Millions inspired to save more.
44% of people aged 18 to 34 agreed they would put more into their workplace or personal pension in the wake of the Chancellor's announcement in March, Legal & General's MoneyMood survey found. Managing director for marketing and distribution Helen Buchanan said: "The positive response among young pension savers to...Read More
Are you ready for the 3% interest rate?
Now is really the perfect time to borrow money at competitive levels with interest rates still attractively low before the Bank of England begins the baby steps of increasing it to halt the unstoppable rise in house prices. A senior figure within the BoE has today indicated that in the...Read More
FCA announcement on Debt Help and Advice Ltd.
A Stockport debt management business, which last year had its credit licence stripped only to be rescued in a management buyout saving 100 jobs, has ceased trading leaving more than 3,000 customers in the lurch and its staff in Limbo. The Financial Conduct Authority (FCA) has now confirmed that First Step Finance...Read More
Tough FCA rules impacts mortgage and secured loans
It seems the predication of a slight dip in mortgages and secured loans as a result of stricter rules imposed by the FCA has come into fruition as latest figures confirmed a slowdown by 12% during April. The latest numbers gathered indicate that during the month mortgage lending reached £49.5...Read More
FCA actively influencing changes, starting with Payday
The FCA( Financial Conduct Authority) has uncovered widespread shortcomings in consumer credit promotions, such as payday loan advertisements. About one fifth of approx 500 promotions reviewed either omitted important information about the products or made it difficult to find. The FCA assumed responsibility for the regulation of the consumer credit sector on...Read More
Consumer Credit Market to face rigorous regulations says FCA
The consumer credit industry will be expected to conform to high standards as new regulations set out by the Financial Conduct Authority come into place from 1 April 2014. The new rules will govern the 50,000 firms who operate in the industry, aiming at protecting borrowers with measures such as...Read More
Bank of England Interest rates to stay, For NOW!
The Governor of the Bank of England today said that interest rates will stay low for “some time” as the economy steadily returns to normal. Mark Carney played down fears of sudden hikes in mortgage bills for millions of families later this year and said the cost of borrowing will...Read More
Future generation not deterred by new mortgage rules
The latest headlines about the intrusive type of questioning mortgage applicants have to endure to pass the eligibility test seems to have not have any impact on young people seeking to get on the property ladder. Loans advances have reportedly slashed as a result of what has been labelled as...Read More
Are you prepared for the rate rise?
It’s well documented for a while now borrowers have been benefiting from the low interest rates imposed by the Bank of England but a new report has warned that a sudden increase could see the UK economy that relies so much on consumer spending go back into recession. The biggest...Read More