My pick of last week’s news is the varied selection of articles on mortgages.
Tweet of the week
— Bank of England (@bankofengland) May 10, 2018
A recording of a phone call from with Lending Stream Youtube video: Payday lender calls customer 5 times within half an hour.
- Former City watchdog manager turned down for mortgage application Times (£ paywall) Lynda Blackwell, a mortgage policy manager at the Financial Conduct Authority from 2004 to 2014, was denied a home loan after she became a self-employed consultant.
- 100% mortgages that crashed the economy are BACK Mail: Barclays and the Post Office are among big lenders offering the loan deals to attract first time buyers without a deposit.
- New Aldermore mortgage offers a lifeline to pensioners stuck with interest-only debts that they can’t pay off Mail: This makes Aldermore the first lender to offer older borrowers the option to remortgage an existing interest-only mortgage in retirement, though early indications suggest other lenders are looking to introduce similar products soon.
- LOAN ‘PRISONER’ Terminally ill hospital worker trapped in her home by sky-high mortgage Sun: Mortgage expert David Hollingworth confirmed that many mortgage providers have a minimum loan amount, which is typically around £25,000.
Scotland in the Red 2017 StepChange statistics: Nearly 20,000 people in Scotland contacted us last year, an increase of 47% since 2013.
- Lush, Amigo Loans and Churchill Retirement founders on Rich List Bournemouth Daily Echo: AMIGO Loans founder James Benamor is the richest person in Dorset.
- How to complain if you have got a guarantor loan my article.
- ‘It’s a hidden nasty’: Parents in dark over need to top up student loans Guardian: Experts attack government for failing to tell families they must pay up to £5,000 in living costs.
- Student loans boss Steve Lamey hired ‘against advice’ BBC: Within 18 months he was sacked for gross misconduct after whistleblowers made 69 allegations of wrongdoing.
BBC drama to tell story of courier who took his own life over parking ticket debt Camden New Journal: The BBC3 factual drama, Killed by my Debt, is billed as depicting the “dangerous drawbacks of the gig economy and insecure jobs, the impact of traffic fines and the destructive power of debt”.
- Betfred boss offers staff on minimum wage quick cash loans with 39.9% interest Mirror: Ads for the loans, which do not reveal he is behind the firm, have been posted on BetFred’s staff intranet and on a Facebook site for gaming industry workers.
- Bookies beg for one-year reprieve on FOBTs Times (£ paywall) Last week, Esther McVey, the work and pensions secretary, strongly objected to the plan to introduce a £2 stake. However, industry sources fear her plea has been unsuccessful.
- Man from Skegness assaulted wife after losing £700 in betting shop Skegness Standard She said Firth arrived at the caravan, blaming her for ‘stressing him out’ so much that he had gone to a betting shop and lost £700 and demanding that she pay him the money he had lost.
Loan shark money to be used to sponsor credit union accounts News Shopper: Residents in Lewisham, Orpington and Sydenham can start a sponsored credit union account under the incentive.
A New Generational Contract: The final report of the Intergenerational Commission Resolution Foundation. At 230 pages you may just want to dip into this.
Tessa Jowell: ‘I’m most proud of setting up Sure Start’ 2015 interview with the Guardian.