Amigo Loans heading for crunch court decision that could tip lender into administration, leaving 700,000 borrowers without compensation By Emma Dunkley, Financial Mail On Sunday Published: 21:50 GMT, 20 March 2021 | Updated: 22:47 GMT, 20 March 2021 Amigo Loans is heading for a crunch court decision that could tip the lender into administration, leaving … Read more
Thousands of Britons are complaining to the Financial Ombudsman Service about being mis-sold unaffordable guarantor loans, new figures reveal, as Payment Protection Insurance was finally dethroned as the most complained about financial product. Complaints about PPI numbered 6,679, meaning it was not the most complained about product in a three-month period for the first time … Read more
A mortgage guarantee scheme to help thousands of young people onto the property ladder with small deposits is set to feature in next week’s Budget. Chancellor Rishi Sunak plans to incentivise lenders to provide mortgages to first time buyers, and current homeowners, with just 5 per cent deposits to buy properties worth up to £600,000. … Read more
Business chiefs warn Rishi Sunak one in four firms will make staff redundant if he does not extend furlough as they warn ‘pulling the plug’ now would be a ‘huge mistake’ because lockdown finishing line is now ‘within sight’ Furlough scheme is due to end in April and loan schemes closing end of March Business … Read more
More than 1.4m firms are given more time to repay Covid ‘bounce back’ loans over default fears Chancellor Rishi Sunak is expected to announce a ‘pay as you grow’ scheme Almost £4.5billion has been loaned under the Government scheme so far New measures will allow businesses to extend loan terms from six to ten years … Read more
Amigo Loans plots new scheme to pay off customers in last ditch bid to stay afloat By Daily Mail City & Finance Reporter Published: 21:51 GMT, 25 January 2021 | Updated: 21:51 GMT, 25 January 2021 Amigo Loans has launched a last-ditch attempt to stay afloat following a wave of customer complaints. The controversial guarantor … Read more
Banks raid accounts to claw back Covid loans: Cash seized from hundreds of businesses in scramble to stop fraud on bounce back scheme HSBC, Barclays, NatWest and Lloyds Banking Group have all begun freezing business accounts linked to suspected fraud They have seized sums of up to £50,000 from the accounts of hundreds of customers … Read more
Demand for business loans during the pandemic lifts profits at peer-to-peer lender Funding Circle By Daily Mail City & Finance Reporter Published: 21:51 GMT, 18 January 2021 | Updated: 21:51 GMT, 18 January 2021 Peer-to-peer lender Funding Circle said its total income in the final six months of 2020 was up 26 per cent Demand … Read more
Why did overseas firms like Chanel get Bank of England coronavirus loans? By Neil Craven, Financial Mail on Sunday Published: 21:52 GMT, 9 January 2021 | Updated: 21:52 GMT, 9 January 2021 In the bag: Luxury fashion firm Chanel was one foreign firm to benefit The mammoth Bank of England loan scheme was drawn up … Read more
Mortgages reach a 13-year high: More than 100,000 loans for house purchases got the go-ahead in November, marking highest monthly figure for more than three years Some 105,000 loans for house purchases got the go ahead, the BoE said This was up from 98,300 in October and marked the highest monthly figure since August 2007 … Read more