Some Clydesdale and Yorkshire Bank customers are facing increased mortgage costs because of a systems error.
According to reports, around 18,000 variable rate borrowers can expect their repayments to rise by between just few pounds and hundreds of pounds a month.
However, for half of those affected the monthly penalty should be below £25.
Clydesdale’s retail director, Steve [...]
There are fresh concerns over the European banking sector after banks are scheduled to repay €442 billion (£362 billion) worth of loans to the European Central Bank (ECB) later this week.
Shares in Europe hit a three-week closing low today as a result. Furthermore, shares were hit by a sharp fall in US consumer confidence [...]
There are fresh concerns over the European banking sector after banks are scheduled to repay €442 billion (£362 billion) worth of loans to the European Central Bank (ECB) later this week.
Shares in Europe hit a three-week closing low today as a result. Furthermore, shares were hit by a sharp fall in US consumer confidence [...]
“Onerous clauses” on payment protection insurance (PPI) mean that borrowers unable to pay back their loans rarely receive an insurance payout, a finance expert has claimed.
David Kuo, director of Motley Fool, said consumers are being duped into believing PPI will cover them if they have legitimate reasons for failing to make loan repayments.
“Borrowers think, ‘Oh, [...]
Homeowners in England and Wales saw a 20% drop in the proportion of their take-home pay spent on monthly mortgage repayments in 2009.
The latest mortgage affordability research from Barclays’ Woolwich lending arm reveals that in December 2008, mortgage borrowers spent an average £196 of every £1,000 of their monthly take-home pay on their home loans. [...]
Barclaycard’s claim to be lending a helping hand to customers in financial difficulties are little more than a sham to boost the company’s coffers, a financial expert has claimed.
The credit card provider has launched a new advice line targeting customers who are close to their credit limit or who are failing to clear their debts [...]