Topic filter : Repayment

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....Only if the student lands a job earning £40,000 a year on graduation, and then enjoys big pay rises after, should they consider repaying their loan early, said Lewis. A graduate earning £36,000 a year will repay £40,500 of a £55,000 total student loan over 30 years, said Lewis, at the current repayment rates. ... [Read full article on Guardian ]
Monday 17th of July 2017 02:40:16 PM
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.... That is hardly surprising given the increase in housing investment in that period. The massive boom in prices has seen median house prices in Sydney increase by around 60% in the five years from 2011 to 2016 and the cost of mortgage repayments on such loans increase by 30% despite falling interest rates. ... [Read full article on Guardian ]
Tuesday 18th of July 2017 12:42:11 AM
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....1% from this September (RPI + 3% for those on salaries of £41,000 or over) is out of touch with commercial lending rates, and very high compared with the rates at which the government can borrow. “The £21,000 repayment threshold could also be reconsidered. ... [Read full article on Guardian ]
Tuesday 18th of July 2017 05:40:15 PM
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Latest Finance News related to Repayment

Russell Group urges rethink on student loan interest rate image
Source : Guardian [Read Article] Tuesday 18th of July 2017 05:40:15 PM
....1% from this September (RPI + 3% for those on salaries of £41,000 or over) is out of touch with commercial lending rates, and very high compared with the rates at which the government can borrow. “The £21,000 repayment threshold could also be reconsidered. ...
If home ownership continues to shrink, the retirement system is in trouble | Greg Jericho image
.... That is hardly surprising given the increase in housing investment in that period. The massive boom in prices has seen median house prices in Sydney increase by around 60% in the five years from 2011 to 2016 and the cost of mortgage repayments on such loans increase by 30% despite falling interest rates. ...
UK students should not try to pay off loans early, research suggests image
Source : Guardian [Read Article] Monday 17th of July 2017 02:40:16 PM
....Only if the student lands a job earning £40,000 a year on graduation, and then enjoys big pay rises after, should they consider repaying their loan early, said Lewis. A graduate earning £36,000 a year will repay £40,500 of a £55,000 total student loan over 30 years, said Lewis, at the current repayment rates. ...
Is paying off the mortgage a better bet than saving? image
Source : Guardian [Read Article] Thursday 13th of July 2017 06:00:00 AM
....So your instinct to use your money to pay off a large part of your mortgage is a good one, as the interest you save on your mortgage payments is likely to be a lot more than the interest you are earning on your cash, which at best could be in the region of 1%. Next time you switch mortgage deals, as well as paying off part of your mortgage you might also want to consider changing from an interest-only deal to a repayment one, so it is guaranteed to be paid off in full in 12 years’ time. ...
Big Six energy companies switch: Leave pricey legacy tariffs behind image
Source : Daily Express [Read Article] Wednesday 12th of July 2017 10:31:00 AM
....com. Households who pay by direct debit should avoid the risk of overdue payments, but one in four pay by another method, either through online payment, prepayment meter, at the bank, or by phone. ...
Bank of England warns it will go after firms looking to mask risks image
Source : Guardian [Read Article] Monday 10th of July 2017 04:03:22 PM
.... Here, he said, the Bank had noted that mortgage terms were extending from 25 year to 35 years – or even longer. While that makes monthly repayments lower it means the total interest is higher, with final amounts due when the customer may have retired. ...
Hold the Shard-enfreude – a house price drop is not about to happen | Patrick Collinson image
.... The twin horsemen of the property apocalypse are called unemployment and interest rates. A steep rise in joblessness automatically translates into arrears and repossessions, as households fall behind with repayments. ...
Equity release rates fall: Homeowners paying off interest-only mortgages could save image
....82 per cent. Many homeowners turn to equity release to pay off interest-only mortgages, after finding it difficult to take out a capital repayment mortgage, separate research has recently suggested. ...
Decade in the doldrums for hard-hit savers as low interest rates remain the same image
....”. Low rates are making life even harder for young people too with Elliott Silk, head of commercial at wealth managers Sanlam, saying that many are walking into a “retirement black hole”: “Sky-high rent, living costs and student loan repayments are also having a detrimental impact on their ability to think about longer term saving. ...
Poorest students will finish university with £57,000 debt, says IFS image
Source : Guardian [Read Article] Tuesday 4th of July 2017 11:01:12 PM
....Gordon Marsden, Labour’s shadow higher education spokesman, said the IFS study made a nonsense of the government’s defence of the current system. “From scrapping the maintenance grant to freezing the repayment threshold [at which students start repaying their loans], this government has focused on increasing the debt burden of students from disadvantaged backgrounds,” Marsden said. ...
Mortgage-seekers ignoring extra fees, says Moneyfacts image
Source : BBC [Read Article] Monday 3rd of July 2017 12:33:38 PM
.... Therefore, with fees on the rise, it is more important than ever for borrowers to consider the true cost of a mortgage before obtaining a deal," said Charlotte Nelson, of Moneyfacts. "Deals with larger fees often allow you to add the fee to the mortgage advance, however, this increases the amount borrowed, pushing up monthly repayments. ...
Millions betrayed by Tories’ energy price cap U-turn, says Labour image
....Instead, the business secretary, Greg Clark, wrote to the energy regulator asking it to safeguard “customers on the poorest value tariffs”. In response, Ofgem said on Monday that it would hold a summit in July to consider what form of “safeguard tariff” would be best, with one option being to extend an existing cap for the 4m households on prepayment meters to a further 2. ...
China's $9tn bond market opens up to foreign investors image
Source : BBC [Read Article] Monday 3rd of July 2017 09:05:02 AM
....Bonds are glorified IOUs, typically sold by governments and companies to raise cash. Their attraction to investors is that they usually offer a fixed rate of interest and come with the promise of eventual full repayment when the bond expires. ...
Trouble in the Dales as holiday homes become the new buy-to-let image
Source : Guardian [Read Article] Saturday 1st of July 2017 06:00:06 AM
....The tax treatment of furnished holiday lets is startlingly generous. If you buy a property and let it out for holiday use, you can still set your full mortgage interest repayments against tax, unlike under the rules that have hit buy-to-let. ...
Should we use the London help-to-buy scheme to purchase a home? image
Source : Guardian [Read Article] Thursday 29th of June 2017 06:00:15 AM
.... I’m familiar with the pros and cons of the scheme, and I’m aware that the government would own 40% of the property equity, which needs to be paid back at the end of the five-year term. My question is whether we are better off going for it and using the benefit of 40% of the property not being owned, and making the most of a lower rate mortgage on the remaining 60% but hammering the repayments. ...
Older homeowners forced to sell properties to clear debt on mortgages image
Source : Daily Express [Read Article] Wednesday 28th of June 2017 08:25:00 AM
....Forced out. Some 43 per cent of estate agents have seen a rise in “forced” sales from customers with interestonly mortgage repayment problems over the past two years, according to new research from Key Partnerships. ...
Endowment plan: Need-to-know advice on interest-only mortgage repayment problems image
....Forced out. Some 43 per cent of estate agents have seen a rise in “forced” sales from customers with interest-only mortgage repayment problems over the past two years, according to new research from Key Partnerships. ...
Many Britons are hooked on costly credit. Here’s what the new minister should do | Rowena Young image
....Today, less than half of UK adults report being able to keep up with bills without difficulty, while just under a quarter manage to get from one month to the next only by rolling over their credit card balances or other form of high-cost credit. One in six can’t afford to make the repayments on money they owe after meeting household expenses and 83% of people in debt simply do not get the advice and support they need. ...
Tory pledge to cap energy bills missing from Queen's speech image
Source : Guardian [Read Article] Wednesday 21st of June 2017 03:57:48 PM
....The prime minister had pledged to cap bills for 17 million families on the worst-value energy tariffs, but the plan was missing from the Queen’s speech and No 10 would not confirm a cap would go ahead. Instead, the government looks likely to extend an existing ceiling on bills for 4m households on prepayment meters to a further 2. ...
Energy price cap likely to go ahead despite warnings of 'timebomb' image
Source : Guardian [Read Article] Monday 19th of June 2017 03:36:14 PM
....Although industry figures show 440,000 people switched supplier in May – up 19% on May 2016 – nearly 5m households in England have not switched supplier for a decade. Citizens Advice favours widening an existing cap for the 4m households on prepayment meters to a further 2. ...
Is Booking.com breaking its ‘free cancellation’ pledge? image
Source : Guardian [Read Article] Sunday 18th of June 2017 06:00:04 AM
.... “We wanted free cancellation as we were visiting a sick friend and needed to be flexible. It clearly stated that we could cancel up to the day before arrival, and that there would be no prepayment. ...
Debt bubble returns millions to days of 2008 crash image
Source : Guardian [Read Article] Saturday 17th of June 2017 11:05:51 PM
....Last week the Bank of England’s monetary policy committee left interest rates on hold but it took City analysts by surprise because three of the eight committee members wanted to raise them. Analysts had expected only one member to vote for a rise, which would push up the costs of mortgages and other credit for many borrowers and could lead to further repayment problems. ...
Buying my own place was an impossible dream – here’s how it came true image
....For starters, the average deposit for first-time buyers in London has jumped 276% in the past decade to a staggering £100,445, according to the Halifax. I did explore shared ownership, but I found many of the schemes insanely competitive and only available to people on much higher salaries, while service charges were steep, culminating in mortgage repayments plus rent settling in at about £1,500 a month. ...
Creditors agree terms to disburse Greece's €8.5bn bailout funds image
Source : Guardian [Read Article] Friday 16th of June 2017 12:05:16 AM
....Around €7. 4bn will be initially disbursed so that Greece can honour debt repayments that mature mostly to the European Central Bank. ...
Greek bailout funds on the cards as creditors narrow differences image
Source : Guardian [Read Article] Thursday 15th of June 2017 05:25:49 PM
....5bn (£7. 4bn) from the Greek €86bn bailout fund to help Athens make a repayment due in July, although specifics on long-term debt relief are likely to be fudged. ...
UK student loan debt soars to more than £100bn image
Source : Guardian [Read Article] Thursday 15th of June 2017 11:12:28 AM
.... But average debt at graduation was $34,000 (£27,000), less than for UK graduates. Loan repayments in the UK are dependent on graduates’ income once they start working, with those earning more than £21,000 a year required to pay. ...
Theresa May is warned: don't break election vow on energy price cap image
Source : Guardian [Read Article] Wednesday 14th of June 2017 05:33:11 PM
....May has warned of some form of intervention in the energy market since last October, but the issue came to a head in the past few months after five of the big six suppliers hiked their prices, some by nearly 10%. Consumer charities said the government should extend the price cap for the 4m households on prepayment meters to a further 2. ...
Election 2017: What now for your finances? image
Source : BBC [Read Article] Friday 9th of June 2017 09:06:04 AM
.... A starting date should also be given for a ban on lettings agent fees, cutting upfront costs for those looking to rent a home. People facing serious debts should get a legal right to "breathing space", mirroring the Scottish system in which borrowers can apply to have six weeks free from further interest, charges or debt collection to get debt advice and set up a repayment plan. ...
BA delays: Automatic compensation urged by consumer group image
Source : BBC [Read Article] Friday 2nd of June 2017 11:41:04 PM
....Virgin became the first rail company to automatically compensate some train passengers if they are delayed. Travellers using its services on the West Coast main line - and who book their tickets via the company app or website - receive automatic repayments. ...
Greece warns recovery threatened if debt deal is blocked at next talks image
....With £7. 5bn in debt repayments due in July and lenders meeting on 15 June to try and reach an agreement after failing last month, Euclid Tsakalotos made an urgent appeal for clarity on Monday. ...
Greek minister warns 'no excuses' on bailout deal image
Source : BBC [Read Article] Monday 29th of May 2017 06:28:57 PM
....3bn) loan plus debt relief. The cash is vital for Greece to avoid defaulting on a debt repayment due in July. ...
Brighter skies over eurozone as growth and employment pick up image
Source : Guardian [Read Article] Saturday 27th of May 2017 03:00:30 PM
....Greece has the highest unemployment and youth unemployment in the eurozone, and households have been hurt by austerity policies pushed through to appease international creditors. More recently, sentiment has been hit by uncertainty about Athens’s ability to afford loan repayments that fall due in July after eurozone finance ministers meeting this month failed to agree a deal to unlock a tranche of bailout funds for Greece. ...
Trapped in debt image
Source : BBC [Read Article] Thursday 25th of May 2017 11:21:21 PM
....The island's total debt stands at $64bn. About 95% of all government revenues go towards debt repayment. ...
What's the best way of paying off my interest-only mortgage? image
Source : Guardian [Read Article] Thursday 25th of May 2017 06:00:21 AM
.... The lender has informed me that I have five years left to settle this balance and that I need to discuss my options for repaying the mortgage. The options are reviewing the performance of any repayment strategy with a financial adviser; extending the term of the loan to match my repayment strategy; or changing the mortgage so I repay some capital as well as interest (at a rate of 3. ...
No bailout funds for Greece as eurozone finance chiefs fail to agree deal image
. Eurozone finance ministers have failed to agree a debt relief plan for Greece, raising the prospect of a summer crisis for the single currency bloc if Athens misses a loan repayment. ...
Greece fails to secure fresh bailout funds image
Source : BBC [Read Article] Monday 22nd of May 2017 11:40:41 PM
....3bn) loan plus debt relief. The cash is vital for Greece to avoid defaulting on a debt repayment due in July. ...
Debt fears remain despite manifesto 'breathing space' plans image
Source : BBC [Read Article] Monday 22nd of May 2017 11:24:11 PM
....People in serious debt can expect more legal protection from bailiffs, charges and interest after pledges in the major parties' manifestos. The Conservatives and Labour have vowed to extend a "breathing space" scheme used in Scotland to allow people time to organise repayments. ...
Big energy firms lobby Theresa May to water down price cap pledge image
Source : Guardian [Read Article] Monday 22nd of May 2017 03:23:19 PM
.... But under a compromise that has been put to the government, only 6m households would have their energy bills capped. Under the plan, an existing cap for 4m households on prepayment meters – mostly more vulnerable customers – would be extended to a further 2m homes that already receive a £140 discount on their electricity bills, the Warm Home Discount. ...
Five minute guide to investing in the UK's big banks image
Source : Daily Express [Read Article] Sunday 21st of May 2017 12:01:00 AM
....The state still holds a 72 per cent stake in RBS, which Hammond recently admitted may have to be sold off at a loss. The Government has so far clawed back £8billion in fees and repayments, but Mould says: “At today’s price of 263p a share our RBS stake is worth just over £22billion, nowhere near enough to get a full return. ...
Mine craft: why BHP's strategic overhaul could help repel a hedge fund predator image
.... For good measure he added that taking the “original big Australian” offshore could lead to legal action against executives as it would contravene the terms of the 2001 merger. Morrison’s comments were telling and reveal that Elliott, which once seized an Argentinian warship to extract debt repayment from the Buenos Aires government, may have underestimated the attachment Australians feel towards its corporate champions. ...
RBS settlement has left business couple feeling 'gutted' image
Source : BBC [Read Article] Thursday 18th of May 2017 01:48:53 PM
.... . That year they took on an insurance product called an interest rate swap that was designed to protect against the impact of rising rates on their repayments. ...
What's the best way to release equity for home improvements? image
Source : Guardian [Read Article] Thursday 18th of May 2017 06:00:18 AM
.... You can typically borrow up to 60% of the value of your home and release the money as one large lump sum or as several smaller amounts. As with a normal mortgage, interest is charged on the amount you borrow, but unlike a normal mortgage you can choose not to make monthly repayments and allow the interest to be rolled up, which means it is added to the loan. ...
Ex-BHS owner Dominic Chappell could be pursued by Sir Philip Green for millions image
....8m payment from BHS to RAL which went straight to its directors including Chappell. The documents outline how RAL then charged BHS quarterly management fees, which exactly matched the amounts owed in repayments on the £6. ...
Pay off your mortgage FASTER: Save thousands of pounds with this trick image
Source : Daily Express [Read Article] Saturday 13th of May 2017 01:34:00 PM
. Lenders are competing to offer lower rates, which are fixed for longer, slashing loan repayments for borrowers. ...
How YOU can get up to £2,500 cashback from your mortgage  image
Source : Daily Express [Read Article] Thursday 11th of May 2017 03:59:00 PM
.... However, the deal comes with a £790 fee, which cancels out all but £210 of the cashback. It means borrowers need to look carefully at the overall cost of the mortgage, including repayments, fees and cashback to decide if it is good value. ...
REVEALED: How many interest-only borrowers are paying off their mortgage image
Source : Daily Express [Read Article] Wednesday 10th of May 2017 11:05:00 AM
. Many borrowers have little option but to turn to equity release after being refused capital repayment mortgages by lenders. ...
Australia budget 2017: Treasurer unveils big banks tax image
Source : BBC [Read Article] Tuesday 9th of May 2017 12:13:11 PM
....But the government had already announced key aspects of the budget, including building a second Sydney airport, increasing university fees by 7. 5% by 2021, and lowering the salary threshold for university debt repayments from A$55,000 to A$42,000. ...
Tory energy pledge: May says she still believes in free market despite vow image
.... The minority report felt this was not going to remove that detriment to consumers quickly enough. We are taking the same approach that the CMA [did] to prepayment meters, but doing what the minority report said. ...
Bank of Mum and Dad is a major financial player - but could it be about to go bust? image
....75 per cent. Parents can access their money after three years, but Barclays reserves the right to hold on to it if the child has fallen behind with their mortgage repayments. ...
THESE credit cards can help YOU improve your credit rating image
Source : Daily Express [Read Article] Saturday 6th of May 2017 05:04:00 PM
. A damaged track record of borrowing, such as failing to make repayments, can drastically affect the chances of being approved for a mortgage and other forms of credit in the future. ...
Mortgage price war: HSBC five-year fix ramps up competition as borrowers urged to switch image
....14 per cent with a fee of £995 for borrowers with equity of 20 per cent (80 per cent Loan To Value), with a fee of £995. Borrowers are in the position to take advantage of some of the best ever deals to bring down their repayments even further. ...
Does Federal Reserve monetary policy affect your US mortgage? image
Source : Daily Express [Read Article] Thursday 4th of May 2017 01:22:00 PM
....And if you took out a mortgage in the US to fund your property purchase there, the direction interest rates take could will also be of interest. With the Federal Open Market Committee (FOMC) - the group of Fed policymakers responsible for setting interest rates - having elected to keep interest rates on hold, your mortgage or loan repayments are unlikely to have risen. ...
We're buying as tenants in common – but what if we split up? image
Source : Guardian [Read Article] Thursday 4th of May 2017 06:00:01 AM
....A It is sensible of you to have a deed of trust drawn up so that you can set out, among other things, what share each person owns, who is responsible for paying what and the procedure that should be followed when one or more of the joint owners want to go their separate ways. Having a deed of trust is especially important when, as in your case, each person is contributing differing amounts to the deposit, buying costs or mortgage repayments. ...
How ‘Bank of Mum and Dad’ can help children buy home WITHOUT having to hand over cash image
...."Barclays Springboard Mortgage allows children to buy a home without a deposit, as long as parents are willing to hand over 10 per cent of the property value and keep it in savings for three years. The money is returned after this time as long as monthly mortgage repayments are upheld. ...
Wealthy feel pinch of housing costs as one in four Australians face mortgage stress image
....The burden of housing costs is biting even in Australia’s wealthiest suburbs as an unprecedented one in four households nationally face mortgage stress, according to the latest in a 15-year series of analyses. Households in Toorak and Bondi, prestigious pockets of affluence in Australia’s biggest cities, have made the list of those struggling to meet repayments amid rising costs and stagnating wages, research firm Digital Finance Analytics has found. ...
Greece makes preliminary agreement with creditors image
Source : BBC [Read Article] Tuesday 2nd of May 2017 11:41:08 AM
.... But it won't be in the form of a reduction of the principal sum that Greece owes. It will be measures that effect the interest payments and the repayment period. ...
Parents '10th biggest mortgage lender' image
Source : BBC [Read Article] Tuesday 2nd of May 2017 09:52:41 AM
.... It would still count as part of the giver's estate. And if the Bank of Mum and Dad demanded regular repayments, the mortgage lender might take fright and cut the maximum mortgage loan being offered. ...
Greece reaches deal with creditors to pave way for bailout talks image
Source : Guardian [Read Article] Tuesday 2nd of May 2017 04:59:34 AM
....Tsakalotos added he was “certain” that the agreement would enable Greece to secure debt relief measures from its creditors, which he has said is vital to spearhead recovery in the country’s struggling economy. A compromise is required to unblock a tranche of loans Greece needs for debt repayments of €7bn ($7. ...
Debt-ridden courier's suicide after bailiff visit prompts call for reforms image
....Tracey Rogers said she felt Jerome’s inability to clear his debt to Camden council and the stress of the bailiff’s visits were the main factor in his suicide. “We are shocked that bailiffs have the power to seize people’s tools of trade, which will prevent them from working and earning the money to pay off their debt and that they can enforce unfeasible repayment plans,” she said. ...
German finance minister hails progress in Greek economic reforms image
Source : Guardian [Read Article] Sunday 30th of April 2017 04:21:39 PM
....Wolfgang Schäuble, who recently said Greece must implement unpopular economic reforms or leave the eurozone, appeared to soften his tone in an interview published over the weekend. He implied that a review into Greece’s compliance with reform demands was progressing and could pave the way for the release of more bailout funds that are badly needed to help Athens meet debt repayments due in July. ...
As first-time buyers, can we take out a buy-to-let mortgage? image
Source : Guardian [Read Article] Thursday 27th of April 2017 06:00:09 AM
.... Having a relatively small mortgage also works in your favour in relation to the “rental coverage” stress test that lenders have to apply when assessing applications. This means lenders expect the rental income you get from a rental property to cover the monthly mortgage repayments by 145%. ...
Millions rethink their investment plans and move away from buy-to-let property image
Source : Daily Express [Read Article] Wednesday 26th of April 2017 12:01:00 AM
....This added £7,500 to the cost of buying a £250,000 house, while Osborne also removed the landlord wear-and-tear allowances. Higher rate tax relief on mortgage interest repayments is being steadily phased out from this month, costing some investors many thousands more every year. ...
Energy bills: what's the difference between Tory cap and Miliband freeze? image
....The work and pensions secretary, Damian Green, suggested such a move would save an average family around £100 a year. That would bring the standard dual fuel tariff for EDF, which has announced two price hikes in four months, down to £1,060, or pretty much in line with a £1,067 cap introduced on 1 April for households on prepayment meters, who are usually more vulnerable customers. ...
‘Modest’ interest rate rise on cards, says Bank of England expert image
Source : Daily Express [Read Article] Friday 21st of April 2017 08:49:00 PM
.... . Homeowners who have enjoyed cheap mortgage deals since 2009 could struggle if their monthly repayments go up. ...
Lloyds bank bailout repaid in full, says Philip Hammond image
Source : Guardian [Read Article] Friday 21st of April 2017 05:00:20 PM
....Even so, it has taken much longer than expected during the financial crisis and has only been possible because Hammond was able to sanction the recent sales at a loss because of profits made from earlier transactions when the share price was higher. The repayment has not been achieved in the way Hammond’s predecessor, George Osborne, envisaged. ...
UK bank launches cheapest ever mortgage rate at 0.89% but there's a MAJOR catch image
....85 per cent for two years. Aside from the hefty lump sum to secure it, there is a chance the SVR could rise which could leave borrowers at risk from higher repayments. ...
Presidential challenge image
Source : BBC [Read Article] Thursday 20th of April 2017 03:10:40 PM
....It's true the government's borrowing costs are not high. One widely used measure is the yield or return in the financial market on government bonds or debt due for repayment in 10 years. ...
Big six energy firms braced for government price crackdown image
Source : Guardian [Read Article] Monday 17th of April 2017 03:43:01 PM
.... But officials are thought to have cooled on the idea and an absolute price cap on standard tariffs is thought more likely. Any such ceiling will be above a recent cap brought in by Ofgem for homes on prepayment meters, usually used by more vulnerable customers. ...
Batten down the hatches! Rising inflation and low wage growth are pinching the consumer image
....” . Andy Knee, chief executive of conveyancing company LMS, says that despite mortgage rates also being at historic lows, servicing the loan is an increasing burden: “In January, the repayment as a percentage of total income rose month-on-month from 16. ...
Students face sharp rise in interest on tuition loans image
Source : BBC [Read Article] Wednesday 12th of April 2017 11:02:18 AM
....There has been increasing attention paid to the level of interest charged on student loans. The Intergenerational Foundation think tank has highlighted that while the focus has been on the headline tuition fee, the amount that it actually costs students in repayments including interest charges will often be much higher. ...
Property’s equity can help your loved ones image
Source : Daily Express [Read Article] Sunday 9th of April 2017 12:01:00 AM
....Nigel Waterson, chairman of the Equity Release Council, says lending topped £2 billion last year for the first time ever as innovative, flexible products encourage more people to use their property wealth in retirement: “Customers can now ring-fence a percentage of their equity to leave as an inheritance. “They also have the free dom to make interest repayments on their loan, if they choose. ...
Greek gloom as economy stalls amid latest bout of EU wrangling image
Source : Guardian [Read Article] Saturday 8th of April 2017 03:00:05 PM
....Massed before parliament in the fading light of day, they did what they had come to do: rail against the cuts that loom in return for further disbursement of the emergency aid now needed to avert economic collapse. The serial drama of Greece’s debt repayments will reach a climax again when loans of €7. ...
Are the wheels about to fall off the credit gravy train? image
Source : Guardian [Read Article] Saturday 8th of April 2017 03:00:05 PM
....3 million people had fallen into a persistent debt spiral, where all their money goes on interest and the total debt is never lowered. It said charges could be eased or withdrawn if customers could not afford a repayment plan. ...
Lloyds expects payouts to HBOS fraud victims to total £100m image
Source : Guardian [Read Article] Friday 7th of April 2017 08:16:49 AM
....The lender said that it will pay compensation for “economic losses, distress and inconvenience” as part of a package of measures to assist victims. This includes providing interim payments on a case-by-case basis to help those in day-to-day financial difficulty as a result of the fraud, covering “reasonable” fees for professional advice to customers and writing off remaining business and personal debts owed to Lloyds, and not pursuing repayment. ...
£100MILLION - that's how much Lloyds expects to pay out in fraud compensation image
....The lender said that it will pay compensation for "economic losses, distress and inconvenience" as part of a package of measures to assist victims. This includes providing interim payments on a case-by-case basis to help those in day-to-day financial difficulty as a result of the fraud, covering "reasonable" fees for professional advice to customers and writing off remaining business and personal debts owed to Lloyds and not pursuing repayment. ...
The Guardian view on rising personal debt: more prudence please | Editorial image
.... Customers who get into persistent debt tend, after all, to be very profitable for credit card and loan companies. Rather than help people struggling with repayments, it is in their interests to offer products that encourage consumers to use credit cards as an expensive form of long-term borrowing. ...

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