Britannia Building Society has admitted that it was unsuitable to sell a five-year bond to a 92-year-old, seriously ill man, the Daily Mail reports, but said that it would not discriminate against a customer due to their age. The Financial…
The warning was given after the bank’s report showed a sharp increase in living costs as debt and bill levels rise and inflation reaches a nine-year high of 2.5 per cent. Michael Saunders, chief UK economist at Citigroup, told the…
Help the Aged claims that two-thirds of people approaching their pension have no plans to fund their care, which can cost around £21,000 per year. However, the charity believes that poor debt management and financial planning is contributing to this…
Continue reading the "Workers heading for retirement of debt" »
As it launches its own insurance policy for loan repayments, the Post Office criticised many PPI providers for failing to inform customers that they can shop around for better deals. Welcoming the announcement, Pula Houghton, spokesman for Which?, said in…
Through funding from Barclays, there should be an increase in face-to-face advisors and affordable financial services for low-income consumers. “[This] is an exciting opportunity to reach people in real need who would not normally seek mainstream debt advice,” said Citizens…
Continue reading the "Citizens Advice to tackle financial exclusion" »
The average new student is set to graduate owing £15,000, over double the current average debt of £6,161, Callcredit has said. “Life is financially harder for students now than it has ever been and the decisions people make about their…
Moneyfacts, Defaqto and moneysupermarket research has found that consumers do not always get the best deal available on PPI and are “being ripped off”. Simon Burgess, managing director of British Insurance Limited, commented on the findings, which have been tabulated:…
Ginny Broad from Alliance & Leicester said that with the interest rate rising recently, it will affect individuals’ loan and debt levels. “We see bigger council tax bills and bigger gas and electric bills and I think that it is…
Continue reading the "Interest rates a “cause for thought”" »
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