Marks and Spencer Money has received the award for best unsecured personal loan provider by Your Money Direct.
It was felt that Marks and Spencer provide several highly competitive unsecured personal loans as well as making it easy for potential customers to work out repayment amounts and select the option that best suits them. M&S also received awards for their credit cards and travel insurance showing just how focused they are on their financial services offerings.
A Marks and Spencer spokesman made it clear that the award was very special to them but that it did not mean there would be any complacency in future. It is always the aim of M&S to deliver great products that offer real value for money and this will continue.
Liverpool Victoria has received a fine of GBP840,000 because of serious issues with the way it sells PPI or Payment Protection Insurance.
It appears that the Banking Services arm of Liverpool Victoria was automatically adding PPI to personal loan quotations even though prospective customers had not asked for it. The good news for any customers affected is that the amounts taken will be paid back as soon as possible to the 14,500 customers who had money taken from them in this way.
The average cost the addition of PPI placed on each person with a personal loan is around GBP1,600, which is a considerable sum when taken as a percentage of the amount borrowed. Liverpool Victoria customers are sure to appreciate the windfall, as well as the apology that will go with it.
The amount of money people expect to spend on a used car is down 8 percent compared with the previous 6 months. Sainsburys Bank gained this information from their regular survey, finding also that nearly 5 million people plan to buy a used car during the coming six month period.
The advice to anyone selling a car then is to be well aware of the state of the market and not to price their vehicle too high. Knowing how the market is going can really help used car sellers position their vehicles at a price they feel will be acceptable and so get a quick sale.
Sainsburys Bank also found that over 15 percent of second hand cars bought would be financed through a car loan, with the average price of vehicle coming in at over GBP4,500.
Compare unsecured personal loans from Sainsburys Bank and many others.
