FinanceTeam

Interest Rates

All the talk at the moment is around interest rates and the continued increases that the Bank of England is approving. No less than 3 in the past 6 months. These increases are no doubt starting to hurt people with large mortgages and if the trend continues then larger percentages of mortgage payers will feel the pinch. In terms of interest rates on loans, the impact is less and slower to filter through. The range of rates across the loans spectrum is wider than that for mortgages and hence a quarter percent rise in rates is diluted across this range. We're watching the trend carefully, while still doing our best to find optimum deals for every customer we help.

Loan Quotes

The regulation of consumer finance advertising is interesting to watch, with the authorities tasked with protecting the customer from misleading information and the finance companies struggling to market their products in ever restrictive environments. Companies are continually finding loopholes in the rules to position their loans products in a favourable way compared to their competition, suggesting that their quotes will be lower than those of a competitor. Many companies will push the boundaries very hard, risking serious fines, but often the level of these fines is insignificant compared to the profits that can be made. Here at Finance Team we take regulatory compliance very seriously and will always treat our customers with the utmost respect.