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Latest news on personal loans & mortgages |
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1 Feb 2012
Overdrafts, bank loans and HP borrowing by consumers fell in December by the largest amount on record... read more...
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23 Jan 2012
Mortgage lending in December 2011 was 12% higher than December 2010 - the fifth month in a row of higher year-on-year lending... read more...
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18 Jan 2012
The Council of Mortgage Lenders welcomes and broadly supports the revised package of proposed reforms published in a consultation paper by the Financial Services Authority... read more...
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12 Jan 2012
Interest rates have been kept at 0.5% since March 2009... read more...
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21 Dec 2011
Home sales hit their highest monthly level of the year so far in November, figures from HM Revenue and Customs (HMRC) have shown... read more...
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19 Dec 2011
Financial Services Authority (FSA), has moved a step closer towards tighter regulation of mortgage lending... read more...
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8 Dec 2011
UK interest rates have been held at a record low of 0.5% by the Bank of England's Monetary Policy Committee... read more...
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1 Dec 2011
Housing market activity will surge in 2013 after a stagnant few years, according to forecasts from the Office for Budget Responsibility (OBR)... read more...
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29 Nov 2011
Nationwide said the average home rose in value by 0.4% in November to £165,798. This was a 1.6% year-on-year increase... read more...
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24 Nov 2011
Office of Fair Trading (OFT) has outlined a set of standards it expects from brokers and intermediaries. Brokers must explain rights to refunds to consumers... read more...
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6 Feb 2010
Interest rates on personal loans hit a nine year high as banks continue to shy away from unsecured lending.
Interest rates have been forced up by a lack of competition and higher pricing for risk in the face of rising default rates. Three quarters of banks now restrict personal loans to existing customers.
According to Moneyfacts.co.uk the average rate for a £5,000 loan repaid over three years is currently 12.4%. The last time loan rates were this high was in 2001 when bank base rate was 6%. Bank base rate is currently 0.5%.
The best rate for a personal loan is also at a nine year high of 8.9% offered by Alliance & Leicester on a loan of £5,000 over three years.
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