MSE News

Loans

Peer-to-peer lenders told to clean up poor practices or face crackdown

The financial regulator has sent a seven-page letter to peer-to-peer lending firms warning them the industry must clean up poor practices or face a "strong and rapid" crackdown

27 September 2019

'I reclaimed over £4,000 for mis-sold payday loans using MSE's tool'

A MoneySaver from Cheshire has claimed back over £4,000 using MoneySavingExpert.com's payday loan reclaiming tool after having her borrowing extended several times without additional checks on whether she could afford it - and she's hoping to get more cash back from other lenders

22 August 2019

Student loan repayment thresholds to rise from next April – what you need to know

Student loan repayment thresholds for most borrowers will rise by hundreds of pounds next April

8 August 2019

'Buy now, pay later' firms banned from backdating interest on money you've already repaid

Firms which offer 'buy now, pay later' deals won't be able to charge backdated interest on money that's already been repaid, under new rules the financial regulator says will come into effect from November

12 June 2019

Student loan interest rates set to drop in September – what you need to know

Student loan interest rates are set to drop in September. Current students from England and Wales will almost certainly see the rate drop from 6.3% to 5.4% - and many former students with outstanding loans will see their rates dip too

17 April 2019

Hurrah! Student loan accounts to be updated weekly

The amount of interest you're paying on your student loan should become clearer, and you should be less likely to overpay, after HMRC and the Student Loans Company started sharing data on a weekly basis.

11 April 2019

Mis-sold customers of Wage Day Advance and Juo Loans won't be given full compensation

Administrators for payday loan providers Wage Day Advance and Juo Loans, which collapsed in February, have admitted that customers who are owed compensation will only receive a "partial payment" for their claims

3 April 2019

Number of Wonga compensation claimants 'four times the figure expected'

The number of people affected could be over 40,000, though initial estimates suggested a figure closer to 10,000

12 March 2019

Study reveals slick tricks payday loan websites use to entice borrowers

New academic research has revealed the tricks of the trade used in the high-cost credit industry

7 March 2019

Cost of buying washing machines, fridges etc via pricey 'rent-to-own' firms to be capped

Vulnerable customers who use rent-to-own firms will not pay more in interest than the cost of the original item from April, as part of new rules announced by the financial regulator today

5 March 2019

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