Loans
Loan rates continues to creep up for consumer
Despite the recent base rate decrease, in the last week two loan providers have increased their unsecured loan rates by up to 4.8%, hitting consumers even harder in the pocket.
Generous Brits lose cash to loved ones
More than 20 million Brits are lending money to family and friends, new research from AA Personal Loans reveals.
Consumer scramble for protection means change needed now
The latest findings by the Competition Commission on the shortcomings of the retail payment protection insurance (PPI) market is one step closer to the watchdog admitting they can see the elephant in the living room, says Shane Craig of independent PPI provider Paymentcare.co.uk.
Competition Commission's findings into retail PPI
Commenting on the Competition Commission's findings into retail PPI (RPPI), Rob Barnes, head of shopping at price comparison site moneysupermarket.com, said: "Brits across the country are undoubtedly watching their pennies as the credit crunch takes full hold.
Loan rates continue to soar
Michelle Slade, analyst at Moneyfacts.co.uk, comments: "A few months ago Moneyfacts reported that borrowers could no longer find loan rates of less than 7%: now there are just seven providers offering rates less than 8% and this number is dwindling fast.
Brits jumping straight back into the red
Almost two out of three people who take out a loan to consolidate their debts go on to borrow more while still repaying that loan, according to research from the UK's leading price comparison site, moneysupermarket.com.
FSA now hitting companies where it hurts
As the Financial Services Authority (FSA) announces that it has fined Alliance & Leicester £7million for mis-selling Payment Protection Insurance, Which? Chief Executive, Peter Vicary-Smith, says: "It's great to see the FSA hitting companies where it hurts.
A&L: FSA findings regarding sale of PPI
Alliance & Leicester confirms that it has agreed a settlement with the Financial Services Authority in relation to advice given over the telephone prior to the sale of Payment Protection Insurance with unsecured Personal Loans between 14 January 2005 and 31 December 2007.
Alliance & Leicester to pay £7 million fine for PPI failings
The Financial Services Authority (FSA) has fined Alliance & Leicester Plc (A&L) £7 million for serious failings in its telephone sales of payment protection insurance (PPI).
Website to help consumers compare home credit loans
A new website will be launched in October 2008 to help consumers compare the price of home credit loans and loans repaid in cash from some other providers including credit unions.
In 28 days loan rates rocket by up to 9%
In the last four weeks alone, research from uSwitch.com reveals that eight providers have increased unsecured personal loans by as much as 9% and the total number of loans available has fallen from 56 to 52.
Payment Protection Insurance: BBA responds to FSA review
"Payment protection insurance is a valuable product which provides customers with a safety net to meet their financial commitments. This is particularly important in these times of economic uncertainty when PPI can provide peace of mind for millions of customers.
PPI has never been a more valuable product
The FSA have published their thematic update on the sale of Payment Protection Insurance (PPI). The insurance industry has been working hard to improve the sales of PPI so that customers can be satisfied they have a valuable product that is suitable for their needs during such uncertain economic times.
FSA's dithering over PPI is failing consumers
Following the publication of the Financial Services Authority's (FSA) latest announcement on its investigation into PPI sales, Which? chief executive, Peter Vicary-Smith, says: "This damning evidence demands that the FSA stops dithering and takes decisive action to sort out the PPI market.
FSA to act on PPI
In an update on its thematic review of sale of Payment Protection Insurance (PPI) the Financial Services Authority (FSA) has set out that, due to the poor findings from its recent work, it is escalating its regulatory intervention.