Today, short term lender Wonga registered a pre-tax loss of £37.3 million following a major overhaul of the company. Wonga had to write of thousands of unsuitable loans. Debts worth more than £220 million were cancelled due to a failure…
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Figures today revealed that the average UK household will be in £10,000 in debt by end of 2016. A PWC report warned that people’s complacency over managing their debt may lead to a resurgence in debt. The findings were very…
On 18th February the Citizen’s Advice Bureau said that consumers are losing about a tenth of their earnings through problems with faulty goods, bad business practice and poor service. They revealed that £1 in every £10.60 earned was lost as…
Today, the Financial Times reported that membership of credit unions has doubled over the past decade. The current number of members stands at 1.5 million, almost on a par with those using Pay Day loans which currently totals 1.6 million….
Average incomes and loan protection down, despite lowest unemployment levels for six years This weekend, The Independent on Sunday featured the launch of our Financial Fragility and Confidence report. The article included statistics from The Office for National Statistics which…
Yesterday, we launched the results of our third annual Financial Fragility Survey in a media roundtable event at Portcullis House, overlooking the Houses of Parliament. The event was chaired by Heather Wheeler MP and attended by Andy Love MP and…
This week, Scottish residents received welcome news of a new Financial Health Service website launched by the government. The website http://www.scotlandsfinancialhealthservice.gov.uk/ aims to inform vulnerable Scots about the protection gap after research by Cuna Mutual UK showed they have little…
On Tuesday 30 September, CUNA Mutual took a seat at the Respublica roundtable ‘Banking for the Many’ at the Conservative Party Conference. Led by Philip Blond, from the lobbying group, the event centered on change and evolution within the financial…
The launch of payment waiver with the first UK building society is set to shake-up the mortgage market – providing a pioneering new mortgage feature that will provide peace of mind and protection to borrowers across the UK. The newly…
News this week that the Royal Bank of Scotland has become the second UK lender to cap large mortgage loans, concerned that the London property market is overheating. Following the move by Lloyds Banking Group last month, RBS is restricting…