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 Companya��s website. The service, which allows customers to “buy now, pay later” will be introduced on other retailersa�� sites in the near future. Although the Paylater branding is similar to Wongaa��s, the Wonga name only appears in the small print. A […]

December 17, 2012 More
Ministers consider higher interest rate on student loans

Ministers consider higher interest rate on student loans

A higher education funding review is likely to see a shake-up in the way interest is charged on student loans. The review, by Lord Browne, suggested a variable interest rate on student loans was a favoured option. Currently, students pay back their loans when they earn over A?15,000 a year, at a low interest rate. […]

October 11, 2010 More
Triodos and Charity Bank on track for record lending

Triodos and Charity Bank on track for record lending

Mid-year figures from Charity Bank and Triodos Bank show both lenders are on track for a record year of lending. During the first six months of this year, Charity bank agreed A?20.9 million of new loans. This is compared to a total of A?22.9 million for the whole of 2009. Figures from Triodos show new […]

July 20, 2010 More
‘Era of debt-fuelled consumerism over’

‘Era of debt-fuelled consumerism over’

The era of debt-fuelled consumer spending is over, a financial expert has claimed, pointing out Britain’s consumer debts of nearly A?1.5 trillion. Tim Moss, head of loans at moneysupermarket.com, seemed to be talking himself out of a job by claiming consumers can no longer afford to fund purchases on borrowed money. Consumers must face up […]

July 14, 2010 More
Stock markets recover as euro zone banks borrow less than expected

Stock markets recover as euro zone banks borrow less than expected

Global stock markets were rocked yesterday with the news that euro zone banks may face funding difficulties after it was revealed that the European Central Bank (ECB) would not be offering 12-month loans. A year ago, the ECB was forced to offer European banks 12-month loans at low interest rates to help them survive the […]

June 30, 2010 More
European shares down on banking concerns

European shares down on banking concerns

There are fresh concerns over the European banking sector after banks are scheduled to repay a��442 billion (A?362 billion) worth of loans to the European Central Bank (ECB) later this week. Shares in Europe hit a three-week closing low today as a result. Furthermore, shares were hit by a sharp fall in US consumer confidence […]

June 29, 2010 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 A?2.6 billion, compared with A?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 A?9 billion was in […]

June 24, 2010 More
Lloyds shareholders could sue over HBOS takeover

Lloyds shareholders could sue over HBOS takeover

The Treasury and Lloyds senior executives could be sued over the controversial takeover of HBOS, which took place at the height of the financial crisis. An investor group called Lloyds Action Now, which was established a year ago, claimed investors were lured into voting for the takeover, while not being provided with all the relevant […]

June 7, 2010 More
PPI rarely provides adequate cover

PPI rarely provides adequate cover

“Onerous clauses” on payment protection insurance (PPI) mean that borrowers unable to pay back their loans rarely receive an insurance payout, a finance expert has claimed. David Kuo, director of Motley Fool, said consumers are being duped into believing PPI will cover them if they have legitimate reasons for failing to make loan repayments. “Borrowers […]

May 21, 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
Zopa offers an alternative for high-risk borrowers

Zopa offers an alternative for high-risk borrowers

Savers wanting to earn a good rate of interest while avoiding high street banks now have an alternative option. Zopa matches up people who have spare cash to lend with those who want to borrow money. John Hudson, professor of economics at Bath University, hailed Zopa as “a new way of borrowing and lending money”. […]

May 4, 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
Hopes for Greece as details of rescue plan outlined

Hopes for Greece as details of rescue plan outlined

There are hopes for Greece today after leaders of the euro zone nations have agreed to provide emergency loans to the debt-ridden country. However, Luxembourg Prime Minister Jean-Claude Juncker, speaking for euro zone finance ministers, said that the euro zone countries had not decided to activate the loans, as this would depend on a decision […]

April 11, 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
Consumer borrowing surges in January

Consumer borrowing surges in January

Figures from the Bank of England today revealed that British consumers borrowed A?500 million in January through credit cards, loans and overdrafts, once repayments were taken into account – the highest level since November 2008. According to the Bank, the increase was almost double the A?265 million rise seen in the previous month December, and […]

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 A?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 A?2.9 billion, leaving both figures up 26% on November. In […]

Credit card borrowing soars in December

Credit card borrowing soars in December

Figures from the Bank of England today revealed that new borrowing on credit cards, loans and overdrafts rose for the first time since June 2009. Consumer credit rose A?52 million in December, which surprised analysts who had expected a A?400 million fall. For the first time since June, borrowing outstripped the amount being paid back […]

Citigroup reports Q4 loss of $7.6bn

Citigroup reports Q4 loss of $7.6bn

Citigroup, which is the third largest US bank, has today posted a loss for the fourth quarter of 2009, as a result of the repayment of Government loans. The bank said it repaid $20 billion to the US Government during the 2009 year. The Wall Street banking giant said losses totalled $7.6 billion (A?4.7 billion) […]

Microfinance loans to help needy in Bahrain

Microfinance loans to help needy in Bahrain

A new microfinance bank in Bahrain is set to help thousands of needy families. The Family Bank, a joint initiative between Bahrain’s Social Development Ministry and the Grameen Bank, will offer loans of between 150 and 7,000 Bahrain Dinars (between A?250 and A?11,500). “The idea is to make needy and creative Bahraini families self dependent […]