There may be a few reasons a homeowner may seek to remortgage their home, but the two primary reasons are to obtain a better interest rate than their original loan, thus lowering monthly payments, or

Early signals of the British economy hitting troubled times started to emerge in the late summer of 2007 when one of the country's biggest mortgage lenders, Northern Rock, had to borrow billions from

Do you live a lifestyle where charging basic necessities like groceries is unavoidable? If you do, things need to change! Being caught in the debt trap can be quite stressful and can even wreck havoc

When people have repairs or improvements that they would like to do on their homes, these normally require some type of loan. Homeowner loans are one way of borrowing money, and they have become quit

Adverse loans are loans in which the borrower has fallen behind on payment. As soon as loan payments are behind schedule, those loans are considered adverse loans. Adverse loans can be very detrimen

Dealing with repossession can be embarrassing and challenging to get through emotionally, let alone what it does to your credit report. Legally speaking, if you are unable to make your car payments, t

Modern world recognize and use two sciences: mathematic and economy. Long time ago, Albert Einstein said: "The hardest thing in the world to understand is the income tax." For every action there is an equal but opposite reaction. Interpretation of Einstein law is very simple: Unfortunately, one of our two sciences is guilty for the worst crimes ever committed.

With a lead of twelve points in recent opinion poll findings, the British Tory Party is producing policy reviews that could be adopted for their manifesto - and should they win ultimately become part

Bank Charges are one of the major sources of income for banks. All banks impose charges on certain failed transactions e.g. a bounced cheque, exceeding overdraft limits, returned direct debits etc. Indeed, banks are allowed to impose charges that reflect the amount of work undertaken by administrative staff in certain situations such as customers going into the red or handling a cheque which cannot be cleared due to insufficient funds in the account. If a cheque or direct debit has to be returned, the bank can charge for the cost of this process. However, any such charge must be reasonable. Banks who regularly impose hefty charges between £25.00-35.00 on a customer who is £1.00 overdrawn cannot be said to be acting fairly. The Office of Fair Trading (OFT) declared that these charges were unfair and unreasonable. It is a scandal and many have called it daylight robbery. Banks when asked to produce documents justifying the charges have failed to do so. However, it is likely that the banks will have gathered some ammunition to produce at the High Court in the test case on bank charges in January 2008. The test case relates only to current accounts and not business accounts. The brutal truth is that unfair bank penalty charges have been imposed on millions of people. It has been a merciless punishment on people who may have simply overlooked their current account status or had a late payment of wages. Excessive charging has resulted in many people getting into debt which also has drastic consequences in credit ratings.
The High Court will no doubt be asked to consider whether the charges are fair. The penalties which can be imposed, and which no doubt may be in the individual contract between customer and bank, relate to a range of services following troublesome banking. However, the OFT’s investigation confirmed that banks were imposing illegal and unfair charges. It is widely thought that the High Court will rule in favour of the customer.
Recent research has suggested that about 41 per cent of people do not know the interest rates applicable to an unauthorised overdraft. Many more have simply swallowed the hefty charges imposed on them without even a letter of complaint or fight. It is also worth noting that 19 per cent of people are always overdrawn. These surveys also show that overdraft charges of £4.7 billion were paid by 43 per cent of current account holders last year.
Credit Card / Store Card Charges

A mortgage is a method of using property as security for raising a loan to pay off a debt or to meet some personal obligation. Most of us have used this method to raise money during some stage in our lives. However, when it comes to paying off a mortgage and when someone is unable to repay the monthly installment due to some constraint, lenders will impose a charge. In this article, we will look at Mortgage Exit Fees, Mortgage arrears charges and the actual cost to the lender compared to what they charge customers. In essence the key focus is on whether the charge is unfair. What many mortgage victims want to know is how the charges can be claimed back.