Archive for the ‘Creditor Behaviour’ Category

TweetShareProposals which will establish draft regulations for the Consumer Credit Directive could help protect people from bad practice on the part of creditors, one expert has suggested. Under the new plans, lenders must ensure individuals are fully aware of the terms and conditions of financial products, as well as doing comprehensive credit checks on potential [...]

TweetShareMortgage providers may be causing confusion for prospective homeowners by rapidly withdrawing new products from the market, one expert has suggested. Peter Cowell, broker at Click n go Mortgages, said the average shelf life of a mortgage offer is reducing because lenders do not want to expose themselves to unnecessary risk. He remarked: “The detrimental [...]

TweetShareIf the banking system returns to its previous methods of operation the recession has taught Britain nothing, one expert has suggested. UK Financial Investments Limited (UKFI), which has been tasked with managing the government’s stakes in Royal Bank of Scotland and Lloyds, has released a report outlining its intention to return the financial institutions to [...]

TweetShareBritish consumers are still being hit by hundreds of millions of pounds worth of credit card charges as the government’s plans to help people with their debts fail to have the desired impact. That is according to a new report from uSwitch, which has warned that UK consumers are paying a collective £864 million a [...]

TweetSharePeople may be having trouble obtaining finance for a home because there is not enough competition between providers, one expert has suggested. Director of the Association of Mortgage Intermediaries (AMI) Robert Sinclair called current conditions in which a small number of operators control the majority of the sector “bad news”. He said: “We need to [...]

TweetShareCredit card firms that are guiding people towards retailers when making insurance claims are misleading them, one expert has said. Senior researcher Martyn Saville at consumer help agency Which? said that customers have an equal right to demand a payout from suppliers or credit card issuers. He said: “Because you’ve got a choice of going [...]