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RBS Suffers Further Losses

Royal Bank of Scotland have suffered an annual loss of £7bn as a result of past problems, which are still weighing on its performance. This is the ninth year that RBS have been unsuccessful in making a profit, and this amount has come in at more than treble the banks 2015 loss of £2bn. The… View Article

Barclays Profits Up

Barclays Bank have announced a profit before tax of £3.2bn for 2016, which is an increase from £1.1bn the previous year. The increase is thought to be due to the bank making ‘strong progress’ in restructuring. Changes made by bank within its reorganisation have so far included selling parts of its business that is has… View Article

Martin Lewis Warns of Approaching PPI Deadline

Money expert, Martin Lewis, recently announced in ITV’s The Martin Lewis Money Show that the PPI deadline is fast approaching and that people should be making claims ASAP if they haven’t already done so. Mr Lewis encouraged people who had not yet claimed compensation for Payment Protection Insurance to make this a priority, as there… View Article

Personal Borrowing Figures ‘Stall’ During December 2016

Latest figures from the Bank of England have shown that during December, the ‘growth of personal borrowing’ stalled slightly. The month also witnessed the lowest increase in outstanding personal debt since May 2015, which rose by £1bn to £193bn. Recently, Mark Carney, Governor of the Bank of England, warned of how personal borrowing was increasing… View Article

Consumers Struggle to Keep up Debt Repayments

It has been reported that the number of borrowers struggling to repay their loans and overdrafts increased at the end of 2016. The level of unsecured debt has recently been increasing ‘at its fastest pace’ for 11 years, and default rates on unsecured debt rose during the final three months of the year according to… View Article

New Homes for First-Time Buyers

The government has claimed that ‘thousands’ of new homes are to be built during 2017 for first-time buyers. Funding will be given from the £1.2bn pot to thirty areas across England so that new housing developments can be built on what are currently ‘brownfield sites’. The funds will come from the governments ‘Starter Homes Land… View Article

Slower House Price Growth Expected for 2017

Nationwide have claimed that although the growth in house pricing was ‘relatively stable’ throughout 2016, there is a likeliness that it will be slower during 2017. Over the last 12 months, average prices have increased by 4.5%, as per figures from the latest House Price Index, which is the same as the rate in 2015. However,… View Article

Delayed Deadline Decision Could Mean Banks Pay More for PPI

A delay in the Payment Protection Insurance (PPI) cut-off date from the Financial Conduct Authority (FCA) could mean banks are going to be paying out more for the £40bn mis-selling scandal. Originally, the regulator stated that it was looking at a cut-off date for making PPI claims of mid-2019, with a final decision being announced… View Article