Former specialist mortgage lender Edeus is offering cash sweeteners to encourage its borrowers to redeem their mortgages early. It is also waiving early repayment charges and will not charge borrowers exit fees. The incentives are available to selected clients over an undisclosed period. Edeus will be encouraging the selected borrowers to contact the brokers that originally introduced the loan to Edeus in order to source a suitable deal with another lender. The firm, launched less than two years ago, was a specialist lender at the forefront of the UK’s subp
Posts Tagged ‘Debt Management’
Sweenter offered to borrowers to move on
Tuesday, July 8th, 2008Free financial advice for thousands
Monday, March 3rd, 2008The Government has pledged £12m for a large-scale trial of a free personal finance service that will offer general advice on issues such as managing debt, budgeting, retirement planning and understanding financial jargon on a two-year trial. The “money guidance” pilot project was the main recommendation of the final report of a 14 month long work led by Otto Thoresen, chief executive of life insurer AEGON UK which proposed an impartial, sales-free, personalised advice service to help people better manage their money. The report also claimed that consumers could be more than £15bn better off if they had access to financial guidance over the next 50 years. Over the same period, it could save the government some £6bn through reductions in Pension Credit payments and other benefits and also make the financial services industry £5bn because they would benefit from lower levels of bad debt, a better relationship with consumers and a reduction in advertising and selling costs. The recommendations come at a time when Britons have raked up a record UK personal debt of £1.4 trillion and are increasingly feeling the effects of the credit crunch.
