More job cuts at Lloyds TSB

Despite becoming what was described as a super-bank following its takeover of troubles banking group HBOS, Lloyds TSB has announced a fresh round of job cuts earlier this month, with the announcement that it would be closing all of its Cheltenham & Gloucester branches. Read more

Economic growth will be slow according to CBI

According to the Confederation of British Industry the growth of the UK economy still has a long way to go, and progress is likely to be slow. The comments from the CBI came amidst a variety of other industry reports that showed encouraging figures with regards to output and growth over April and May, and showed a rise in consumer confidence, as well as increased interest in the housing market from first time buyers. Read more

Economic recovery depends partly on continued lending

The deputy governor of the Bank of England, Paul Tucker, has recently spoken out about the future of the UK’s economy, and has stated that in his opinion the future of the economy partly depends on continued credit being extended by lenders. Read more

Different Types of Savings Accounts

When you go to the bank to open a savings account, there are several different kinds that you can choose from. You should take a look at the various offerings to choose the best savings account for your needs. Read more

Two thirds of potential buyers giving up on homeownership dreams

It has been reported that around two thirds of would be buyers that were hoping to get their foot onto the first rung of the property ladder have now decided to give up on their dream for now because of the difficult financial climate and the lack of mortgage availability. Read more

Information about the Car Scrapping Scheme

The 2009 budget announced an initiative by the government to get as many old cars off the roads and highways of the UK in what they termed a car scrapping scheme. In this plan, anyone who trades in an older model car and purchases a new one could receive a £2000 discount towards the purchase. This “bangers for cars” scheme, as it has been called, is an attempt to bolster the ailing automotive industry that has been hit with heavy losses in the recession. Read more

Top spot in mobile broadband given to T-Mobile

As with any other service, consumers in the UK are looking for not only affordable prices but also great customer commitment and high quality when it comes to choosing a mobile broadband provider. Read more

UK doing better than other European economies

It has been claimed in a recent report that the economy in the UK is faring much better than other European economies, and that the UK government deserved credit for its economic policies. Read more

Unemployment rises at lower than expected rate

Recently released figures have shown that the level of unemployment rises have been lower than expected, adding to the variety of encouraging data that has been seen in a variety of recent report lately. Read more

Government moves to help the indebted

It seems that the government has decided to take drastic measures in order to help those in huge levels of debt according to a recent report. Read more

Don’t Get Ripped Off On Your Holiday This Year

It is possible that your holiday may cost you more money than you planned on spending this year. With hidden bank charges this could amount to an extra £300. Read more

90 percent mortgages fall by 97 percent over two and a half years

Most people are well aware that the mortgage market has been experiencing problems over the past couple of years, since the onset of the global credit crunch, and many mortgage products, particularly for groups such as first time buyers, have been disappearing from the shelves making it difficult for many people to get an affordable mortgage loan. Read more

G8 finance ministers discuss stabilising of economies

According to a recent report G8 finance ministers have stated that major economies around the world are starting to stabilise following the turbulence and chaos caused by the global financial crisis and the recession, the UK being one of these economies. Read more

Holiday Accommodations for £2 per Night – No Way!

If you know where to look, you can get cheap holidays with the many holiday firms scrambling to bring in consumers for the upcoming summer holidays. Many firms are offering cheap package deals in which you have unbelievable deals in accommodations, which when you combine with sales on airline flights can give you a holiday in an exotic destination for far less than you would expect to pay. Read more

Pets Don’t Have to be Expensive

According to a recent survey, pet owners in the UK spend a total of £94 million a week on items they need to give their pets the care and attention they need. You can cut down on this expense in several ways. Read more

How to Save Money When Buying Groceries

In just about every household the largest expense is that of food. And, with the rising food prices many are finding it harder and harder to manage to buy the same foods in the same quantities as they once did. The price rise in food in the past year was well above the official inflation rate at an average of 5.9%. Read more

Consumers should exercise common sense when using credit cards abroad

An industry expert has said that with the summer holidays coming up, and many Brits planning to head abroad and use their credit cards, consumers need to ensure that they use their common sense when it comes to using their credit cards whilst abroad. Read more

Overdraft interest rate increases from Barclays

Barclays Bank has recently hiked up the interest rates charged on its overdraft facilities on many of its accounts, including its packaged current accounts for which customers have to pay a monthly fee. Read more

PPI ban could mean higher fees and charges

It was announced recently that regulators are planning to stop the sale of the controversial single premium Payment Protection Insurance policies from lenders in 2010, and in fact in a bid to stop the sale of these policies regulators actually contacted lenders last month asking them to stop selling single premium PPI by the end of last month. Read more

Homeowners must be wary of repossession

Over the past couple of years the world of many homeowners has been rocked because they have suddenly found themselves threatened with the loss of their home through repossession. Thousands of struggling homeowners have indeed ended up losing their homes to repossession, whilst some have taken action early and managed to avoid losing their homes. Read more

No need to take complaints to FOS through claims handling firms

Officials from the Financial Ombudsman Service have recently reiterated that there is no need for consumers to enlist the help of claims handling firms in order to take a complaint to the FOS. Read more

Food price inflation highest in UK

According to recently released figures food price inflation in the UK is higher than any other destination in Europe. The figures show that in the UK food price inflation is around four times higher than in the rest of Europe, and at the same time supermarkets have been enjoying record profits. Read more

Iceland agrees to compensate UK

It has been revealed that the Icelandic government has finally agreed to repay the UK as well as the Dutch authorities following the collapse of the Icelandic banking system. Read more

Drivers making cutbacks to afford petrol

It has been reported that many drivers in the UK are being forced to make cutbacks in other areas in order to pay for petrol costs. Read more

How to Minimize Your Car Expenses

Having a vehicle is almost a necessity of life for most of us and one that costs us a lot of money, especially with the rising price of petrol. Along with having to pay for insurance and make the payments on the vehicle, you also have to perform regular maintenance, such as in purchasing new tires and having regular checkups performed on the engine. There are ways though that you can cut down on these costs and save yourself money. Read more

Will recession be over by autumn?

It has been claimed in a recently released report that the UK industry could have pulled itself out of recession by as early as autumn of this year, after figures showed that there was an improvement in activity in May compared to April. Read more

Car scrapping scheme could run dry of funds early

It has been announced that the car scrapping scheme that the government put into place after the budget could run out of money six months earlier than anticipated. Read more

Bank employees confused about cheque clearance

Many consumers in the UK are confused over the issue of how long it takes for a cheque to clear, and a recent survey has shown that this comes as no surprise given that employees of banks themselves are also confused about cheque clearance times. Read more

Santander to take over High Street banking names

It has been revealed that a number of well known financial names will disappear from the High Streets in the UK from next year, when they are rebranded in the name of the Spanish financial institution that owns them. Read more

Decrease in online credit card payments

Recent figures have shown that there has been a decline in the level of online credit card payments, with officials from the Nationwide Building Society claiming that use of credit cards when making online transactions has been falling and demand for an alternative method of payment from consumers has been increasing. Read more

40 percent bonus increase for FSA staff

In the midst of the ongoing financial crisis the UK’s financial regulator, the Financial Services Authority, has hiked up staff bonuses by a whopping 40 percent, according to recently released reports. Read more

Recession in UK could almost be over

Officials from the National Institute of Economic and Social Research have recently stated that the recession in the UK has almost completed its course, and could soon be over despite concerns from other industry groups and officials that it could last for another one to two years. Read more

Lower income consumers can apply for many credit cards

It has recently been revealed that despite the tighter credit conditions that have come into play since the onset of the global credit crunch many consumers who are on relatively low wages are still eligible to apply for the majority of credit cards that are available on the market. Read more

No change in base rate for third month

For the past couple of months the base interest rate in the UK has been kept at its record low of 0.5 percent, and following this month’s Monetary Policy Committee meeting the Bank of England has announced that the rate will remain on hold for a third month. Read more

Switching Health Insurance Policies

Many UK residents are scratching their heads in disbelief as the renewals for their health insurance policies come due. The premiums have risen and in many cases by as much as 10%. Since having health insurance cover is vital, many people think they have no other choice but to pay the higher premiums. Such is not the case and there are ways of relieving this type of financial pain. Read more

Consumers warned about getting foreign currency at the airport

For many people that lead busy lives organising foreign money in time for their holidays can be difficult, and many cannot find the time to get this done. Read more

£1 Can Buy You More Than You Think

In these days of tough economic times, many people may have the idea that their options for enjoying themselves are limited because of low funds and rising prices. However, you can still enjoy yourself on very little money if you know where to look. This article will give you details of 20 ways you can enjoy yourself for as little as £1. Read more

Negative retails figures announced for May

Recent figures that were released with regards to retail spending have shown that whilst there were some encouraging signs of increased spending shown over the Easter period retail gains have slipped back down again for May. Read more

Claims figures show BMW drivers not worst on road

According to a recent report many motorists think that the worst drivers on the road are those that drive BMWs. However, recently released figures relating to insurance claims have suggested that this is not the case. Read more

Average family could lose hundreds in holiday spending money

It has recently been claimed that the average family in the UK could lose hundreds of pounds worth of holiday spending money when they go away because of a combination of the weak pound and the extortionate charges imposed by credit card companies when consumers use their credit cards abroad. Read more

Getting Married? Do You Have Wedding Insurance?

Having a wedding insurance policy in place can avoid huge financial losses if something goes wrong in your home one or before the big say or even shortly after. This is something that all engage couples should consider as they plan the events of their wedding day, but the fact is that not many people know that this insurance cover even exists. Read more

Refuse jobs attracting applications in the hundreds

With unemployment levels rising in the UK, and many people finding themselves with a sudden loss of income in what has become a very difficult financial climate, it has been reported that even the most menial of positions are now attracting job applications in the hundreds from desperate people that will take any job in order to get an income. One job for a binman recently attracted nearly two hundred and forty applications from unemployed people desperate to start earning money again. Read more

Tips For Keeping Your Identity Safe

With the increases in identity theft, you have to be more careful than ever when doing your day-to-day financial transactions that you once took for granted as being safe. The simple tasks of withdrawing money from your bank account, doing the weekly grocery shopping or taking out an insurance policy has made many people victims of identity theft. Read more

Job loss misery for UK

According to recently released figures the UK has been hardest hit compared to other countries in Europe when it comes to the number of job losses during the first three months of the year. Read more

Many people putting their overdraft debt onto their credit cards

It has been claimed that many people are now turning to credit cards to get rid of their overdraft debt, with many putting their costly overdraft debt onto low interest or interest free credit cards in order to try and save some money on interest. Read more

Lack of confidence in banks spells success for building societies

Recently released figures have shown that whilst consumers have been losing confidence in banks, and banks have been losing customers hand over fist, the UK’s building societies have emerged as winners in the current financial climate. Read more

Will banking industry reforms results in higher loan and mortgage costs?

In the current financial climate most people are already struggling to keep on top of their borrowing costs, and most can ill afford to cope with even higher borrowing and mortgage costs. Read more

A guide to benefits for pensioners

As we grow older most of us hope that we will be able to enjoy a comfortable retirement with enough cash to get us through and allow us to spend some quality time with our loved ones. Read more

Protect Yourself and Help in Spotting the Scams of Fraudsters

Fraudsters have scammed UK consumers out of at least £3.5 million in 2008 alone, according to the Office of Fair Trading. Millions of consumers fall victim to these scams each year through adverts and messages sent to them through email, regular mail and by telephone. They include emails from fake bank websites, notifications of lottery wins, offers of free vacations and reduced service costs. Read more

Over one and a half million live rent free with parents and friends

According to the results of recent research carried out by Abbey there are over one and a half million people aged between eighteen and thirty four that are still living rent free with the friends or parents in the UK. Read more

Job cuts will not necessarily mean recovery

It has recently been claimed that many of the financial companies, banks, and insurance firms that have been slashing jobs over recent months will not find that this necessarily puts them on course for a speedier recovery from the financial crisis. Read more

Interest rate could rise again quickly

The chief economist at the Bank of England has warned that whilst the base interest rate in the UK has plummeted to its lowest level in history over recent months, following a series of six interest rate cuts in as many months, there is a good chance that it could rocket back up again in the future if policymakers decide that the rate needs to go up in order to keep inflation in check. Read more

Have a Holiday at Home and Still Get a Bargain

All sectors of the economy in the UK are experiencing difficulties. The travel and tourist industry has been hard hit because many people can no longer afford to spend money on a holiday when they have recently lost their jobs and need the money to pay for essential household expenses. Many of those who usually travel abroad for their holidays are reconsidering this option for 2009, electing to stay at home this summer instead. Read more

Online Banking fraud levels on the up

These days more and more people are using online banking facilities in order to carry out their banking transactions, and with an increasing number of banks offering these facilities online banking has become very popular amongst those with busy lifestyles and lots of commitments. Read more

Bailed out banks acting up

Earlier this month a number of MPs expressed their concern over how many of the leading UK banks that have been bailed out with the use of taxpayers’ money are acting terribly in the current recession. Read more

Advert with Iggy Pop gets the chop

A controversial advertisement that starred the rock icon Iggy Pop has been banned following complaints from those that wanted to sign up to the service. The advertisement was for Swiftcover insurance, and the rock star appeared on the advertisement stating that he had been swiftcovered and suggesting that others do the same thing to save themselves time and money on their insurance cover. Read more

Banks shouldn’t be given such a hard time, says Mandelson

The Business Secretary, Lord Mandelson, has recently said to colleagues that the banking industry needs to be given a break, as banks are being given a hard time at the moment. He said that whilst banks had been given a ‘well deserved bloody nose’ but that people now needed to ease up on the banks because they needed them to succeed for the sake of the economy. Read more

Cut Down On Car Insurance by Stopping to Eat

Did you know that eating while driving can cause you to pay higher premiums for your car insurance? Drivers who are caught munching while driving can face increases of as much as £200 when their car insurance policy comes up for renewal. Read more

Consumers advised to pay credit card debt and not save

In the current economic and financial climate, with the recession threatening the jobs of many people, it is not surprising that many people decide to put every spare penny into savings in the event that they should find themselves short of cash or experience a drop in income. Read more

Drivers warned against munching at the wheel

Although many drivers would not think twice about eating a snack whilst driving or taking a drink of water or pop, a recent report has revealed that actions such as these could be construed as driving without due care and attention by insurance firms, and as such drivers that are caught doing this could face insurance premium increases of up to 40 percent. Read more

Update on the American Credit Card Bill of Rights

The Credit Card Bill of Rights was just recently passed in congress. Below are some new rules and my thoughts on them.

Credit Card issuers can only increase your interest rates if:

• When the increase is under a variable interest rate. - This is great news but will not help existing consumers who have got their rates jacked up recently. In fact many more face a similar situation before the bill kicks into effect
• At the end of the promised time period for a promotional rate. - This in my opinion, does not affect current practice. Most 0% balance transfer credit cards deals are for six months and they clearly state that the interest rate becomes a variable rate once the introductory period is over.
• If the required minimum payment is not received within 60 days after the due date - This will buy consumers some time if they are having some difficulty.

Future rate hikes - Card issuer can raise the rate on future purchases with 45 days notice after the first year. No notice is required for increases due to one of the reasons stated above.

Rules About Paying off on old terms
Credit Card issuers cannot change the terms for repaying a balance, unless they give the you either:

• Five years to pay off the outstanding balance at the old rate; or
• An increased minimum payment that has no more than twice the old minimum payment - this means they can increased your minimum payments but not more than twice of what you are currently paying at the moment

There have been more rules (and for the better in our opinion) with rewards to limits on fees and penalties

• If the interest rate increases because the minimum payment is not received within 60 days after the due date, the rate must go back to the original, lower rate if the consumer makes on-time minimum payments for six months - I think this is only fair because it gives consumers a chance and a reward for good paying habits
• No over-the-limit fees may be charged unless the consumer has asked for the account to be set up to allow transactions that will exceed the credit limit. - This is a great provision because credit card issuers have deliberately allowed charges to be made if it crossed their credit limit and then an over-the-limit fee is charged!
• An over-the-limit fee may be imposed only once per billing cycle if the balance is above the limit on the last day of the cycle - the fact that this law had to be passed just goes to show how abusive things have gotten
• No fees can be charged for making payments except for expedited payments arranged through a customer rep - again, the fact that this should even be in the bill is just ridiculous
• Penalty fees (late fee, over-the-limit fee, etc.) must be reasonable and proportional to the omission or violation. The Federal Reserve Board must issue rules to set standards to decide what fee levels are reasonable - This one is interesting because it remains to be seen what is deemed as “reasonable”.
• Two-cycle billing is prohibited - this one is long overdue

Credit Card issuers must also consider one’s ability to pay - How this one can be implemented is beyond me? Credit card issuers only ask you to fill in your income or household income upon the initial application. But how will they find out if you have had a raise or lost a job?

• Amounts in excess of the minimum payment must be applied to the highest interest rate, except in the last two months before a deferred interest balance is due - this one is long overdue

Rules on due dates, time to pay - This one is interesting in that it just goes to show the abuses that credit card companies have heaped upon consumers.

• Credit card issuers cannot set early deadlines for payments. Payments must be received by 5 p.m. at a location set by the issuer.
• Due dates will be on the same day each month - this may be a problem as I’d rather have them on the same date. What happens to autopay, which is always set up based on a date every month?
• Card issuers must deliver the bill at least 21 days before the due date

College Students - Perhaps the biggest impact will be those who are college students. It appears that it will be more difficult to get student credit cards

• Before issuing a card to a person under 21, the issuer must obtain an application which contains either the signature of a co-signer over 21 or information indicating an independent means of repaying any credit extended - looks reasonable but what happens if your parents do not have good credit?
• Card issuers may not raise the credit limit on accounts held by a person under 21 who has a co-signer without written permission from the co-signer - once again, this seems very sensible
• No prescreened card offers can be made to people under 21 unless they have consented to receive such offers - I really like this idea because I think the less offers one gets, the more unlikely he or she will get a credit card just because of an offer
• Card issuers cannot provide tangible gifts to students on campus in exchange for filling out a credit card application - no more booths sponsored by credit card issuers?
• Colleges must publicly disclose any marketing contracts made with a card issuer - colleges will not like this one at all. But with endowments under pressure???

Rules on Issuance fees - I think this rule has tremendous implications for the sub prime sector, particularly to issuers that issue credit cards for people with bad credit. These issues tend to issue cards from up front fees of as much $200. But worse of all, they tend to start someone off with a $300 credit limit. So even though you have a $300 credit limit, you end up with (in this example) just a $100 limit because of fee. From now onwards, issuers cannot finance fees and charges for opening a credit card where the fees and charges total more than 25 percent of the credit limit.

This is a guest post written by Mr Credit Card from www.askmrcreditcard.com. His site reviews credit cards and if you are looking for the best credit card offers, then you may want to head over their.

CML releases repossession figures

The Council of Mortgage Lenders released figures last week that showed the level of repossessions in the UK had increased by 50% in the first three months of this year compared to the first quarter of the previous year. The number of repossession is said to have soared to 12,800 in the first three months of the year, and this was up from 10,400 in the previous quarter and from 8,500 in the first three months of 2008. Read more

Comparison sites could help find the best credit card deals

Industry experts have recently said that in the current financial climate, with many credit card companies cutting back on deals and enforcing more stringent regulations, many consumers could find that they are better off using a comparison site to find the most suitable credit card deals for their needs. Read more

Prices of UK Homes Still Falling

With the increases in mortgage lending that occurred in the UK during the month of March, many homeowners felt that the recession was nearing an end and that they would soon start to see an increase in house prices. Read more

Huge depreciation in new cars in three years

Industry officials have recently said that the depreciation seen in new cars in the space of just three years could mean that for many consumers the £2000 car scrappage scheme introduced by the government may actually leave them worse off. Read more

Buy High End Clothes at Rock Bottom Prices

Have you noticed an increase in the adverts in newspapers for designer products at bargain prices? If so, you are not alone. The analysts at Gumtree.com have also noticed this increase in recent months. Read more

Some savings accounts increase interest rates

Some savers in the UK are set to benefit from increased interest rates on their savings, with a number of financial institutions increasing the rates that they will pay savers even though the base interest rate has remained static at 0.5 percent, which is its lowest level in the three hundred and fifteen year history of the Bank of England. Read more

Rising number of Brits could head to New Zealand

Whilst many Brits may have jetted off to New Zealand for a long vacation to enjoy the beauty, natural surroundings, and sights, it has been revealed that many have made their minds up to go there and not bother coming back. Read more

Interest rates remain on hold after May meeting

After the May Monetary Policy Committee meeting the Bank of England announced that the base interest rate was to be kept on hold at its all time low of 0.5 percent. Read more

Mortgage Approval Rates are on the Rise – Is the Recession Coming to a Close?

According to the figures from the mortgage industry for the month of March, it seems that lenders are once again starting to approve mortgages for homeowners. An increase of 16% in the number of mortgages approved in March seems to send a signal that the recession in the UK housing market may have bottomed out and is finally starting to rise once again. Read more

Cash may run dry for those interested in scrapping their old cars

Following the budget last month, the Chancellor of the Exchequer, Alistair Darling, announced the launch of a car scrappage scheme. The scheme was designed to encourage motorists to get rid of older, environmentally unfriendly vehicles and buy new vehicles that were greener and more reliable. Read more

More help for elderly required in recession

It has been reported that more help is needed for elderly people in the UK during the recession, with charities for the elderly claiming that there are a number of measures that could help to make the lives of suffering pensioners easier. Read more

Worst of recession could be over according to economist

One economist, who has recently become a member of the powerful Monetary Policy Committee, stated that the worst of the recession for Britain could be over. Read more

Save By Using Cash When on Holiday

Most people use credit cards when they are traveling on vacation because they feel that it is a safer way of handling their money than using cash for their needs. They feel that there is a greater chance of having the cash lost or stolen and then they are left stranded. By using a credit card, they can report it lost or stolen and not have to worry about losing any money as a result. Read more

Talent will be forced abroad due to 50p tax

Following the recent budget, where the Chancellor, Alistair Darling, announced that those on a certain level of income would be charged a new, higher tax rate, some industry officials have expressed concern that the new level of tax could end up forcing much of Britain’s talent abroad. Read more

Recession causes insurance fraud to soar

According to a recent report the level of insurance fraud has been rocketing as a result of the bleak financial climate and the recession. A report was recently released by the Association of British Insurers, and officials from the ABI have said that in 2008 the number of attempts to defraud insurance companies increased by 17 percent compared to 2007. Read more

Negative equity could hit many more

As a result of the house price crash that has seen a large percentage wiped off the value of UK properties over the past eighteen months it has been estimated that around one million homeowners have already been plunged into negative equity, which is where they owe more on their property than the actual value of the home. Read more

UK 2009 Budget Urging the Country to Go Green

If you have an aging vehicle, you can profit from the recent announcement in the 2009 Budget. The government is promising a bounty of £2000 to any UK resident who chooses to scrap an older vehicle and purchase a newer model. This scheme, which is modelled after a similar one in Germany, will target cars that are nine years old or more. Read more

More breathing space over stamp duty

Following his recent budget, Alistair Darling, the Chancellor of the Exchequer, revealed that the break on stamp duty on properties up to a certain value was to be extended until the end of this year. Read more

More Help Needed for Elderly UK Residents

Rising fuel prices is causing financial difficulty for many of the elderly residents of the UK. According to Age Concern and Help the Aged, it is time for the government to sit up and take notice of the problems that this sector of the population is encountering in trying to cope with the current recession. Read more

Hikes in ISA limits result from budget

It was announced at the recent budget by Alistair Darling, the Chancellor, that ISA limits in the UK were being hikes, although savers will not see the benefits straight away. Read more

Can you afford to head off abroad?

Traditionally, this is the time of year when many Brits start to think about their summer holidays, with many deciding where and when they want to go and then looking for the best deals so that they can get their holiday booked up. Read more

Mortgage war could be sparked by HSBC

Earlier this month the High Street bank, HSBC, which also owns the Internet bank First Direct, announced that it was cutting mortgage loan rates even for those with smaller deposits. Read more

Whistleblower slates FSA over building societies

A whistleblower who has chosen to remain anonymous due to fears over legal action has slated the UK’s financial regulator, the Financial Service Authority, over its lack of action with regards to building societies venturing into risky areas during the credit boom. The FSA has been accused of ‘apathy and complacency’ by the whistleblower, who was a former supervisor with the authority. Read more

Pensioners losing most of their income from savings

For many pensioners having their life savings in a higher interest savings account has become an effective way to boost their pensions with additional income over recent years, with many enjoying a substantial boost to their pensions because of the monthly income they earned from the interest on their savings. Read more

Is it time to lay off the banks?

Nobody can deny that over the past year and a half the UK’s banking industry has taken a real battering from all sides, with consumers, government officials, regulators, and campaign groups having really laid into the banks, accusing them of everything from irresponsible lending practices to failure to control bonus levels paid to executives. Read more

Many Brits too scared to spend

It has been revealed in a recent report that many people in Britain are too scared to spend money, with a third of Brits having scared themselves into spending less. Read more

Lib Dems want changes to benefits stopped

The Liberal Democrat Party has recently made its views known on changes that the Labour government plans to make to the way that benefits are made to certain claimants. Read more

Credit crunch leaves High Streets more deserted

It has been claimed that the ongoing global financial crisis and the recession have resulted in the High Streets of Britain being left more and more deserted, as a rising number of shoppers decide to cut back on their spending. A recent report showed that an increasing number of people deserted in the High Street in March, as the effects of the difficult financial climate continued to take their toll. Read more

At least a million have their bank charge claims frozen

According to recently released figures at least one million consumers have their bank charge claims frozen, as the appeals relating to the original High Court decision continue. Read more

Insurance policies being compromised due to credit crunch

There are many different ways in which UK households are trying to cut back on their monthly outgoings in the current financial climate, as most people are struggling to make ends meet properly due to their finances. Read more

Darling admits that he was too optimistic about the recession

Earlier this month the Chancellor of the Exchequer, Alistair Darling, boldly admitted that his initial predictions about the ongoing recession that has gripped the UK were too optimistic. Darling said that he had underestimated the recession, which he had originally predicted would be over by the middle of this year. In an interview with a leading national newspaper, the chancellor simply said ‘It’s worse than we thought’. Read more

Online shopping wars could start between supermarkets

It is thought that one supermarket may have sparked an online shopping war between the UK’s supermarket giants after announcing that it is eliminating delivery charges associated with having groceries that are ordered online delivered. Read more

Banks filing further appeal over bank charges

The battle between the UK’s High Street banks and the Office of Fair Trading over bank charges has been raging for some time, and has been longer than most people imagined. Read more

Air travel plummets in popularity due to credit crunch

According to a recent report the popularity of air travel amongst UK consumers has taken a real hit as a result of the global credit crunch, with fewer and fewer people able to manage holidays abroad. Read more

HSBC’s £1bn boost to first time buyer market

HSBC has allocated £1 billion to a new 90% loan to value product which it is hoped will give a much needed boost to the first time buyer market. Read more

Would you join your local supermarket bank?

We are all used to popping to the supermarket every week or so to go and get our groceries and household goods, but when it comes to doing our banking most of us are more used to heading to the High Street, picking up the phone, or getting online to make transactions. Read more

The pros and cons of the base rate cuts

Between 2006 and early 2007 many people were horrified as a result of the base interest rate increases which saw the base rate rise from 4.5 percent to 5.75 percent. Borrowers and homeowners found that their financial commitments went up considerably, although the rate increases came as far better news for other groups such as savers, who hoped to get better returns on their money as a result of the rate increases. Read more

Online Banking Fraud is on the Rise in the UK

The instances of fraudsters using software that enables them to access bank accounts has rose dramatically in 2008 when compared with such occurrences in previous years. According to bank authorities, online banking fraud doubled in this year alone. The device used by fraudsters to accomplish this task is called keylogging. Read more

Negotiating a Settlement When Your Job Has Become Redundant

Job losses have occurred in all sectors of the economy in recent months due to the global recession which is taking its toll on companies of all sizes. Read more

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