MoneySavingExpert News

Loans

Zopa to close ALL investor accounts - what this means for you

Zopa has this week closed all of its 60,000 existing investor accounts. If you're an investor, you'll be able to access your money by 31 January 2022 at the latest. If you're a borrower, nothing is changing and you should carry on with your repayments as normal.

8 December 2021

Over 78,000 QuickQuid borrowers expected to receive payouts after being mis-sold loans - but they'll only get back up to half of what they paid

Around 78,500 QuickQuid and Pounds to Pocket borrowers, who were mis-sold loans they couldn't afford, are expected to receive refunds of some of the interest and fees they were charged. But they'll only get back up to half of what they paid - and some will receive less than a third.

30 November 2021

How to borrow at 0%, ie, no cost (or as close to it as possible) – Martin Lewis's cards, loans, buy-now pay-later and overdrafts masterclass

Borrowing is dirt cheap right now, with the cheapest ever loan rates, the longest 0% spending card we've seen since mid 2020, and many more best buys.

30 November 2021

Student loan interest rates to drop for many next month and repayment thresholds to rise for some from April – what you need to know

Student loan interest rates will drop for many from September, the Department for Education has confirmed.

13 August 2021

Martin Lewis tells ministers it's time to stop hiding the student living loan parental contribution - parents should be told they may be expected to pay £1,000s

While tuition fees get all the column inches, the biggest practical problem most students face is hidden. The living loan and/ or grant students receive is slashed based on parental income but there's no warning this gap needs filling. Today, MoneySavingExpert founder Martin Lewis has written to ministers to urge them to stop hiding the university parental contributions built into the student finance system.

12 June 2021

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

Student loan interest rates are set to drop for many students from September.

23 April 2021

FCA raises concerns over Amigo’s proposed redress scheme but 'won’t take action to block it'

The financial watchdog does not support a redress scheme proposed by the guarantor loans sector's largest lender, Amigo Loans, it's been revealed. But the Financial Conduct Authority doesn't plan to take action to stop the scheme if it's agreed on by borrowers and sanctioned by the High Court

25 March 2021

Student loan repayments to drop for many Scots by £500/yr from April

Many Scots with student loans will see repayments drop sharply next month, as the income threshold at which student loans begin to be repaid will rise from £19,390 to £25,000. The change may mean you pay less in the long run too, as many with student loans won't finish paying them off before they're automatically wiped after 30 years, though others could accrue more interest - we've full analysis below

18 March 2021

Millions could be due £750 payout as landmark legal claim filed against Experian - what you need to know

A landmark legal claim launched against credit reference agency Experian could see 49.8 million adults in England and Wales in line for compensation worth £750 each if successful - although there are no guarantees. Here's what you need to know

1 March 2021

Ratesetter to close all investor accounts and move borrowers’ loans to Metro Bank

All 45,000 existing investor accounts will be closed on 2 April. Here's what the change means for investors and borrowers alike.

3 February 2021