MoneySavingExpert News

Borrowing

Buy now, pay later regulation still urgently needed warns Martin Lewis – as report suggests vital new laws could be shelved

Plans to give buy now, pay later users much-needed new rights and protections should not be scrapped, MoneySavingExpert.com founder Martin Lewis has urged.

18 July 2023

Klarna to start charging fees if you miss a payment – here's what you need to know

Buy now, pay later provider Klarna will start charging borrowers who miss repayments fees of up to £5 from next month.

27 February 2023

Buy now, pay later regulation confirmed by Government – but vital protections still won't be in place for months

Draft laws which will bring buy now, pay later services into regulation and give borrowers crucial rights and protections, have been published by the Government.

14 February 2023

Barclaycard launches the market's longest 0% spending card in over two years - here's how it compares

Barclaycard has launched the longest 0% spending credit card we've seen since May 2020, giving some 25 months interest-free spending - though not all will get the headline rate. If you NEED to borrow, 0% spending cards are the cheapest way – here's how it compares.

6 July 2022

Buy now pay later regulation confirmed - but Martin Lewis warns that action is 'far too slow'

Plans on how buy now, pay later services will be regulated have today (20 June) been announced by the Government. But MoneySavingExpert.com (MSE) founder Martin Lewis warns that legislation is taking "far too long" to take force with borrowers being left unprotected during the cost of living crisis.

20 June 2022

Financial watchdog tells lenders to treat borrowers better as the cost of living crisis worsens - here's all you need to know

Lenders must make sure they're meeting customers' needs as more people are turning to borrowing as the cost of living rises, the Financial Conduct Authority (FCA) says. The regulator has written to 3,500 lenders to remind them of the standards they should meet.

16 June 2022

Two in five borrow from credit cards, overdrafts or family and friends to pay off buy now, pay later purchases

More than half of 18 to 34-year-olds are borrowing money to help pay off their buy now, pay later debt (BNPL), according to research from charity Citizens Advice. If you're struggling to pay what you owe, we've things to try to see if they help.

8 June 2022

Over 30,000 247MoneyBox borrowers to receive redress for mis-sold loans this week – but they’ll get back less than 10% of what they’re owed

Over 30,000 247MoneyBox borrowers, who were mis-sold payday loans they couldn't afford, are to receive refunds of some of the interest and fees they were charged by this Friday (15 April). But they'll get back less than 10% of what they are owed.

14 April 2022

Bank of England base rate jumps to 0.5% – what the rise means for you

The rate is used by the central bank to charge other banks and lenders when they borrow money – and influences what borrowers pay and savers earn.

15 February 2022

Martin's debt costs masterclass: Can't afford to clear your debt? You can't afford not to move it to up to 35mths at 0% saving £1,000s

So as it's January, we're in a cost of living crunch, and New Year debt bills are being received by millions, it's time for my annual interest-cutting masterclass.

18 January 2022