News

Please select from the latest news stories below:

• Bank charges ruling good news for consumers - The long-awaited announcement from the High Court last week that the Office of Fair Trading (OFT) does in fact have the power to determine whether bank charges up to £39 for exceeding overdraft limits were unfair, is great news for people who are claiming a refund on excessive fees.
• England will win the World Cup before banks admit to excessive credit card charges - Consumer finance expert and director of Claim 2 Gain, Matthew Whiting, is calling for greater accountability in the finance sector: “It is remarkable that banks and finance companies are still getting away with nothing short of deceit...
• Borrowers urged to avoid "fully insured" loans - Despite the current credit crunch, people are still borrowing money left right and centre, meaning bank sales staff will continue to sell Payment Protection Insurance (PPI) to supposedly cover loan repayments if unforeseen circumstances prevent the borrower from doing so. .
• Shoppers beware of PPI scams in the January sales - Despite increasing levels of household debt, consumers in the UK will spend around one billion pounds this year to satisfy our Christmas shopping addiction.
• Beat the Payment Protection Blues - Thousands of borrowers who were mis-sold rip-off loan insurance will never get their money back despite a crackdown by the City watchdog, writes Mirror...
• PPI Pandemonium - The FSA releases its latest findings on PPI...
• Time to clear the confusion - Mortgage Introducer looks at the recent FSA findings on payment protection insurance and questions whether firms in the market are really learning their lesson...
• Our Carol Vorderman loan nightmare - This couple believed they could trust a finance company promoted by the star of Countdown. So why were they charged an astounding £18,250 for insurance that they did not need and could not use?
• British consumers owed £1,000s - Millions of British consumers who took out insurance to protect loan, mortgage and credit card payments in good faith are now waking up to the fact that their cover is worthless and over priced.
• Why banks are misleading judges in unfair credit card charges case - The unfair banks charges case has been going on for a little while now. Millions of consumers have filed claims against their banks and credit card providers and thousands of pounds has been lost by the lenders because of it.
• Lifetime Mortgage Sales and Advice: Improvements made, but further to go - Despite improvements over the past year, firms still need to do more to improve the quality of their advice on lifetime mortgages, according to the Financial Services Authority.
• Interest-only mortgages warning - A significant minority of people with interest-only mortgages do not have "robust plans" to repay them, warns the Financial Services Authority (FSA).