Several lenders have put up the headline interest rate by a full percentage point in the past month to more than 9%.
This is despite the fact the Bank of England base rate has been held down at 0.5%.
The average personal loan rate has risen to 9.07%, up from 8.74% a year ago, according to [...]
By my calculations, 5% of £206.34 is £10.30, not £155.98, which means I have been overcharged £145.68. I have written to EDF three times asking for a correct bill, but received no reply.
A phone call resulted in the curt reply that its calculations were correct.
To add insult to injury, EDF says that in light of [...]
In many cases, this means that customers whose bank details or cards have been stolen are left without any way of getting their money back.
Money Mail has received a raft of complaints from readers who have lost huge sums after having debit cards pinched or cloned, or identities stolen by criminals.
Although some have been [...]
The losses will hit the bank's commercial and group operations nationwide and follow on from the 500 jobs cut earlier this month, as well as the closure of the group's Cheltenham & Gloucester mortgage business, which will result in the loss of 1,660 jobs.
When Lloyds merged with HBOS in September [...]
Revised GDP figures from the Office for National Statistics revealed the sharpest contraction since 1958, which easily outstrips the initial ONS estimate of 1.9%.
Many analysts had anticipated that figure would be revised upwards but only to 2.1%.
The figures deliver a blow to the Chancellor and the Treasury, who in April's Budget estimated a 1.6% [...]
The Nationwide said that the average price of a house – at £156,442 – was 9.3% lower in June this year than last.
The cost of an average home has risen by £8,700, or 5.9%, since hitting a low of £147,746 in February. However, this remains 16% below the peak of [...]
According to Lloyds Banking Group, a fifth of parents give their children money to help them on to the housing ladder - often when they go away to university. Many have been encouraged to invest in property as a result of paltry interest rates on cash deposits.
But research by online property search engine propertylive.co.uk [...]
Mortgage brokers have warned that time is running out for those wanting to find a good value fixed rate.
The average two-year fixed rate has jumped from 4.74% to 4.9% since the beginning of last week, according to research by independent data compiler Moneyfacts. The average five-year deal has risen from 5.61% to 5.82%.
Nationwide Building [...]
The changes - outlined by the Financial Services Authority (FSA) in its Retail Distribution Review published today - would have a huge impact on both financial advisers and product providers.
The proposals would mean an end to commission earned by advisers on products such as pensions, investment funds and life assurance.
Jon Pain, [...]
Hometrack said house prices remained unchanged last month, Nationwide reported a 1.2% rise and Halifax said the rise was 2.6%. Why is there such a divergence in data?...
1) No-one uses the same data
The problem with the majority of house price indices is that they do not provide data on the actual price paid for houses [...]
© 2008 Daily Financial News