bank

One in five people are overdrawn by £697 each day

13th November 2024 Arrears and Recoveries | #bank #overdraft

New research by TotallyMoney data found that one in five adults (19%) are overdrawn by £697 each day with many high street banks are charging between 35%-49.90% APR. This makes overdrafts an expensive way to borrow money, and in line with a typical near-prime personal loan (a prime personal loan would usually be below 10%…

Bank of mum and dad drives increasing economic inequalities in early adulthood

13th February 2023 Alternative Consumer Lending | #bank

New research by Institute for Fiscal Studies (IFS) has found that billions of pounds loaned by the ‘bank of mum and dad’ to help with property purchases and to boost the finances of newly married offspring are helping to fuel rising levels of inequality. The research found that £17 billion is gifted or loaned informally…

Masthaven Bank to exit UK

2nd February 2022 Company News | #bank

Following a comprehensive strategic review, Masthaven Bank has announced that it will be withdrawing from the UK banking market over the next two years. Masthaven, which was founded as a non-bank lender in 2004 and acquired a banking licence in 2016, is now communicating the news of its strategic withdrawal from the market to employees,…

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bank

One in five people are overdrawn by £697 each day

Bank of mum and dad drives increasing economic inequalities in early adulthood

Masthaven Bank to exit UK

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