MoneySavingExpert News

Borrowing

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

Five major events set to impact your personal finances in 2022 - and what to do about them

From the reintroduction of costly European roaming charges to new rules around car and home insurance - here's a quick breakdown of five key events and changes that are set to impact your finances in early 2022 and, more importantly, what to do about them.

6 January 2022

Zopa to close ALL investor accounts - what this means for you

Zopa has this week closed all of its 60,000 existing investor accounts. If you're an investor, you'll be able to access your money by 31 January 2022 at the latest. If you're a borrower, nothing is changing and you should carry on with your repayments as normal.

8 December 2021

How to borrow at 0%, ie, no cost (or as close to it as possible) – Martin Lewis's cards, loans, buy-now pay-later and overdrafts masterclass

Borrowing is dirt cheap right now, with the cheapest ever loan rates, the longest 0% spending card we've seen since mid 2020, and many more best buys.

30 November 2021

Beware using Klarna's new 'pay now' service – you will lose vital Section 75 protection

Shoppers in the UK who use Klarna's new 'pay now' function will lose vital consumer protection that they'd get if they simply paid using a credit card instead.

18 October 2021