The sale of the previously nationalised bank Northern Rock to Virgin Money has now completed, it has been confirmed recently, which many hope will bring a breath of fresh air and increased competition to the banking, homeowner loan and personal loan sector of the finance industry.
The sale of Northern rock to Virgin was initially agreed [...]
Virgin Money has just agreed a deal with the government to buy the nationalised bank and loan provider Northern Rock, for an initial sum of £747 million, in a deal which the government considers to be the best option for the UK and for the bank itself.
Northern Rock was the first victim of the credit [...]
Since the credit crunch, the main high street banks in the UK have been particularly reluctant to offer loans of any kind to individuals, either as personal loans or even business loans to small and medium sized firms, despite government pressure to do so.
The majority of banks seem to have been more concerned about restoring [...]
Since the effects of the credit crunch and banking crisis hit the UK, consumer satisfaction with the main high street banks in the country has plummeted, as many of them still seem to charge high prices, but only provide a particularly low level of customer service.
Many individuals blame the banks for the credit crunch and [...]
When it comes to offering new loans to individuals, one of the biggest problems which has faced banks and building societies over the course of the past few years, has been that of raising sufficient funds in order to be able to offer the loans in the first place.
Prior to the credit crunch, many lenders [...]
Following several months of slow growth for people taking out new home owner loans and mortgages, July saw the amount of new gross lending from banks on home owner loans increase by 4.1 per cent. This figure has increased by more than four times since the month of June, when gross lending only increased by [...]
It probably won’t come as much of a surprise to many readers that a new survey into people’s satisfaction with the main high street banks in the UK, has found that the majority of banks are falling well short of what is expected of them from their customers.
The survey, which has been conducted by Which? [...]
