A damning report on signature loans yesterday discovered families face an astounding ?400 million rip-off from the ‘broken’ market.
Banking institutions are damaging borrowers’ credit scores by refusing to state exactly just what interest you are going to get until such time you’ve used and are also utilizing ‘underhand strategies’ to full cover up loan charges, claims Paul Pester, the employer of TSB.
Calling for competing banking institutions to completely clean their acts up, he states: ‘I became genuinely surprised and astonished to discover the underhand strategies used by financial institutions.
There was an underlying culture in banking where they simply don’t believe in regards to the client. ‘