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....”. The 60-year-old company, which faces about $400m of debt repayments in 2018, said it had secured about $3bn of financing from various lenders, including a JP Morgan-led bank syndicate, to keep its stores open as usual as it approaches its key Christmas selling period. ... [Read full article on Guardian ]
Tuesday 19th of September 2017 07:35:56 AM
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....Bailey told the Guardian he had visited debt charities across the UK and that many people were facing difficulties with“frontline debt” such as council tax and utility bill arrears. He said organisations extending that kind of credit were often faster to recoup their losses, which can involve bailiffs, court orders and repossessions, than traditional lenders. ... [Read full article on Guardian ]
Monday 18th of September 2017 05:34:39 PM
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.... Crucially, he has also put a note on his credit file that states that if his signature is required for any financial product or service, it must be authenticated by his thumbprint. Any application for credit in his name that doesn’t carry his thumbprint must be turned down by the lender, the note says. ... [Read full article on Guardian ]
Saturday 23rd of September 2017 06:00:08 AM
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.... Some people haven’t opened letters for months or even years, and as a result small mistakes, such as a parking ticket or traffic violation, have taken on a life of their own in the court system. Overdue household bills turn out to be the tip of a debt iceberg and, as the call progresses, the names of lenders change from well-known high street banks and retailers to esoteric brands targeting borrowers with poor credit ratings with high-interest products. ... [Read full article on Guardian ]
Wednesday 20th of September 2017 11:48:39 AM
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....The Bank of England is aware of the risks and has been issuing ever-more explicit warnings about debt as the summer has worn on. One of Threadneedle Street’s senior officials told lenders in July that they were dicing with a spiral of complacency by encouraging people to borrow money they might not be able to pay back. ... [Read full article on Guardian ]
Monday 18th of September 2017 05:26:02 PM
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. Illegal loan sharks are still chasing some of the most vulnerable families in Britain, according to the UK’s second-biggest doorstep lender. ... [Read full article on Guardian ]
Wednesday 20th of September 2017 11:48:20 AM
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....The National Leasehold Campaign, which has thousands of members on Facebook who are victims of spiralling ground rents, said it was concerned that developers would switch from leasehold to “fleecehold”. Jo Darbyshire of the campaign group said: “In anticipation of the outcome of the government’s consultation on leasehold reform big developers are now advertising homes as ’freehold’ but further examination shows that they sell the houses and land in two separate transactions with the transfer of the land containing exactly the same permission fees as the leases used to (eg charges to make home alterations, change mortgage lender, etc). ... [Read full article on Guardian ]
Thursday 21st of September 2017 01:17:20 PM
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....A Yes, I do think you have a chance of getting a joint mortgage after next summer, so I don’t think it is necessary to go for a cheaper property in your partner’s sole name. You are right in thinking that defaults on a credit file, which stay on it for six years, are one of the most common reasons for mainstream high-street lenders to refuse mortgage applications as they generally prefer to lend to people with squeaky clean credit records. ... [Read full article on Guardian ]
Monday 18th of September 2017 10:18:59 AM
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....5tn, by purchasing Treasury bonds and mortgage-backed securities under a programme dubbed quantitative easing (QE). Many were from the effectively bust Fannie Mae and Freddie Mac mortgage lenders. ... [Read full article on Guardian ]
Sunday 24th of September 2017 06:00:37 AM
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.... They never asked for any income to support it,” she said. Credit card lenders appear to be targeting people struggling with unaffordable levels of debt, according to research from the charity Citizens Advice, who helped Tracy to manage her problems. ... [Read full article on Guardian ]
Monday 18th of September 2017 05:27:02 PM
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.... For instance, they could halve that cost to 3. 5% on an ordinary unsecured bank loan from half a dozen high street lenders. ... [Read full article on Guardian ]
Tuesday 19th of September 2017 12:50:45 PM
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Latest Finance News related to Lender

Royal Bank of Scotland delays introduction of low-rate credit card image
Source : Guardian [Read Article] Sunday 24th of September 2017 02:40:36 PM
.... Last week, it launched a personal contract purchase (PCP) product, which is the most common deal for buying cars, for its NatWest current account customers. On Monday, the Bank of England will provide an update on its views about lenders’ activities in the fast-growing consumer debt market, having warned this year that it might have to use the announcement to unveil measures for tackling rising household borrowing. ...
The foolproof way you can stop ID fraud image
Source : Guardian [Read Article] Saturday 23rd of September 2017 06:00:08 AM
.... Crucially, he has also put a note on his credit file that states that if his signature is required for any financial product or service, it must be authenticated by his thumbprint. Any application for credit in his name that doesn’t carry his thumbprint must be turned down by the lender, the note says. ...
New figures reveal scale of controversial leasehold homes image
Source : Guardian [Read Article] Thursday 21st of September 2017 01:17:20 PM
....The National Leasehold Campaign, which has thousands of members on Facebook who are victims of spiralling ground rents, said it was concerned that developers would switch from leasehold to “fleecehold”. Jo Darbyshire of the campaign group said: “In anticipation of the outcome of the government’s consultation on leasehold reform big developers are now advertising homes as ’freehold’ but further examination shows that they sell the houses and land in two separate transactions with the transfer of the land containing exactly the same permission fees as the leases used to (eg charges to make home alterations, change mortgage lender, etc). ...
Tough calls: on the debt crisis frontline with charity StepChange image
Source : Guardian [Read Article] Wednesday 20th of September 2017 11:48:39 AM
.... Some people haven’t opened letters for months or even years, and as a result small mistakes, such as a parking ticket or traffic violation, have taken on a life of their own in the court system. Overdue household bills turn out to be the tip of a debt iceberg and, as the call progresses, the names of lenders change from well-known high street banks and retailers to esoteric brands targeting borrowers with poor credit ratings with high-interest products. ...
Loan sharks are circling, says one of UK's biggest doorstep lenders image
Source : Guardian [Read Article] Wednesday 20th of September 2017 11:48:20 AM
. Illegal loan sharks are still chasing some of the most vulnerable families in Britain, according to the UK’s second-biggest doorstep lender. ...
What's your experience of being in debt? image
Source : Guardian [Read Article] Tuesday 19th of September 2017 08:31:16 AM
....We’d like you to help us explore the subject of debt, from students who need to pay back loans to people who have big credit card bills. How much debt are you in? What form of debt is it? How did you get there? Have you used a pay-day loan? Do certain companies make it easier to owe a lot? How have you paid off student debt? What are your concerns? Do credit card lenders target people struggling with huge debt?. ...
Toys R Us files for bankruptcy in US and Canada image
Source : Guardian [Read Article] Tuesday 19th of September 2017 07:35:56 AM
....”. The 60-year-old company, which faces about $400m of debt repayments in 2018, said it had secured about $3bn of financing from various lenders, including a JP Morgan-led bank syndicate, to keep its stores open as usual as it approaches its key Christmas selling period. ...
Britain's debt time​bomb: FCA urges action over £200bn crisis image
Source : Guardian [Read Article] Monday 18th of September 2017 05:34:39 PM
....Bailey told the Guardian he had visited debt charities across the UK and that many people were facing difficulties with“frontline debt” such as council tax and utility bill arrears. He said organisations extending that kind of credit were often faster to recoup their losses, which can involve bailiffs, court orders and repossessions, than traditional lenders. ...
'They just kept topping it up' – how one credit card user fell £28,000 in debt image
.... They never asked for any income to support it,” she said. Credit card lenders appear to be targeting people struggling with unaffordable levels of debt, according to research from the charity Citizens Advice, who helped Tracy to manage her problems. ...
UK debt is explosive – and it only needs a spark to light the fuse | Larry Elliott image
....The Bank of England is aware of the risks and has been issuing ever-more explicit warnings about debt as the summer has worn on. One of Threadneedle Street’s senior officials told lenders in July that they were dicing with a spiral of complacency by encouraging people to borrow money they might not be able to pay back. ...
How bad is a credit record default for a mortgage application? image
Source : Guardian [Read Article] Monday 18th of September 2017 10:18:59 AM
....A Yes, I do think you have a chance of getting a joint mortgage after next summer, so I don’t think it is necessary to go for a cheaper property in your partner’s sole name. You are right in thinking that defaults on a credit file, which stay on it for six years, are one of the most common reasons for mainstream high-street lenders to refuse mortgage applications as they generally prefer to lend to people with squeaky clean credit records. ...
How to find the best remortgage rates and beat the rise image
Source : Daily Express [Read Article] Sunday 17th of September 2017 12:34:00 PM
....Remortgaging to a cheaper deal can save you thousands of pounds a year and fix your borrowing costs at a low rate for two, five or even 10 years. Now could be the perfect time to see if you could get a better deal on any remaining mortgage debt, with big potential savings for those paying over the odds on their lender’s standard variable rate (SVR). ...
Mortgage warning: YOUR bill could SURGE by £750 when interest rates increase, experts say image
....25 per cent to 0. 5 per cent, according to lender Freedom Finance. ...
UK interest rate rise – what it could mean for savers and mortgage holders image
....It is deals such as this that may help explain why, as the banking industry trade body UK Finance said this week, the number of people remortgaging is at its highest since 2009. Fixed-rate mortgage deals are a type of product where, arguably, the old “buy now while stocks last” salesman’s spiel does apply, because talk of interest rate rises is often followed by lenders repricing their fixed deals upwards. ...
End austerity – and kickstart Martin Luther King’s revolution of values | Richard Kozul-Wright image
....By contrast, finance has been in euphoric mood. Its expansion from the early 1980s, resulting from market deregulation and enhanced by the reach of information technologies, spawned a myriad of new products to entice lenders and extended credit into every corner of economic and social life. ...
Former Northern Rock investors ask Theresa May for compensation image
Source : Guardian [Read Article] Thursday 14th of September 2017 10:33:38 AM
. Former shareholders in Northern Rock are asking Theresa May to listen to their moral case for compensation after their investment in the Newcastle-based lender was wiped out when it was nationalised 10 years ago. ...
Darling: Brexit would not have happened without banking crisis image
Source : Guardian [Read Article] Wednesday 13th of September 2017 12:16:45 PM
....The UK would not have voted for Brexit had it not been for the banking crisis that began 10 years ago with the run on Northern Rock, according to the former chancellor Alistair Darling. Lord Darling admitted the Labour government “lost control” for a few days around this time 10 years ago when customers were queuing outside branches of the lender to withdraw their cash, and said the consequences were still being felt today. ...
UK's high street banks are accident waiting to happen, says report image
Source : Guardian [Read Article] Tuesday 12th of September 2017 11:01:48 PM
....The report criticises the annual health checks – stress tests – that have been conducted by the Bank of England since the crisis and concludes that the methodology used by Threadneedle Street is flawed and the tests not gruelling enough. Queues started to form outside Northern Rock branches across the UK on 14 September 2007 after the BBC reported that the Newcastle-based lender had received emergency funding from the Bank of England. ...
PR execs behaving badly... What else would you expect? | Catherine Bennett image
Source : Guardian [Read Article] Saturday 9th of September 2017 11:04:21 PM
....Even with his recent olfactory trouble, Bell has yet to retract an ethical position he advanced at a legendary PR event held, naturally, in Dubai: “Everyone has the right to representation. ” If this argument tends to align PRs’ less fragrant clients, unflatteringly, if not always inaccurately, along with accused serial murderers entitled to legal representation, it seems to have caught on, possibly because it also elevates PRs for payday lenders to the status of disinterested, highly trained human rights professionals, pretty much indistinguishable from Amal Clooney. ...
FCA must backtrack over Saudi oil giant Aramco | Nils Pratley image
Source : Guardian [Read Article] Thursday 7th of September 2017 11:01:23 PM
....Everybody knew AstraZeneca’s shares were bound to move 10% or more, up or down, depending on the result of the Mystic lung cancer trial. As for Provident Financial, surely nobody expects a quiet life from a doorstep lender making high-interest loans. ...
House prices hit record high as market shakes off Brexit doom-mongers image
Source : Daily Express [Read Article] Thursday 7th of September 2017 08:54:00 AM
....1 per cent last month, taking annual growth to 2. 6 per cent, as measured by lender Halifax. ...
UK house prices rising amid shortage of properties, says Halifax image
Source : Guardian [Read Article] Thursday 7th of September 2017 08:42:06 AM
. UK house price growth unexpectedly picked up last month, underpinned by strong employment growth and a shortage of properties on the market, according to Britain’s biggest mortgage lender. ...
Government should cut Bank of Ireland out of Post Office bank, says report image
Source : Guardian [Read Article] Wednesday 6th of September 2017 11:01:44 PM
.... The plan could also represent a return to the days of the old Giro Bank, a “people’s bank” started by Harold Wilson in the 1960s through the Post Office but later sold off by Margaret Thatcher in the late 1980s. Creating a bank would offset the closure of branches by major high street lenders such as Royal Bank of Scotland and Lloyds, while also helping small firms to access financial services, according to the Cass study. ...
The debt trap: how the student loan industry betrays young Americans image
Source : Guardian [Read Article] Wednesday 6th of September 2017 10:00:28 AM
.... Meanwhile, it’s in the running to oversee the Department of Education’s entire student debt web portal, which would open even more avenues for the company to profit from – and expand its influence over – Americans’ access to higher education. The federal government is the biggest lender of American student loans, meaning that taxpayers are currently on the hook for more than $1tn. ...
Help-to-buy scheme aids some buyers, but boosts builders even more | Nils Pratley image
....Before ministers commit to renewing help to buy on the same terms, they should recall the warning by Lord King, former governor of the Bank of England, in 2014: “This scheme is a little too close for comfort to a general scheme to guarantee mortgages. We had a very healthy mortgage market with competing lenders attracting borrowers before the crisis, and we need to get back to that healthy mortgage market . ...
Can I buy a house for my mum to live in rent-free? image
Source : Guardian [Read Article] Monday 4th of September 2017 09:26:14 AM
.... Typically, if you have a sufficiently large deposit and the rent can cover the mortgage repayment by 125% your application will be accepted. According to Niche Advice, however, the “key driver” of the two lenders that offer regulated buy-to-let mortgage is applicants’ affordability rather than rental income, and they are likely to insist the mortgage is repayment rather than interest-only, in line with the rules for residential mortgages. ...
We’re addicted to debt and headed for a crash. It could be worse than 2007 | Zoe Williams image
.... The real problem with debt is that there is just too much of it. Provident, incidentally, told a different story about its doldrums: it had dallied with some automation – replacing doorstep lenders with iPads – and it didn’t come off. ...
Debt mess leaves innocent bystander struggling with system  image
Source : Daily Express [Read Article] Monday 4th of September 2017 12:01:00 AM
....It turned out to be from agency Pastdue Credit Solutions chasing £588. 60 on behalf of its client, payday lender Wonga. ...
Former Provident Financial chief forfeits £4m after profit warning image
Source : Guardian [Read Article] Friday 1st of September 2017 05:56:36 PM
. The former chief executive of Provident Financial is to forfeit pay and bonuses worth up to £4m after last week’s shock profit warning that sent the doorstep lender’s shares into a tailspin. ...
Doorstep lender Morses swipes customers from troubled rival Provident image
Source : Guardian [Read Article] Thursday 31st of August 2017 01:33:07 PM
. Britain’s second-largest doorstep lender has recorded a big increase in lending after poaching customers and agents from rival Provident Financial. ...
Rapid rise in personal borrowing is cooling, says Bank of England image
Source : Guardian [Read Article] Wednesday 30th of August 2017 11:19:35 AM
....6% in July, leading to negative earnings growth. The figures come as research from Citizens Advice suggests credit card lenders may be targeting people struggling with unaffordable levels of debt, a practice that it said Britain’s financial watchdog should ban. ...
Arnold Schwarzenegger joins call to act over mis-sold PPI before deadline image
Source : Daily Express [Read Article] Wednesday 30th of August 2017 09:55:00 AM
....". Two years may seem like a long way off but it is important to act now, Lyon added: "If you think you have been mis-sold a policy speak to your lender. ...
Credit card lenders 'targeting people struggling with debt' image
Source : Guardian [Read Article] Tuesday 29th of August 2017 11:01:11 PM
. Credit card lenders appear to be targeting people struggling with unaffordable levels of debt, according to a new report calling on Britain’s financial watchdog to intervene. ...
Does the help-to-buy scheme really offer the best rates? image
Source : Guardian [Read Article] Tuesday 29th of August 2017 01:26:11 PM
.... Is this true? MS. A No – quite the reverse judging by the mortgage lenders I’ve looked at. ...
House price fall renews concern over cooling UK economy image
Source : Guardian [Read Article] Tuesday 29th of August 2017 07:15:43 AM
....Samuel Tombs, chief UK economist at the consultancy Pantheon Macroeconomics, said the slowdown in house price growth reflected the squeeze on real wages (adjusted for inflation) and the slowdown in the pace that mortgage rates are falling. “Prices likely will continue to struggle to rise much, given that inflation still has further to rise, consumer confidence has deteriorated sharply since June and lenders intend to reduce the supply of unsecured credit. ...
City pay still out of proportion a century after JM Keynes complained image
Source : Guardian [Read Article] Sunday 27th of August 2017 06:00:02 AM
.... The regulator is trying to mop up the last victims of the UK’s biggest mis-selling scandal and is acutely aware that major banks are still sitting on billions in unpaid compensation. The big four lenders – HSBC, Barclays, RBS and Lloyds – have about £6. ...
Millions of Brits sitting on forgotten pension pots worth £800bn image
Source : Daily Express [Read Article] Sunday 27th of August 2017 12:01:00 AM
.... . Elsewhere, City observers believe that star fund manger Neil Woodford’s torrid run of setbacks, the latest of which is his disastrous bet on sub-prime lender Provident Financial, is down to him stretching himself too thinly and investing in areas that he is unfamiliar with. ...
Going up or digging deep, how to finance a home extension image
Source : Guardian [Read Article] Saturday 26th of August 2017 05:59:28 AM
....Growing numbers of homeowners are building upwards or digging down to create more space because they can’t afford to move to a bigger property. But what are the options for financing this work? Should you remortgage, ask to borrow more from your existing lender or take out a personal loan?. ...
How to reclaim mis-sold PPI for free image
Source : Guardian [Read Article] Friday 25th of August 2017 10:21:29 AM
.... Go back through all your old loan and mortgage statements and check for any mention of an insurance to cover your payments if you lost your job through accident, sickness or unemployment. If you don’t have them or simply cannot remember which lenders you’ve borrowed from, check your credit report. ...
Provident appoints new consumer credit boss in bid to stabilise business image
. Provident Financial, the troubled doorstep lender, has drafted in the former head of its consumer credit arm in a bid to stabilise the business after its debt collection rates plunged. ...
Financial deregulation: will the US really go back to a pre-crisis free-for-all? | Howard Davies image
....It would be unfortunate if the Fed’s opposition to change prevented a debate on whether, 10 years on, every one of the changes made – often in a tearing hurry – make sense, both individually and collectively. After all, many changes in the competitive environment within which banks operate – new payment systems, peer-to-peer lenders, shadow banks and the rest – require careful analysis and thought. ...
Going underground: number of Britons digging basements soars image
Source : Guardian [Read Article] Wednesday 23rd of August 2017 05:01:05 AM
....Britain has seen a 183% increase in planning applications for basement extensions, as homeowners barred from climbing the housing ladder by high prices decide to burrow down instead. The number of loft conversions has also risen dramatically, according to mortgage lender Halifax, in a bid to circumvent a soaring property market. ...
UK is briefly in the black – but fixing the public finances will take time | Larry Elliott image
....Eric Daniels was running Lloyds Bank when it received a £20bn bailout from the UK taxpayer in 2008. The 66-year-old American was chief executive when the high street lender was up to its neck in the protection payment insurance scandal, the mis-selling of which has so far cost Lloyds £18bn in compensation. ...
Former Lloyds boss Eric Daniels sues bank for withheld bonuses image
Source : Guardian [Read Article] Tuesday 22nd of August 2017 11:22:18 AM
.... He was heavily criticised by the Treasury select committee in 2010 when it was revealed he did not know how many of his staff were paid more than him. Since leaving Lloyds, Daniels has taken on a string of jobs in the City, including at peer-to-peer lender Funding Circle, Mayfair-based investment bank StormHarbour and private equity firm CVC Capital Partners. ...
UK credit and debit card spending ​growing​ at fastest rate since 2008 image
....7% rise last year. Rapid growth in credit card borrowing was among reasons why Threadneedle Street moved to force banks to strengthen their financial position this year, asking lenders to set aside £11. ...
House prices: Northants leads Midlands 'mini-boom', says Rightmove image
Source : Guardian [Read Article] Monday 21st of August 2017 05:01:02 AM
....Despite concerns about Brexit and the economy, house prices have continued to increase, though at a slower pace than in recent years. The market has been supported by a lack of supply and ultra-low interest rates, though the Bank of England has warned lenders about loose mortgage lending. ...
Getting to grips with a £32,220 student debt – and how you can lighten the load image
....Many graduates will look to begin saving for their first home after starting work. In principle, student loan debt shouldn’t impact on the ability to get a mortgage as these loans do not appear on credit reports, so they won’t affect the score when a lender is assessing suitability for a mortgage. ...
Lloyds and Halifax customers face up to 52% APR overdraft fee image
Source : Guardian [Read Article] Saturday 19th of August 2017 06:00:06 AM
....If you missed it, or are yet to open the letter, Lloyds and Halifax have both abandoned existing charges for overdrafts and will instead charge a flat fee of 1p a day for every £7 of overdraft used. It might not sound much, but the bank has admitted that it is equivalent to an APR of 52% – dwarfing what credit card firms charge and more akin to those applied by payday lenders. ...
Mortgage rates are rising and time is running out to fix prices, borrowers told image
....uk. The difference adds £169 a year to the cost of a £200,000 mortgage, as lenders slowly raise rates. ...
The UK debt tide is rising – how can you avoid drowning? image
Source : Guardian [Read Article] Monday 14th of August 2017 06:00:35 AM
....9 million people in severe financial difficulty and 9 million are “teetering on the edge”. The growing problem has led the Bank of England to warn lenders that they face action against reckless practices over what was described as a “spiral of complacency” by Alex Brasier, the bank director for financial stability. ...
Boom or bust: what’s the truth about UK house prices? image
Source : Guardian [Read Article] Saturday 12th of August 2017 03:00:48 PM
....Britain’s housing market has hit the buffers as political uncertainty, stamp duty changes and squeezed household incomes all dampen buyer demand. Over the past week, Britain’s biggest mortgage lender, Halifax, said that annual house price growth had slowed to the weakest rate in four years and the official surveyors’ body said that activity was back to 2011 levels in some parts of the UK. ...
Should homeowners warm to EDF Energy’s free solar panel system? image
Source : Guardian [Read Article] Saturday 12th of August 2017 06:00:37 AM
....Robin Melvin, head of innovation at EDF, says about 50 households have signed up for the trial and that he is looking for another 50 to join, at which point its success will be evaluated. He says users should not have a problem with their mortgage company – previously an issue with free solar installations – as the package is compliant with Council of Mortgage Lenders guidelines and big lenders are on board with the deal. ...
Nationwide sounds note of caution over lending in run-up to Brexit image
Source : Guardian [Read Article] Friday 11th of August 2017 04:06:30 PM
....Garner said the public had become less optimistic about the economy. “It will be important for lenders to carefully balance credit supply with affordability as we seek to support the long-term interests of consumers in a responsible way through any potential economic slowdown ahead,” he added. ...
Stock market crash: how Slater and Gordon became a casualty of the neoliberal dream | Richard Ackland image
.... The architect of the triumphs and ultimate catastrophe, Andrew Grech, has gone as group managing director, while the entire board has been given its marching orders. The lenders who have taken control have required the company to clear the decks of unresolved issues, including their case against the vendors of Quindell. ...
Contactless transactions take UK debit and credit card use to record high image
Source : Guardian [Read Article] Wednesday 9th of August 2017 05:36:58 PM
....Credit card lending is one part of the consumer credit market – which includes personal and car loans – that is being closely watched by regulators. The Bank of England’s director for financial stability, Alex Brazier, recently warned lenders were “dicing with a spiral of complacency” and that lending standards “can go from responsible to reckless very quickly”. ...
Buy-to-let landlords: Five top tips that could save you THOUSANDS image
Source : Daily Express [Read Article] Wednesday 9th of August 2017 08:30:00 AM
.... You would be surprised how many landlords buy residential home insurance. Buy-to-let lenders will insist that you have buildings insurance to cover bricks and mortar, but a comprehensive landlord insurance policy will also give you cover for contents, liability insurance in case of legal disputes with tenants and loss of rent insurance. ...
Mortgage rates will rise – so 
are you ready 
to take a hit? image
Source : Guardian [Read Article] Tuesday 8th of August 2017 04:52:17 PM
....David Blake, from Which? Mortgage Advisers, said that borrowers need to plan ahead and understand the implications of a rate rise. “For those on a lender’s standard variable rate, a rise in interest rates has the potential to have a big impact. ...
House price slowdown is excellent news – even if estate agents disagree | Nils Pratley image
....“Affordability concerns”, as the Halifax coyly puts it, are the reason why the current tepid conditions will probably continue for a while. The only obvious countering pressure is the shortage of homes on the market, which is at all-time low according to the lender. ...
Breakthrough in leasehold scandal as Countryside buys back freeholds image
Source : Guardian [Read Article] Monday 7th of August 2017 03:58:18 PM
.... We were at no point told by our original solicitor that this clause existed or would be a problem. Neither did they inform our lender (who almost certainly would have refused our mortgage application had they known). ...
House prices fall for FOURTH quarter in a row but here’s why homeowners shouldn't panic  image
....And while prices have been slowly dipping since March, values increased by 0. 4 per cent between June and July - the highest monthly rise in 2017, according to the lender. ...
UK house price rises slow to four-year low, says Halifax image
Source : Guardian [Read Article] Monday 7th of August 2017 09:54:34 AM
. Annual house price growth has slowed to the lowest rate in four years, according to Britain’s biggest mortgage lender. ...
Two pints of best and an English rosé as wine comes to the beer festival image
....The Treasury select committee published a highly critical report into her failure to disclose that her brother worked for Barclays, which is regulated by the Bank of England. A scion of one of Britain’s best-known political families, Hogg had initially told MPs that the Bank was aware of Quintin Hogg’s role at the high street lender. ...
Socially responsible retailers aim to end the ‘rent-to-own’ rip-off image
Source : Guardian [Read Article] Saturday 5th of August 2017 05:59:04 AM
....BrightHouse argues its customers typically don’t have the luxury of being able to walk into a shop and hand over £600-plus to pay for something. Other options are pricey, too: borrow £750 over 52 weeks from doorstep lender Provident Financial, say, and you would pay a total of £1,404 (a 299. ...
Cowes Week sailing extravaganza spawns a renting boom in Isle of Wight image
....”. The high living of Cowes week contrasts sharply with everyday life on the island when the regatta, which is sponsored by peer-to-peer lender Lendy, packs up and leaves town. ...
Sports Direct loses biggest independent investor image
Source : Guardian [Read Article] Thursday 3rd of August 2017 05:40:54 PM
....The report also lists a range of risks that could harm the business. Ashley is defending the business from cyber-attacks with “external penetration testing” and on Brexit he has begun “negotiations with lenders” and is monitoring “movements in customer behaviour”. ...
'It's hard to remember how fraught it was': Mark Carney on the credit crunch image
....For a period, calm did seem to return. After the seizure of the markets – which sparked the run on Northern Rock in September 2007 – the government spent the rest of the year trying to find a buyer for the ailing lender before eventually deciding there was no alternative but to take the Newcastle-based bank into public ownership in February 2008. ...
The day the credit crunch began, 10 years on: 'the world changed' image
Source : Guardian [Read Article] Wednesday 2nd of August 2017 04:15:56 PM
.... It took the Treasury’s skeleton team almost three days to reply but when they did the name at the top of the list was Northern Rock. The man in charge of Northern Rock was Adam Applegarth, whose aggressive expansion plans for the Newcastle-based lender had made him a stock market darling. ...
House prices stabilise as number of homes on the market falls image
Source : Guardian [Read Article] Tuesday 1st of August 2017 12:13:12 PM
....But with household budgets under pressure, and wage growth failing to keep up with the cost of living, Nationwide is forecasting “subdued” housing market activity, and says prices are likely to rise by just 2% over the whole of 2017. Jonathan Samuels of property lender Octane Capital said: “Weak supply has once again ridden to the rescue of house prices. ...
HSBC shows what happens when a bank stops shooting itself in the foot | Nils Pratley image
.... In parallel, HSBC has concentrated on organic growth, rather than chasing a quick buck via acquisitions, which was its habit in the late 1990s and early 2000s. That expansion splurge delivered a few gems, but, in the round, it was a disaster, the purchase of US subprime lender Household being the worst of the lot. ...
Credit card Britain: £1.5BN of debt racked up in ONE MONTH sparking fresh crisis fears image
....The Bank's executive director for Financial Stability Alex Brazier said: "Household debt – like most things that are good in moderation – can be dangerous in excess. "Dangerous to borrowers, lenders and, most importantly from our perspective, everyone else in the economy. ...
Unsecured consumer credit tops £200bn for first time since 2008 image
Source : Guardian [Read Article] Monday 31st of July 2017 08:55:04 AM
....As households grapple with rising living costs, charities and policymakers have raised concerns that consumers are increasingly turning to loans amid worrying signs of a return to reckless lending by the banks. Last week the Bank of England’s head of financial stability, Alex Brazier, accused lenders of “dicing with a spiral of complacency” and warned that lending standards “can go from responsible to reckless very quickly”, and that this posed a risk to the economy. ...
Should I renegotiate my offer price after survey points to problems? image
Source : Guardian [Read Article] Monday 31st of July 2017 08:51:02 AM
.... However, the seller might not want the hassle of arranging building works so the alternative would be to offer him £5,000 less than your current offer on the flat. As far as the mortgage goes, you need to talk to your lender because a change in the asking price may affect the formal mortgage offer it is prepared to make. ...
Lenders must stop stoking demand for loans: or there’ll be another firestorm image
.... The belt-tightening would be even more pronounced were it not for the willingness to load up on credit. Banks and other lenders have responded to a prolonged period of low interest rates and modest growth by making the terms for borrowers more attractive. ...
‘I wonder if it’s worth getting up’: life in Corby, the debt capital of Britain image
.... Some of the rise is down to low borrowing costs and the easy availability of credit to pay for anything from cars and weddings to everyday living costs. However, borrowing is rising faster than incomes and the Bank’s director for financial stability, Alex Brazier, warned last week that lenders who are offering cheap deals were taking the risk of sparking a fresh financial crisis. ...

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