The Bank of England recently decided to allot an additional £75 billion to its quantitative easing program. Industry experts believe this could provide the mortgage market with a boost. Interest rates were kept steady at 0.5 percent by the Monetary Policy Committee (MPC) last week as the quantitative easing program was increased to £275 billion. ...

Statistics indicate that more UK consumers are taking advantage of short-term credit provided by online lenders. Individuals running these businesses report that the trend is not a response to less cash and restricted credit. It is because traditional lenders have stopped listening to their customers. The result is a new type of lending market for ...

BDRC Continental, the largest independent research agency in the UK, recently found that one-third of UK firms with fewer than ten employees have their loan applications rejected. In a recent survey conducted by BDRC, over half of these businesses reported that they did not apply for a loan within the past year. The reason? They ...

Leaders of the eurozone are formulating a plan to rescue the struggling economies of Greece, Portugal, and Ireland. These may not be the only eurozone countries that need assistance because Spain has been mentioned and others may follow. Germany is leading the rescue effort for the three countries in the most dire straits, promising a ...

Accusations surfaced that the UK government is forcing the neediest residents of Scotland to turn to loan sharks. The government is debating the Welfare Bill, which could drive cancer patients to poverty. A universal benefit in the bill makes it more difficult for people to live on the support of welfare and encourages continued work ...

In some cases, a consumer may fall in love with a car and want to buy it that day. These situations make a conventional car loan infeasible because it takes one to several weeks to secure approval for this type of loan. A same day auto loan is designed for anyone seeking loan approval on ...

Being in love is grand, but affection is not always conducive to smart financial practices. No one wants to think about the day the relationship ends, but establishing some ground rules can make things less complicated if it does. There are several ways to be wise when it comes to money and a relationship. Following ...

In 2011, the channel could have a difficult ride if the fourth quarter 2010 insolvency spike and the higher rate of bad debt hitting distribution are any indication. Early in the recession, many distributors and resellers reduced costs in an attempt to counteract the slowdown. Firms in good standing were able to keep their monthly ...

During the last three months of 2010, the economic recovery in the UK faltered, causing both Yorkshire and Clydesdale Banks to experience an increasing amount of bad debt. National Australia Bank (NAB), their parent company, reported a decline in the ratio of bad loans to 3.34 percent during the end of December 2010. As of ...

On Monday, two entities that establish accounting standards announced their joint plan requiring banks to make earlier anticipations regarding loan losses. This should provide the financial institutions with more time to address resulting financial shortfalls. It represents a major shift in the process by which lending institutions account for their losses. The U.S. Financial Accounting ...

A new credit union established in Gloucestershire was designed to encourage people to avoid loan sharks and other illegal money lenders. These unscrupulous businesses charge very high interest rates to those who can least afford them. The new credit union targets individuals who do not have a bank account or whose credit rating is poor. ...

UK Chancellor of the Exchequer George Osborne has demanded that banks increase lending from the 2010 figure of £180 billion to over £200 billion. Discussions between UK banks and the Treasury regarding an additional £10 billion in lending recently stalled. This lead to a threat from ministers to break up the financial institutions. In addition ...

By 2015, households in the UK will need to pull together £1,800 to pay interest on their unsecured debts. In the next three years, loan and credit card interest rates are anticipated to rise by two to three percent. Coming up with the extra money needed to continue servicing loan and credit card debt will ...

Anyone who needs to take out a personal loan in 2011 will be happy to know that the largest providers are engaged in a price war. Moneynet research indicates that six large financial firms reduced rates for unsecured personal loans within the past two weeks. These reductions are for the largest loans that they offer, ...

Nearly four in every ten UK residents claims to financially struggle to make it to the next payday, reports R3, an insolvency trade body. This is equal to 38 percent of UK residents, or 18 million people. Those surveyed said their financial struggle begins on the 19th day of the month, one day earlier than ...

Bank overdraft charges are closing in on 20 percent, so smart consumers should avoid using overdrafts whenever possible. Several alternatives might be a better option for those who must make purchases now. Though each of these costs some money, the result may be more cost-effective than getting into overdraft debt. One alternative is to complete ...

The Office Of Fair Trading (OFT) in the UK has issued a warning to Safeloans Limited, a payday lender that trades as Paydayok. This lender is believed to be misusing the direct debit facilities of its customers. Direct debits are used by some payday lenders to achieve greater control over repayments. However, this practice can ...

Shelter, a UK homeless charity, reported that nearly one million households in the country have fallen behind in mortgage or rent payments. This figure is twice what it was just one year ago and charities predict that the number will increase in 2011. Perhaps most unfortunate is the fact that homes with children are most ...

We have been really busy socialising this week and as well as joining the twitter revolution we have also created a community help page at facebook. Our financial community page can be found here: http://www.facebook.com/pages/UK-Finance-and-Loans-Tips/133190843405913 Please feel free to spread the word and look out for the latest news regarding UK finance and loans as ...