Banks poised to call back billions in Covid loans

Fears for small firms as banks prepare to claw back billions in Covid loans HSBC, NatWest, Barclays and Lloyds have begun sending letters to customers  Banks are allocating hundreds of extra staff to spearhead the recovery efforts They have handed out more than £75bn to 1.6m firms under Government scheme By Helen Cahill and Emma … Read more

David Cameron ‘lobbied ANOTHER Tory Treasury minister for loans’ to Greensill

David Cameron ‘lobbied ANOTHER Tory Treasury minister for loans’ to rescue collapsed finance firm Greensill David Cameron ‘contacted financial secretary to the Treasury Jesse Norman’ Did so while trying to get access to chancellor Rishi Sunak, it has been claimed  Norman known to the PM, serving as Downing Street policy advisor from 2013  By Henry … Read more

Amigo Loans scheme to safeguard its survival approved by High Court

Britain’s largest guarantor lender Amigo Loans has been given the green light by the High Court to proceed with a scheme designed to cap the cost of compensation for mis-sold loans. Up to 1million current and past borrowers potentially given unaffordable loans as long ago as 2005 will now have until 12 May to vote … Read more

Lobbying watchdog CLEARS David Cameron over ‘texts to Rishi Sunak asking for Covid loans’ for firm

David Cameron CLEARED by lobbying watchdog over ‘texts to Rishi Sunak asking for millions in Covid loans’ for Greensill Capital before it collapsed into administration Ex-Tory leader faced a probe over text messages he was reported to have sent  His activities were investigated by registrar of consultant lobbyists  Post set up in legislation passed by … Read more

David Cameron texted Rishi Sunak lobbying him to grant loans to Greensill before it went bust

David Cameron texted Rishi Sunak lobbying him to grant hundreds of millions of taxpayer-funded loans to stricken financial firm Greensill before it went bust The former prime minister is said to have texted the Chancellor’s private mobile  Mr Sunak ignored most of the messages and instead referred him to officials  Labour called for an inquiry … Read more

Amigo Loans on borrowed time in court wait

Amigo Loans heading for crunch court decision that could tip lender into administration, leaving 700,000 borrowers without compensation By Emma Dunkley, Financial Mail On Sunday Published: 21:50 GMT, 20 March 2021 | Updated: 22:47 GMT, 20 March 2021 Amigo Loans is heading for a crunch court decision that could tip the lender into administration, leaving … Read more

Why it’s dog days for Downton: Lockdown at the real Abbey has meant bank loans

The Countess of Carnarvon is fresh from her daily al fresco yoga session in Highclere’s sweeping gardens. ‘I’ve just been inverted!’ she cries, emerging pink-cheeked and ruffled from the bushes, clutching a yoga mat and surrounded by dogs. She’s flustered, but it’s little surprise. This morning she’s already had to deal with a carpet restorer … Read more

Ombudsman complaints: Guarantor loans replace PPI

Thousands of Britons are complaining to the Financial Ombudsman Service about being mis-sold unaffordable guarantor loans, new figures reveal, as Payment Protection Insurance was finally dethroned as the most complained about financial product. Complaints about PPI numbered 6,679, meaning it was not the most complained about product in a three-month period for the first time … Read more

The Restaurant Group adds another £500m in loans

The Restaurant Group adds another £500m in loans as it reveals it’s burning through £5.5m of cash each month as branches remain shut TRG said the loans would give it ‘enhanced liquidity and long-term financing’  The firm’s brands also include Chiquito, Garfunkel’s, and Brunning & Price Hospitality venues are expected to fully reopen no earlier … Read more