To no suprise a profit warning has been issued by a number of Uks largest retailers such as Currys. This is the highest level of warnings in the 1st quater since 2001. There is an 11% increase of these warning compared to the same period in 2007. All this is because consumers are worried about [...]
Chancellor Alistair Darling has urged lenders to pass on interest rate cuts on to their borrowers. This is linked to yesterdays story where lenders were to increase rates on existing packages. Approximately £15bn has been put into the financial market by the Bank of England so its about time the lenders made life a little [...]
Many of you may already be aware that churches also have to borrow money from time to time in order to refinance their facilities, construction work or for expansion. Up until now I thought they were running on our donations. A non profit organisation , Church Mortgage and & Loan Corp based in America who [...]
The bank of england has cut its interest rate today to 5% from 5.25% to try to spur the economy. This is the 3rd cut in the interest rate since December last year. The largest mortgage lenders will pass the cut on to their customers who pay variable rates. However many mortgage lenders are yet [...]
I’m sure you will have read about the current mortgage crisis, commonly being referred to as the ‘credit crunch’. It’s come about because the number of repossessions has increased in America and this is primarily being attributed to mortgage lenders lending money to pretty much anyone, in particular the sub prime market (those who have [...]
One of the worlds largest commercial banks has admitted to losing a disk which contained details of 370,000 customers. The disk that was sent by courier from the banks life insurance office in Southampton included details of customers names, dates of birth and levels of insurance cover but we are assured that no account details [...]
Used car sales have fallen during the year of 2007 however despite this cars aged 5 years or older did see an increase in sales. Cars aged between 5 and 7 years saw an increase of 3.3% which was more than any age group. It seems as though this increase could be due to the [...]
Ideally PPI is something that should protect a borrower in bad times. If they cant pay their mortgage, credit card or loan because of sickness, unemployment or an accident then the PPI kicks in to cover their back even at death they will cover the loan repayments. Only one problem though. Lenders have become greedy [...]
According to the latest report British consumers were lent £21bn of personal loans without income checks. 70% of applicants were not asked to prove their income and 45% of pople took out loans from other lenders instead of their own banks so the lender had even less information about their potential borrower. 15% were not [...]
Employers are currently being notified of the changes in which they should deduct student loan repayments from their employees salary. From April 6th the new changes will come into force. Up until now HM Revenue and Customs would send employers a notice (SL1 form) which advised them to start deducting payments 42 days after receiving [...]