Essentially Home Loans Weblog

According to a survey by Nationwide Building Society only 29% of credit card customers are aware of the fact that many credit card providers always pay off debts charged at the lowest interest rate before paying off the debts with the higher rate of interest, making themselves an additional £500 million each year from this [...]

The announcement by the Bank of England that it will inject £10bn into the money markets should lead to homeowners seeing their home loan rates fall as lending between banks becomes cheaper.
This move by the Bank of England is aimed at reducing inter bank lending rates and should have effects on mortgage costs soon enough.
This [...]

You can’t have failed to have noticed the news in the media over the past months on the financial crisis that is being experienced by Northern Rock at the moment. Britain’s eighth largest lender has been in serious financial difficulties and savers have been panicking. Many customers have their life savings in Northern Rock savings [...]

About 4% of all mortgage holders in the UK are Alliance and Leicester customers. Therefore, there might be a few of them who are understandably a little nervous at the news that Alliance and Leicester lost 33% of its value recently. Traders were literally dumping Alliance and Leicester stock as they feared that it might [...]

Newcastle-based lender, Northern Rock, became the first casualty of the current credit crisis that is sweeping the financial markets. It now seems that the Bank of England want it to become a public company for a short spell, at least.
Officials for the bank urged customers not to panic but there were still queues across the [...]

Barclaycard has entered the pre-pay travel card market by launching its own travel card, Travel Money.  Barclaycard has decided to launch its Travel Money card as the pre-pay travel card market becomes more popular and more competitive, with more and more holidaymakers preferring the travel card to their typical debit card or borrowing money on [...]

If you felt like most of your repayments for that bank loan you have were going on the interest, don’t expect a reprieve soon. Banks took advantage of the base rate rises earlier in the year to raise their credit card and overdraft interest rates well above the last base rate rise back in July [...]

The Financial Services Authority (FSA) is working to make it easier for homeowners to opt out of expensive, high interest mortgages, and select more affordable options. Their new endeavour to bring down excessive exit fees has resulted in some banks discontinuing their exit fees altogether. This probably does not mean that the banks will let [...]

According to a new survey published by the Daily Mail, HSBC has some of the best offers on the market when it comes to certain financial products. However, when you look at some of the other products used in the comparison, they are the worst on the market. It is pretty much the same story [...]

With the current interest rates rising and with the predictions of the base rate rising even further next month, many homeowners are struggling to make ends meet and are finding new ways to come up with the funds and meet their monthly home loan repayments.  One way to save and make your money work for [...]