Category: Loans
A Common Sense Guide To Loans
Loans are issued by banks and other financial companies. They allow you to borrow a fixed amount of money, which you then pay back in instalments over an agreed period of time. This could be anything from 12 months to five years typically, although longer repayment periods are offered on some loans. You’ll pay back [...]
Low Interest Rates Means The Cost Of Borrowing Is Cheaper
With interest rates at an all-time low and set to stay that way for another year or maybe two, the cost of borrowing is cheap and getting cheaper. While many Britons are rightly focused on paying off their existing debts, if you need cash to buy a car, get on the property ladder or pay [...]
IMF – New Bailout Loans Worth €1.5bn Approved
The IMF has confirmed the release of almost €1.5bn of new bailout funding, with some positive analysis of the shape of Ireland’s economic recovery. In a statement published last night, marking the end of the third review of the bailout programme, the IMF acknowledged the government’s progress in implementing austerity measures in Ireland, and its [...]
Royal Bank of Scotland Blocks Customers From Using Rivals ATMs
Fears of a cash machine war have grown after Royal Bank of Scotland blocked thousands of customers from using rivals’ ATMs. Customers of RBS and subsidiary NatWest who have no-frills basic bank accounts will be able to draw cash only from the bank’s own machines. RBS has just over 8,000 cash machines in its network, [...]
How Much Tax Are You Really Paying?
Basic rate taxpayers are losing up to 40p in the pound to the Inland Revenue, according to a report that lays bare the true burden of taxation. Headline rates of income tax are hiding the real amount that hard-working Britons hand over to the Chancellor, it claims. When National Insurance contributions are added in, the [...]
Average Mortgage Fees Up By 20%
Mortgage fees have rocketed by nearly 20 per cent over the past year, research has revealed. The average arrangement fee has soared to more than £1,000, while the highest such fee is an eye-watering £3,800. Research by mortgage price comparison website Moneyfacts found the average charge has jumped by £151 over the past year to [...]
Middle- Incomers Earners Turning To Payday Loans To Make Ends Meet
Thousands of middle-income earners are turning to backstreet payday loans to make ends meet after being deterred by the High Street banks. Around 57?pc of the customers for one leading payday loan company are people earning between £25,000 and £50,000 — well above the national average wage. They are being forced away from more traditional [...]
Boost For Borrowers As Mortgage Rate Falls
Borrowers got a boost this week when building society Nationwide became the latest lender to cut its fixed mortgage rates. The UK’s third biggest lender is reducing all five-year fixed mortgage rates by 0.1 per cent and all two-year tracker rates by 0.15 per cent. This means the five-year fix will be offered from as [...]
“Generation Rent” – First Time Buyers Continues To Struggle In Gaining Ownership
A study by the ‘National Centre for Social Research’ of 8,000 people between 20 and 45 has shown nearly 50 percent of people believe they will be renting for their entire lives. Nearly 80 percent of people in that age group have not yet managed to get on the housing ladder. Statistics like these point [...]
Avoid Using Personal Loans And Credit Cards To Finance Your Businesses
Atlantic Financial Management is cautioning small business owners and sole traders in the UK against using personal loans and credit to shore up their business finances in the absence of lending support from the banks. The release of the Q2 Insolvency figures is expected to confirm the financial stress being faced by the UK’s small [...]
