- Thursday, January 12, 2012, 12:03
- Consumer rights, Loans, Payday loans
Payday loan provider Wonga has removed pages from its website suggesting students should take out its loans.
The move came after the National Union of Students (NUJ) called the firm “highly irresponsible” for marketing loans with a typical APR of up to 4,214% to students. Wonga said it will continue to except applications from working ...
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- Wednesday, January 4, 2012, 12:39
- Housing & real estate, Loans, Payday loans
Nearly a million people took out a payday loan to cover their rent or mortgage payments over the past 12 months, according to a poll by a leading homelessness charity.
A YouGov survey carried out on behalf of Shelter found that a total of 7 million people fell back on some form of credit to ...
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- Wednesday, December 7, 2011, 13:30
- debt, Loans
Millions of Britons are being forced to take out expensive payday loans to make ends meet, according to a study from R3.
The insolvencies experts warned the number of people turning to payday lenders – who charge interest rates of several hundred percent – is unlikely to wane in the current economic climate as increasing ...
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- Monday, August 1, 2011, 10:00
- Loans, Personal Finance
The Student Loans Company (SLC) overcharged graduates by £22.5 million last year, according to figures obtained by Moneysavingexpert.com.
An average overpayment of £557 was taken from the pay packets of over 40,000 borrowers in the last financial year after the SLC continued to take payments from graduates who had already ...
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- Tuesday, January 18, 2011, 12:15
- Loans
New legislation to cap the amount of interest payday loan companies are allowed to charge their customers will be discussed in parliament today.
Stella Creasy, Labour MP for Walthamstow, who proposed the motion with Justin Tomlinson, the Conservative representative for North Swindon, said that poorer consumers shut out of mainstream credit are “sitting ducks” for ...
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- Friday, January 7, 2011, 15:08
- Loans
Competition appears to be making a return to the unsecured loan market after a handful of major lenders slashed their rates in the lead up to the New Year.
The interest charged on unsecured loans leapt after the credit crunch in 2007 as lenders sought to protect their positions and has stayed ...
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- Friday, October 29, 2010, 15:40
- Featured, Loans
With tough bank lending becoming an increasingly heated issue, many are turning to alternative sources of revenue – their friends. Over one quarter of British people have lent money to friends during the past year alone, according to a survey from the Post Office. And we are not talking small sums; the average was more ...
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- Tuesday, June 15, 2010, 12:21
- Debt Management, Featured, Loans
New research by insolvency trade body R3 has revealed that nearly 70,000 people in Britain have contacted either a loan shark or doorstep lender because of financial difficulties.
Their questionnaire revealed that a total of 67,000 people have contacted either a loan shark or doorstep lender about their
debts, whilst a further 13% have considered ...
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- Tuesday, June 8, 2010, 0:27
- Featured, Loans
According to research by Sainsbury’s Finance, £37 million was taken out in
loans last year to pay school fees, university fees, and general education costs.
With the cost of education increasing by 5% in the past year (to February 2010), Sainsbury’s Finance estimates that just under 4,400 personal loans with ...
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- Thursday, May 27, 2010, 12:15
- Featured, Loans, Mortgages
New figures from the Council of Mortgage Lenders show that the number of house purchase
loans in Scotland during Q1 2010 matched the rest of the UK by falling.
Such loans fell by 33% in Scotland, from 14,400 (worth £1.6 billion in the last three months of 2009) to 9,700 (worth £1.1 billion in the ...
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New research by Santander Cards suggests that the average spend on weddings for average wedding guests in the UK has reached £380 per wedding, equating to a national spend of £10.45 billion.
The biggest outlay that wedding guests face is travel and accommodation (£210), followed by a wedding present (£131), outfit and accessories for the day ...
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- Monday, April 19, 2010, 11:16
- Debt Management, Featured, Loans
The number of people taking out personal loans to
consolidate their debts has dropped sharply over the last two years new figures from Sainsbury’s Finance reveal; perhaps indicating that many borrowers are attempting to pay off their debts rather than consolidating them.
Two years ago (2007), £1 in every £13 borrowed ...
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Inflation reaching 3.7 per cent last month means most of us are now losing money on our savings - here's how to make sure you are not.
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Coming to the end of your 0% deal on the Virgin credit card? Or any other for that matter. We show you what to do next.
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- Thursday, January 21, 2010, 15:40
- Loans
If you are planning on applying for the current Sainsbury's
personal loan at a rate of 7.9% APR typical, you have until Tuesday 26th January.
The product is available for loans of between £7,500 and £15,000. Nectar card holders applying successfully for a loan will also benefit from double Nectar points on their shopping ...
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- Tuesday, October 27, 2009, 13:18
- Featured, Loans
Despite a rocky start, it seems the Government's car scrappage scheme is succeeding in its mission to stimulate the motor vehicle market in the UK.
The UK car scrappage scheme was announced in the Budget speech on April 22nd, and allows owners of cars and small vans registered before 31st August 1999 to trade ...
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- Wednesday, September 30, 2009, 14:40
- Credit Cards, Loans
The Financial Services Authority (FSA) has revealed a package of measures to protect consumers in the Payment Protection Insurance (PPI) market and ensure they are better treated when buying PPI or complaining about it.
Single premium PPI products have long been controversial, particularly with consumer watchdogs who claim that the policies are misleadingly front-loaded, accrue outrageous interest, and have strict pay-out terms and conditions. In early ...
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- Wednesday, September 30, 2009, 14:38
- Credit Cards, Loans
Decline in the consumer credit market continues, but the contraction rate has stabilised, according to new figures published today by the Finance & Leasing Association (FLA).
Overall, business written by FLA members, who provide
secured and unsecured loans,
credit and store cards, and motor finance, fell by 17% in July 2009 compared with the same month in 2008 – a difference £11 billion.
New consumer ...
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- Thursday, September 17, 2009, 13:50
- Featured, Loans
The
personal loans market has shrunk by 37% in the last 12 months and rate have climber, according to new research from uSwitch.com.
According to the report, since the start of September, three unsecured personal loan providers have implemented rate hikes of up to 1.2% for new customers. This product ‘tweak', although seemingly small, could ...
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- Wednesday, September 9, 2009, 15:40
- Featured, Loans
You might think gap years are just for students, but it seems many working Brits are choosing to take a year out later in life, according to new research by
Halifax Unsecured Personal Loans
The Halifax research found that almost half (49%) of 55-64 years would like to take time out to travel and over ...
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