Mortgage holders trapped on an expensive deal because lenders have become stricter have been given a glimmer of hope under new rules from the City watchdog.
Bank of Scotland (BoS) has been fined £4.2 million by the City watchdog after an incredible blunder which saw it compensate the wrong people as it held shoddy customer data.
ING Direct savers in the UK will be protected by the British Government, instead of the Dutch compensation scheme, once a proposed buy-out by Barclays goes ahead.
Nationwide Building Society will stop selling new interest-only mortgages next week, which is another hammer blow for borrowers looking for such home loans.
4 October 2012
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