Belmont Thornton Logo
PPI Claims - About PPI

PPI Claim News

 
Loan charges: Pensioners facing debts

Studies have shown that many people who have retired are facing huge loan debts.

Mortgage provider Key Retirement Solutions said that many of their clients were facing unsecured loans that were at least six figures. Lots also had huge mortgages as they had not managed to pay off their debts before leaving work.

Some need to pay large lump sums in order to pay off interest-only mortgages as they are unable to gain new mortgage loans due to their age.

The Financial Services Authority (FSA) had been examining whether interest-only mortgages were being mis-sold as the time where these mortgages need to be repaid is fast approaching.

In January the Times reported that the FSA was looking at whether it needed to take action in case people were largely unable to repay mortgage loans.

The FSA also recently had to look into the mis-selling of interest swap rates from banks and ruled that this was true in 90 per cent of the cases studied.

Amir Hussain

Amir specialises in personal loans, consumer debt and debt management.ADNFCR-2776-ID-801537765-ADNFCR



Bookmark and Share
Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Town
County
Post Code 
Email 
Circumstances
Claim Back Mis-Sold PPI Button

Belmont Thornton Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities; our registration is recorded on the website www.gov.uk/moj/cmr number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B16, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

Please note that calls may be monitored for the purposes of staff training.

* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide