Latest News from Money Expert

High street banks have granted almost 1.5m payment holidays to customers struggling with credit card and loan repayments due to COVID-19, according to new data.UK Finance, a banking lobby group,...

Banks have issued customers with refunds and compensation totalling £47 million for failing to warn them of unarranged overdraft charges.The Competition and Market Authority (CMA) has taken action...

Plummeting spending on travel drove a 6% slump in essential outgoings in April, as coronavirus restrictions kept Britons at home.Data from Lloyds Bank revealed that spending on fuel cratered, by 58%,...

The coronavirus itself isn’t the only predator stalking our streets. Fraudsters are taking advantage of consumers’ economic anxiety and new reliance on digital services during the lockdown to con them...

Customers mis-sold loans by failed payday lender Wage Day Advance will receive just 5.68p for every £1 they’re owed in compensation, administrator KPMG has announced.Customers took to social media to...

People over 55 are using digital services more than ever before during lockdown, but many are still wary of online banking, research from Santander found.More than half (54%) of older people going...

Mortgage lenders have withdrawn nearly all of their highly leveraged mortgages as the coronavirus crisis roils the economy and freezes the housing market.Lockdown measures and economic uncertainty...

British consumers remain pessimistic about their household finances, as the coronavirus crisis hits close to home, claiming jobs, wages and a sense of security. IHS Markit’s UK household finance...

Savers locking away money for a year now receive less than 1% interest on their deposits on average, as banks yank the best deals and savings rates plummet. One-year fixed-rate bonds now pay an...

The Financial Conduct Authority (FCA) has confirmed that new coronavirus relief measures, requiring insurers offer struggling customers payment holidays and premium reviews, will come into force...