As the effects of the credit crunch continue to have an impact on many people’s lives in the UK, an increasing number of individuals are starting to seek advice regarding their personal loans and other debts, according to a recent report from Lloyds TSB.
The survey, which was conducted across 150 branches of the bank throughout [...]
Following the welcome news last Thursday that the Bank of England’s Monetary Policy Committee had decided to cut the base rate of interest by 1.5 per cent to just 3 per cent, there was immediate concern that a large number of banks and building societies were not going to pass the savings on to their [...]
There has been good news over the past month for those people who are currently making repayments on a mortgage or other personal loan, as the Bank of England announced a cut in the base rate of interest of half a per cent, with the realistic prospect of further rate cuts on the horizon, possibly [...]
Since the collapse and subsequent nationalisation of Northern Rock last year, the newly appointed board of directors is continuing to attempt to turn the lender around and repay the money which has been pumped into the organisation by the UK taxpayer.
The mortgage and homeowner loan provider is currently on target with its repayment schedule by [...]
The Chancellor of the Exchequer, Alistair Darling, announced yesterday (8th October) that the Government was launching a £400 billion rescue package for the UK banking sector, in a move similar to that of the $700 billion package announced recently in the US.
Initially there will be £50 billion made available to banks to recapitalise the institutions [...]
It is not only the financial system in the UK which is facing a tough time at the moment, banks and loan companies around the world are now feeling the full effects of the credit crunch.
Just last week the US Congress finally approved a $700 billion rescue plan for the banking system in America, by [...]
The ailing bank and UK loan lender, Northern Rock, announced this week that it was making “solid progress” on its business plan with the Bank of England and was on track to repay the loan from the Government, which was made last year in order to bail out the Newcastle based lender.
Ron Sandler, who was appointed [...]
