Car finance – the next PPI?

Car finance - the next PPI?

Could personal contract plans for car finance soon become the new PPI? The UK’s financial watchdog is sufficiently concerned about the way the finance is being sold that they have launched a special investigation.

Pensioner mortgage debt to hit £40 billion

Pensioner mortgage debt to hit £40 billion

A new report has warned that UK pensioner mortgage debt will hit £40 billion by 2030 – double what it is now. The study says soaring house prices, slow wage growth and crippling student loans will combine to force many people to borrow into retirement.

Mortgage finished – now spend or save?

Mortgage finished – now spend or save?

Statistics show that most over 50s pay off their mortgage by the time they’re 55 and suddenly find they have a whole lot more disposable income than they are used to. The average monthly windfall is £322, but what should they do with it? Spend or save?

Up to ¾ million mortgage holders overcharged

Up to ¾ million mortgage holders overcharged

Britain’s financial regulator has ordered an overhaul of the country’s mortgage arrears system after ¾ million people were overcharged by their lenders. An investigation last year found that more than 750,000 mortgage holders had been overcharged by their lenders after falling into arrears.

Have you lost track of your pensions?

Have you lost track of your pensions?

Are you one of the millions of Britons who has multiple pensions and no idea what and where they are? New research has shown that 21% of all adults in the UK has lost track of at least one if not all of their pensions – an amazing 6.6 million individuals.

Landmark FOS decision good news for ‘mortgage prisoners’?

Landmark FOS decision good news for ‘mortgage prisoners’?

A landmark decision by the Financial Ombudsman Service (FOS) could open the floodgates to complaints from thousands of UK ‘mortgage prisoners’. FOS has issued a final decision in a case where a mortgage customer had been left on standard variable rate (SVR) for four years, despite his request to be swapped to a cheaper fixed …

Have you been smished?

Have you been smished?

If you haven’t been smished already, beware – it could happen any day now. Bank customers across the UK are being warned about a new text message scam known as smishing which cost one Santander customer £22,700.

Bye bye bank charges?

Bye bye bank charges?

Mobile banking and the new digital only banks are saving their customers billions of pounds a year in charges claims a new report. Money transfer service Azimo carried out a survey of more than 4,000 people across both the UK and Europe and found that the Brits who have moved over to mobile and internet …