.08.06]
  Recent news relating to the consumer credit industry in the UK has not been good. Only last month Barclays had to write-off £1 billion in bad debts - where the lender accepts that there is little or no chance of being repaid the money they lent to the borrower.
• British Children Can Now Inherit Parent’s Mortgage Debt [24.08.06]
  Have spiraling house prices and mounting debt problems reached such a critical level in the UK that we can never hope to repay them in our life-time? According to the Kent Reliance Building Society that might be exactly where we are.
• Online Pay Day Loans Find Favour Among Britons [23.08.06]
  For years citizens of the UK have been able to pop-off to their friendly corner shop and cash a quick cheque or two if they were short of money towards the end of the month and needed to pay an unexpected bill or two.
• British Women Failing To Secure Business Loans [22.08.06]
  Entrepreneurs should be given fair treatment when it comes to securing loans for their businesses in the UK. Or so you would think.
• Home Improvement Loans Are Costing Britons Millions [17.08.06]
  With house prices almost out of control and rising interest rates, most Britons are no longer contemplating the idea of moving to a bigger home. Indeed, over 40 percent would now consider the option of extending their existing property over moving to a new home.
• Number of UK first-time buyers at their highest level since December 2002 [10.08.06]
  Figures released recently by the Council of Mortgage Lenders (CML) would seem to indicate that all those stories you’ve been hearing for years about first-time home buyers not being able to afford to get on the UK housing ladder may just be an old housewives tale
• Thousands Of Britons Face Home Loan Woes [09.08.06]
  For millions of Britons with home loans to repay, the next few weeks are going to be a very unpleasant experience. If the latest rise in interest payments were their only concern, then possibly the inevitable problems that lie ahead could be limited.
• UK Home Mortgage Borrowers May Now Be Looking To Fix Their Home Loan Rates [08.08.06]
  With the recent quarter-point rise in base rate, to 4.75%, many UK homeowners may well have spent the last weekend wondering whether or not the time had now come to consider fixing their home loan mortgage rates.
• Shock Rate Rise To Hit UK Borrowers Hard [05.08.06]
  Already overburden in debt, UK loan and credit card borrower will be left wondering what effect the Bank of England’s announced quarter-point rise in the interest rate, to 4.75%, will have on their already tight monthly budget expenditure.
• Million Of Britons Losing The Right To Prime Interest Rate Loans [03.08.06]
  Recent moves by UK loan lenders to tighten up their credit policies now means that if you fail to make even one loan repayment on time this will likely result in you losing your good credit rating.
• Mortgage Approvals Reach New High [02.08.06]
  Over the last two decades one factor has remained constant in the UK – we borrow far too much money on the ‘never-never’. If we take this as a given, two recent figures announced by the Bank of England make for very interesting reading.