Mortgages and other loans are set to become harder to find over the coming months as the coronavirus pandemic causes banks to pull back from lending. Experts fear the UK could be heading for another credit crunch as lenders are becoming more reluctant to get money out of the door, despite demand from households and … Read more
Red Wall voters bash Boris as last English coal mining firm is forced to announce lay-offs due to planning delays By Daily Mail City & Finance Reporter Published: 21:51 BST, 15 July 2020 | Updated: 21:51 BST, 15 July 2020 Boris Johnson has been accused of ‘letting down’ northern voters who helped him win a … Read more
Banks will be forced to provide cash machines within a ‘reasonable distance’ of every UK home under laws being prepared by ministers Network operator Link said that 12 per cent of Britain’s 60,000 ATMs were temporarily shut during the coronavirus lockdown Consumers have ditched cash at an unprecedented rate during the pandemic over fears it … Read more
Bankers are rarely popular, attracting scorn and envy in equal measure. But lately, bank shares have acquired a new fan base. The private investor clients of platforms such as Hargreaves Lansdown have been snapping up these stocks, persuaded that they are set to recover from their current lows. In particular, they hope that Lloyds shares … Read more
Andrew Bailey delays rare meeting with Tory MPs amid questions over the Bank’s independence By Daily Mail City & Finance Reporter Published: 23:06 BST, 7 July 2020 | Updated: 23:06 BST, 7 July 2020 Bank of England Governor Andrew Bailey has postponed a rare meeting with backbench Tory MPs amid questions over the Bank’s independence. … Read more
Borrowers were granted a reprieve from overdraft rates of nearly 40 per cent at the start of April as banks were ordered by the regulator to keep costs low as the coronavirus struck. But last week the Financial Conduct Authority reopened the door to sky high overdraft charges when it said it was not extending … Read more
Banks braced for £10bn hit as customers are weaned off loan payment holidays just as job losses shoot up Lenders have granted payment holidays on loans worth more than £250bn Many of the three-month holidays will come to an end this month Fears are rising of a wave of defaults as customers lose their incomes … Read more
The city regulator today effectively gave the green light to banks to reintroduce overdraft rates of nearly 40 per cent within weeks, despite the coronavirus pandemic potentially leaving millions struggling financially. The Financial Conduct Authority announced it would not launch an investigation into overdraft changes announced by banks, nor would it require lenders to continue … Read more
Banks and building societies risk triggering a mortgage credit crunch, with 90 per cent of the 10 per cent deposit home loans on offer before lockdown axed. Figures calculated for This is Money show that banks and building societies have already pulled more low deposit mortgage deals in the past four months than in the … Read more
Economic lockdown has dealt a big blow to those fighting against the drive towards a cashless society. Payment by plastic and mobile phone has become more popular than ever. But some hardy campaigners are determined to keep cash on the high street. No one is battling more than Natalie Ceeney, author last year of an … Read more