Personal loan news, Oct - Dec 2007

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FSA: Many are fearful of Christmas bills

31 December 2007

Britons "too scared" to open their post-Christmas personal loan and credit card bills are risking serious financial consequences for the future, the Financial Services Authority (FSA) has said.

Sainsbury's reduces loan rates

19 December 2007

Sainsbury's bank has announced a cut in its personal loan rates of 0.4%, in a new limited offer.

Bank sales of loans are aggressive say Citizens Advice Bureau

17 December 2007

The Citizens Advice Bureau (CAB) has accused some UK banks of sharp practices when it comes to their advertising of personal loans.

Banks to continue loans discrimination

10 December 2007

The right of high street banks to practice age discrimination in their provision of credit has been upheld, the BBC reports.

'Tight call' for interest rates

06 December 2007

The Bank of England is under increasing pressure to cut interest rates today.

BBA implements new IVA standards

05 December 2007

The British Bankers' Association (BBA) has announced a set of new standards to help people in debt to manage their financial problems through Individual Voluntary Arrangements (IVAs).

Experts recommend interest rate cuts

03 December 2007

Ongoing fears of a downturn in the housing market have led to calls for the Bank of England to cut interest rates.

Barclays: Customer debt levels improving

29 November 2007

Customers are not suffering as much with personal debts as has been feared, Barclays said yesterday.

Worries about economic climate increase

28 November 2007

Britons are preparing to tighten their belts - with over a third found to be concerned with the apparent economic slowdown in the UK.

Warning on Thanksgiving hackers

23 November 2007

The US Thanksgiving weekend is no longer just a time for culinary over-indulgence, sports-watching and taking time off work.

Consumers' loan fears following HMRC lapse

22 November 2007

UK consumers are phoning credit reference agencies in large numbers, frightened that their personal data has been stolen due to the security lapse at HM Revenue & Customs (HMRC).

BoE: Interest rates might soon be cut

16 November 2007

The clearest signal yet that interest rates are to fall soon has been made by the Bank of England, whose Monetary Policy Committee (MPC) meets to set the rate each month.

Loan insurance court challenge announced

14 November 2007

A series of court dates have been set for irate customers hoping to claim money from banks they say have mis-sold them loan insurance, Reuters reports.

Interest rates stay at 5.75%

09 November 2007

The Bank of England's nine-member monetary policy committee (MPC) has kept interest rates at 5.75% for another month.

Citizens Advice: Firms must help fight consumer debt

07 November 2007

UK businesses and financial regulators must join forces to tackle the problem of consumer debt, Citizens Advice said yesterday.

Britons owe family members big say Skipton Building Society

05 November 2007

The UK's debt mountain is not just built by mortgages and personal loans, Skipton building society has revealed.

Interest rate cut not on agenda

05 November 2007

Borrowers of personal loans hoping for an interest rate cut from the Bank of England later this week seem likely to be disappointed.

Cash savings outpace borrowing say Alliance & Leicester

02 November 2007

Overall savings levels in the UK are set to rise still further in the next few years, research from Alliance & Leicester (A&L) shows.

Cut in rates predicted for 2008

02 November 2007

A 0.25% cut in interest rates by the Bank of England for early 2008 is predicted by a major new poll, released today.

Bank of England: Britain's personal debt grows

30 October 2007

The rate of debt for personal loans in Britain continues to rise, new figures from the Bank of England show.