The news comes after the Financial Services Authority (FSA) announced that it is imposing fines of more than £600,000 on GE Capital Bank, which operates cards on behalf of retailers. PPI is an insurance product that will repay the outstanding…
Continue reading the "Card holders ‘could get PPI compensation’" »
According to Yorkshire Bank’s latest Housebuyers report, more than 80 per cent of first-time buyers are considering taking out a 25 year-plus home loan, while only 39 per cent would rule out a mortgage that was five times their income.…
Continue reading the "First-time buyers ‘risking all they have’" »
Joel Lewis, spokesperson for CCCS, said that if commitments for personal loans, credit cards, store cards come to more than a fifth of a person’s income then they are probably in need of professional help. He advised those who are…
Continue reading the "Borrowers urged not to overextend themselves" »
Since 2001, there has been a ten per cent fall in the number of adults aged under 35 who own their own home, which brings the overall figure down to 49 per cent, according to Propertyfinder. The firm said that…
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However, once the figures are seasonally adjusted, net lending went up by £400 million, far higher than the recent monthly average of £276 million. Annualised new borrowing on credit cards fell two per cent to £7,569 million in December, which…
Continue reading the "Consumer credit “low by historical comparison”" »
Other underhand methods used by banks to prevent customers pursuing their case include threatening to close accounts, charging for statements and ignoring customer letters, according to Which? The consumer watchdog also found that some customers have been offered loans or…
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According to CreditExpert, which carried out the study, 51 per cent of Brits say they are always in control of their personal finances and make every penny count, while 41 per cent know they should invest their money but are…
Continue reading the "Consumers savvy with their money, finds poll" »
London is not only in the grip of its highest repossession rate in more than ten years, it also has one of the highest rates in the UK, according to research for the Evening Standard. And there is no sign…
Continue reading the "London “king of the repossessions castle”" »
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