It is fairly common knowledge that the average level of debt which individuals living in the UK hold on personal loans and credit cards is the highest it has ever been and is continuing to increase.
The majority of people who are still working and have the prospect of doing so for several years to come, [...]
It was only just over twelve months ago when if a borrower’s mortgage or home owner loan reached the end of the initial deal and reverted to the lenders standard variable rate (SVR), then they would be shopping around for a new deal and it wouldn’t take them long to find a new lender who [...]
As the credit crunch deepens and people are finding it increasingly hard to obtain a personal loan, or other finance through more conventional methods, such as a bank or building society, a large number of individuals are turning to desperate measures such as loan sharks and pay day loan companies, just to try and make [...]
In a surprise move yesterday (Thursday 6th), the Bank of England’s Monetary Policy Committee (MPC) announced a cut in the base rate of interest of 1.5 per cent, bringing the base rate down to 3 per cent.
This move follows a cut last month, when the rate was cut by half a per cent, to 4.5 [...]
There has been a lot of talk about irresponsible lending within the mortgage and personal loan industries over the past few months, as an ever increasing number of borrowers are finding themselves in financial difficulties as the credit crunch tightens and they struggle to meet their monthly repayment commitments.
Many individuals are blaming the various lenders [...]
As the global credit crunch continues to affect everybody in the UK in some form or other, many individuals and families are being forced to cut back on the amount of money they spend on the luxuries in life in order to be able to meet their regular monthly financial commitments.
For the majority of families, [...]
There have been a number of reports recently into the ongoing problems with Payment Protection Insurance (PPI) with regard to miss-selling from loan providers and brokers and the level of complaints which have been generated from this type of business.
Payment Protection Insurance is designed to protect an individual’s regular monthly repayments on their personal loans, [...]
