Test case into bank charges open
January 16, 2008
This week has seen the long awaited High Court test case into bank charges open, with many consumers and industry officials eagerly awaiting the outcome of a case that could change the banking industry within the UK. The court case is aimed at deciding how much banks can fairly charge customers for going over their overdraft limits, for bounced cheques, and for returned direct debits. Some banks were previously charging close to £40 per fee, but campaigners argued that the cost to the bank was only a few pounds. Read more
An average £8000 could be wiped off property prices this year
January 15, 2008
Over recent months there has been much speculation with regards to what will happen with property prices over the course of 2008, with a range of surveys and studies all pointing to the fact that house prices are set to fall, and have indeed already fallen over the final months of 2007. Officials from John Charcol recently predicted that house prices will fall by 2% over the course of this year, with other industry officials largely predicting that house prices will either stagnate or will continue to fall. Read more
Thinking of booking your annual holiday?
January 15, 2008
With Christmas and the New Year now over many people will be thinking about getting their annual holiday booked up, whether it is a spring vacation to help shake off the cobwebs of winter or a fantastic summer holiday in some far flung destination. One problem that many of us encounter at this time of year however is finding the cash to pay for a holiday. Having shelled out for the expenses of Christmas and the New Year most of us are struggling to find money to pay the bills never mind book a holiday. Read more
Skipton loses sensitive customer data
January 15, 2008
In the latest in a long line of data loss blunders the Skipton Building Society has recently admitted that it has lost sensitive date relating to around fourteen thousand of its customers. This is worrying news in light of the fact that so many authorities and companies have lost sensitive data relating to consumers, and given the increasing dangers and risks posed by identity theft and fraud over recent years. Read more
Changes made to cheque deposits
January 14, 2008
Following a change in regulations consumers that make cheque deposits into their bank accounts will now be able to enjoy increased speed and efficiency, as well as other benefits. The new rules, put together by the Cheque and Credit Clearing Company along with APACS, will come into force at the end of November. The Office of Fair Trading has been trying to get clarification on cheque clearance times for years from the banking industry. Read more
Northern Rock staff receive generous bonuses
January 14, 2008
As talks about the future of the stricken bank Northern Rock continue staff members have been awarded a pay rise, as well as one off and Christmas bonuses over the past couple of weeks. According to reports around six thousand members of staff, excluding managers, were granted a bonus of 2% of their salary, along with a one off £200 Christmas bonus and a pay rise of 4%. The pay rise is set to take effect from this month. Read more
Getting the right bad credit loan
January 14, 2008
Having bad credit can create many problems when it comes to getting credit in the future, but this does not mean that you will never be able to get a loan again if you have a damaged credit rating. Actually getting credit as a bad credit customer can be very difficult, so don’t expect loans and credit to just fall into your lap. However, with some research and the help of the Internet you should be able to find finance to suit your needs even if you do have damaged credit. Read more
Positive outlook from lenders for coming year
January 12, 2008
As 2008 gets off to a financially turbulent start many lenders have expressed optimism for the coming year. According to the Intermediary Mortgage Lenders Association many of its members are remaining positive with regards to their outlook for the coming year, despite predictions that the credit squeeze is set to get worse and despite the already destructive effects of the credit crunch that swept across the UK in the summer of last year. Read more
Loved ones don’t always offer sound advice
January 12, 2008
When it comes to getting financial advice many people go to a trained and experienced professional in order to get advice relating to different areas of finance. However, many others decide to take the advice of friends and family members, and although loved ones may have the best of intentions a recent survey shows that it is not always the best idea in the world to expect friends and family members to offer advice on something as important and potentially complicated as finances. Read more
Things to avoid when selling your home
January 12, 2008
Selling your home can be a difficult task at the moment, with a combination of a slow housing market, lower first time buyer interest, falling house prices, and tight credit conditions all working against those wishing to sell up and move on. Read more