| FSCS reassures Santander customers - Mon, 21 May 2012 09:02:13 +0000 |
| The Financial Services Compensation Scheme (FSCS) will protect depositors in Santander, the scheme’s chief executive, Mark Neale, said. Deposits up to the value of £85,000 are protected by the scheme and savers with more than this amount should distribute the money across different banks and building societies, to ensure that the total amount is protected. [...] |
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| Payday loans trapping people in debt - Fri, 18 May 2012 22:59:04 +0000 |
| Payday loans have soared in popularity over the past few years, but consumer group Which? warns they are trapping people in a ‘downward spiral of debt’. Problems start to escalate if people are unable to pay back their loan on time, with some companies charging excessively high penalties for late repayments. Which? discovered that Quid24.com [...] |
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| Turmoil in Eurozone increases mortgage costs - Fri, 18 May 2012 09:39:28 +0000 |
| The Bank of England has warned that the ongoing Eurozone crisis is pushing up the cost of borrowing on wholesale financial markets. This is making it more expensive for lenders to fund mortgages and they are passing the costs on to customers by increasing their mortgage rates. “In the absence of falls in funding costs, [...] |
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