Tag: Loan News

Wonga launches Paylater loans on retailer website

Wonga launches Paylater loans on retailer website

Payday loan company Wonga has launched a new Paylater service on furniture firm Cotswold Company’s website. The service, which allows customers to “buy now, pay later” will be introduced on other retailers’ sites in the near future. Although the Paylater branding is similar to Wonga’s, the Wonga name only appears in the small print. A […]

December 17, 2012 More
Mortgage lending continues to make headway

Mortgage lending continues to make headway

In May, net mortgage lending by Britain’s High Street banks grew to £2.6 billion, compared with £1.9 billion in April. Annual growth in net lending (gross lending with repayments and redemptions stripped out) stood at 4.3%, unchanged from April, according to the British Bankers’ Association, while May’s gross mortgage lending of £9 billion was in […]

June 24, 2010 More
Mortgage lenders pursue estate agents and surveyors over losses

Mortgage lenders pursue estate agents and surveyors over losses

The credit crunch has resulted in a “dramatic jump” in the number of professional negligence claims brought against surveyors and estate agents, according to a City law firm. Research from Reynolds Porter Chamberlain (RPC) reveals that there were 25 commercial and residential High Court cases against estate agents or surveyors in 2009, compared with one […]

May 5, 2010 More
Microfinance loan rates to be published online

Microfinance loan rates to be published online

The interest rates charged on microfinance loans given to the rural and urban poor in India will soon be available online. The decision by the newly-formed Microfinance Institutions Network (MFIN), a self-regulatory body, comes after criticism of the excessive rates charged by some microfinance providers. Microfinance institutions (MFIs) in India charge interest rates upward of […]

April 23, 2010 More
Mortgage brokers see 51% rise in loan availability

Mortgage brokers see 51% rise in loan availability

The number of home loans accessible by mortgages brokers has increased 51%, to 4,665, since this time last year. However, April saw a 4% drop in products available, compared with March, according to sourcing software specialist, Mortgage Brain. The choice of tracker deals took an 11% dive to 1,441, and the availability of fixed-rate loans […]

April 7, 2010 More
First-time buyer loans hit two-year high

First-time buyer loans hit two-year high

First-time buyer mortgage approvals hit a two-year high in December as those buying properties costing up to £175,000 rushed their purchases through before the end of the stamp duty holiday. According to the Council of Mortgage Lenders (CML), 24,900 first-time buyer loans were sanctioned worth £2.9 billion, leaving both figures up 26% on November. In […]

February 13, 2010 More
Iceland’s economy shrinks at record pace

Iceland’s economy shrinks at record pace

Iceland’s economy plummeted at its fastest pace on record in the third quarter, falling by 5.7% compared to the previous quarter. However, on an annual basis the economy contracted by 7.2% – the biggest fall on record. The news comes as many economies throughout the world are now recovering as they emerge from recession. However, […]

December 7, 2009 More
Triodos to raise €90m for ethical lending

Triodos to raise €90m for ethical lending

Triodos Bank has announced plans to issue €90 million of new shares. Money raised from the shares will be used to provide loans to sustainable projects. Set up in 1980, Netherlands-based Triodos provides loans to environmentally-friendly projects such as wind farms and organic agriculture. Since the credit crunch, the company has seen an upsurge in […]

October 2, 2009 More
Dragons’ Den entrepreneur to kick-start UK property market

Dragons’ Den entrepreneur to kick-start UK property market

Entrepreneur, James Caan, has launched an attempt to kick-start the UK property market in conjunction with property portal, Look4AProperty.com. Look4AProperty Money is offering interest-free loans to cover costs such as stamp duty and legal fees, with access to the scheme through a UK-wide network of selected estate agents. According to Mr Caan, who is best […]

September 19, 2009 More
Consumers see few benefits from low base rate

Consumers see few benefits from low base rate

Consumers have seen very little benefit from the Bank of England holding its base rate at a record low of 0.5% for six months, a consumer advice site pointed out this week. Interest rates on savings accounts have dropped, while rates on mortgages, credit cards, and personal loans have continued to rise, said Moneyfacts.co.uk. Research […]

September 10, 2009 More
Reckless card applicants risk “fouled” credit record

Reckless card applicants risk “fouled” credit record

Consumers should carefully check credit providers’ criteria before applying for a credit card or risk finding their “ credit records fouled with a litany of failed attempts to secure credit,” a price comparison site warned this week. With a number of providers, including MBNA, Barclaycard, and RBS, now openly publishing their eligibility criteria, potential applicants […]

New mortgage lending up 4%

New mortgage lending up 4%

The Council of Mortgage Lenders (CML) has reported a 4% rise in mortgage approvals for house purchases in February. During the month 24,300 loans were sanctioned worth a combined £3.1 billion. The figure compares with 23,400 loans in January worth £3.1 billion but is around one-third of the average February total of 76,000 between 2002 […]

HSBC launches new home loans for first-time buyers

HSBC launches new home loans for first-time buyers

HSBC is launching a range of home loans with first-time buyers in mind. The new mortgage offering includes a two-year fixed-rate with a maximum 90% loan-to-value ratio, at 4.99% and with a fee of £1,499. Also likely to be of interest to house purchasers with a 10% deposit is the lender’s two-year fixed-rate loan at […]

Banks approve more house purchases mortgages

Banks approve more house purchases mortgages

Figures from the British Bankers’ Association (BBA) show a rise in the number of mortgages approved for house purchase in February, signalling the third consecutive monthly increase. Last month 28,179 loans for house purchases were sanctioned, up from 24,278 in January and significantly ahead of November’s record low rate of 17,878. However, February’s figure is […]

Homeowners keen to make improvements

Homeowners keen to make improvements

The enthusiasm held by millions of Britons for investing in property has been finding an outlet even as the market collapses. Those who cannot move are busy undertaking home improvements, according to Sainsbury’s Finance. The personal loan provider estimates that last year, around 425,000 loans worth over £4 billion were taken out solely to pay […]

Payday loans deemed most expensive forms of loan

Payday loans deemed most expensive forms of loan

Research from price comparison service, uSwitch.com, has found that while Payday loans may offer quick and easy cash, they are one of the most expensive forms of loans in the UK, with some APRs of up to 9889.3%. According to uSwitch.com, a consumer taking out a payday loan of £750 could end up owing £1,687.50 […]

Sainsbury’s Bank cuts loan interest rate

Sainsbury’s Bank cuts loan interest rate

Tracker loans whisked away as base rate cut to 3%

Tracker loans whisked away as base rate cut to 3%

Leading lenders withdrew tracker mortgages just hours before the Bank of England’s Monetary Policy Committee agreed an historic 1.5% cut in the base rate, to 3%. Lloyds TSB and its Cheltenham & Gloucester (C&G) unit, Northern Rock and Woolwich have all withdrawn tracker products today. Yesterday, the Council of Mortgage Lenders (CML) warned that lenders […]

Mortgage volumes and lending at all time lows

Mortgage volumes and lending at all time lows

The Council of Mortgage Lenders (CML) has reported a further fall in mortgage lending, in August. During the month, 42,200 loans were agreed for house purchases, with first-time buyers making up 15,600 of that number. Total lending for house purchases declined to £6 billion, 63% down on the same period in 2007. During the month, […]