High loan to value ratios on mortgages and homeowner loans are becoming quite scarce, as banks and building societies continue to withdraw their products from the market place and reduce the level of risk they are prepared to take on any kind of loan.
Since the beginning of the credit crunch last year, there has been [...]
Since the start of the credit crunch last year, consumers living in the UK have bee advised to batten down the hatches, cut back on unnecessary spending and focus on reducing their levels of debt on loans and credit cards and increase their savings in order to provide for an emergency fund to see them [...]
During these troubled financial times which we are currently experiencing due to the ongoing effects of the credit crunch, it is vitally important to keep a reign on the purse strings, not spend money on unnecessary items and ensure that we are all getting the best deal that we possibly can on our personal loans [...]
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 [...]
With the turmoil in the money markets and UK banking system over the past few weeks, along with the continuing slow down in the economy and struggling housing and loan markets, there is an increasing amount of pressure being placed on the Bank of England to cut the base rate of interest sooner than was [...]
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 [...]
You may have read on a number of occasions over the past few months a little into the ongoing saga that is sale and rent back schemes.
These are schemes whereby a home owner who may be struggling with the repayments on their mortgage or homeowner loan is able to sell the property to a company [...]
