This morning, the Financial Conduct Authority announced proposals to try and help people struggling with their finances as a result of coronavirus. The proposals are subject to a quick-fire consultation and could come into force next Thursday. Banks have already brought in some measures themselves, but the FCA proposals seek to ensure that customers of … Read more
Britons struggling to repay their debts amid the coronavirus crisis could be given £500 interest-free overdrafts and get a three-month freeze on loan repayments under new proposals. The Financial Conduct Authority (FCA) is asking banks to offer anyone unable to repay their overdraft as a result of the virus outbreak £500 interest-free. Anyone hit financially … Read more
Nearly one million people have applied for Universal Credit in the past two weeks as businesses nationwide were forced to close to stop the spread of coronavirus. There have been 950,000 new benefit applications made since March 16, compared to 100,000 in a normal two-week period. Chancellor Rishi Sunak announced a number of measures as … Read more
Apple lets its credit card holders defer April payments without penalty because of financial hardships caused by coronavirus Apple said customers can forego payments on interest for the month of April It cited financial hardships created by the coronavirus pandemic To activate the offer, customers will have to contact customers support Apple rolled out the … Read more
Nearly a million Britons try to claim Universal Credit over two week period after huge surge in ex workers claiming support amid coronavirus crisis Around 880,000 people applied for Universal Credit in a two week period This is significantly above the 100,000 applications normally made in a fortnight Labour MP Stephen Timms said some people … Read more
While the Chancellor has announced a series of measures over the last fortnight designed to cushion the blow for those whose jobs have been affected by the coronavirus outbreak, thousands will likely be turning to the benefits system. In particular, employees who have been made redundant rather than furloughed on half or 80 per cent … Read more
Andrew Bailey’s first day as governor of the Bank of England saw a promise of ‘prompt action’ to deal with the financial fallout from the Covid-19 crisis. His pledge is a fresh signal that all is not well with the global monetary plumbing. The American central bank, the Federal Reserve, has intervened twice since last … Read more
Apple lets its credit card holders skip March payments because of financial hardships caused by coronavirus Apple said customers can forego payments on interest for the month of March It cited financial hardships created by the coronavirus pandemic To activate the offer, customers will have to contact customers support Coronavirus symptoms: what are they and … Read more
Three quarters believe in a credit blacklist…it’s a MYTH! We’ve asked the experts what you should know By Rachel Wait, Financial Mail On Sunday Published: 23:45 GMT, 14 March 2020 | Updated: 23:45 GMT, 14 March 2020 Many of us know that having a good credit score is key to getting accepted for the cheapest … Read more
Two out of five of the poorest elderly people are missing out on pension credit, but claims are likely to rise as over-75s try to keep the right to free TV licences. The take-up rate among hard-up pensioners has barely budged for years, with an estimated 1.2million families losing around £2,000 annually – or £2.5billion … Read more