December, 2009 news
Insurance important as fire risk increases over Christmas
MORE THN Home Insurance has warned homeowners of the importance of insurance over Christmas, when the number of homes damaged by fire is set to rise by 180%.... Read more »
`Surge` in New Year debt enquiries expected
Nationwide Building Society has stated that debt help enquiries are likely to surge in the New Year.... Read more »
Mortgage market `on the up`
According to moneysupermarket.com, the mortgage market is `slowly on the up` after falling considerably during the first half of 2009, headlinemoney.co.uk reports.... Read more »
Lancashire: more people struggle with mortgage debt
According to the Housing Advice Service at Preston Council, there has been a rise in the number of people struggling to service their mortgage debts in the run-up to Christmas, the Lancashire Evening Post reports.... Read more »
Record bank account withdrawals from ATMs expected
Sainsbury`s Finance has estimated that around £10.6bn will be withdrawn from UK bank accounts through cash machines this month.... Read more »
Average loan rates `have increased in 2009`
New research from price comparison site Moneysupermarket.com claims that the average loan rate has increased throughout 2009.... Read more »
Insurance important for protection against cold weather
Insurance company MORE THN has warned homeowners to make sure they are insured against the potentially damaging effects of cold weather this winter.... Read more »
Teenagers worried about parents taking on debt this Christmas
According to research by children`s charity Barnardo`s, almost half (44%) of teenagers are worried about their parents going into debt this Christmas.... Read more »
FLA: secured loans down by almost half
New figures for October from the Finance and Leasing Association (FLA) have shown a 49% decrease in the number of secured loans provided by FLA members, compared with the same month last year.... Read more »
Graduates in debt `unable to find work`
In the three months to September, one in five unemployed 18-24-year-olds had a degree, according to new statistics obtained by the Liberal Democrats, meaning many of today`s graduates are unable to repay the debt they built up during their studies.... Read more »
Mortgage lending down in November
Gross mortgage lending was 10% lower in November than in October, according to the latest figures from the Council of Mortgage Lenders (CML).... Read more »
43% jump in mortgage applications
According to mortgage broker Countrywide Mortgage Services, the number of people applying for a mortgage jumped by 43% in the year to November, the Telegraph reports.... Read more »
Almost two million households `in debt to gas suppliers`
Almost two million households are in debt to their gas providers, according to new research by Moneysupermarket.com.... Read more »
Inflation nears 2% target
The headline (CPI) rate of inflation reached 1.9% in November, according to official statistics - just 0.1% short of the Bank of England`s 2% target.... Read more »
Fear of debt preventing people from buying property
According to research by protection provider Scottish Provident, more than half of people believe that owning their own home is `critical` or `very important` for a reasonable standard of living, ftadviser.com reports.... Read more »
Falling rates have eased pressure of mortgage debt
Falling mortgage rates have left a quarter of UK homeowners at least £200 a month better off than at this time last year, according to official statistics.... Read more »
Many mortgage holders `at least £200 a month better off`
A quarter of UK homeowners are at least £200 a month better off than they were this time last year, due to falling interest rates.... Read more »
Banks `can be pressured for faster money transfers`
The UK Payments Council has said that banking customers can put pressure on their bank to ensure a same-day service on money transfers, according to the BBC.... Read more »
13% of second-hand car costs `will be financed by loans`
Around 13% of the cost of second-hand cars bought over the next few months will be financed by loans, according to new research.... Read more »
Home insurance important this Christmas
Home insurance provider M&S Money has advised people to make security a priority this Christmas.... Read more »
Debt `keeping young adults at home with parents`
Increasing numbers of young people - especially men - in their 20s and early 30s are living at home with their parents, according to the Office for National Statistics, partly due to rising levels of student debt.... Read more »
Banks to offer more £5 notes through ATMs
The Bank of England will urge banks to increase the number of £5 notes in their cash machines, according to the BBC. ... Read more »
Extended support for homeowners struggling with mortgage debt
Following yesterday`s Pre-Budget Report, homeowners facing repossession and/or struggling to make payments to their mortgage debt after losing their jobs will continue to receive additional support from the Government, ft.com reports.... Read more »
Mortgage news: loans for house purchase at two-year high
According to figures from the Council of Mortgage Lenders (CML), the number of loans for house purchase in the UK reached 55,300 in October - the highest it has been since December 2007, and 43% higher than the figure recorded the same time last year.... Read more »
Car finance deals could help lower cost of motoring
The cost of running a car has risen sharply since last November, according to uSwitch.com, partly due to a 15% rise in the price of petrol.... Read more »
Students still waiting for loans
Thousands of students from England are still experiencing delays in receiving their loans and grants, the BBC reports.... Read more »
Car buyers minimise debt by buying second-hand
Car buyers are set to spend nearly £20bn on second-hand cars in the six months leading up to the end of February 2010, according to Sainsbury`s Finance. ... Read more »
Mortgage lenders targeting short-term deals
The majority of new mortgage deals offered in the last eight months have been two-year fixed-rate deals, according to Moneyfacts, reflecting a cautious approach from lenders with regard to the future of the market.... Read more »
Debt: savings levels remain static
The average proportion of income put into savings has remained fairly static in recent years, despite the economic downturn, according to a new report.... Read more »
British homeowners overpay mortgage debts
A survey by The Independent has found that a growing number of homeowners in Britain are choosing to overpay their mortgage debts.... Read more »
Homeowners choosing to overpay mortgages
According to a survey by The Independent, some of the biggest mortgage lenders in Britain say that a growing number of their customers are choosing to overpay their mortgages.... Read more »
Low-income families `facing debt this winter`
A survey by Save The Children has suggested that many lower-income families face getting into debt to afford warm clothing and food this winter, according to the BBC.... Read more »
Loans: lending increases for third consecutive month
The latest official statistics show a third consecutive monthly increase in net lending (new debt taken on minus debt repaid).... Read more »
Cost of insurance `preventing young people from driving`
13% of parents say their children are not driving because the cost of insurance is too high, according to Gocompare.com.... Read more »
Record levels of debt repaid in October
According to figures from the Bank of England, consumers repaid a record level of unsecured loans and credit card debt during October, the Telegraph reports.... Read more »
Insolvency Service: new moves to speed up bankruptcy
The Insolvency Service has released a consultation document on Debtor Petition Bankruptcy and Early Discharge from Bankruptcy, as part of a move to simplify and speed up the personal bankruptcy process.... Read more »
BBA: banks offering more mortgages
There was a significant increase in net mortgage lending in October, according to the latest banking figures from the BBA (British Bankers` Association).... Read more »
One in five student midwives `facing over £10k of debt`
According to a recent survey for the Royal College of Midwives (RCM), around one in five student midwives have debts of more than £10,000.... Read more »
Mortgage approvals rise
According to figures from the British Bankers` Association (BBA), 42,238 mortgages for house purchase were approved in October, up from 42,073 in September and 98% higher than in the same period last year, the Telegraph reports.... Read more »
Motorists cutting back on costs
The perceived cost of motoring is causing many drivers to cut back on costs, according to the RAC, despite the price of fuel falling over the past year.... Read more »