News
Arrears charges outrageous: Moneysupermarket
Moneysupermarket has described it as outrageous that struggling borrowers being hit with high arrears fees.
The firm looked at a selection of lenders and said that the most callous charge is for a debt counselling service which can be as much as £100.
It revealed that GMAC and Halifax charge the most for debt counselling services at £100 while Lloyds charge £206 for arrears which are three months and over.
Hannah Skenfield, mortgage channel manager at Moneysupermarket, said lenders have not treated customers fairly over arrears charges.
She adds: “For providers to take advantage of their most vulnerable customers who have approached them for help to get a grip on their finances is unacceptable.”
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