The UK has seen its weakest period of economic growth for five years. Figures from the Office for National Statistics (ONS) show the economy slowed down to just 0.1% growth during the first three months […]
The Bank of England is expected to keep interest rates at their record low of 0.25% until 2019. A poll carried out by News Agency, Reuters, found that 66 out of 67 economists believe interest […]
Surely as a customer borrowing money you should only pay interest on what you owe at the time, right? So as you pay part of your loan off, you owe less, and the interest payable comes down accordingly. Why should you have to pay interest based on the whole amount you originally borrowed, even though you don’t owe that now?