Loans
Drop in IVAs not due to drop in demand
Increasing numbers of IVA applications are being rejected by creditors who are tightening their criteria in an attempt to shore up their own dwindling reserves, says Terry Balfour of IVA comparison site IVA.com.
Borrowing pain continues as loan rates increase again
Esther James, analyst at Moneyfacts.co.uk, comments: "Family finances continue to be stretched, causing many to consider consolidating existing debts into one loan as a means of reducing monthly outgoings. Borrowers, however, will find that the reduction may not be as great as expected.
Zopa launches unique ‘Young Markets' service
Zopa - the world's first person-to-person online lending exchange (uk.zopa.com) - has just launched its new ‘Young Markets' service to help those aged 20 to 25 obtain unsecured loans at very competitive rates.
First Plus not to accept any new business
Commenting on First Plus's announcement that it will not accept any new business from 9 August, Tim Moss, head of loans at price comparison site moneysupermarket.com, said: "First Plus's announcement that it will not accept any new business from 9 August is a huge blow to the debt consolidation market.
Zopa membership passes the 200,000 mark
Zopa - the world's first person to person online lending exchange - is pleased to announce that the total number of members has passed the 200,000 milestone.
Government measures to provide affordable credit
Commenting on the Government's announced measures to provide affordable credit, Tim Moss, head of loans at moneysupermarket.com, said: "Cheap debt is a thing of the past, with many Brits finding it increasingly difficult to be accepted for any form of credit.
Low rate loans a thing of the past
Michelle Slade, analyst at Moneyfacts.co.uk, comments: "Anyone looking for a personal loan can no longer find rates of less than 7%. Yourpersonalloan.co.uk, which is funded by The Co-operative Bank, has increased its rate from 6.9% to 7.3%.
Expense of holidays looms over cash-strapped families
Families struggling to make their budgets stretch as inflation continues to soar need to ensure they stay on firm financial ground as one of the most costly times of the year approaches – summer holidays.
FSA launches payment protection insurance comparison tables
The Financial Services Authority (FSA) has launched free, impartial comparison tables for payment protection insurance (PPI) on its consumer website.
Unsecured loans: how times have changed
We've all seen the best buy tables but what's happened to the consumer who takes out the ‘average' product?
Rise in cost of living brings payday loans to fore
With the prices of the essentials of life such as basic foods and petrol continuing to spiral out of control, a record number of Brits are turning to payday loans to help tide them over financially.
More personal loan pain for borrowers
Michelle Slade, analyst at Moneyfacts.co.uk, comments "It's not only mortgage rates that continue to increase, so too have the rates and monthly repayments on personal loans.
A great alternative to money shops and payday loans
As a result of the credit crunch, more and more people are being forced to look for alternative sources of credit, and ‘money shops' are springing up around the country.
£20bn issued in unsecured loans without proof of income
More than two thirds of the money lent in unsecured loans in the last year was granted without consumers being asked to prove their income, according to uSwitch.com, the independent price comparison and switching service.
Credit crunch turns the screw on loan rates
Banks, building societies and financial services providers have hiked personal loan interest rates in the first three months of 2008 despite a Bank of England base rate cut, according to MoneyExpert.com.