Advice On Mortgage Overpayments Warning

A new survey has revealed 25% of all borrowers are taking advantage of low interest rates and paying down their mortgage. Homeowners are however being told to check the small print of their loans. If mortgage interest is recalculated once a year then borrowers will not get the full benefit immediately off any monthly overpayments. Read the rest…

Tough new rules to be introduced will mean borrowers will have to undergo a credit check before being accepted for a new loan. A clampdown on irresponsible behaviour will force banks and building societies to be more strict before lending. The aim of the legislation is to; Eradicate any sense of misleading within statements and Read the rest…

An official report by the Payments Council has suggested cash will be used in fewer than half of all transactions by 2015, suggesting notes and coins are being rapidly overtaken by plastic in consumers’ pockets. Out of the 37 billion transactions carried out last year, 59% were done with cash, a sharp decline from the Read the rest…

A MoneyMail investigation has revealed banks and building societies are failing savers looking to boost their monthly income. The investigation has unearthed that just a handful of the 250 cash ISAs available allow savers to take their interest monthly rather than just once a year. Tax-free cash ISAs were introduced in 1999, and savers who Read the rest…

Over 300,000 borrowers a year are being denied refunds equalling thousands of pounds for over-the-odds payment protection insurance (PPI) due to banks who are still automatically rejecting complaints. Banks appear happy to ignore orders from the City watchdog, the Financial Services Authority (FSA), whom only ten months ago condemned lenders for refusing to compensate customers Read the rest…