News Tag: repayments
July 21, 2010
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 Reid, has apologised ...
Error raises mortgage payments for Clydesdale and Yorkshire customers
by Gill Montia
June 29, 2010
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 and a fall in Japanese industrial ...
European shares down on banking concerns
by Kay Murchie
May 21, 2010
"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, I'm getting protection in case I lose ...
PPI rarely provides adequate cover
by David Masters
January 28, 2010
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.
However, a year later the proportion has ...
Positive shift in mortgage affordability
by Gill Montia
August 12, 2009
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 each month.
Customers will be sent ...
Barclaycard ‘the only winner’ from helping-hand scheme
by David Masters
April 9, 2009
Millions of people in the UK have cancelled or reduced their insurance policies in a bid to save money as the recession bites.
Research from Sainsbury's Finance found that nearly 950,000 Brits have either given up or cut down their home contents insurance, whilst an additional 700,000 have reduced or stopped payments for their buildings protection.
Life insurance policies have also been ...
Brits axe insurance payments to save money
by David Masters
January 7, 2009
Nearly one in three people in the UK are struggling with debt, new research has discovered.
A poll by MoneyExpert.com found that 30% of people are worried about their ability to stay on top of loan, credit card, and mortgage repayments.
The study also found that more than one in eight people have asked for advice on managing debt because they are struggling to ...
Debt worries plague the nation
by David Masters
December 3, 2008
Northern Rock is to follow the lead established earlier this week by Royal Bank of Scotland and not begin repossession proceedings until mortgage borrowers are six months or more in arrears with repayments.
The nationalised lender has come in for criticism over its repossession policy.
In October, debt charity Credit Action claimed that the bank's level of repossessions was twice ...
Northern Rock holds back on repossession for six months
by Gill Montia
November 7, 2008
Mortgage lenders have been ordered to pass on to customers yesterday's 1.5% cut in the Bank of England's base rate, to 3%.
Chancellor of the Exchequer, Alistair Darling, called leading lenders to a meeting early today and Prime Minister Gordon Brown is backing up the Treasury's actions by stating that the Government is determined to get banks to resume lending.
The UK's ...
Hope for homeowners as Libor falls 1%
by Gill Montia
Mortgage News
