The parliamentary inquiry into the Libor fixing scandal may be used by the leading banks to end the system of free banking that UK customers have enjoyed for so many years. In the UK, unlike many other countries throughout Europe and the world, most accounts carry no fees, and you are free to withdraw cash […]
Category: News
Spiraling Food Prices and Cost of Fuel Could End Falling Inflation
The pressure easing on millions of British households from falling inflation could be short lived as warnings emerged that fuel prices could head for £1.50 per litre combined with poor harvests affecting food costs. The price of crude oil has been forced up in price due to rising tensions in the Middle East along with […]
Vince Cable Tells Investors to Curb Daredevil Casino Traders
Vince Cable, Business Secretary yesterday issued a call for British bank shareholders to help curb the ‘daredevil’ behaviour of the UK’s ‘casino banks. The Business Secretary made the call in a speech to the Association of British Insurers, which are one of Britain’s most powerful and influential investor groups. Cable said that the Government could […]
Bank Rating Downgrades Mean Interest Rates on Loans & Mortgages Set to Climb Again
British households are likely to be set for more financial pain, with interest rates likely to rise on their loans and mortgages money experts have warned today. Some of Britain’s top banks last night suffered a downgrade in their credit rating by Moody’s the credit agency amid rapidly increasing fears of a financial meltdown in […]
UK Base Rate of Interest predicted to Fall to 0.25% by End of Year
It is predicted by UK financial markets that the base rate of interest could be cut by the Bank of England to 0.25% by the end of the year. The prediction is the first of its kind that hints at the value of less than 0.5%, which is where the base rate has been set […]
Business Finance Conditions Still Getting Worse
Business credit conditions in the UK are still getting worse the Bank of England has warned. Banks are being much more proactive in trying to call in their outstanding debts from UK companies. New loans for companies are much harder to get, and those companies that are managing to get new loans are paying much […]
On-going Credit Squeeze Becoming Critical Because Banks Still Not Lending
The Federation of Small Businesses (FSB) has issued a warning that ‘The on-going credit squeeze is becoming critical’ after it has been revealed today that four out of ten small businesses are still being turned down when they apply for business loans. The FSB who interviewed 2,850 small businesses found that 41% of them who […]
Money Saving Website Sells For £87million
The popular financial advice website moneysavingexpert.com has been sold in a deal worth £87million to the comparison website moneysupermarket.com. The website is owned by Martin Lewis, who is a money saving expert that often appears on television shows and other media to offer financial advice. Moneysavingexpert.com has become a dominant force on the internet and […]
Students Targeted by Scammers to Steal Loan Payments
Students have been warned that they could be targeted by scammers who are trying to steal their student loan payments. The Student Loans Company (SLC) has said that at the moment fraudulent emails are being sent to students by fraudsters pretending to be reputable finance companies. The emails request personal details including bank details in […]
Double Dip Recession Could Cause Fall in House Prices
Economists have issued a warning that the UK’s return to a second official recession could cause a abrupt fall in house prices. The country’s fresh downturn is expected to dampen consumer confidence which is already very low, further increasing the chances of a housing market slump. Howard Archer, chief economist as IHS Global insight said […]