Loan News For February 2007
- UK consumers could make claims for unfair mortgage charges
A recent investigation carried out into unfair charges levied by mortgage companies when consumers close their mortgages has resulted in many consumers in the UK being able to claim up to £220 each for unfair charges that were applied them by mortgage companies. [26.02.07]
- Barclays looks set to make a move against rising bad debt level
Recent figures have shown that banks in the UK have been hit hard within rising bad debt levels, with many seeing profits fall dramatically as a result of those that are unable to keep up with financial commitments such as credit card and loan repayments. [26.02.07]
- Further costs to face for struggling homeowners
Over recent months homeowners that are still paying off the mortgage loans on their properties have been hit three times with interest rate rises, with the Bank of England taking rates from four and a half percent last August to five and a quarter percent this January – and with further rises predicted in the imminent future. [24.02.07]
- Is another Bank of England interest rate hike on the cards?
Following several interest rate rises from the Bank of England since August 2006, experts are now predicting another rise in Spring – one that could come as early as next month [23.02.07]
- The interest free loan to aid surgical perfection
Recent reports indicated that many people were getting themselves into high levels of debt in order to fund surgical procedures to improve themselves, such as face lifts, nose jobs, and rummy tucks, with men identified as being the major players in this field. [22.02.07]
- Don't be tempted by cash back loans
With competition rife between the growing number of lenders offering secured and unsecured loans to UK consumers, experts are warning that consumers should be careful not to get duped into taking out a loan because of what might seem like a tempting offer. [21.02.07]
- Unsecured borrowing popular for home improvements
Once the Christmas and New Year period is over many people in the UK start to think about home improvements to spruce their homes up ready for the spring and summer.[20.02.07]
- Brits are continuing to borrow despite having consolidated their debts
Research recently undertaken my moneysupermarket.com found that 13 million Brits had recently chose to consolidate their debt with a personal loan. However, of these, 8.5 million then elected to continue borrowing on the credit cards and overdraft facilities they had just consolidated with the personal loan. [19.02.07]
- Unsecured borrowing takes a fall
According to a recent survey undertaken by Lloyds TSB Internet, more than two-thirds of Brits prefer to do their banking online. 68 percent of respondents to the survey answered that they now conducted the majority of their banking transactions over the Internet. [17.02.07]
- Huge surge in UK buy-to-let mortgages
According to the latest figures released by the UK's Council of Mortgage Lenders (CML), the UK buy-to-let property sector saw a huge growth in popularity 2006. Throughout this period, 330,000 new investors took out buy-to-let mortgage in the UK: worth a cumulative total of £38.4 billion [16.02.07]
- RICS state first time buyers to suffer due to interest rates
A report that was issued very recently has confirmed what many people already suspected – that those due to take the hardest hit from the recent interest rate hikes will be first time buyers. [10.02.07]
- Bank of England leaves interest rates on hold for now
Amidst rising consumer concerns over the possibility of another interest rate hike this month in the UK, the Bank of England has announced that it is going to keep the interest rate on hold for now and take a 'wait and see' stance before making any decision with regards to a fourth interest rate rise since August last year. [10.02.07]
- British couples willing to pay an average £18,490 to get married
As new survey report by wedding insurers Weddingplan shows the average cost of a couple getting married in the UK are now risen to £18,490. The most expensive individual items on the wedding day expense list are the honeymoon, which will run the average Brit to slightly under £5,750, and the wedding reception, which costs the average couple in the UK approximately £5,500
- Nearly half of FTB incomes used to make mortgage repayments
According to the results of a recent report many first time buyers in the UK are spending around forty percent of their net salary on making mortgage repayments.
- Unfair mortgage fees could mean consumers can claim
Millions of consumers in the UK could be entitled to claim around two hundred and twenty pounds each in the way of mortgage fee refunds after the decision was made by the Financial Services Authority to tackle mortgage fees that have deemed unfair. [04.02.07]
- Can consumers pocket the difference with an Asda loan?
There are many different loans on offer these days for UK consumers, and the range and type of lender that is able to offer this type of facility over recent years has really grown. [02.02.07]
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