UK lenders make £27.5 billion Covid loans to firms

UK lenders make £27.5 billion Covid loans to firms

Figures just released show Britain’s lenders have provided £27.5 billion in financial help to more than 650,000 firms affected by the Covid-19 lockdown so far. The money has come through the three main government-backed lending schemes of the Bounce Back Loan Scheme (BBLS), the Coronavirus Business Interruption Loan Scheme (CBILS) and the Coronavirus Large Business …

Leasehold mis-selling – the housing industry PPI?

Leasehold mis-selling – the housing industry PPI?

Campaigners are calling for quick and decisive action on the mis-selling of leaseholds on the UK property market, dubbing it ‘the PPI of the housing industry’ Sales of leaseholds on new properties containing excessive ground rent and multiplier clauses have been the subject of a full investigation by the Competition and Markets Authority (CMA) who …

Mortgage holidays extended for another three months

Mortgage holidays extended for another three months

Homeowners struggling to make their mortgage payments have been thrown another three month lifeline by the government. The Treasury were concerned that an abrupt end to the scheme, which started in March, could produce a cliff-edge effect with borrowers being faced with money problems even worse than they had when the virus first struck. Deadline …