Blog Category: News
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
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
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 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
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 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
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
npower has been ordered to give free energy to customers whose complaints it did not resolve on time.
The energy regulator, Ofgem, said households which had an ombudsman ruling outstanding for more than 28 days against the company would get free power and may also have their debts written off.Read More
Interest only mortgages are making a come-back on the high street as lenders become increasingly involved in a ‘rate war’ to win new customers and boost revenues.
The number of ‘riskier’ mortgages is also on the increase, according to the comparison website, Moneyfacts.Read More
Martin Wheatley, chief executive of the Financial Conduct Authority (FCA), has been ousted by Chancellor George Osborne.
News outlets are claiming Mr Wheatley resigned after learning Mr Osborne would not be renewing his contract when it came up for renewal in March next year.Read More