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Credit card companies agree to rate cuts
Dec 15 2008British credit card lenders have hinted that they are looking into lowering interest rate raises for some customers.
Coming just days after the Bank of England slashed the base rate of interest to just two per cent, the credit card industry has moved to counter accusations that it has not passed on such cuts to consumers.
Under the new initiative, lenders have agreed to give borrowers at least 30 days' notice before putting their rates up, thereby giving them sufficient opportunity to shop around for better borrowing deals or to simply pay off their debts.
In news likely to be of interest to car loan customers, the government has assured borrowers that this length of time will be doubled if they have taken action to seek financial advice.
Commenting on the development, Malcolm Hurlston, the chairman of Britain's Consumer Credit Counseling Service, told the Press Association: "There is much good news here."
Indeed, this represents a significant step and will help ensure bad personal situations are not made worse", he added. 
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Cheap Car Loans and Fleet Sales are Helping the UK’s new Market
Created Dec 30 2011
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Ford Plans to Double its Production in China
Created Jun 22 2011
Ford’s joint venture in China – Changan Ford Mazda Automobile – plans to soon double its annual production of car engines to 750,000 units.
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Insurance Website Names Most Dangerous Cars
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FSA to Improve Complaints Handling Standards
Created Jun 14 2011
The FSA has announced a range of measures aimed at improving complaints handling standards.
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Financial Services Authority Cancels Retails Authorisation
Created Apr 21 2011
As most car finance buyers are probably aware, part of the responsibility of the FSA (Financial Services Authority) is to protect motorists against dangerous financial practices.
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Finance Becoming More Important in Car Purchasing
Created Apr 20 2011
In a recent interview with AM-Online, General Manager at BMW/Mini Financial Services, Joe Pattinson, expressed a number of opinions that are of interest to ordinary car finance buyers.
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Debt Recovery for Lenders Conference in London
Created Apr 6 2011
Those involved in the UK car finance industry will be interested to know that the FLA will be presenting a Debt Recovery for Lenders conference in London on the 18th May 2011.
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Duty Cut not Passed on to Drivers
Created Mar 30 2011
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Motor Industry Reacts to the Budget
Created Mar 29 2011
Reaction from the car finance and fleet industries to Chancellor Osborn´s latest "motorist´s budget" has on the whole been fairly positive.
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Japanese Disaster Hits Toyota Badly
Created Mar 28 2011
The ripple effect of the recent earthquake and subsequent tsunami in Japan is slowly being felt by manufacturers and auto loan buyers all over world.
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