MoneySavingExpert News

Loans

'Lifelong loans' to launch in 2025 to help those in England wanting to study, train or retrain later in life

People in England aged up to 60 who want to study, train or retrain will be able to access flexible student finance to help them do so from 2025, the Government has confirmed today.

7 March 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

High-cost credit firms SafetyNet and Tappily fall into administration – what it means for you

The firms have stopped taking on new customers – but there's no immediate change for existing borrowers. Here's what you need to know.

11 January 2023

Student loan interest rates to rise again for Plan 2 and Postgraduate borrowers from December – what it means for you

Student loan interest rates will rise for many next month. But this WON'T make a difference to your monthly repayments. Here's what you need to know.

10 November 2022

BrightHouse customer? Here are the latest need-to-knows following the rent-to-own firm's collapse

Customers of collapsed rent to own company BrightHouse are unlikely to get any money back after the firm's joint administrators said the cost of refunding people would "far exceed" the money available.

2 November 2022

Mis-sold an Amigo loan? Redress could soon be on its way after High Court approves complaints scheme

A compensation plan put forward by Amigo Loans to return at least £112 million to borrowers it wrongly mis-sold high-interest loans to has today (23 May) been approved by the High Court. The move is a significant win for borrowers and follows a previous proposal that was rejected by the Court.

17 October 2022

Treasury deletes tweet after Martin Lewis slams projected stamp duty savings as 'nonsense'

A tweet suggesting people could save £12,700 a year following the mini-budget has been removed by HM Treasury following a complaint from MoneySavingExpert.com (MSE) founder Martin Lewis.

3 October 2022

Iceland now offers interest-free loans if you're struggling with the cost of living - but be careful as they will impact your credit score

Iceland has begun offering interest-free loans of up to £100 to those struggling with the cost of living, with the money to be used on your Iceland shop. But - as with any borrowing for everyday living expenses - be careful as you may get stuck in a cycle of debt.

19 August 2022

Provident confirms payouts for borrowers – but they'll get back less than 10% of what they're owed

Provident borrowers who were mis-sold loans they couldn't afford will receive refunds of some of the interest and fees they were charged this July, it's been confirmed. But they'll get back less than 10% of what they're owed.

5 July 2022

New Government-backed interest-free loan scheme to be rolled out across the UK from September – here’s how it works

Vulnerable people who have been rejected from borrowing will apply to apply for a one-off no interest loan scheme (NILs) from September. The scheme aims to reach 20,000 struggling to pay off debt, with them being able to borrow anything from £100 to £2,000 – here’s how it’ll work.

23 June 2022