A LEADING debt campaigner has described Capital One Bank as “reckless” after it sent its customers unsolicited credit card cheques.
Category: Banks
Scotsman: Watchdog Set To Probe ‘unfair’ Bank Charges
FINANCIAL Ombudsman Walter Merricks is threatening to investigate the banks after a 15-fold increase in complaints about charges.
Scotsman: Wannabe WAGs Borrow For A Lifestyle They Can’t Afford
MORE young women than ever before are winding up bankrupt as a result of credit card debts and rising household bills.
Scotsman: Phishing Nets Illegal Fortune
A 55% leap in people losing money to ‘phishing’ e-mails is a timely reminder to those banking on the web to use common sense when dealing with e-mail correspondence purporting to be from their bank.
MoneyExpert: Balls: Credit Unions Can Now Offer Larger Loans
Ed Balls, the economic secretary to the Treasury, has highlighted how credit unions are now able to offer larger loans over longer periods.
Scotsman: Egg Warning On Mortgages After Rate Rise
INTERNET bank Egg has warned that this week’s 0.25 per cent increase in the Bank of England’s base rate, coupled with the same increase in August this year, will mean that the eight million or more people with standard variable rate mortgages could…
This Is Money: RBS Seizes Its Chance In China
City focus: Royal Bank of Scotland’s investment in China is showing plenty of eastern promise. Lucy Farndon reports from Bejing
Motley Fool: A New Savings War!
If you’re a homeowner with a variable rate mortgage, you will no doubt be lamenting yesterday’s decision by the Bank of England to raise interest rates. The 0.25% rise means that UK interest rates are now set at 5%, the highest they have been for five years, and will certainly result in an increase in repayments for some borrowers and mortgage holders.
Scotsman: Home Owners Face Heavier Bills In New Year As Bank Raises Rates
INTEREST rates are likely to rise again early in the new year, home owners were warned yesterday, after the Bank of England increased borrowing costs to the highest level for five years.
Motley Fool: Could You Survive Payment Shock?
As was widely expected, the Bank of England has just lifted its base rate from 4.75% a year to 5%. This decision takes the base rate to a five-year high, with mortgage rates soon to rise in its wake. What’s more, the money markets are pricing in another 0.25% hike in February, so there’ll be more pain to come for borrowers!