Secured loan news, Jul - Sep 2008

Secured loan customers offered glimmer of hope

24 September 2008

Customers taking out secured loans were offered a glimmer of hope recently when Bank of England Deputy Governor Sir John Gieve suggested interest rates may be too high.

Secured loans consultation launched

15 September 2008

A consultation has been launched on the regulation of secured loans in a bid to ensure that consumers are treated fairly and are adequately protected.

FSA urged to take action on PPI

12 September 2008

The Financial Services Authority (FSA) is being urged to crack down on the mis-selling of payment protection insurance (PPI) following a surge in complaints from consumers.

Analysts expect no change in base rates

04 September 2008

The majority of economists expect the Bank of England to leave the base rate unchanged today, meaning secured loan customers are unlikely to see any reduction in their repayments.

UK personal debt 'higher than GDP'

01 September 2008

Total personal debt among UK consumers has exceeded national income for the second consecutive year, according to the accountants Grant Thornton.

Experts predict no change in borrowing rates

29 August 2008

Economists have predicted that there will be no change in interest rates by the Bank of England next month.

BCC calls for rate cuts

18 August 2008

The British Chambers of Commerce (BCC) is calling for cuts in interest rates to prevent the British economy from entering into a serious recession.

Interest rate kept on hold

08 August 2008

The Bank of England base rate has been kept on hold after the monetary policy committee (MPC) voted not to change the cost of borrowing.

Rate reduction needed 'to restore consumer confidence'

06 August 2008

A reduction in the Bank of England base rate is needed in order to stimulate consumer confidence, according to the National Association of Estate Agents (NAEA).

Interest rates 'will remain unchanged'

05 August 2008

Interest rates are likely to remain unchanged for "quite a few more months to come", according to the UK Chief Economist at Global Insight.

MPC member insists higher interest rates 'justifiable'

01 August 2008

A member of the Bank of England's monetary policy committee (MPC) has insisted that higher interest rates are "justifiable" given the currently inflationary environment.

Secured loans 'still a viable debt solution'

24 July 2008

A secured consolidation loan is still a "viable debt solution" for many homeowners, according to thinkmoney.com.

MPC member calls for rate cut

23 July 2008

A member of the Bank of England's Monetary Policy Committee has called for a cut in interest rates to alleviate the pressure on consumers.



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