MSE News

Loans

Student Loans Company's new 'quick repayment' tool is dangerous and irresponsible, says Martin Lewis

MoneySavingExpert.com is today slamming "irresponsible and dangerous" changes made by the Student Loans Company to its website, which fly in the face of evidence and recommendations presented to both it and the Government

10 August 2020

High-cost credit firms rapped for suggesting customers borrow more to fund 'exotic' holidays

Some high-cost credit firms are allowing repeated borrowing which puts consumers at risk of building up high levels of debt, and using marketing messages that suggest customers can borrow extra money in order to fund exotic holidays, a review by the financial regulator has found

6 August 2020

Regulator to ban interest rate-linked car finance commission

The financial regulator has announced it will ban commission models that give car finance dealers an incentive to raise customers’ costs from next year

28 July 2020

Car finance and high-cost credit payment holidays extended

The financial regulator has confirmed further measures to support borrowers struggling to make payments on car finance deals, buy-now-pay-later agreements and other credit products due to the coronavirus pandemic, with many able to get another three-month payment holiday if needed

15 July 2020

Tide halts bounce back loan lending, leaving 10,000s stuck on its waiting list

Business banking fintech firm Tide has stopped offering bounce back loans and has closed its waiting list to new borrowers after failing to secure funding to support its lending

8 July 2020

Car finance and high-cost credit payment holidays set to be extended

The financial regulator has proposed further measures to support borrowers struggling to make payments on car finance deals, buy-now-pay-later agreements and other credit products due to the coronavirus pandemic, with many set to be offered another three-month payment holiday if needed

3 July 2020

Bounce Back Loan MSE Survey results: HSBC & Tide worst service + new customers & sole traders struggle + delays common

Substantial numbers of bounce back loan applicants suffer delays, rejections and credit checks, a MoneySavingExpert.com survey of more than 5,000 small business applicants has found

30 June 2020

Payday lender Sunny goes into administration

Payday loan provider Sunny has collapsed into administration and will no longer be offering new loans

29 June 2020

MSE to refer Starling bounce back loan complaints to regulator

MoneySavingExpert.com is to ask the financial regulator to investigate after receiving scores of complaints from sole traders who've been rejected for 'bounce back loans' with challenger bank Starling

2 June 2020

Mis-sold Wage Day Advance payday loan customers will get back less than 6% of compensation claims

Compensation will be just 5.68p in every £1 as administrator KPMG says there's no more money available for claims

22 May 2020

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