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Households get their finances into shape over lockdown: Experian finds customers cleared nearly £2,000 of debt each between March and June The reference agency said those with £30,000 or more in debt fell by a third Non-mortgage borrowing fell by £1,934 among its Credit Expert subscribers The data backs up official figures which has found … Read more
A staggering eight in 10 borrowers over 55 who expect to be able to renew their mortgage are being turned down by mortgage lenders, This is Money can reveal. A study carried out by broker Retirement Mortgage Service over the past year found that more than 30,000 retired borrowers got in touch with their advisers, with … Read more
Payday loan firms lure borrowers into debt with pictures of exotic holidays, City watchdog warns Payday loan firms were accused of ‘normalising’ of 1000 per cent interest loans The Financial Conduct Authority said firms are enticing customers to borrow It added it is too quick and easy to get these loans that people cannot afford … Read more
End of the Bank of Mum and Dad? Nationwide tell first time-buyers to prove they SAVED 75% of deposit themselves Nationwide will crack down on first-time buyers relying heavily on their parents Buyers need to prove at least 75 per cent of mortgage money is from own saving Survey by Savills revealed 40 per cent … Read more
Hundreds of thousands of customers of Barclays and Santander have taken payment holidays on credit cards, personal loans and mortgages, the banks revealed in results today. At the same time, official figures from the Bank of England show households have cleared billions of pounds of debt over the last few months. Britain’s third-largest mortgage lender … Read more
Borrowers using payday loans, buy-now-pay-later deals, car finance and pawnbrokers get new help if they can’t meet payments due to Covid Guidance comes in force on Friday and covers rent-to-own business customers For customers yet to request payment freeze, they can apply up to October 31 A ban on repossessions for motor finance and RTO … Read more
Credit card interest rates hit a record high this month despite a record low base rate as providers hiked the cost of borrowing for those with poor credit histories or turned down by mainstream banks. The average credit card purchase APR now stands at 25.5 per cent, up from 24.1 per cent last June, after … Read more
Harry Potter star Tom Felton, 31, shares amazing throwback snap from The Borrowers’ 1997 premiere… complete with Nineties-appropriate curtains, white suit and black shirt By Ciara Farmer For Mailonline Published: 10:28 BST, 18 May 2020 | Updated: 10:28 BST, 18 May 2020 He soared to fame as the wicked Draco Malfoy in Harry Potter And … Read more
Borrowers of £48billion in car finance will be able to freeze their payments for three months if they are struggling to cover their installments due to coronavirus, the Financial Conduct Authority proposed today. The city regulator said those who used Personal Contract Purchase, Hire Purchase or Conditional Sale agreements to purchase a car would be … Read more
More choice for older borrowers looking for retirement interest-only mortgages By Money Mail Reporter For The Daily Mail Published: 22:00 GMT, 25 February 2020 | Updated: 00:24 GMT, 26 February 2020 Older borrowers now have more retirement interest-only (Rio) mortgages to choose from. There are 18 providers offering 74 deals — up from just 36 … Read more