Loan News

Zopa, the online lending and borrowing marketplace where people cut out the banks, has won The Banker Technology Award for 2007 for the Best Internet Project.

The Post Office has applauded the Which? research highlighting underhand sales tactics where by payment protection insurance (PPI) is automatically added to a loan, but is not compulsory.

Around one in three personal loans can now be approved with a quick online decision, new analysis by MoneyExpert.com shows.

Customers with personal loans that include Payment Protection Insurance could get a significant refund if they seek a better protection deal and switch, according to the Post Office.

The National Consumer Council (NCC) is delighted that a scheme to tackle loan sharks will be rolled out nationally to help nearly 200,000 of the poorest, most vulnerable people escape the grip of illegal lenders.

Today, the Chancellor of the Exchequer, Gordon Brown, announced new additional funding to enable the national roll out of a scheme to tackle loan sharks, with a project in every region.

Almost three-quarters (71%) of adults in the UK incorrectly believe the people who lived at their address before them can affect their credit rating.

Commenting on debt and insolvency in the UK, Tim Moss, head of loans and debt at moneysupermarket.com, said: “People should be warned that IVAs are not a magic solution to their financial woes.

Loan firms are cutting back on penalty fees for borrowers who pay off their debts early, new research from MoneyExpert.com reveals. More than one in five loan firms now don’t charge early redemption fees.

Stuart Glendinning, managing director at moneysupermarket.com, comments on cahoot’s flexible loan rate hike of 5.5 per cent: