As many consumers will be only too aware accessibility to loans of any sort has become far more difficult over the past nine months, since the global credit crunch swept across the UK, wreaking havoc in the nation’s financial markets. Many consumers who may have been eligible for a loan a year ago may find that the tighter credit conditions in place now mean that they can no longer get an affordable loan – or in some cases any loan – which has made things very difficult for some, particularly given that many households and experiencing real financial worries due to increased living costs. (more…)
Tags: overdraft, banks, loanA great number of bank accounts include some form of overdraft facility. The purpose is to allow the account holder to access funds beyond what they hold in the account, up to a specified limit. It is essentially a line of credit that you prearrange with the bank for use at those times when you need extra cash. Overdraft facilities are commonly available for both personal and business accounts. (more…)
Tags: overdraft facility, overdraft, borrow overdraft