Base rate held at 5%
The base rate of interest has been held at five per cent, the Bank of England has announced. Members of the bank’s monetary policy committee (MPC) opted not to take action on interest rates having reduced them last month in…
New advice for Brits threatened with repossession
A new advice service has been introduced that will aim to help individuals around the UK who are at risk of losing their home due to debt management problems, it has been announced. The UK Insolvency Helpline claims to offer…
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Banking fees ‘are a bit too nasty’
The ways in which banking fees are being levied against British consumers are a “bit too nasty”, it has been claimed. According to Marc Gander, founder of the Consumer Action Group, these charges are being made most often against people…
Warning fired for credit applicants
People considering applying for more credit card debt have been warned that they should be sure of acceptance before doing so. According to David Kuo, head of personal finance at Fool.co.uk, consumers risk worsening their own debt management scenario by…
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Estate agents ‘shutting up shop’ as debt woes worsen
Estate agents around the country are closing their doors as millions of consumers struggle to maintain control of their debt management problems, it has been suggested. Figures compiled by financial data provider debtwire have shown that there are now almost…
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Brits ‘being too decent’ over bank charges
British consumers are being too decent and overly polite in how they deal with their banks in regards to the issue of overdraft charges, it has been suggested. Marc Gander, founder of the Consumer Action Group, maintains that British people…
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Lack of loans ‘will see bankruptcies rise’
The lack of credit availability will see bankruptcy levels rise across the UK in months to come, according to one expert. Anna Sofat, founder of financial management firm Addidi Wealth, is convinced that many people with debt problems will be…
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Lack of credit ‘hurting economic recovery effort’
The lack of willingness among money lenders to offer credit deals to British consumers is damaging the effort to improve the national economy, it has been suggested. According to the deputy governor of the Bank of England Sir John Gieve,…
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