Thousands of homeowners are to be warned by taxpayer-owned banks to forget renewing their subscription to Sky TV or buying a new iPhone and instead focus on paying their mortgage.
Santander has apologised for its abysmal service over recent months and has pledged to improve the customer experience for its 25 million account holders.
Former investors in nationalised lender Bradford & Bingley (B&B) should receive no compensation for their shares, the independent valuer of the stricken business has said.
Tens of thousands of homeowners with mortgages held by two Government-run banks will be able to switch lender without the usual four-figure exit penalties.
Mortgage lenders are hitting struggling borrowers with thousands of pounds of additional fees. Many are thought to be disguised, excessive and can be reclaimed.