MoneySavingExpert News
Loans

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

Buy now pay later regulation confirmed - but Martin Lewis warns that action is 'far too slow'
Plans on how buy now, pay later services will be regulated have today (20 June) been announced by the Government. But MoneySavingExpert.com (MSE) founder Martin Lewis warns that legislation is taking "far too long" to take force with borrowers being left unprotected during the cost of living crisis.
20 June 2022

Student loan interest rates to be capped at 7.3% from September
Student loan interest rates are set to rise from 4.5% to 7.3% for many from September, the Government has announced. The change will affect current students in England and Wales, as well as former students with outstanding loans who started university in/after 2012.
11 June 2022

Two in five borrow from credit cards, overdrafts or family and friends to pay off buy now, pay later purchases
More than half of 18 to 34-year-olds are borrowing money to help pay off their buy now, pay later debt (BNPL), according to research from charity Citizens Advice. If you're struggling to pay what you owe, we've things to try to see if they help.
8 June 2022

Klarna will NOW share your buy now, pay later borrowing data with Experian and TransUnion - here's what it means
From today, shoppers using Klarna's buy now, pay later (BNPL) services will have their repayment data shared with two of the UK's biggest credit reference agencies, so how you manage your repayments could affect your ability to get credit.
1 June 2022

Applying for a loan? Beware being asked to pay an upfront fee as Lloyds says scams have more than doubled
If you're applying for a loan, or have recently done so, beware being asked to pay an upfront fee in advance. The warning comes as fraudsters increasingly target people looking for financial help amid the cost-of-living crisis. Here's what to watch out for and what to do if you've been scammed.
30 May 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.
23 May 2022

Customers of collapsed rent-to-own firm BrightHouse unlikely to receive any form of refund - here are all the details
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.
16 May 2022

Amigo borrowers have until 5pm today to vote on their preferred mis-sold loans redress scheme
Thousands of Amigo borrowers who were mis-sold loans they couldn't afford are being given the opportunity to vote on two different redress schemes: one that will see borrowers get back an estimated 41p per £1 owed and allow the company to continue operating, and one that will see borrowers get back 33p per £1 owed but will result in the closure of the loans firm. Here's all you need to know.
10 May 2022

Bank of England increases base rate to 1% – what the rise means for your mortgage and savings
The Bank of England has increased base rates to 1% from 0.75% after the Monetary Policy Committee (MPC) voted in favour of a rise. The base rate is used by the central bank to charge other banks and lenders when they borrow money – and influences what borrowers pay and savers earn.
10 May 2022
22 June 2022
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Free lateral flow tests in Wales extended until 31 July for people showing signs of Covid
24 June 2022Free lateral flow tests in Wales will continue to be available for people showing Covid symptoms up until 30 July. -
Private parking charges to be halved to £50 - here are all the details
24 June 2022Private car park operators in England, Scotland and Wales will no longer be able to set fines above £50 in the majority of circumstances, under new rules set out by the Government. -
You've got 100 days to use paper £20 and £50 notes before they become unusable - so check your pockets and down the back of sofas now
23 June 2022Time is running out to check down the back of your sofa for any soon-to-be-discontinued paper £20 and £50 notes. There are only 100 days left before they become invalid but the latest figures from the Bank of England show there are almost £15 billion-worth of notes still around. -
New Government-backed interest-free loan scheme to be rolled out across the UK from September – here’s how it works
23 June 2022Vulnerable 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. -
Barclays to shut a further 15 bank branches this year - check if yours is closing and what your options are
23 June 2022Barclays has announced another round of bank branch closures, with 15 more outlets set to shut by the end of the year. The latest closures mean Barclays will close 55 branches by the end of the year. Below we list the branches disappearing and what the alternatives are if you still want face-to-face banking.
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Martin Lewis: The one thing everyone aged over 66 needs to know
17 June 2022It is a national tragedy that getting on for a million pensioners, many of whom have been paying into the system for years, are missing out on a critical boost to their income. It's called pension credit, and this year it also means you get an extra £650 to help with energy bills. -
Martin Lewis: What I asked the Chancellor to do when I spoke to him on Monday...
26 May 2022With the announcement of the Government's energy cost of living plans due out at lunchtime. I thought I'd speedily bash out a note down of what (from memory) I'd asked the Chancellor for when we spoke on Monday - and the other general suggestions I've been making. -
Martin Lewis: Got a cash ISA? You should probably ditch it
24 May 2022Press the rewind button and go way back to April 2015... Possibly on the telly in the corner of your living room, I was on-air at the time urging savers as usual to use their new tax-free cash ISA allowance – because 'money was nicer in an ISA'. But things changed in 2016. -
Martin Lewis: 'UO is just as important as UX: A tip for anyone developing their website or app'
6 May 2022I set up MoneySavingExpert.com nearly 20 years ago – when arguably the modern web was still in its infancy. With an abundance of self-belief (something I had too much of then, as I realise now) I decided not to read any books, or follow prevailing wisdom on how a site should operate – and just do it my way.