Archive for the ‘loans’ Category

Loan rate cut by Tesco Bank to 6.7%

Thursday, September 29th, 2011

 

Tesco bank as cut its interest rate on loans from £7,500 to £14,999 for new customers from 7.4% to 6.7% APR representative.

You could find a great deal with Tesco bank if you are considering doing home improvements, want to buy a new car or to consolidate your debts.

Representative Example:

 

Loan Amount £10,000

Monthly Payment £237.16

Term of Loan 48 months

Total amount Repayable £11,383.68

-6.7% APR representative (this is also the borrowing rate). All rates are fixed.

For loans in excess of £15,000 the rate has dropped from 8.5% to 8.3% APR representative.

Complaints flood in on PPI

Wednesday, August 3rd, 2011

There have been more than 900 complaints about PPI every day a report out from Moneyfacts.co.uk state.

The first three months of the financial year was at its busiest. FOS received 81,000 complaints from April to July this year- more than double the number that were made for the same period last year.

Most of the complaints are regarding PPI after banks lost the ruling to pay back the policies I the high court this year.

Figures out from some banks have revealed PPI is having an effect on the balance sheets.

Mortgage lending data published

Wednesday, June 29th, 2011

The FSA publish Mortgage Lending Data

The data is as follows:

 Outstanding loans total was reduced from the last quarter to £1,212bn in Q1.

£5bn in new commitments that is a 1% increase on the last quarter and £5 on last year.

There was a reduced share in house purchases on new lending and this accounted for 54% of new advances and 52% of new commitments.

New lending done at LTV of more than 90% fell below 2% for the first time since Q1 last year.