Tag: Loan News

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 £15,000 a year, at a low interest rate. [...]

October 11, 2010 | 0 Comments 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 £20.9 million of new loans. This is compared to a total of £22.9 million for the whole of 2009. Figures from Triodos show new [...]

July 20, 2010 | 0 Comments 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 £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 | 0 Comments 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 | 0 Comments 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 €442 billion (£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 | 0 Comments 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 | 0 Comments 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 | 0 Comments 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 | 1 Comment 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 | 0 Comments More
Consumer borrowing surges in January

Consumer borrowing surges in January

Figures from the Bank of England today revealed that British consumers borrowed £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 £265 million rise seen in the previous month December, and [...]

March 1, 2010 | 0 Comments More
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 £52 million in December, which surprised analysts who had expected a £400 million fall. For the first time since June, borrowing outstripped the amount being paid back [...]

February 1, 2010 | 0 Comments More
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 (£4.7 billion) [...]

January 19, 2010 | 0 Comments More
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 £250 and £11,500). “The idea is to make needy and creative Bahraini families self dependent [...]

January 15, 2010 | 0 Comments More
JAL shares recover after Government loans deal

JAL shares recover after Government loans deal

Shares in troubled Japan Airlines (JAL) soared 31% today after it was revealed that the Japanese Government had asked the state-owned Development Bank of Japan (DBJ) to double JAL’s credit line to JAL to 200 billion yen (£1.4 billion). The airline has already used 55 billion yen of the 100 billion yen credit line set [...]

January 4, 2010 | 0 Comments More
Lloyds in £450m write-off on Admiral Taverns loan

Lloyds in £450m write-off on Admiral Taverns loan

Banking giant, Lloyds Banking Group, is expected to take a hit of £450 million as a result of its investment in pub chain Admiral Taverns. In order to finance a series of acquisitions, the group’s Bank of Scotland arm loaned more than £850 million to Admiral but the pub group, which owns more than 2000 [...]

June 15, 2009 | 0 Comments More
General Motors expected to file for Chapter 11

General Motors expected to file for Chapter 11

Many reports over the weekend have speculated that General Motors (GM) is expected to file for Chapter 11 bankruptcy tomorrow. The century-old car maker, which was once the biggest company in the world, reaches its deadline tomorrow of restructuring the business in order to achieve a multi-billion dollar loan from the Government to avoid bankruptcy [...]

May 31, 2009 | 0 Comments More
Daimler redeems 20% stake in Chrysler

Daimler redeems 20% stake in Chrysler

There is now a definitive separation between car firms Daimler and Chrysler after the German carmaker has reached a deal to give up its 19.9% stake in the US firm. The agreement will also see Daimler forgive repayment of the loans extended to Chrysler, which were already written off in the 2008 financial statements, said [...]

April 28, 2009 | 0 Comments More
Student loans could fall to zero percent

Student loans could fall to zero percent

Deflation has occurred for the first time in the UK since the 1960s and the Retail Prices Index (RPI) figure has been used to track the interest rate payments on student loans. However there has always been much speculation as to what would happen if the RPI would turn negative and yet last month, this [...]

April 25, 2009 | 0 Comments More
BoE report reveals lending is set to increase

BoE report reveals lending is set to increase

A Bank of England report has revealed that Britain’s banks and building societies are set to make more loans available to homeowners and businesses over the next quarter. The report also revealed that despite the tightening of lending criteria over recent times, credit availability to larger companies actually increased during the first three months of [...]

April 2, 2009 | 0 Comments More
Dunfermline rescued by Nationwide

Dunfermline rescued by Nationwide

It has been confirmed this morning that the Nationwide is to buy the Dunfermline Building Society’s branches, good loans and deposits. It was reported over the weekend that Scotland’s largest Building Society had collapsed after last-minute rescue attempts failed. The institution, which was established in 1869, will see Nationwide take on its 500+ staff and [...]

March 30, 2009 | 0 Comments More