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Credit Cards The OFT steps in to slash penalty charges

 

Last summer the Office of Fair Trading mortgage rates warned the credit card

 

industry that its penalty charges were excessive and had to be reduced. The industry largely ignored the warning so now the OFT is to force massive reductions - by up to 40%. (remortgages)

Later this month, the OFT is expected to announce motor insurance quotes maximum levels for the charges the providers impose on those clients who breach their credit limits, who pay late or whose cheques bounce. car insurance quotations Rumours indicate that the cap will be around £15, perhaps lower, in comparison with the £20-£25 level so common within the industry. (cheap mortgages)

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THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. LOANS MAY BE SECURED ON YOUR HOME OR OTHER PROPERTY. (life insurance quotes)
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. LOANS MAY BE SECURED ON YOUR HOME OR OTHER PROPERTY.

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