Nick White, head of personal finance at the price comparison website, said that the First Direct cashback deal could in fact cost borrowers who repay their loan early. “In monetary terms, on a £10,000 loan taken out over five years,…
Continue reading the "uSwitch warning over cashback loan deal" »
Yorkshire Bank today claims that two people in three have an average of £316.15 left over at the end of the month, which could be saved in a higher-rate account. In doing so, they are losing money that could be…
Through the Scarborough Specialist Mortgages (SSM) brand it will offer people with adverse lending risks the chance to take out a mortgage, while claiming to give competitive rates. “The new subsidiary is being launched in direct response to the social…
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The ifs School of Finance said that introducing the qualifications in England and Wales was “essential” to tackle Britons’ mounting debt problems. “We welcome the ippr [Institute for Public Policy Research] report which provides yet more evidence that millions of…
According to Experian, its survey revealed that people are failing to take action to improve their credit rating because they do not know their score. Jim Hodgkins, managing director of CreditExpert, said: “Credit scores change as your credit history changes…
Continue reading the "Credit report ignorance harming consumers" »
According to the Institute for Public Policy Research (ippr), adults aged between 35 and 49 who had financial education at school better managed their debts and were £32,000 richer than their peers. “It pays to get clued up,” said ippr…
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Ray Boulger, of independent mortgage broker Jon Charcol, said that only the most self-disciplined should take out such a mortgage as it was easy to end up with large debt. Commenting on the amount of people getting their first home…
Continue reading the "Expert expresses interest-only mortgages concern" »
Charity workers said that talking about the problem can lead to solutions and stop people from taking drastic measures, including suicide. “Debt is often cited as the reason for suicide, but there are usually deeper issues involved,” a spokeswoman from…
Continue reading the "Samaritans urge people to seek help" »
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