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Mortgage prisoners are trapped in loans they took out pre-financial crisis   MPs voted against an amendment to the Financial Services Bill which would have slashed interest rates and cut payments by up to £800 per month  Campaign group says MPs don't understand their situation and calls for government-backed loans like those being offered to first-time buyers  Treasury says it needs to collect more data on mortgage prisoners before it can come up with a solution, and will review current policies 

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More than a quarter of a million households face soaring energy bills if they do not switch tariff soon, new research has revealed. Some 167 fixed tariffs end this month which will see customers automatically  switched onto more expensive 'default' deals if they do not switch tariff or provider when their plan comes to an end. The average increase to energy bills is £67 per household with the average annual cost of a fixed rate energy tariff ending in February coming in at £918, according to Compare the Market. If customers do not switch when their fixed tariff ends, energy companies are s...

The energy price cap is predicted to rise by at least £66 a year, new data has revealed, which could mean even more households struggling to meet their bills.  Households are expected to pay more in 2021 as a result of higher wholesale costs, according to experts at Cornwall Insight. This is Money predicted the hike at the beginning of the year, revealing the increase is a result of markets beginning to recover from the height of the global pandemic. The default tariff price cap is now expected to increase from its current level of £1,042, by approximately £66, to £1,108 per year for a t...