Loans
Personal loan rates take a battering
Lisa Taylor, analyst at Moneyfacts.co.uk, comments: “This week loan rates have taken a real battering, with a total of nine providers hiking interest rates on some tiers by up to 4%.
Parents paying for university education
Nearly three fifths of parents (57%) said their children either have, or will need to take out a Student Loan to fund their university education, according to research from Halifax Unsecured Personal Loans.
ABCUL welcomes crackdown on loan sharks
ABCUL – the Association of British Credit Unions – has welcomed the Government’s crackdown on loan sharks.
Alliance & Leicester to offer best personal loan rate
Alliance & Leicester is to offer the best personal loan rate in the UK at only 6.3% APR, making it available to existing Premier or Premier Direct customers and new customers at Alliance & Leicester.
Stuck in a 'debt sentence'
The majority of people who take out a personal loan to consolidate existing debts go on to build up more debt and struggle with the consequences.
Picture Financial: Denial of debt in the UK
In response to statistics released by Chiltern today showing that one in 16 Britons are officially overindebted, Picture Financial highlights the importance of individuals becoming more engaged with their money management.
Britain’s overindebted in denial
Nearly four million Britons are officially overindebted but two-thirds of them are in denial according to research from leading debt management specialist Chiltern.
Stuck-in-a rut Britons head back to school
It’s not just the kids who are heading back to school this September. Latest research from Abbey Loans finds that over ten million (22 per cent) British adults plan to undertake an educational course outside of their current job in the next twelve months.
Picture Financial: Levels of borrowing in the UK
The gross domestic product (GDP) of Great Britain will hit £1.33 trillion this year, less than the £1.35 trillion which was outstanding on mortgages, credit cards and personal loans in June, according to a report by Grant Thornton.
Borrowers unrealistic about paying debt off
Two thirds of borrowers (66%) have unrealistic expectations about how quickly they can pay off their debts, according to research by personal finance information website Fool.co.uk.
New players top the charts
Samantha Owens, Head of Personal Finance at Moneyfacts.co.uk, comments: “With the average adult owing around £8,000 in unsecured debt, demand for personal loans may still be high.
Degrees of debt consign graduates to 11 year ‘debt sentence’
Over the past decade annual student debt has increased by a staggering 167% - from £1.2 billion to £3.2 billion, according to a new study by uSwitch.com.
Loan-a-friend Brits hand out £510 million
Britain is officially a nation of big lenders, as research from Abbey Loans finds that 4.4 million Brits (nine per cent) lend or borrow a sum of money over £50 from friends each year - totalling a whopping £510 million. The average friend-to-friend loan stands at £116.
Don’t let a personal loan turn into a millstone
David Kuo, Head of Personal Finance at Fool.co.uk, says: “Today’s news that the number of personal insolvencies in the second quarter has risen 4% to 26,956 from a year ago is a timely reminder that none of us can afford to be complacent as long as we owe money.
Loan rates continue to climb
Samantha Owens, Head of Personal Finance at Moneyfacts.co.uk, comments: “This past year has seen a raft of rate increases and this has gradually been filtering through into the personal loan market. In just the last 14 days eighteen lenders have increased loan rates by as much as 4%.