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uk loans news

UK SMEs Turning To Non-Bank Lending

April 18, 2012

For many years, small U.S.-based businesses have had options for obtaining financing. In the UK, small businesses have long been beholden to loans bank provided. Only recently have they had access to alternative credit sources, spurred by restricted conventional lending in the aftermath of the financial crisis. These non-traditional sources include peer-to-peer lending and payday […]

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Monthly Pay Barely Covers Half The Month

February 11, 2012

The average worker in the UK spends half a month worrying about whether enough money is available. This recent discovery by Halifax bank has many experts concerned. Research from the bank indicates that workers typically run out of money just 17 days after being paid each month. Of the over 2,000 adults surveyed, ten percent […]

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As Quantitative Easing 2 Begins Lenders Encouraged To Increase Loans

October 13, 2011

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. […]

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German Firms Head To London To Relieve Debt

July 25, 2011

In the June 10 Sunday Telegraph, a company named Rodenstock was noted as the subject of a landmark legal decision allowing German businesses to come to London in order to shed debts. The High Court authorized an arrangement in which this major German eyeglass manufacturer could improve its financial situation by traveling to England. Quite […]

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Online Microlenders In UK Taking On High Street Banks

July 22, 2011

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 […]

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UK Entrepreneurs Now Have More Financing Options

July 20, 2011

Last week, two statistics were publicized that indicate that UK businesses may need financial help in order to grow. Economic recovery is slower than anticipated, according to the British Chambers of Commerce. The entity commented that additional support is especially needed by firms in the private sector. In addition to this, the banking sector announced […]

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One Third Of Small UK Firms Rejected For Loans

July 18, 2011

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 […]

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Technology Enables Loans Via Text

May 4, 2011

The computer and Internet streamlined the way we find and process information. The smart phone brought much of that functionality into the palm of our hand. Through the wonders of technology, UK citizens can now apply for a loan via text. No credit check loans that require no faxed documents or collateral and are delivered […]

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Plan To Rescue Greece Portugal And Ireland From Economic Woes

April 15, 2011

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 […]

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balance transfers on credit cards explained

April 1, 2011

A Balance transfer in a nutshell A balance transfer is simply using one credit card to repay the money owed on another other credit card by taking advantage of a reduced rate. This rate is primarily offered to new card holders who wish to transfer their balances over to a new provider. Selecting the best […]

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Crisis Loan Cut Back Could Drive Sick People To Loan Sharks

March 16, 2011

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 […]

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Pre Approval For An Car Loan Has Benefits

March 9, 2011

When looking for a new car, getting pre-approved for a loan is the best way to get a great deal. With conventional auto loans, applicants are sometimes not accepted even if they qualify. This delays the process of purchasing the new car. To avoid this embarrassment and frustration, consumers can shop for auto loans and […]

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Are There Same Day Loans For Car Purchases

February 28, 2011

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 […]

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Are The Rumors About Northern Rock Bank True

February 26, 2011

This week, media reports claim that the nationalized bank Northern Rock may soon re-launch its mortgage products. This would include an LTV mortgage arrangement designed for first time buyers. It would be the first deal of this kind since the bank became nationalized during the credit crisis. The bank is reportedly preparing for a stock […]

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First time home buying tips for new couples

February 17, 2011

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 […]

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How Do I Qualify For A UK Crisis Loan

February 15, 2011

A crisis loan is a special type of loan that UK residents can obtain for financial assistance in a disaster or emergency. Individuals in Wales, Scotland, and England can download a crisis loan claim form from the UK Department for Work and Pensions Web site. This loan is interest-free and there are  certain criteria that […]

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Rough Seas For Channel Due To Spike In Reseller Insolvencies

February 15, 2011

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 […]

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Britons Are Secretive About Their Finances

February 14, 2011

What starts as a single hidden receipt soon snowballs into private bank accounts and credit cards. A September 2010 survey by the Post Office revealed that one in every six Britons has a bank account holding an average of £2,000. Not out of the ordinary, you say. Well, what if we told you that they […]

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Increasing Bad Debt For Yorkshire And Clydesdale Banks

February 14, 2011

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 […]

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Can An ISA Investment Be Used As A Guarantee For A Siblings Loan

February 7, 2011

An Investment ISA is considered a shares and stocks ISA. An individual can invest money in various funds that feature different investment objectives. All returns on investment are UK capital gains and income tax-free. This is a tax-efficient method of investing, whether the individual is interested in capital growth or regular income. A maximum of […]

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New Bad Loan Accounting Rules For UK Banks

February 6, 2011

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 […]

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Can I Go To Prison For Lying On A Loan Application Form

February 5, 2011

It is never a good idea to lie and this is especially true when completing a loan application. Some people are in such dire financial straits that they list false information on applications for loans. This includes stating that they own a home and are working. Though the consequences vary by loan provider, they may […]

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New Credit Union In Gloucestershire Reducing Use Of Loan Sharks

February 2, 2011

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. […]

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UK Inflation Rate Signifies Bad News For Individuals With Poor Credit

February 2, 2011

The UK is currently experiencing record high inflation rates, due to fuel price and tax increases. This is troublesome for all residents but especially those with bad credit. It means they have fewer options to rid themselves of the mountain of debt they face. Experts predict that it will be even more difficult for anyone […]

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UK Banks Warned To Boost Lending Or Break Up Is Possible

February 1, 2011

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 […]

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How Can I Prevent Using My Address When Applying For Loans

January 31, 2011

Each lender requires that different information be supplied on the loan application. In most cases, this will include the mailing address because the individual must be a resident of the UK. However, not all lenders require that applicants fax proof of residency, making a faxless payday loan a more convenient option for those who need […]

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£1800 Will Be Needed For Unsecured Borrowing Debt Costs

January 31, 2011

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 […]

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Fair-Price Lender Emerges In Central Birmingham

January 24, 2011

Residents of central Birmingham are welcoming My Home Finance, a new fair-priced financial resource. No longer must they be dependent on illegal loan sharks and doorstep lenders who take their hard-earned money. My Home Finance provides them with affordable and easily-accessed credit that can immediately improve their financial situation. The National Housing Federation, supported by […]

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Personal Finance News – Loan Pricing War In Full Swing

January 10, 2011

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, […]

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UK Housing Prices Fall Despite Slight Mortgage Increase

January 7, 2011

The Bank of England reported approval of approximately 48,018 loans for November homebuyers. This is an increase from the 47,315 mortgage loans approved during October. This slight rise put an end to six consecutive months of decline in housing purchase approvals. Despite this good news, economists warn that housing prices will continue their descent. A […]

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Payday Loans News – UK Residents Struggle Financially To Make It To Payday

January 4, 2011

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 […]

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Consumers In UK Changing Habits Regarding Car Leasing

January 2, 2011

More than 530,000 new automobiles were purchased by UK consumers during the first half of 2010. The Finance and Leasing Association reports that 49.4 percent of these automobiles were leased. One estimate reveals that eight of ten new cars are purchased using a financing arrangement but it seems the type of financing is changing. Consumers […]

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Payday Loans Are Ways To Avoid Overdraft Charges

December 31, 2010

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 […]

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2011 UK House Prices Predicted To Decrease Seven Percent

December 23, 2010

Economists are predicting that home prices in the UK will decline by seven percent during 2011 due to the continued mortgage freeze. During the past year, mortgage lending sharply decreased because buyers were unable to locate affordable deals. Economists say that the low, but stabilizing activity within the housing market indicates that housing prices will […]

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Office Of Fair Takes Action To Stop Unfair Payday Loan Practices

December 23, 2010

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 […]

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UK Homeowners Face Rising Interest Rates

December 21, 2010

The Bank of England reported that over seven million homeowners in the UK are facing increasing interest rates. The bank advised people to begin paying off debts to prevent a negative financial situation when their repayment amount increases due to additional interest. Consumers may end up spending more disposable income on mortgage interest than in […]

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UK Home Sales Flounder As Homeowners Are Faced With Repossession

December 15, 2010

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 […]

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QuickLoans.co.uk Announces Peer-To-Peer Lending In UK

December 15, 2010

The first peer-to-peer lending service in the UK for quick loans to subprime borrowers was recently announced by QuickLoans.co.uk. The company is able to provide payday loans with cheaper rates of interest because people, not banks, serve as the lenders. Since its launch date on November 1, the company has lent more than £35,000 in […]

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follow fast uk loans on facebook

December 1, 2010

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 […]

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Follow us on twitter

December 1, 2010

Hi everyone We are very pleased to announce that we have now joined the twitter revolution! Our profile page is here: http://twitter.com/ukfinanceguy Please feel free to spread the word and look out for the latest news regarding UK finance and loans as it breaks.

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