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Barclays add another £850 million to PPI pot

Barclays add another £850 million to PPI pot

Barclays Bank has added another £850 million to the amount they have set aside to pay future successful PPI claims.

The bank – the first to declare its half year figures for 2015 – has now set aside a total of £6 billion.Read More


Did the government and banks exert pressure on the FCA over mis-selling?

Newsnight claim

A BBC investigation claims the government and banks have both exerted pressure on the UK’s financial regulator to sidestep millions of pounds of compensation for mis-sold interest rate hedging products.

The Newsnight programme says it believes that the Treasury tried to put pressure on the Financial Conduct Authority (FCA) over concerns about how much the mis-selling of interest rate hedging (IRH) products could cost the British banking industry.Read More


Government forced to stop selling Lloyds shares?

Government forced to stop selling Lloyds shares?

Experts believe the government could be forced to stop selling Lloyds shares to make sure there are enough for the Chancellor’s promised sale to the general public.

The trickle selling of shares to the institutions overseen by UK Financial Institutions has been so successful there is a danger the government will run out of shares to sell to the public before the retail sale takes place in February or March next year.Read More


Cash Genie to pay £20 million compensation to customers

Cash Genie to pay £20 million compensation to customers

Payday lender Cash Genie is facing a £20 million bill for compensation after the UK regulator found ‘serious failings’ in the way they did their business.

The Financial Conduct Authority (FCA) listed a number of examples of ‘poor practice’ after the company reported themselves to the regulator and stopped offering new payday loans in September last year.Read More


Banks to set aside another £2 billion for PPI?

Banks to set aside another £2 billion for PPI?

City analysts are predicting that three of Britain’s top banks are about to set aside a further £2 billion to pay for PPI claims, fines and legal costs.

Barclays, Lloyds and Royal Bank Of Scotland (RBS) will all announce their half year figures this week and all of them are expected to reveal substantial amounts being set aside to pay for future successful PPI claims and money needed to pay fines and costs for involvement in a number of scandals.Read More


Is now the time to fix your mortgage rate?

Is now the time to fix your mortgage rate?

Is now the time to fix your mortgage rate while base rate remains at its record low level?

The Bank Of England’s Monetary Policy Committee has just voted to keep the rate at 0.5% – a level it has now held for more than six years. But there are increasing signs it can’t go on for much longer.Read More


SUCCESS STORY – It’s a life-changing sum of money!

SUCCESS STORY – It’s a life-changing sum of money!

Derek Graham first sought Gladstone Brookes’ help in claiming back mis-sold PPI in 2011 and had two successful claims against credit cards with £2,381 recovered from Lloyds and £1,168.33 from Citifinancial.

“I decided to make a claim when I saw the advert on the TV because, like many people, I’d taken out a number of loans when I was younger and even though I told them I didn’t want the PPI they told me I had to have it or the loan would not be approved.Read More


Will renting overtake home ownership for the young?

Will renting overtake home ownership for the young?

Accountancy firm PwC predict more than half of Britain’s under 40s will be renting homes from private landlords in 10 years time.

It also predicts house prices will continue to rise at 5% a year, pricing the average home at £360,000 by 2020.Read More


MPs will investigate delays into HBOS report

MPs will investigate delays into HBOS report

MPs from the Commons Treasury Select Committee (TSC) are set to investigate the continuing delays into the publishing of the report on the £20.5 billion collapse of Halifax/Bank Of Scotland (HBOS) seven years ago.

The report was commissioned in 2012, but has been repeatedly delayed.Read More


FOS says 74% of PPI claims unfairly rejected

FOS says 74% of PPI claims unfairly rejected

New quarterly figures issued by the Financial Ombudsman Service (FOS) show that 74% of the claims resolved between April and June had been unfairly rejected.

The new figures show that FOS received 62,105 complaints about PPI in the three month period, resulting in 49,377 new claims – a rate of 3,700 a week.  PPI claims continue to make up more than half of all complaints received by the service.Read More



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