Personal loan news, Jul - Sep 2007

'No quick fix' in PPI investigation

27 September 2007

Despite recent changes to the way payment protection insurance (PPI) is sold, many companies are still not making it clear to customers that the product is optional, prompting consumer bodies to state that more needs to be done to ensure a fair deal for the consumer.

Chancellor warns on rising consumer debt

13 September 2007

The Chancellor has called for a return to "good old-fashioned banking" in a response to the UK's rising debt levels.

CAB reports record debt enquiries

11 September 2007

The number of people approaching the Citizens Advice Bureau (CAB) to seek advice about their debt problems has hit record levels - highlighting the need for both lenders and consumers to take responsible action.

Britons use loans to head back to school

05 September 2007

Over ten million UK adults plan on going back to school this year by taking an educational course outside of their current job, with 2% of these using a personal loan to cover the cost.

Number of people planning to buy a car increases

04 September 2007

Britons will spend over £58 billion in the next six months on buying a new set of wheels and one in three will use loans to help them with the cost, a new report has found.

50% of Britons worried about rate rises

30 August 2007

Nearly half of Britons say they are concerned every month about the effect that possible interest rate rises may have on their finances.

Barclays launches new personal loan for drivers

21 August 2007

Barclays has announced details of a new personal loan designed specifically for people wanting to buy themselves a brand new set of wheels.

11 yr debt sentence for today's graduates

14 August 2007

As the new academic year looms for many undergraduates, new research has revealed it will take many students up to 11 years to pay back their student loans, with many even considering bankruptcy in an attempt to rid themselves of their debt burden.

Consumer confidence hides delay in interest rate effect

13 August 2007

UK homeowners remain confident about the state of their finances, despite recent interest rate rises; however economists have warned that this feeling may not last for too mush longer.

BoE suggest further rate rise

09 August 2007

Interest rates could rise to 6% in the coming months in order to manage rising inflation, a Bank of England (BoE) report has suggested.

Past credit ratings described as good indicator of future behaviour

23 July 2007

A poor credit score in the past has been described as being more influential than present circumstances, by a spokesman for a leading bank.

Personal loans could become more popular

19 July 2007

Taking out a personal loan to cover the cost of a car or to consolidate credit card debts may be a more attractive prospect in the coming months, as a report by the British Societies Association (BSA) has revealed the affects of the recent interest rate rises are starting to be felt by UK consumers.

Loans used to fund redundant purchases

18 July 2007

Britons have spent over 169 billion buying expensive items such as clothes, games consoles and gym equipment that have never been taken out of their boxes, let alone used.

Summer holiday costs rising

13 July 2007

The cost of entertaining children this summer will set UK parents back around 4.7 billion, it has been revealed.

PPI changes mean better deal for consumers

13 July 2007

Consumers are set to benefit from an overhaul of the way payment protection insurance (PPI) is sold online, the Financial Services Authority (FSA) has revealed.

Loans used to fund wedding day dreams

12 July 2007

With the summer months here and the wedding season upon us, many soon-to-be-married couples are taking out loans to ensure their special day is one to remember.

Consumers wait for effects of further interest rate rise

06 July 2007

Consumers are waiting to feel the effects of the Bank of England's decision to raise interest rates to 5.75%.

Sainsbury's cuts loan rates

04 July 2007

Sainsbury's Bank has announced it is to cut rates for people applying for its online loans, good news for the vast majority of Britons concerned about forthcoming interest rate rises.



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