Consumer credit advances fell by 7 per cent during March as people remained cautious about taking on more debt, new figures have revealed. Related Stories Bank of England downgrades growth figures Retailers ‘face declining growth’ Financial services complaints soar £2.5bn loans fund for small firms Bank accused over lending targets View full post on All [...]
Worst-hit areas of the country will be those that suffer the heaviest public-sector layoffs Homeowners should brace themselves for a “short, sharp shock”, with house prices set to fall by up to 20% over the next two years as rising unemployment and public spending cuts take their toll, experts are warning. The cost of the [...]
Caught between calls to rein in inflation and prop up the fragile economic recovery, BoE’s Monetary Policy Committee decided to support the government’s fiscal tightening efforts without bumping off the shoots of economic recovery. View full post on All Stories
Vittorio Hernandez – AHN News Newcastle upon Tyne, England, United Kingdom (AHN) – Bank of England Governor Mervyn King warned Tuesday that Britain’s standard of living is plummeting fast. He made the warning following the report by the Office for National Statistics that the country’s gross domestic product logged a minus 0.5 percent growth rate [...]
Large British banks are planning to establish an institution that would lend to small businesses in view of pressure from the Bank of England for the big financial institutions to hike lending, not bonuses to bank executives. View full post on Banking Stories
AHN News Staff London, United Kingdom (AHN) – British supermarket giant Tesco’s planned foray into the home loans business may be delayed by at least a year. Tesco initially anticipated opening its own home mortgage unit by autumn; however, the company is having difficulty securing the needed permits from the Financial Services Authority. The FSA [...]
photo credit: Hamed Saber Anyone who may fall into the lower income bracket and those with a poor credit record are going to have to pay higher interest rates, up to 19.9%, to enable them to borrow money for a personal loan. It seems very unfair but it has recently emerged that the Nationwide Building [...]
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