It seems almost inevitable that Thursday’s meeting of the Bank of England committee will sanction a further quarter percent rise in the UK base rate. Recent comments by some members of the committee have led many to believe that a move upwards is almost certain, a view further strengthened by recent news confirming that property prices have risen again, and inflation is still fairly strong.
The last few years have seen a major loosening of the criteria for overdrafts, with many banks offering them as a matter of course. This has resulted in the majority of UK bank account holders taking up the offer of an overdraft, often over the choice of a short term loan - but which one is really best for you?
As we move into June and approach what many expect to be another rise in interest rates, the news from the high street seems to be indicating that recent rate hikes may finally be having some effect.
Even though the figures were effected by wet weather throughout the month of May, the fall of 1.8% compared with May 2006 is a welcome relief to the Bank of England. So have interest rates now peaked in the short term?
The bank charges reclaim saga seems to go from one extreme to the other with recent court rulings going in favour of the banks, and then another court judge penalising the bank for not turning up at court. What really is going on and who has the upper hand at the moment?
For many years we have seen consumers place great trust in the so called “Best Buy†tables in many of the financial magazines. While they do offer a summary of the best offers available at the time, many in the industry have great reservations. Do all companies have the same access to these lists? Maybe not….
Insiders in the industry claim that :-
As we recently reported, barrister Tom Brennan is taking NatWest to court for repayment of “illegal†charges which he claims the bank have taken form him, and substantial damages. Even though the case was pencilled in for the City of London County Court on Friday 13 April, it was adjourned at the last minute with the judge citing the need for more time to hear the case. Stalling tactics by NatWest?
