Thrifty Loans

Bank of England Forced To Dig Deep

The credit crunch shows no signs of releasing its ever-tightening grip on world financial markets, and the Bank of England is being forced into further measures to try to tackle the crisis. Only last week the Bank of England, the US Federal Reserve, the European Central Bank, plus the Bank of Canada and the Swiss [...]

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B&B Could Be In For A Chunk Of Northern Rock

Another potential bidder for Northern Rock has emerged, and it’s Bradford & Bingley. This has to be regarded as a surprise because B&B is a similar beast to Northern Rock, in that they are both building societies that have become mortgage banks. Therefore it was suspected that B&B might eventually have similar problems to those [...]

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UK Borrowing Higher Than Ever

Brits are clearly relying on borrowed money more than ever before The average Briton now owes £33,000 compares with £17,000 in 2000. That’s nearly a doubling of debt in seven years. The main reason for the increase in debt is because of rising house prices and increased mortgages. Gloomily, experts are predicting that tough times [...]

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New Fears In Financial Markets

Fears sprang anew in the financial markets this week as top banks were said to be hoarding money to cover the risk of further possible losses due to the sub-prime crisis. The three-month bank loan rate was up in London on Monday, to 6.45%, much higher than the Bank of England base rate of 5.75%. [...]

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