Since the beginning of October last year, the Bank of England has reduced the interest base rate on homeowner loans by 3.5 per cent.
In practical terms, this means that a borrower who has an average sized homeowner loan of £150,000 and is benefiting from the full amount of the rate reduction, through opting for a [...]
We have reported on a number of occasions about payment protection insurance (PPI) and mortgage payment protection insurance (MPPI), emphasising the importance of this type of plan for anybody who may have outstanding debts on a homeowner loan, credit card or personal loan.
PPI policies are designed to cover the monthly repayments on an individual’s loan, [...]
Over the past few months, the monetary policy committee of the Bank of England have reduced the base rate of interest on homeowner loans and mortgages by a staggering 3.5 per cent, so that the base rate now stands at only 1.5 per cent, the lowest in the history of the Bank of England.
As the [...]
We are all painfully aware of just how much new secured loan applications suffered over the course of last year following the impact of the effects of the credit crunch.
The major high street banks and building societies severely restricted their lending criteria, due to suffering problems with their own liquidity and it has become much [...]
Once the festivities of Christmas have finally passed and the last of the turkey has eventually been eaten, many individuals wake up at the beginning of January with a double hangover, one from the excess of drink, the other one when they receive their bank statements and credit card bills and realise just how much [...]
It would seem that the effects of the credit crunch and the economic slow down in the UK are continuing to make themselves felt across the country as many borrowers are finding it increasingly difficult to keep up to date with the repayments on their homeowner loans and mortgages. And the level of loan arrears [...]
Staff working at the nationalised bank Northern Rock, are to receive a bonus on their salaries of ten per cent this week, for meeting targets on their Government loan repayment, it has been announced.
Northern Rock was the first of many high street banks to get into financial difficulty at the beginning of the credit crunch [...]
