Archive for May, 2006

TweetShareApril’s total loan value rose by £5,278 million, compared to £5,087 million in March and £4,442 million in April 2005. “Overall, the trends in consumer lending appear stable,” said David Dooks, BBA director of statistics. “After March’s stronger figures, mortgage lending fell back in April to around the recent average and, although credit card lending [...]

TweetShareRobin Amlot, senior editor of AWD Moneyextra, the financial service information website, has hit out at the fact that not only are the interest rates high, the people pushing the card are often clueless about the product they are offering. With a temptation to promote the benefits of the cards only – such as discounted [...]

TweetShareBarrow In Furness residents are now in average debt to the tune of £19,275, up from £13,647 a year ago. Debt advisors, ClearDebt, claimed that these figures were low for the north-west region. “Our database of more than 15,000 over-indebted individuals shows average debt for the north-west as a whole is £23,002 – well ahead [...]

TweetShareSandra Quinn, director of communications at Apacs, said of the launch of the developed service: “As an industry we are committed to improving consumers’ understanding of credit cards and encouraging responsible borrowing.” Credit card debt can be a problem to many families around Britain with many people having more than one credit card which has [...]

TweetShareAccording to suggestions from financial comparison website uSwitch, the problem with zero per cent interest credit cards was that banks lost control of the system, with the business being led by whichever provider offered the rate for longest. “As a lender you can’t beat a zero per cent deal except to do it for longer,” [...]