With first time buyers needing ever increasing sums of money to take the first step onto the property ladder, the Council of Mortgage Lenders (CML) has reported that 40 per cent of young home buyers turn to the 'Bank of Mum & Dad' for monetary aid, in addition to more commercial financial resources. The CML found in a new survey that 23 per cent of homeowners had received financial hel...

New research from Virgin Money has revealed that British consumers are collectively keeping more than £3.5 billion in cash stashed around their homes instead of in a bank account. That amounts to the price of five new Wembley stadiums or the entire GDP (gross domestic product) of the Bahamas! Based on forecasts for future inflation and interest, the financial services provider estimate...

Last year, the subject of ethical banking came up over dinner with friends, and apart from one of us (a banker) we all had to admit that we had either never heard of it or were ill -informed about it to say the least. Now, it seems we have all developed a social conscience, because in the last few months, everywhere I look, I seem to read about it. What is it? It may not...

Figures published by the British Bankers' Association (BBA) for April indicate that consumer borrowing demand is beginning to decelerate in the face of higher interest rates. Total lending to UK consumers rose by an underlying £9.1 billion (0.7 per cent) to £1,307 billion in April. This was the second month in a row that the rise was below the previous six month average increase of £11...

Lloyds TSB has this month won two County Court cases against customers trying to recoup excessive bank charges. The first unsuccessful claimant was a builder in Lancaster who on May 11th was deemed not to have submitted an adequate claim. The second case, four days later, in Birmingham, turned on a lack of evidence. According to consumer groups, both cases demonstrate the need for claimants to...