Loans
Sub six percent loans vanish
Michelle Slade, Personal Finance Analyst at Moneyfacts.co.uk, comments: “With rising bad debts, interest rates and economic instability, it is no surprise that rates have been increasing. This week saw the final sub six percent loan vanish: a 5.9% from Masterloan.
Zopa to pass on interest rate rise to lenders
Zopa lenders with money waiting to be lent out to borrowers will enjoy the full benefit of the Bank of England’s base rate rise as of midnight tonight.
The good and bad sides of consolidation loans
Fool.co.uk urges consumers who take out consolidation loans to resist the temptation of running up further debt.
The Post Office: Which?'s payment protection insurance research
The Post Office has applauded the Which? research highlighting underhand sales tactics where by payment protection insurance (PPI) is automatically added to a loan, but is not compulsory.
Quick online decisions fuelling loan rejections
Around one in three personal loans can now be approved with a quick online decision, new analysis by MoneyExpert.com shows.
Bank of Scotland tops loan tables
Bank of Scotland is offering an unsecured personal loan with a best buy rate of just 6.1% APR (typical) via moneysupermarket.com.
Motorists missing the opportunity to save environment and money
With a ‘green’ Budget expected from Gordon Brown later this month, new research from Alliance & Leicester Personal Loans reveals that motorists are missing out on an opportunity to save the environment through their choice of car.
Nationwide Personal Loans update
With effect from Thursday 15 March 2007, the rates on Nationwide Personal Loans will be as follows:
Social Lending is two years old - Happy Birthday Zopa!
Zopa and its members celebrate two years of pioneering a better way to do money with a people-powered alternative to the banks.
Bank profits up and loan rates up as well
Michelle Slade, personal finance analyst at moneyfacts.co.uk comments: “Exactly one month ago, moneyfacts.co.uk reported that sub six percent loans were becoming an endangered species. Today, such loans are close to becoming extinct with only one loan provider to offer a sub six percent loan: Masterloan, with 5.9% (typical) on advances between £5K - £15K
Debt problems force six million to consolidate
More than six million people have taken on more debt in the past three years in a bid to get their borrowing under control, new research from MoneyExpert.com shows. Around one in seven adults have turned to debt consolidation to ease their financial problems with unsecured personal loans the most popular choice.
Big Bank’s profits cost every UK household £475 each year
Now that two of the Big Banks have published last year’s results, Zopa estimates that when results are in from all five, the cost of these profits to each household in the UK on average will be a staggering £475.
Ever increasing debt circles
The majority of people who take out a loan to consolidate debt then take on more debt and struggle with the consequences.
Valentine’s Day messages show strength of Social Lending
In the run up to Valentine’s Day this year, Zopa - the world’s first marketplace where people meet to lend and borrow money, set up the opportunity for its borrowers and lenders to send each other Valentine’s messages.
Brits pay £9.3bn too much interest on borrowing each year
As the UK’s personal debt crisis continues to deepen, Zopa estimates that people in the UK are paying £9.3 billion p.a. too much interest on their unsecured borrowing.