View more on these topics

Bid to break &#39unfair&#39 loans

Borrowers may be protected from “unfair” loan contracts if the Office of Fair Trading wins its High Court battle with First National, starting this week.

The OFT is claiming First National contracts are “unfair” because defaulting borrowers can continue to be hit by interest charges even after they have been taken to court.

The case follows an incident involving a couple who discovered the interest charges on their £4,500 loan continued to accumulate even after First National had taken them to court for defaulting on their loan repayments. The court order said they owed £5,686, but First National demanded £8,700.

But the bank is claiming its contract clauses can be found at many of the UK&#39s major lenders.


New pension misselling fears

A new pension scandal may be sparked off by the compensating of a woman after she was mis-sold a pension top-up scheme by Allied Dunbar.The Personal Investment Authority Ombudsman found against Allied Dunbar and awarded the woman a 25 per cent increase in her pension savings, the amount she is estimated to have lost by […]

Housebuyer fears for the future

More than half the UK population believe they won&#39t be able to afford their own home in twenty years, according to the National Housing Federation.The federation&#39s MORI poll of 2000 individuals showed only 44 per cent thought the next generation would be able to afford their current home.The news comes after the 0.25 per cent […]

Our mutual friend attracts growth

Mutual building societies&#39 performance in the savings market was up in December, according to the Building Societies Association.While actual net advances were down to £543m in December from £636m in November, the seasonally adjusted figure was the highest for six months.Building societies pulled in £471m from the savings market in December, up from £458m in […]

Woolwich mortgage moves

The Woolwich is launching a range of two year fixed rate mortgages.The new range includes a 6.39 per cent facility under its Open Plan flexible mortgage, plus a re-mortgage with a fixed rate of 6.69 per cent for 2 years, plus a 6.84 per cent deal under the Switch and Save re-mortgage.Borrowers who want to […]

Lifetime ISAs – International Evidence

By Fiona Tait, Pensions Specialist Since the announcement in March, the Lifetime ISA (LISA) has attracted controversy. Heralded as a saviour for the self-employed and the young wanting to get on the housing ladder, the new LISA risks adding confusion for savers trying to fully understand the benefits of new workplace pension savings through auto-enrolment. To […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm