Barclays was last night accused of charging struggling firms up to 12 per cent interest on Government-backed crisis loans. Major banks have also come under fire for telling company directors their personal assets will be seized if their businesses fail. The Coronavirus Business Interruption Loan Scheme was launched by 40 lenders on Monday as part … Read more
Chaos for the housing market as banks stop mortgage lending and Michael Gove tells home-buyers ‘don’t exchange contracts’ Michael Gove urged people to stay put and not move house during pandemic Lenders have also stopped mortgage lending, throwing housing market in chaos Moving companies are cancelling jobs during crisis, making moves impossible Coronavirus symptoms: what … Read more
VICTORIA BISCHOFF: We saved them back in 2008… now it’s the banks turn to bail US out By Victoria Bischoff for the Daily Mail Published: 22:00 GMT, 24 March 2020 | Updated: 23:41 GMT, 24 March 2020 In 2008 the world economy appeared to be on the brink of meltdown. The banks’ pursuit of profits … Read more
People have been forced to queue outside banks today as they obey social distancing rules put in place to stop the spread of coronavirus. Photos taken up and down the country show people waiting in lines outside branches of Natwest, Lloyds, Halifax and Barclays today. While many are happy to adhere to guidelines urging people … Read more
We’ll lend firms £250k in 48 hours to survive the economic crisis, say banks By Helen Cahill For The Mail On Sunday Published: 23:06 GMT, 21 March 2020 | Updated: 23:06 GMT, 21 March 2020 The new emergency loans will be interest-free for the first year Banks will tomorrow promise to hand small businesses interest-free … Read more
More than half of scam victims still being refused refunds despite banks pledging to treat customers more fairly By Amelia Murray Money Mail Chief Reporter For The Daily Mail Published: 23:02 GMT, 18 March 2020 | Updated: 23:02 GMT, 18 March 2020 More than half of scam victims are still being refused refunds despite banks … Read more
Scant consolation for savers as banks cut accounts within hours of the Bank of England slashing the base rate By Sylvia Morris For The Daily Mail Published: 23:37 GMT, 17 March 2020 | Updated: 23:51 GMT, 17 March 2020 Banks and building societies have been quick off the mark to slash savings rates. Within hours … Read more
German leaders have ordered the closure of all non-essential shops and told people to ‘stay at home’ as part of sweeping nationwide measures to scale back public life in order to slow the spread of the coronavirus. Chancellor Angela Merkel called on Germans to cancel any holidays at home and abroad, while president Frank-Walter Steinmeier … Read more
Ministers fired a warning shot at banks this week as the top six lenders stand accused of failing to help mortgage prisoners switch to a better deal. In an open letter Treasury ministers urged banks to move quickly to help mortgage prisoners following some four months of inaction from lenders. The UK’s financial watchdog introduced … Read more
FTSE opens down again as it falls 8 per cent to dip below 5,000 to lowest level in nine years – despite global central banks stepping in to battle virus crisis By Mark Duell for MailOnline Published: 08:04 GMT, 16 March 2020 | Updated: 08:41 GMT, 16 March 2020 The FTSE 100 plunged yet again … Read more