Business Loans See Increased Numbers
The business loan market in the UK remains particularly sluggish, despite many attempts by the government to get high street banks to start offering loans to small and medium sized businesses, in an attempt to help to revitalise the UK economy. Although the majority of high street banks still seem extremely reluctant to offer business loans to firms, HSBC has seen a dramatic increase in the number of loans it is offering to small and medium sized firms, with around £3.1 billion worth of new business loans being offered in the first three months of this year alone. This is clearly an impressive start to the year for the bank and shows an increase of around 7 per cent in new loans, compared with the same period twelve months ago and shows that HSBC is on target to fulfil its objective of offering £12 billion worth of business loans over the course of this year.
Continue reading...Families Reliant On Loans Long Before Credit Crunch
Thursday, May 17, 2012
There is a great deal of talk these days about the level of personal held by individuals in the UK, on things like personal loans and credit cards at the moment and how many people are reliant on loans and credit to supplement their lifestyle. Whilst much of this current loan debt is blamed on the credit crunch and current economic situation in the country, a new report has suggested that many families across the UK were reliant on personal loans and credit cards long before the credit crunch ever happened. The independent think tank, Resolution Foundation, has published a report which shows that many households were spending more money than they earned, for up to ten years prior to the credit crunch, funding the difference between income and expenditure with personal loans and credit cards
Continue reading...House Sales Fall Through Due To Loans
Wednesday, May 16, 2012
There are many challenges facing people who are looking to buy a house or move up the property ladder including, high property prices, affordability issues, raising a large enough deposit and being accepted for the home owner loan or mortgage which is required to fund the purchase. A new survey has found that the biggest obstacle facing potential home buyers is that of being accepted for a suitable homer owner loan or mortgage.
Continue reading...Borro Increase Business Loan Size
Tuesday, May 15, 2012
Ever since the credit crunch hit the UK, many small and medium sized businesses have found it particularly difficult to obtain the business loan they require, as high street bank seem to be more reluctant than ever to offer loans to small firms. Although the government is introducing various schemes and placing pressure on banks to offer business loans to small and medium sized firms, the latest figures from the Bank of England have revealed that business loans have actually reduced by around 3.5 per cent since the same time twelve months ago. However, the secured loan broker Borro, has actually seen their average business loan size increase over the first three months of this year, by around 17 per cent, from an average loan amount of £17,000 to £20,000.
Continue reading...Lenders Tighten Up On First Time Buyer Loans
Monday, May 14, 2012
Following the boom of first time buyers trying to get a home owner loan and onto the housing market before the end of the stamp duty holiday in March, many banks and building societies are starting to tighten their lending criteria once again, particularly when it comes to high loan to value loan deals. Despite the government introducing new schemes to try and help first time buyers get onto the housing and home owner loan market, the number of first time buyers taking out loans of less than £125,000 fell by 5 per cent in April this year compared with the previous month and was 1.2 per cent lower than loan numbers at the same time last year. The news comes from e surv, who say that new loans for smaller amounts fell to just 11,307 throughout the month of April this year
Continue reading...Loan Base Rate Stays On Hold
Friday, May 11, 2012
Despite the fact that there is a great amount of turmoil within the home owner loan and unsecured loan markets at the moment, there was a continuity of stability from the Bank of England yesterday (Thursday 10th May), as the announcement was made that the base rate of interest for loans and savings was to remain on hold for another month. The news came as no surprise to anyone, as the Monetary Policy Committee (MPC) took the decision during their regular monthly meeting to keep the base rate on hold at just 0.5 per cent. The base rate for loans and savings has now been held at this historically low level since March 2009, when the MPC reduced the rate from 1 per cent.
Continue reading...Consumers Starting To Take Loans Again
Thursday, May 10, 2012
After several years of people trying not to take out personal loans, credit cards and other forms of consumer credit, due to the credit crunch and the current state of the economy in the UK, there have been signs of a return to borrowing, according to one trade body.
Continue reading...What Is The Solution For Business Loans?
Wednesday, May 9, 2012
For some time now, one of the biggest problems and challenges facing banks and the government is that of finding new and affordable ways of providing business loans to small and medium sized firms across the UK. There have been many complaints from firms, that banks are not prepared to offer business loans at reasonable interest rates and many have simply been rejected for the business loan they require to allow their company to function or expand
Continue reading...Loan Numbers Increase In March
Tuesday, May 8, 2012
Despite the currently gloomy situation in the UK economy and the prospect of a further recession, consumers in the UK continued to take out new loans for large amounts throughout the month of March, according to the latest figures from the Bank of England. The total amount of new loans across the whole of the loans market increased by £1.4 billion throughout March, which shows an increase over the six month average figure of just £1.3 billion.
Continue reading...Equity Release Loans Continue To Increase
Friday, May 4, 2012
Over the course of the past few years, we have seen a significant increase in the number of home owners taking out equity release loans, either to help und their retirement, or to help family members with paying off their loan debts or deposits for new home owner loans. The latest figures from the equity release loan specialist, Key Retirement Solutions (KRS) have shown that sales of equity release loans have increased yet further over the course of the first three months of this year
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Friday, May 18, 2012
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