The Consumer Credit Counselling Service has warned borrowers against taking out payday loans.
The short term lending products can be particularly attractive to consumers with bad credit histories, as they provide funding quickly to aid cashflow problems.
Since the credit crunch, the CCCS says payday loan demand has increased, but can be one of the most expensive [...]

Gordon Brown today claimed that a decade ago, in Harvard, he had called for better regulation of the financial markets to avoid future credit problems.
Thanks to the collapse of confident lending between banks, it is now a struggle to obtain secured loans, and bad credit mortgages are perhaps the most difficult to find.
Mr Brown, however, [...]

Several mainstream lenders cut the prices of their mortgage deals last week.
NatWest/RBS, Alliance & Leicester and Abbey all reduced the prices of their two-year fixed rate deals, although high loan-to-value ratios remained.
This may indicate the start of a slow return to stability, and a knock-on effect could be greater ease in securing bad credit mortgages.

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