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Loan News

Repossession orders on the rise

The anticipated increase in repossession orders appears to be materialising, figures from the Ministry of Justice show.

Mixed views on interest rate decision

Economists are divided as to how soon the Bank of Englands monetary policy committee is likely to change the base rate of interest.

Bank Rate fixed at five per cent

The monetary policy committee has agreed to maintain the base rate of interest at its current level of five per cent for another month.

Inflation overhang could encourage base rate cut

This weeks monetary policy committee decision could be spurred by the inflationary outlook in the immediate future, according to an economist.

Equity release is still available

While many Britons may face negative equity due to falling house prices, they are told that equity release is still a possibility for them.

Housing ladder rung has broken

The lowest rung on the housing ladder "has broken", according to John Charcol.

House prices fall for the first time in 12 years

The latest Nationwide house price survey could give first-time buyers reason to celebrate, noting an annual fall in property valuations.

OFT celebrates High Court support

The High Court has confirmed that the Office of Fair Trading (OFT) may pursue its assessment of the fairness of overdraft charges, it has been revealed.

FTBs keep it in the family

Family help is proving to be the "main option" for first-time buyers (FTBs) in light of their inability to place a deposit on a property from their own funds, it has been suggested.

Debt worries for one in five youngsters

Debt is weighing heavily on the minds of the nations young people, according to Abbey.

Advice adds confidence to PPI decisions

Britons should obtain expert advice before deciding whether to take out payment protection insurance (PPI), it has been suggested.

Knock-on effect from lack of transfer deals

A reduction in credit card balance transfer offers is likely to materialise in the form of other financial effects for many Britons, it has been claimed.

Major support announced for FTBs

The Department of Communities and Local Government has announced a "major package" of support for those looking to purchase a property.

Darling: Lenders must pass rate cut on

Chancellor Alistair Darling has urged lenders in the UK to ensure their rates reflect the quarter-point reduction made by the Bank of England.

Credit no more available with lower base rate

Reductions in the base rate have so far proved meaningless for borrowers, it has been claimed.

Base rate cut to 5% by Bank of England

The Bank of England has lowered the base rate of interest by 25 basis points to five per cent.

Graduates cannot reach the bottom rung

The housing ladder may be completely out of reach of graduates, it has been warned.

Rate cut could come next week

The Bank of England could opt to cut the base rate this month, according to an economist.

Paragon Mortgages plans to halve lending

Tightened credit conditions have led Paragon Mortgages to announce it is halving the amount available to borrowers over the coming months.

Northern Rock reveals two-year plan

Northern Rock is aiming to repay its debts by the end of 2010, according to a new business plan announced by the financial services provider.

BBA updates Banking Code

March 31st sees the official introduction of the 2008 edition of the Banking Code.

Serious debt not in best interests of Britons

It is in nobodys best interests to develop a serious debt problem, according to Halifax.

Base rate cut may still be needed

An atypical cut in the base rate of interest may be needed despite improving growth expectations, according to John Charcol.

Debt lifestyle for Brits

Consumers in the UK could have become accustomed to debt as a lifestyle choice, it has been suggested.

Credit applicants haunted by white lies

With credit conditions tightening, Equifax warns Britons not to lie in order to access new lending.

Bank of England will wait and see

The Bank of England will not change the interest rate in March, according to a number of economists.

Bridging loans growing in importance

An increasing number of Britons stand to benefit from bridging loans, it has been suggested.

Analysts predict rate cut

The Bank of England will lower the base rate next week, according to financial industry insiders.

King to serve further term as governor

Bank of England governor Mervyn King has been reappointed to serve a further five-year term in the role, it has emerged.

House prices fall for fourth month in a row

A January decline in the average property value is the fourth such monthly fall in a row, it has been claimed.

Proactive approach needed for personal finance

A personal finance expert urges Britons to "get smart, get savvy" and address their monetary problems.

Bank of England awaits inflation report

The impending publication of the Bank of Englands quarterly inflation report was a key influencing factor in the decision not to change the base rate of interest, it has emerged.

Black is the new blue for UK finances

So-called Blue Monday went worse than expected for UK investors, with £77 billion wiped off the FTSE 100.

Insolvencies set to rise in 2008

The number of insolvencies and individual voluntary arrangements (IVAs) taking place in Britain looks set to rise significantly this year, with "quite a few predictions to say that there will be an increase".

No change in base rate, says Bank

The Bank of England has opted to maintain the current base rate of 5.5 per cent in its January meeting.

Bankruptcies set to rise in 2008

Consolidation loans might seem an increasingly appealing option for many as bankruptcies look set to rise.

Base rate cut was a unanimous decision

The monetary policy committees decision to lower the base rate was unanimous, the Bank of England has revealed.

Christmas sales helping to stop debt

Britons could be facing a brighter Christmas financially thanks to seasonal sales, it has been claimed.

Borrowers face a tough year

The coming year could be a tough one for borrowers, it has been warned.

Difficult decisions for Bank of England

The Bank of England faces a year of difficult interest rate decisions, according to the Confederation of British Industry.

IVA plans backed by banks

The British Bankers Association reveals it is to support plans to see high street banks engage with the provision of individual voluntary arrangements (IVAs).

Credit card customers should be given examples

A likely repayment schedule should be given to prospective credit card customers before they sign up to a deal, it has been suggested.

PPI is not just for Christmas

Payment protection insurance (PPI) is generally not available to seasonal workers such as Santa, an expert warns.

Banking Code will not end age discrimination

A new version of the Banking Code is not to outlaw discrimination on the grounds of age, it has emerged.

Lenders respond to rate cut

A number of major lenders have responded to the Bank of Englands decision to lower interest rates by passing the saving on to their customers.

Base rate cut could benefit those in debt

Britons in debt could be breathing a collective sigh of relief following the Bank of Englands move to reduce the base rate to 5.5 per cent, it has been claimed.

Bank of England lowers base rate to 5.5 per cent

The Bank of England has lowered the base rate of interest to 5.5 per cent - as economists predict a year of such cuts.

One in ten personal loans removed

A tenth of all personal loan products were withdrawn by lenders over the course of November, it has emerged.

Cut the base rate, say mortgage professionals

A number of participants in the mortgage market are calling for a reduction in the base rate at this Thursdays meeting of the monetary policy committee.

UK house prices could drop further

Following recent marginal decreases in house prices, economists predict that the tightening of credit conditions could squeeze further before relaxing.

Interest rates could be held further

The Bank of England appears unlikely to lower interest rates, in spite of a number of recent economic crises, it has been claimed.

Virgin named as preferred bidder for Northern Rock

Northern Rock reveals it considers the proposed buyout deal from Virgin Money to be the best solution to its current liquidity crisis.

Northern Rock repossesses quickly

Holders of mortgages with troubled high street bank Northern Rock should be aware that the institution is quick to repossess property, according to a financial charity.

Credit crunch making borrowing more costly

The fallout from the credit crunch is making borrowing more expensive for many Britons, an expert claims.

PPI important for credit card borrowers

Credit card users should consider obtaining payment protection insurance (PPI), it has been suggested.

Lenders must act responsibly, urges Citizens Advice

Consumer assistance service Citizens Advice has blamed lenders for allowing Britons to reach untenable levels of debt.

Bank of England votes to hold base rate

The Bank of Englands monetary policy committee has voted to maintain the base rate of interest.

More PPI disputes seen by Ombudsman

The number of complaints made about payment protection insurance (PPI) is increasing, according to the Financial Ombudsman Service.

Secured loans less hit by credit crunch

The credit crunch is to have less of an immediate effect on loans secured against property, according to the Bank of England.

Britons not arranging life cover

There is a £2.3 trillion protection gap for Britons who have no life insurance, according to Sainsburys Bank.

Emergency lending nearly at £13bn

The Bank of England has lent nearly £13 billion through its short-loan facility, it has emerged.

Rate drop could come next month

The base rate of interest could fall as early as November, it has been claimed.

Bank of England maintains base rate

The Bank of England has voted to maintain the current base rate of interest at 5.75 per cent.

FSA: Mixed progress on PPI

Financial services providers are failing to make the required headway in making payment protection insurance (PPI) fair, it has been claimed.

Rate cut could come before Christmas

Britons could expect to see an interest rate cut in the run-up to Christmas, it has been suggested.

Student debt helps in future

Becoming accustomed to debt while at university helps graduates to apply for credit cards and loans later in life, it has been claimed.

Unsecured loans less widely available

The availability of unsecured loans is decreasing, according to a Bank of England survey.

CML suggests new way to compare loans

A new way of calculating headline interest rates has been suggested by the Council of Mortgage Lenders (CML).

Base rate maintenance vote was unanimous

The nine members of the Bank of Englands monetary policy committee (MPC) all voted to maintain the base rate at 5.75 per cent this month, it has emerged.

Northern Rock customers drain savings accounts

Hundreds of Northern Rock customers queued for hours to empty their savings accounts this weekend, it has emerged.

Northern Rock accesses BoE support fund

The Bank of England has lent financial assistance to Northern Rock at the request of Alistair Darling, it has emerged.

Headline rates aimed at best buy tables

Many of the interest rates offered on banks primary services are aimed solely at achieving a favourable ranking in best buy tables, according to Nationwide.

Long-term US sub-prime crisis could impact UK mortgages

The US sub-prime mortgage crisis could impact on UK mortgages if it extends over the long-term, it has been warned.

Britons should consider switching finances

Consumers could stand to benefit financially from reviewing which products they currently have, it has been advised.

£1.6bn emergency loan for Barclays after glitch

Barclays turned to the Bank of England for a £1.6 billion emergency loan following a "glitch" last week, it has emerged.

Lending to friends can be damaging

There may be unforeseen damage caused by providing handouts to friends, an expert cautions.

Personal loan advertising must not mislead

Personal loan advertisements must not carry misleading statements relating to payment protection insurance (PPI) and other products, it has been urged.

Secured loans supporting UK economy

The UK would technically be bankrupt if it were not for secured loans, it has been advised.

Interest rates decision was unanimous

The Bank of England unanimously voted to maintain interest rates at its August meeting, it has been revealed.

Credit rating must be reasonable for unsecured loans

Britons seeking unsecured loans must have a "reasonable" credit rating, it has been advised.

Mortgages not the only debt for buyers

Many homeowners incur debt beyond their mortgages when moving house, it has emerged.

Study of unsecured loan PPI sales applauded

A Which? study of payment protection insurance (PPI) mis-selling has been applauded by the Post Office.

Post Office welcomes Capital One fines

Post Office has stated that fines levied against Capital One are "welcome news".

BoE inflation report shows trend towards secured loans

Britons are becoming more likely to borrow money via secured loans, according to the Bank of Englands (BoE) latest inflation report.

Alliance & Leicester suggests personal loan for Valentines exes

Financial services provider Alliance & Leicester has recommended a personal loan to those suffering money troubles following a break-up.

Northern Rock updates unsecured loan rate

Northern Rock has revealed that the interest rate for its unsecured loans is to stand at 6.5 per cent typical APR from February 2007.

Alliance & Leicester: £285m wasted on personal loans

The amount "wasted" on uncompetitive personal loans from high street banks may be as much as £285 million, according to Alliance & Leicester.

Post Office urges borrowers to compare loans protection

Post Office is encouraging borrowers to compare loans to see if they could get a better deal on their payment protection insurance.

Zopa urges customers to compare loans

Online marketplace Zopa is urging its users to compare loans in order to secure the best deal in 2007.

AA Personal Loans highlights regional car habits

New research from AA Personal Loans has found that region has a variety of impacts on car driving habits.

Alliance and Leicester finds drop in unsecured loan borrowing

The unsecured loan market has slowed, according to Alliance and Leicester, which has just published its new borrowing thermometer.

Strong loan market buoys Northern Rock performance

Loan provider Northern Rock has announced strong trading figures in spite of increased interest rates.

Car dealer finance warning from Alliance & Leicester

New research from Alliance & Leicester has warned car buyers of the dangers of opting for car dealer finance.

New loan deal offered by first direct

Customers who agree a loan with first direct over the coming weeks can take advantage of a tempting offer.

Loans help pay school fees, reports Sainsburys Bank

Increasing numbers of parents are looking to loans to help finance their childrens education, according to research from Sainsburys Bank.

Doorstep lenders face interest rate cap

A number of MPs have backed plans to put a cap on the interest rates charged by doorstep lenders.

Northern Rock says re-mortgaging is up

Loans company Northern Rock has reported an increase in borrowing over the first half of the year, it has announced today (July 25th).

Lloyds TSB economist forecasts strong property market

A senior Lloyds TSB economist has commented on the current interest rate rise uncertainty and consumer confidence.

Doorstep credit investigation findings welcomed

The National Consumer Council (NCC) has welcomed the Competition Commissions initial investigation findings into the home credit market.

Best buy tables reveal benefits of the smaller loans players

Consumers could find the best loans from using internet comparison sites to check all providers, rather than just assuming more well-known banks are the best bet.

Extra consideration advised for loans

Consumers considering taking out loans have been advised by the Citizens Advice Bureau (CAB) to consider the long term ramifications and not just the short term benefits.

Potential car owners urged to consider loans

Low cost loans could be the most beneficial way to purchase a car, according to Alliance & Leicester (A&L).

Online tools advised for loan advice

Using online tools could help people to choose the loan that is most suitable for them, industry experts have claimed.

Significant savings for loan-savvy consumers

People willing to shop around for their loans could benefit from significant savings, according to Alliance & Leicester (A&L).

Bigger loans can be cheaper

Larger loans often offer far better interest rates than smaller amounts, according to a new report.

Loans: High street providers not necessarily best

Shopping around for loans could prove to be more beneficial than opting for a high street provider, according to Alliance & Leicester (A&L).

Loans more beneficial than credit cards

Consumers have been advised that taking out a loan may prove to be more financially beneficial than paying off their credit cards.

Lesser-known loan providers financially beneficial

Shopping around online for a loan could be more beneficial than sticking with the traditional high street banks, according to Alliance & Leicester (A&L).

Loans more beneficial than credit cards

Loans should be considered when making large purchases, according to Alliance and Leicester.

Interest rates hold

The Bank of England has decided to keep interest rates at 4.5 per cent.

Brits dont care about debts

New research has uncovered the fact that many Britons do not care if they are in debt.

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