moneynet in the press

Pokerlistings.com (web) – 31st January 2008

BEWARE INTEREST ON GAMBLING CREDIT CARD CHARGES

Online gamblers beware – you may not realise your credit cards are dinging you more for online gambling transactions than you think.

According to Moneynet.co.uk, some examples of the difference in interest rates between purchases and cash withdrawals are:

Credit Card
Purchase APR
Cash APR
Co-operative Advantage Visa
Bank of Scotland Credit Card
Oxfam Standard
Natwest Classic Card
Halifax One Card

Richard Brown, Moneynet.co.uk chief executive, said in the Reuters article that if online gamblers aren’t aware of the way online gambling transactions are treated, they could be losing money hand over fist as the interest adds up.

Reuters.co.uk – 29th January 2008

GAMBLERS AND THEIR CREDIT CARDS - - A WARNING

Online gamblers could risk losing more than their stake if they use a credit card to fund their flutters.

Most credit cards providers now treat online gambling transactions as cash advances - - Which usually attract a higher rate of interest than purchases, according to price comparison site Moneynet.co.uk.

Daily Mirror (Main) – 29th January 2008

ONLINE PUNTS RIP-OFF

Big banks are cashing in on online gamblers who put their punts on plastic.

“Gamblers are losing money hand over fist as the top rate of interest stacks up,” warned Richard Brown of Moneynet.co.uk.

Mortgage Introducer (Main) – 26th January 2008

UNSECURED LOAN CLAUSE ’COULD THREATEN MORTGAGE MARKET’

Moneynet.co.uk has warned consumers to beware the ‘all monies charge’ clause attached to some lenders’ mortgage agreements, which ties a mortgage to any further borrowing.

Moneynet.co.uk said consumers might be unaware that such a clause exists in their mortgage agreement and may be vulnerable to losing their home.

Citywire.co.uk (web) – 25th January 2008

HIDDEN MORTGAGE CHARGE THREATENS UNWARY HOMEOWNERS

A little known clause in many mortgage contracts could put the homes of mortgage holders at risk if they default on a personal loan.

Financial website Moneynet.co.uk has warned that many people are not aware of an ‘all monies charge’ which appears in the small print on some mortgages – notably some offered by Barclays and HSBC. .

Huddersfield Daily Examiner – 24th January 2008

LOAN DEFAULTERS COULD LOSE HOME

A little known clause in some major lenders’ mortgage agreements could lead to homeowners losing their property should they default on any additional borrowing, warns personal finance data comparison site Moneynet.co.uk.

Mortgagestrategy.co.uk – 22nd January 2008

WARNING ON RISKY CLAUSE IN MORTGAGE CONTRACTS

Moneynet.co.uk has warned that a clause in many mortgage contracts could put borrowers’ homes at risk if they default on additional borrowing.

Richard Brown, chief executive of Moneynet.co.uk, says: “It’s shocking that borrowers who believe their additional borrowing is safely separated from their mortgage are actually agreeing to risk the security of their home.” He adds: “People may think better the devil they know when deciding which lender to choose for an unsecured loan – but unless they read all the small print they could be unaware that they are to all intents and purposes signing up for a secured loan rather than unsecured.

Autowired – 7th January 2008

GOVERNMENT CAR CRUSHING WASTE SCANDAL MUST END, SAYS ABD

It seems that every day we hear of vehicles being seized and crushed by various government departments including police, customs and excise, local authorities and trading standards. The ABD asks why these vehicles are not being auctioned off to raise funds.

http//www.moneynet.co.uk/news/insurance-record-numbers-of-uninsured-vehicles-crushed—18355166.shtml

The News (Portsmouth) – 4th January 2008

MORTGAGE WOES SURFACE

Although he probably wanted to be helpful, the letter from David Cameron asking lenders to be lenient on homebuyers who hit trouble when their fixed rate mortgages expire has probably added to fears about prospects in 2008.

Mortgages: Richard Brown at Moneynet.co.uk says the squeeze could be toughest on borrowers who fixed around 4.5% in August 2006. Seeking new loans in 2008, they could find many fixed, discounted and tracker products carrying hefty upfront fees and possibly a tie-in for a set period of time.

Brown says borrowers with repayment mortgages might extend their mortgage term to 35/40 years.

East Anglian Daily Times (East) (Main)
East Anglian Daily Times (Essex) (Main) – 1st January 2008

GUTTER PRESS

If 2007 was a difficult year for homeowners, 2008 could be harder still.

Although he probably wanted to be helpful, the letter from David Cameron asking lenders to be lenient on homebuyers who hit trouble when their fixed rate mortgages expire has probably added to fears about prospects in 2008.

Mortgages: Richard Brown at Moneynet.co.uk says the squeeze could be toughest on borrowers who fixed around 4.5% in August 2006. Seeking new loans in 2008, they could find many fixed, discounted and tracker products carrying hefty upfront fees and possibly a tie-in for a set period of time.

Roof (Main) – 1st January 2008

GUTTER PRESS

Property market collapse, credit crunch? You know things are bad when property developers can’t give their cash away.

The Daily Mail exposed the ‘Shaming of brokers over unrepayable mortgages’, referring to the Financial Service Authority’s crackdown on ‘rogue mortgage brokers’ pushing loans on first-time buyers. It followed with ‘How 10 million Britons are falling into a black hole of debt’. A Mintel and Moneynet.co.uk survey revealed: ‘More than ten million adults are teetering on the brink of the financial abyss because they cannot cope with rising financial payments.’