loan news

New figures have shown that those who have been sold Payment Protection Insurance (PPI) along with credit cards or loans and have a complaint are refunded in nine out of ten cases.

The figures, released by the Financial Ombudsman Service (FOS), show that the cases are almost always ruled in the consumers favour when a complaint is lodged after purchasing the controversial insurance plan.

Leading banks and lenders have been using controversial PPI premiums to subsidise cheap loans and , a survey has revealed.

A study from the Centre for Competition Policy at the University of East Anglia (UEA) found that the banks that were offering loans and other forms of credit with the lowest advertised APR typically had the highest mark-up on their payment protection insurance (PPI) products.

Barclays Bank has launched an appeal against limitations that a being placed on the sale of controversial payment protection insurance (PPI) products.

The number of new mortgage deals for buy to let landlords has fallen by more than two thirds over the past year, leaving many landlords with a struggle to remortgage.

New research by price comparison website moneysupermarket.com has shown a 50 per cent increase in the number of mortgage enquiries from buy-to-let investors at the same time as a 70 per cent reduction in the number of remortgaging deals available.

New Bank of England figures have shown that the total personal debt fell for the first time since records began in 1993.

The total amount of consumer debt fell in July with personal borrowing falling by £600 million and consumers repaid £418 million more on their home loans, which is more than what was borrowed during July.