August, 2008 news
September rate cut unlikely, says economist
People struggling with debt problems are likely to have to wait a while before they`re offered relief in the form of an interest rate cut, it has been suggested.... Read more »
More rate increases for unsecured personal loans
People considering unsecured personal loans as a means of consolidating debts may be interested to know two more lenders have put their rates up.... Read more »
Mortgage debt risked due to insurance `over-estimates`
Households who experience a sudden loss of income could be risking mortgage arrears and other debt problems if they do not have appropriate cover, a financial services company has indicated.... Read more »
Loans `may help` the squeeze of retirement
People worried about debt problems plaguing their retirement years may want to consider the option of a loan from equity release, according to Fair Investment.... Read more »
Lending down by billions in past year
Figures released by comparison site uSwitch show the amount of money lent to British consumers in the form of mortgages and unsecured personal loans has dropped by nearly £11 billion in the past 12 months. ... Read more »
Tenants hit by repossessions
Figures released by the Council of Mortgage Lenders has revealed repossessions of buy-to-let properties are increasing twice as quickly as the mortgage market in total.... Read more »
Brits have `less disposable income`
Households in the UK now have less disposable income, according to research released by uSwitch.... Read more »
House prices `35% above level of affordability`
People may be getting into mortgage arrears due to high house prices, according to comments made by the chief executive of Firstrung.... Read more »
Borrowers hit by unsecured personal loan interest
Rate increases for unsecured personal loans may be hitting people seeking consolidation loans, according to information from uSwitch.... Read more »
"Previously creditworthy people" being turned down for loans
Tighter controls over lending are stopping more people being accepted for mortgages and loans, a new report has shown.... Read more »
Borrowers "confused" by price comparison sites
People looking for consolidation loans to clear their debts may be left bemused by comparison sites, Which? has said. ... Read more »
Worry for debt future as "finance literacy" worsens
Abbey has said UK adults` knowledge of personal finance matters is getting worse. ... Read more »
Advice given to personal loan borrowers
Finance information website the Thrifty Scot has offered advice to people considering taking out a personal loan. ... Read more »
Personal loan rates increase
A number of personal loan companies have increased their rates, according to Moneyfacts.... Read more »
Online banking `may help those in debt`
People with debt problems may want to consider doing their banking online, according to comments made by the Association of Payment Clearing Services (Apacs).... Read more »
Arrears hitting building society
The number of people falling into mortgage arrears has caused Britannia Building Society`s half-year profits to drop by 38 per cent, it has been reported this week.... Read more »
Mortgage loans harder to get
The number of mortgage loans agreed in the UK has dropped by around a half in the past year, it has been reported.... Read more »
"Bank of Sons and Daughters" to pay for parents` care
Saga has released a new report indicating people may find themselves with debt problems following unexpected care costs for their parents.... Read more »
A third of Brits `to retire in debt`
New research has found one-third of British people aged over 55 are approaching retirement with outstanding unsecured debts.... Read more »
Female car shoppers `more likely to consider debt risk`
Women thinking about buying a car are more likely to consider their personal finance and the overall costs than men, a new survey reveals.... Read more »
Increase of arrears and possessions "not surprising"
The numbers of people facing mortgage arrears and property possession "have increased from their low base rate as expected", according to the latest figures from the Council of Mortgage Lenders (CML).... Read more »
Serious debt among `biggest financial blunders`
A study by Fool.co.uk has found building up serious debt is the second "biggest financial blunder" made by British consumers. ... Read more »
Consumers should `be wary` of mortgage rate cuts
People celebrating recent rate cuts announced by several mortgage lenders recently should beware of "a sting in the tail" according to Moneyfacts. ... Read more »
Rapid economic change `caught out Brits`
A financial website has said the sudden impact of the credit crunch has not allowed British consumers to adapt.... Read more »
Interest rates to hold steady, says expert
With the next interest rate decision to be made this week (August 7th), consumers may be wondering what to expect from the Bank of England`s Monetary Policy Committee (MPC).... Read more »
Homeowners `opt to stay put and renovate`
More homeowners are opting for home improvements over selling their property, according to a new report.... Read more »
Windfall tax on energy `may not be the answer`
Rapping energy companies with a windfall tax could have a further negative impact on customers, a financial expert claims.... Read more »