The credit crunch and economic slow down has caused huge financial problems for many individuals in the UK over the past couple of years, as their income has dropped whilst at the same time their debts on personal loans, credit cards and overdrafts has continued to increase, leaving many borrowers unable to keep up with [...]
Over the course of the past couple of years, several big name high street banks and building societies have been bailed out with loans from the Government in order to keep them afloat, following massive losses by the various institutions caused by arrears and defaults on bad credit loans which had previously been issued by [...]
Everybody knows that the major high street banks in the UK have been going through a difficult time over the past couple of years or so, due to the effects of the credit crunch and lack of available funding on the wholesale money markets.
However, it seems that very few onlookers and consumers have any sympathy [...]
It would appear that although the major high street banks in the UK are claiming that they are increasing the number and amount of new loans to small and medium sized businesses, they seem to be the only ones who believe that is the case, as an increasing amount of pressure is being placed on [...]
When an individual applies for a personal loan or a homeowner loan, the more sensible borrowers, who are concerned about their financial security, usually take out some type of Payment Protection Insurance (PPI), which is designed to cover the cost of the monthly loan repayments for one or two years in the event of the [...]
We reported last week on how the government was concerned about the figures from the major high street banks regarding the low number and amount of new loans they have offered, particularly to small and medium sized businesses.
The Chancellor of the Exchequer, Alistair Darling, held a meeting with banking bosses last week, during which he [...]
