January 2007 Finance News Archive

• Credit card companies set to clamp down on late payers [30.01.07]
  With many credit card holders in the UK struggling to repay their balances and as a result making late payments – or in some cases missing monthly payments altogether
• Consumers could save money on utilities by switching [30.01.07]
  With many utility companies in the UK hiking up prices and leaving consumers to deal with ever increasing energy and utility bills, many experts have advised consumers to start shopping around for alternative utility companies in order to try and save money on their bills
• Experts offer advice on financial streamlining for New Year [25.01.07]
  Over the past couple of weeks, with the New Year upon us, many UK consumers that are currently trying to juggle a range of debts or are paying over the odds on their bills and other financial commitments have promised to get their finances into order in a bid to try and streamline their finances, ease their budgeting, and save themselves some cash.
• British Gas needs to cut charges following record profits [24.01.07]
  In the UK households have seen the cost of their energy bills soar over the past year, with around thirty percent added to the cost of the average energy bill for UK households, and consumers paying an average of one thousand pounds a year for their gas and electricity.
• Will further interest rate rise slow down mortgage activity [24.01.2007]
  In August 2006 the Bank of England increased the base interest rate to 4.75 percent from 4.5 percent, a rise of a quarter of a percent.
• Is your upgraded bank account worth the cost? [23.01.2007]
  In the past consumers in the UK knew exactly where they stood when it comes to their bank accounts, with most accounts offering standard services and charging no fee for use.
• Consumers and retailers may benefit from sensible use of cards [22.01.2007]
  Recent data relating to the use of credit cards by Brits has indicated that many British consumers are using their credit cards far more sensibly and responsibly than in the past, which could prove good news for both consumers and retailers in the UK.
• Could a broker help you to get a better deal on your loan? [18.01.2007]
  Consumers in the UK have become increasingly reliant on personal and secured loans over recent years, and the increasing number of lenders able to offer this type of facility has made it easier for consumers to get the loan that they need.
• Consumers in Wales falling into debt due to cost of utilities [12.01.2007]
  Recent figures and data have shown that many consumers in Wales are now falling into debt simply in order to keep their homes warm over the winter period.
• Consumers feel the pinch from rate hikes on credit cards [11.01.2007]
  Rises in rates and charges over the past twelve months that have been enforced by a variety of credit cards could result in many consumers in the UK feeling the financial pinch whilst the credit card companies and banks reap millions of pounds in extra revenue.
• Capped rate energy users need to review their suppliers and energy plans [08.01.2007]
  Experts are warning that consumers in the UK that are currently on a capped rate in terms of their gas and electricity costs should get ready to start looking for alternative suppliers or plans if their capped rate period is due to come to an end soon.
• Bank ups credit card interest fees for gamblers [08.01.2007]
  Online gambling has become a booming industry in the UK as well as abroad, and many consumers in the UK spend a small fortune each year on online gambling, often using their credit cards in order to fund this form of entertainment.
• Look out for balance transfer fees when transferring your balance [06.01.2007]
  When 0% balance transfer credit cards were first introduced in the UK they were heralded the ideal solution for those struggling to repay credit card debts on high interest credit cards, enabling them to transfer the debts from their other cards onto one 0% balance transfer card and then enjoy a generous interest free period during which time they could clear as much of the balance as possible without being hit with interest charges on top.
• Are you being unfairly charged by your bank? [05.01.2007]
  Many UK consumers have found themselves facing hefty unauthorized borrowing charges for going over their specified overdraft limit, even if it is just by a couple of pounds, and this has results in a massive rise in consumers complaints in relation to bank charges.
• UK gets credit cards at the ready for the January sales [04.01.2007]
  As the January sales come into full force in the UK it seems that many consumers are getting prepared with their credit cards, hoping to pick up a bargain or ten and charging their purchases to their credit cards to enjoy convenience and flexibility.
• Study finds that banks are quicker to charger higher interest than to pay it [03.01.2007]
  Over the past six month the UK has twice seen the Bank of England hike up the interest rates, taking it from 4.5 percent to 4.75 percent, and more recently to 5 percent.
• Pet insurance cover could prove invaluable for pet owners [03.01.2007]
  The UK has become known for being a nation of animal lovers, and those with pets in the UK tend to treat them like family members.
• Mortgage borrowing rises whilst credit card borrowing decreases [02.01.2007]
  According to recent figures released by financial specialists in the UK the level of borrowing for mortgages has risen quite steeply in the UK, and at the same time borrowing on credit cards has seen a decline.
• Lenders fight to offer attractive fixed rate mortgage deals in light of interest rate rises [02.01.2007]
  In the follow up to the two recent interest rate rises enforced by the Bank of England in August and November of 2006, many lenders are now battling to offer attractive fixed rate deals to those looking to remortgage or buy a property.