RUTH SUNDERLAND: FCA's high-stakes bluff with Amigo Loans
When you are a City watchdog, it’s hard to win. The Financial Conduct Authority has been excoriated for being missing in action over Woodford, LCF, and Greensill.
loans
Amigo Loans shares crash 50% after proposed rescue plan fails
Shares in subprime lender Amigo Loans fell close to 50 per cent today after its proposed rescue plan was roundly rejected by the High Court, despite the approval of creditors.
Morses Club boss slams City watchdog over doorstep loans
Paul Smith is better placed than most executives to talk about the dire financial straits facing families at the bottom of the wealth pile. His family relied on doorstep loans firm Provident Financial.
Nephew of Aussie Home Loans founder John Symond ‘sells’ $14m Sydney apartment
Nephew of Aussie Home Loans founder John Symond ‘sells his Walsh Bay apartment with harbour views for more than $14MILLION’ By Kristy Johnson For Daily Mail Australia Published: 01:08 BST, 21 May 2021 | Updated: 01:13 BST, 21 May 2021 James Symond, the nephew of Aussie Home Loans founder John Symond, has reportedly sold his … Read more
Loans firm Amigo may fail in days, says boss
Boss of Amigo Loans says it will fall into insolvency if landmark court judgment goes against it By Emma Dunkley, Financial Mail On Sunday Published: 21:50 BST, 15 May 2021 | Updated: 21:50 BST, 15 May 2021 The boss of Amigo Loans has said it will fall into insolvency if a landmark court judgment goes … Read more
FCA tells Amigo Loans it will oppose proposed rescue plan in court
Subprime lender Amigo Loans’ share price fell by more than 30 per cent this morning after regulators said they would oppose a rescue plan which would cap compensation payouts in court. The Financial Conduct Authority previously said in March it had several problems with Amigo’s proposed ‘Scheme of Arrangement’, including over how mis-selling complaints would … Read more
Loan shark route for borrowers as Provident ends doorstep loans?
Provident to dump doorstep loans arm: Move will drive desperate borrowers into hands of loan sharks, experts warn Pulling down the shutters will send shockwaves through the sub-prime industry, which provides loans to people with patchy credit histories Doorstep loans are where a lender calls at the borrower’s home to collect repayments, usually at high … Read more
Plan to impose loans on cladding victims must be scrapped, MPs say
Plan to impose loans on cladding victims must be scrapped, MPs say Government schemes to help leaseholders ‘do not go far enough’, says report The report warns that the cladding crisis threatens the entire housing market Assessment piles more pressure on Housing Secretary Robert Jenrick By Miles Dilworth For The Daily Mail Published: 00:26 BST, … Read more
Nationwide offers £500 cashback on loans for green homes
Nationwide offers £500 cashback on mortgages for buyers of energy efficient homes By Amelia Murray For The Daily Mail Published: 22:01 BST, 27 April 2021 | Updated: 22:01 BST, 27 April 2021 Buyers of energy efficient homes can earn £500 cashback with a Nationwide mortgage. Most homes sold in the UK need an Energy Performance … Read more
Chris Leslie has new job…as debt collector chasing Covid loans
As Shadow Chancellor of the Exchequer and trustee of two debt advice charities, Chris Leslie spent years trying to protect vulnerable borrowers from the tactics that lenders use to claw back loans. How the tables have turned. The Mail on Sunday can reveal that the former Labour MP has been advising bankers on how to … Read more