Every month, figures from the Bank of England show that the UK’s mortgage debt continues to soar. Here’s how it’s exploded over the past decade:
Category: Banks
This Is Money: First Direct To End Free Banking
First Direct is to start charging less well-off customers a £10 monthly fee in what could be the first step towards the end of free bankingFirst-class squirming from the First Direct boss
MoneyExpert: Credit Card Debt ‘a Turn-off’
New reports indicate that credit card debt, overdrafts, and accounts in the red are a turn-off for prospective partners, with a large percentage of people more likely to get into a relationship with sensible savers.
According to a survey conducted by Yorkshire Building Society (YBS) a strong savings ethic is an attractive quality in long-term partners. Out of over 1,600 surveyed, 60 per cent of all women would rather be with a man with no debt.
Over 40 per cent agree it would be better to date a man with savings in the bank, while over 95 per cent would not want to be in a relationship with someone who was not financially sensible.
“It seems money really can buy you love as today’s singles search for a saving-smart superhero to settle down with,” comments YBS media relations manager Tanya Jackson, continuing to state that most women are drawn towards sensitive spenders rather than high rollers.
Credit card holders may soon have to shop around for the best rate after PricewaterhouseCoopers announced annual fees could be introduced to make up for industry deficits of £1 billion.
This Is Money: Furse To Battle Bank Raid
For years the investment banks have been complaining about the cost of cash trading in London – Now it looks as if they are prepared to put some money behind the counter
This Is Money: Nationwide In Charges Warning
Britain’s biggest building society today refused to rule out charging its near-4m customers for running their current bank accounts
Scotsman: Does First Direct Move Herald End Of Free Banking?
THE HSBC-owned bank will charge £10 a month for those who fail to pay in £1,500 and decline other services.
This Is Money: Bank Hints Rate Rises Are Over
Homeowners could be spared a further interest rate rise after the Bank of England today suggested the spectre of soaraway inflation is fading
This Is Money: City’s Xmas Bonus Bonanza Snowballs
Senior City bankers will see their year-end bonuses surge by as much as 30% this winter
Motley Fool: Is Free Banking Doomed?
Only yesterday, in Your Credit Cards Need £1 Billion, I warned that credit-card issuers are looking for ways to make more money from the UK’s 32 million credit card holders. Today, current accounts are under the cosh, as telephone and internet bank First Direct announces that it is to introduce monthly fees from 1 February 2007 for some of its current-account customers.
MoneyExpert: Savings Scheme Extensions Welcomed
The Association of British Credit Unions Limited (ABCUL) has welcomed a report from the Institute of Public Policy Research (ippr) that recommends the extension of national savings schemes.