Loan News
Shrinking credit market may put consumer choice at risk
The consumer credit market is shrinking and consumers could face even less choice and reduced availability in future, according to the Finance and Leasing Association (FLA), which today published its latest consumer lending figures.
OFT warns consumers about 'Debt Sale' scams
The OFT is warning consumers not to be taken in by businesses claiming to help them become debt free by 'buying' or 'selling on' their debts.
Regular PPI as expensive as single premium
Which? has found regular premium payment protection insurance (PPI) with unsecured loans that costs as much as single premium PPI.
Payment protection insurance: Have you checked yours?
Claims for mis-sold payment protection insurance are on the up; in fact cases have doubled every month for the last six months at Fairinvestment.co.uk's partner firm Claims Financial.
UK's outstanding debt overtakes annual salary earning
As the recession continues, new figures from Confused.com highlight the levels of debt British homes are exposed to, as people owe more than they earn in a year.
Sainsbury's one of just four lenders in "Sub 8% Loans Club"
New research from Sainsbury's Loans reveals that there are currently just four lenders, of which it is one, offering an APR of less than 8% on unsecured loans on loan amounts between £5,000 and £15,000.
Citizens Advice: OFT debt management cold calling warning
Citizens Advice Director of Public Policy Teresa Perchard said:"This is absolutely the kind of prompt and decisive action needed to tackle rogues taking advantage of the downturn."
OFT warns debt management businesses over cold calling
The OFT has told six debt management businesses and four cold-calling companies to stop using unsolicited and misleading calls to advertise their services or face formal enforcement action.
Brits invest in themselves
The annual Halifax Unsecured Personal Loans review takes a look at what consumers are using personal loans for. The research reveals its not just home improvements and cars that motivate Brits to apply for loans; there is a continued trend when it comes to investing in ourselves ....
Legal & General Mortgage Club launches loan service
Legal & General Mortgage Club has launched a loan service for directly authorised members via Moneio and its website ‘The Lending Wizard'.
Which? blasts banks for challenging PPI ban
As Lloyds Banking Group adds its weight to Barclays' challenge of the Competition Commission's (CC) point of sale ban for Payment Protection Insurance (PPI), Which? chief executive, Peter Vicary-Smith, says: "It's outrageous that a taxpayer-backed bank is challenging the Competition Commission for the right to sell a rip-off product to the very taxpayers who bailed it out.
Loan comparison website offers tips to improve your credit profile
thelendingwizard.com a free, simple and efficient online consumer tool to compare loans is offering consumers 5 top tips to improve their credit profiles.
moneysupermarket.com: FLA's loan report
Commenting on the Finding and Lending Association's (FLA) report of a 45 per cent fall in unsecured loans over the last 12 months, Tim Moss, head of loans and debt at moneysupermarket.com, said; "The FLA seem to have reached the conclusion that the decrease in unsecured lending is down to a fall in consumer demand.
Brits give debt the cold shoulder as recession continues
As financial priorities change to reflect the turbulent economic climate, research from Fairinvestment.co.uk has found that Brits are steering clear of more borrowing.
Consumers shy away from unsecured loans
The latest statistics released by the Finance and Leasing Association (FLA) showed that unsecured loan business has been significantly hit by the credit crunch with new business 45% lower in February compared with February 2008.