Unsecured Loan

The best business loans and how to get them

Project Merlin was supposed to force banks to lend to businesses but despite targets apparently being met many employers say they cannot get a loan at any cost.

UK households are repaying debt, according to the BBA

UK households pay back £100m of debt in August

UK households have followed the government's lead by paying back debt. New lending figures reveal that repaying unsecured debt outstripped new borrowing by £100m.

Credit card spending increased in April, according to the Bank of England

Bank of England's lending report for April shows spike in credit card borrowing

The Bank of England has released its report on lending to individuals for April and it reveals that unsecured borrowing has increased sharply but lending for property fell.

Consumer credit rose slightly in January but demand for credit cards and loans is expected to remain subdued.

Consumer credit flows 'rise by £0.5bn'

The total net flow of consumer credit through unsecured personal loans, credit cards and overdrafts moved higher in January, although the market is expected to remain "subdued" in the months ahead.

Britons reached Debt Freedom Day on February 20th.

Britons spent first 50 days of 2010 paying off debt interest

It took the first 50 days of 2010 for Britons to earn enough to pay off the interest on their consumer borrowing, making February 20th Debt Freedom Day.

Consumer credit applications 'remain subdued'

Applications for personal loans and credit cards remained subdued in December as consumers showed little improvement in their appetite for borrowing, the Bank of England has revealed.

Which? wants high street stores to work more closely with credit reference agencies

Alarm raised over store card policy

Fresh concerns have been raised over store cards after a debt-ridden graduate was able to obtain £2,750 worth of credit in high street shops.

Lenders are increasingly threatening to place charge over brorrower's home

Lenders threaten to take homes over credit card debt

Lenders are increasingly threatening to repossess the homes of credit card and personal loan borrowers, a charity has warned.

Brits are avoiding getting into more debt

Recession-hit Brits avoid debt

Almost three quarters of Brits are avoiding further debt since the recession hit, according to a survey.

Politician argues for a cap on interest rates

Politicians call for cap on interest rates

Politicians have called on the UK government to introduce a cap on interest rates charged by lenders amid fears the recession could drive some further into debt.

Bad debts are expected to rise next year

Bad debt forces cutbacks for lenders

An expected rise in customers defaulting on their loans will lead to cutbacks at banks and building societies this year.

The interest rate may drop to just one per cent today

Interest rates forecast to fall to 1%

Analysts are expecting a one per cent cut in the interest rate today, a poll for <i>myfinances.co.uk</i> has shown.

Public debt is spiralling, economist claims

Public debt forecast to rise to 50% of GDP

Public debt is set to rise to levels not seen since the 1970s, according to a thinktank.

Government borrowing could hit £111 billion according to research

Government borrowing 'set to soar to £111bn

Total government borrowing may reach £111 billion in 2009, posing "serious risks" to the UK, according to a report from the British Chambers of Commerce (BCC).

Demand for credit cards falls, says Moneysupermarket.com

Demand for loans and credit cards falls

Moneysupermarket.com has reported the number of consumers seeking loans and credit cards on its site fell but visitors looking for savings products rose.

Consumers are cutting back on their borrowing

Consumers cut back on borrowing

Consumers cut back on their borrowing in September, figures from the Bank of England show.

Be careful where you get your credit this Christmas

Consumers warned on Christmas credit traps

Consumers are warned to avoid 'subprime' credit this Christmas, despite a connection with trusted high street brands.

Brits set to retire with £66bn of debt

Over one in three over 55s are heading into retirement with a combined debt of £66 billion, according to a study.

Customers were missold PPI pn loans, FSA said

FSA fines Liverpool Victoria for missold PPI

The Financial Services Authority has fined Liverpool Victoria Banking Services (LVBS) £840,000 plus compensation for its sales practices relating to payment protection insurance (PPI).

Libor reforms announced

The British Banking Association (BBA) has said the way the rate at which banks lend to each other is caluclated will be reformed.

40% of parents bail out adult children's debt

Two-fifths of parents are helping adult children out of debt.

Britons lending their friends £510m a year

Britons are handing £510 million a year in loans to their friends and family.

Online applications mean more Brits are being rejected for unsecured loans

Online loans mean more people rejected

More than a million Britons have been rejected when applying for an unsecured loan in the last six months, and this figure is being driven up by online loan providers.