Borrowers using payday loans, buy-now-pay-later deals, car finance and pawnbrokers get new help if they can’t meet payments due to Covid Guidance comes in force on Friday and covers rent-to-own business customers For customers yet to request payment freeze, they can apply up to October 31 A ban on repossessions for motor finance and RTO … Read more
Credit card interest rates hit a record high this month despite a record low base rate as providers hiked the cost of borrowing for those with poor credit histories or turned down by mainstream banks. The average credit card purchase APR now stands at 25.5 per cent, up from 24.1 per cent last June, after … Read more
Borrowers of £48billion in car finance will be able to freeze their payments for three months if they are struggling to cover their installments due to coronavirus, the Financial Conduct Authority proposed today. The city regulator said those who used Personal Contract Purchase, Hire Purchase or Conditional Sale agreements to purchase a car would be … Read more