Over 10 million Barclaycard credit card customers will have their interest rates linked to the Bank of England base rate from February next year, while the same is also happening for some Lloyds Banking Group customers.
Around 125,000 mortgage and loan customers of Northern Rock Asset Management (NRAM) – the state-owned remnant of failed lender Northern Rock – will be transferred to US private investment firm Cerberus or to TSB Bank next year.
Interest rates may not rise until 2017 the Bank of England has suggested this month, but mortgage borrowers should still consider switching to a cheaper deal now, with rates near all-time lows.
Almost 4,000 borrowers are due a share of £1.7 million after CashEuroNet UK LLC, trading as QuickQuid and Pounds to Pocket, lent some customers more than they could afford to repay.
Worried former graduates whose loans are owned by Erudio have taken to our forum to raise questions about when their loans will be wiped, whether they can pay them off early, and the impact this will have on their credit files. We answer these questions below.
Millions of g raduates will pay less interest on their student loans from September, while more people with a pre-1998 mortgage-style loan will qualify to defer theirs from then too.
Five million NatWest and RBS customers will be automatically moved to new accounts in January paying well below the best buys, making it a key trigger for them to seek out a better deal.
8 September 2014
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