If you were to take a snapshot of UK consumer finances at the moment, you’d be excused for feeling less than chipper. The Centre for Policy studies has recently published a report that shows that the total cost of running an average home (with mortgage) rose from £9,837 during 2006, to £11,780 during 2007. This equates to a rise of almost 20% - almost double ...
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- Tuesday, February 12, 2008, 15:55
- Credit Cards, Personal Finance
With credit card companies purported to be preparing to begin sharing customer information come the spring, borrowers on both ends of the credit rating spectrum may find themselves being penalised. As can be seen in the case of
Egg’s recent controversial decision to cancel the credit cards of 160,000 of its customers, lenders are ...
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- Thursday, February 7, 2008, 13:49
- Loans, Mortgages, Personal Finance
The Bank of England's Monetary Policy Committee has voted to reduce interest rates to 5.25% this morning. The second rate drop in three months, today's vote was in response to growing evidence of an economic downturn, combined with the increasing risk of inflation in the coming months as global financial markets face further uncertainty and borrowing conditions for consumers and businesses tighten. Higher energy and ...
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- Wednesday, February 6, 2008, 13:39
- Credit Cards
Thousands of Egg credit card customers have had their credit cards cancelled following an extensive one-off credit review. Egg wrote to around 160,000 customers last week, informing them that their Egg credit cards were being cancelled. Affected customers will no longer have access to credit through Egg, but are able to continue repaying their debts as usual.
Egg, owned by Citibank, claims the move was in ...
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- Friday, February 1, 2008, 13:49
- Mortgages
Much press attention has been given over recent months to the predicted remortgage repayment shocks for homeowners due to complete their cheap fixed-rate interest mortgage deals. The average consumer approaching the end of their introductory period is expected to feel increased pressure on their finances due to the interest rate rises of the past 18 months; despite December’s drop, interest rates are still such that ...
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