Arrears

Barclays has been fined £26 million by the financial regulator over the poor treatment of 1.5 million borrowers who had fallen into arrears or financial difficulties over a period of four years - and affected customers have also been refunded. 

Prime Minister Theresa May has said the student loan repayment threshold will be increased from £21,000 to £25,000 as part of a wide-ranging review of student finance.

People in England and Wales with low levels of debt will now be able to avoid bankruptcy, which can have a serious impact on future finances, as the Government has increased the minimum level of debt that can force people into this last resort option to £5,000 from £750.

Mortgage borrowers will get redress as a result of irresponsible lending after the City watchdog issued its first ever fine for this offence.

New measures to increase protection for vulnerable mortgage customers and to ensure repossession is always a last resort have been announced by the Government today.

Britain saw the largest rise in employment since records began in the three months to July as official figures today revealed 286,000 more people secured jobs.

The number of people losing their homes fell to its lowest level for more than two years during the second quarter of 2010.

Fewer people are expected to lose their homes this year after mortgage lenders today reported a decline in repossessions in the three months to June.

Thousands of mortgage holders are facing huge rises in their monthly repayments due to a banking error.

The Housing Minister has said schemes introduced by the previous Government to help homeowners struggling with their mortgage will be maintained for the next few months, despite public spending cuts.