Loan News
Nervous equity investors should consider Zopa lending
Wobbling stock markets and rising interest rates make now a perfect time for equity investors to reduce and spread their risks by investing in prime unsecured lending via Zopa.
“Spend now and pay later” is alive and well
Many of us are still spending now and paying for it later, according to a survey by Fool.co.uk.
Firms agree to change the way they sell PPI over the internet
Major finance firms have agreed to change the way they sell payment protection insurance (PPI) over the internet, following action by the Financial Services Authority (FSA).
Credit squeeze hits as missed loan payments increase
More than 7,716 loan repayments are going unpaid every day as the recent Bank of England rate rises start to bite, new MoneyExpert.com research shows.
PPI price rises – adding insult to injury
Michelle Slade, personal finance analyst at Moneyfacts.co.uk, comments: “With PPI currently under the OFT microscope and being seen as an ‘overpriced, inflexible’ product, you may have thought lenders would be reluctant to rock the boat further.
Borrowing less is costing more as lenders boost rates
People looking to borrow less than £5,000 are finding affordable loans increasingly difficult to come by, according to MoneyExpert.com.
Banking Industry votes Social Lending as the future of finance
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: Which?'s payment protection insurance research
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.
Quick online decisions fuelling loan rejections
Around one in three personal loans can now be approved with a quick online decision, new analysis by MoneyExpert.com shows.
Customers could receive a refund by switching payment protection insurance
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.
NCC welcomes new move against loan sharks
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.
Government announces roll out of projects tackling loan sharks
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.
“Before I buy your house, can I see your credit rating?”
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.
moneysupermarket.com: debt and insolvency in the UK
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.
Beat the loan penalty trap
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.