Thrifty Loans

No ruling delivered on bank charge case

Although the High Court test case into bank charges has concluded after two weeks, the presiding judge, Justice Andrew Smith, has not yet delivered his ruling, stating that he has a lot of work to do before he can do this. The case was brought by the Office of Fair Trading against seven banks and [...]

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Bank Cuts Base Rate By 0.25%

As widely forecast, the Bank of England cut the base rate on Thursday by a quarter point to 5.25%, their lowest level since April 2007. The message from the Bank of England seems to be that they are now more concerned about the direction of the economy than they are that inflation might creep up [...]

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Sub-prime Fallout To Get Worse

The problems caused by the US sub-prime crisis have been wide and intense. The US housing market continues to fall, the credit crunch followed and is still causing grief worldwide, and economies around the world are taking flight. It might not get better just yet. In fact, a leading management consultancy has forecast that the [...]

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Nationwide Tracker Rates Go Up

Homeowners are being buffeted from pillar to post. One minute there is news of a reduction in some fixed deal interest rates; the next there is news of higher tracker rates. The latter became a reality as Britain’s biggest building society increased its mortgage rate, in response to the problems on the world’s stock markets [...]

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