The law is still being debated by the Seanad, Ireland’s upper house, and ministers are considering to extend the scheme to foreign banks that have a large number of Irish depositors.

Two major banks, the Ulster Bank and National Irish Bank, unsurprisingly have a large Irish customer base but are owned by companies outside the Repblic of Ireland. The finance minister said applications would be considered on a case by case basis, according to BBC news. However, Finance Minister Briand Lenihan said the Irish state was deep into the banking system and must make sure that taxpayers are protected.

The government’s 400bn euro guarantee covers Allied Irish Bank, Bank of Ireland, Anglo Irish Bank, Irish Life & Permanent, Irish Nationwide Building Society and the Educational Building Society.

The British Bankers’ Association worried that British banks will now be put at a competitive disadvantage when seeking deposits from retail customers.

Some UK depositors are now considering moving their savings to Irish banks. The Bank of Ireland confirmed a steady increase of phone inquiries and the Post Office, whose savings products are backed by the Bank of Ireland, too has seen increased customer activities.

Read full article

Editor’s opinion: Perhaps UK banks should take a leaf out of the Irish and French banking systems? For UK banks to be worried about disadvantages then maybe there should be more emphasis on protecting taxpayers and depositor investments rather than loose regulation on risk taking banks and short selling traders. Perhaps the average taxpayer is tired of being dragged down with the wealthy bankers who got themselves into their own mess?

What do you think?

Bradford & Bingley also reported job cuts of approximately 370 jobs as the lender’s future remains uncertain. Although British banks could say they have weathered the storm a bit better than their US counterparts, it seems a domino effect of bad news one day after another.

At the moment, the US government is trying to quickly pull together a massive $700 billion rescue package to bail out its collapsing financial sector. Washington Mutual, the latest victim to fall, is the largest US bank in history to go under. JPMorgan Chase was there to buy out the struggling bank adding to its growing portfolio which includes Bear Stearns purchased earlier this year.

HSBC Loans

The UK alone has seen this finance sector grow to £500 million as a report reveals 400,000 Muslims hold Sharia-compliant products.

Islamic financial products are designed to comply with the belief system of the Islamic religion. With an estimated 3 million Muslims living in the UK, the market potential is quite large. However, now even non-Muslim Britons are becoming customers due to the ethical fabric that makes up Sharia-compliant finance.

Other, more traditional, UK banks are stepping into the market such as HSBC Amanah, the Bank of Ireland’s commercial mortgage sector, and Lloyd TSB’s Islamic offerings. This may not be enough for some orthodox Muslims as many UK banks still depend to a certain degree on the interbank market to obtain their funding. The Islamic Bank on the other hand sources their funds from its deposit base therefore do not rely on borrowing from banks that may not qualify as Sharia-compliant.

Read the source

Technorati Tags: islamic finance, times, online, muslims, uk, sharia-compliant, hsbc, lloyds tsb, bank of ireland

Zopa is a marketplace for Social Lending and is administered by the worlds first borrowing exchange.

Zopa was created by the core team that created Egg.com and is backed by Benchmark Capital who are the people who backed eBay.

Features include:

• Borrow as much as £25,000
• Fantastic rates
• Online application
• No early redemption penalties
• You can choose the rate at which you wish to borrow
• No missed repayment fees
• No middleman, no banks involved

Compare the best deals in unsecured personal loans by UK providers online now.

Zopa is a borrowing and lending exchange and as a Zopa member, you can choose to be a borrower or a lender, or even both. If you take out a Zopa Unsecured Loan, you could be borrowing from a professional, pensioner, student or entrepreneur. Zopa is a well-regulated and secure way to borrow.

Zopa stands for Zone of Possible Agreement and refers to the overlap between the lowest amount a lender is prepared to get for something and the highest amount the borrower is prepared to pay.

Interest rates are agreed upon by its lenders. You will pay a fee of 0.5% of the loan up front, and you can expect a strict credit check. You cannot borrow from Zopa if you earn less than £25,000 a year, have any CCJs or tons of unsecured debts. You will also find it hard to get a Zopa Loan if you’ve had trouble making bill payments in the past.

Keep up to date with news and information about UK finance - UK Finance News

Additional Terms: zopaloans, zopaloan, zopasloans, zopa.co.uk

A Yorkshire Bank Personal Loan usually offers you:

• Loan amounts from £1000 to £25000, in multiples of 250
• Flexible repayment terms from 1 to 5 years and up to 7 years for home repairs
• fixed interest rates
• Your loan does not require you to own a home
• Helpful advice
• Online application
• Optional Repayment Protection Insurance
• Same day transfer of funds for existing Yorkshire Bank clients

Only existing Yorkshire Bank clients can apply online for a Yorkshire Bank Personal Loan as you will need to make repayments from a Yorkshire Bank Account. If you do not currently hold an account with Yorkshire Bank but would like to apply for a Personal Loan, simply call into your nearest branch.

If applying online a response is usually given within one working day of you submitting your application form. If you are a Yorkshire Bank customer, your loan will be automatically paid into your bank account once your signed loan agreement has been received along with any supporting documentation.

Applicants must be 18 or over. Loans are subject to status and the rate and term at which funds are lent will reflect on Yorkshire Banks assessment of your personal circumstances, your chosen loan amount and your loan purpose.

Keep up to date with news and information about UK finance - UK Finance News

Additional Terms: yorkshirebankloans, ybonline.comloans, yorkshirefinance

With a Welcome Finance personal unsecured loans you can:

• Borrow between £750 to £8500
• Apply regardless of having County Court Judgements or less than perfect credit
• Pay a fixed rate of interest each month
• 2 to 4 years payment plan
• Use your loan for for most things

Repayment packages will however vary depending on the sum borrowed and the length of the payment plan.

A personal loan for homeowners from Welcome Finance allows you to borrow more and spread your repayments over a longer period of time at a lower APR.

With a secured Welcome Finance personal loan you can:

• Borrow from £1500 to 50000
• Repayment your loan over a period of up to 15 years
• Apply for a loan even if you have mortgage arrears, CCJs or a low Credit Rating (be sure to check with the lender first)

As with any secured loan secured against your home, make sure you can afford the monthly repayment or your home may be at risk of repossession. Compare Welcome Finance unsecured loans online now.

Keep up to date with news and information about UK finance - UK Finance News

Additional Terms: welcomefinance, welcomefinanceloans, welcomfinance

A Virgin Unsecured Loan can be used for just about whatever you choose from home repairs to consolidating existing debts.

With a Virgin Loan you can:

• Borrow up to £25,000
• Enjoy competitive APR on loans between 5,000 and 25,000
• Choose your repayment schedule from one to seven years
• Apply online
• immediate decision
• Speedy transfer of funds once you have signed your loan agreement
• Optional Payment Protection Insurance, also known as PPI

Compare Virgin Loan deals online now and obtain a free no obligation quote.

Virgin Money was established in 1995 and launched the Virgin Money loan in May 2002. Currently, Virgin Money offers a wide range of banking services, such as, credit cards, loans, mortgages, insurance, savings, and pensions.

The Virgin Money unsecured loan allows for you to borrow from £3,000 to £25,000 at a fixed rate of interest. It is possible to choose a loan term between 12 to 72 months. Should your circumstances change, Virgin also allows you to request an increase of the original amount of the loan. Four months of payment break is another potentially attractive feature. There is no penalty for the early repayment of a Virgin Money loan.

Keep up to date with news and information about UK finance - UK Finance News

Additional Terms: virginmoney, virginmoneyloan, virginloan, virgin.co.uk/loans

[Caption]

If you’re needing to consolidate existing debts or take on some much needed home improvements a Tesco Non-Homeowner Loan could be just what you are looking for. Tesco Finance are an award-winning provider so why not get a Tesco Unsecured Loan quote online today.

A Tesco Finance Loans offers you:

• Loan amounts from £3,000 to£ 25,000
• Simple and expeditious online application
• No set up charges
• Option to choose your own payment plan that best suits you
• Fixed interest rates so your payments will never change from month to month
• Transfer balances from other cards and personal loans
• Take a 2 month repayment break at the start of the loan (depending on availability)
• Optional payment protection insurance

Apply online now to obtain a free no obligation quote.

Tesco Finance is a joint venture between Tesco plc and RBS. The Tesco Non-Homeowner Loan is not secured on your home, and the interest rate is fixed, allowing you to budget for the same repayment amount every month. Maximum term for Tesco loans under £15,000 is 5 years, with the exception for home rennovation loans.

Tesco Unsecured Loans for refinance purposes can be taken for a maximum of five years except for home owners, for whom maximum term is over seven years. Tesco loans over £15,000 are just available to those who have a mortgage.

Keep up to date with news and information about UK finance - UK Finance News

Additional Terms: tescounsecuredloans, tescofinance, tescofinance.com, tescopersonalloans

Get your financial situation under control with a Smile Loan that suits your requirements.
You could:

• Borrow as much as £25,000
• Apply online
• Receive a competitive Annual Percentage Rate on loans between 7,500 to 25,000
• fixed rates for the total life of the loan so your payments will never rise
• Repayment period up to 7 years
• Opt to have an optional payment protection insurance to cover your payments in case of unexpected illness or in case you lose your job

Search online now for the best deals with a Smile Personal Unsecured Loan

Along with CIS and The Co-operative Bank, smile.co.uk is part of the of The Co-operative Financial Services (CFS) family. Smile.co.uk is based in Stockport, near Manchester.

Like The Co-operative Bank, it has a strict ethical policy, dedicated to following its customers ethical concerns. The fact that it is online supports its ethical policy, keeping running costs to a minimum.

All transactions can be carried out online, including standing orders, foreign currency exchange and requests for an increased overdraft. Smile.co.uk customers are able to withdraw money from any LINK cash machine, while cash and cheques can be paid into any post offices branch.

Keep up to date with news and information about UK finance - UK Finance News

Additional Terms: smilepersonalloan, smileloans, smile.co.ukloans, smile.co.uk/loan

Sainsburys lets you to:

• Borrow from 7,000 to 25,000
• Apply online
• Decision in minutes
• Receive your money in 24 hours
• Competitive fixed APR
• No repayments for the first 3 months
• Optional payment protection insurance

Compare Sainburys Loans online now and find the optimum deal for you.

Sainsbury’s began trading in February 1997, and was the first major British supermarket to open a bank. Sainsbury’s Bank has over 1.5 million active clients, and its assets are well over £2 billion. Sainsbury’s Bank provides a wide range of financial products including loans, insurance, credit cards, and savings accounts.

Sainbury’s Bank loans allow you to borrow up to £100,000 at the typical Annual Percentage Rate of 8.95%. A service fee of between 0 and 10% of the loan amount may be charged depending on credit history and ability to provide proof of income. The average amount is £640.

Keep up to date with news and information about UK finance - UK Finance News

Additional Terms: sainsburysbankloan, sainsburysloan, sainsburysfinance