Some consumer groups are warning consumers to beware of taking out so-called “payday” loans unless they are fully aware of the terms of these loans and are able to pay them back right away. Such loans are meant to be a short-term solution to being short of cash at the end of a pay period, [...]
New data from the British Bankers’ Association (BBA) on loans was mixed as loans to non-financial companies were down in October and credit card repayments were again higher than new credit card spending, but the number of new mortgages approved for house purchases and for remortgages were both up in October. The BBA said that [...]
The British Bankers’ Association said Tuesday that while gross mortgage lending was up in September, largely due to the buy-to-let market, but that the number of mortgages approved for house purchases were down in September to a three-month low of 33,130, fewer than the 35,069 granted n August. Approvals were down 6 percent from August [...]
Based on data showing that four times more people are in debt due to so-called “payday loans” now than there were two years ago, the Citizens Advice Bureau has said such loans are too easy to get and called for tighter regulation. Such loans are small, short-term, unsecured loans meant to hold the borrower over [...]
The Bank of England has reported that mortgage approvals in the UK were at their highest level in a year in July, with 49,239 loans for new home purchases approved during the month, although the gain was slight and remained at low levels historically. The number of mortgages approved in July compared to the 48,500 [...]
The British Bankers’ Association (BBA) has reported that lending in the UK was flat overall in July at £7.6 billion compared to June, although mortgage approvals were up by 4 percent from June. Mortgage approvals were also up slightly from July 2010 at, while remortgage approvals were up 7 percent in July from June and [...]
The Council of Mortgage Lenders (CML) has released new data showing that lending for home purchases was down 1 percent in July from June and was 6 percent below lending in July 2010. Gross mortgage lending was at £12.6 billion in the UK in July compared to £12.7 billion in June and £13.3 billion in [...]
Several large banks have said that they met goals for lending to small businesses overall, set under Project Merlin, in the first half of the year, according to figures released by the British Bankers’ Association. The banks – Lloyds Banking Group (LSE: LLOY), Barclays Bank (LSE: BARC), HSBC (LSE: HSBA), Banco Santander (BMAD: SAN; LSE: [...]
There is some controversy over a new credit offer from Barclays that would let customers transfer balances to a new card at zero percent interest for two years. The deal comes on the heels of a 20-month interest-free transfer offer from Halifax, while MNBA and Virgin Money both offer 19-months zero percent offers. The deal [...]
A new survey has found that 28 percent of small businesses that applied four loans were turned down outright last year, against only 4 percent reporting a flat rejection form lenders in 2007, before the financial crisis began. The research also showed that fewer banks were approving overdrafts by smaller businesses, with 72 percent approved [...]
