UK Finance News

Interest rates charged by Building Society’s and Banks on fixed rate mortgages rose by an average of half a percent between June and July this year, making the highest level this year.
The average rate on a five-year 75 percent loan-to-value mortgage taken out in July rose  to 5.7 percent, its highest level since October. Similarly [...]

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The latest report from the Council of Mortgage Lenders (CML) says that the number of mortgages granted to home buyers in June rose by 23% on the previous month of May and stand at just 6% lower than in June last year.
The CML say that there is currently some stability in the housing market although [...]

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Royal Bank of Scotland (RBS) has reported losses of £1bn net for the first six months of 2009, disappointing a market that was expecting the bank to show a small profit.
RBS Investment bank profits failed to wipe out the bad debts of the state owned lender, leaving the bank to suggest that there will be [...]

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The Bank of England (BoE) has shocked financial experts by expanding it’s quantitative easing plan from the current level of £125bn to £175bn. The surprise decision was based on the Bank’s findings that the UK recession is deeper than at first thought and while there are signs that we are reaching the bottom of the [...]

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Loan sharks don’t get a lot of mention these days so I was drawn to this story about such a loan shark who has been sentenced to five years in prison for various offences including blackmailing and illegal money lending.
The ‘ruthless individual’ charged up to 2,437 per cent interest to poor families living on Manchester’s [...]

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