Archives for the 'General Finance' Category
Equity release ‘could pose debt problem for elderly’
Elderly consumers may develop a debt problem if they cannot afford repayments on an equity release scheme, it has been warned.
The Financial Services Authority (FSA) explains that while defaulting on a mortgage is “very unfortunate” for a 30-year-old, it could result in a serious debt problem for a more elderly borrower.
Younger Britons are likely […]
Britain is Maxed Out!
Britain’s personal debt is increasing by one million pounds every four minutes - an astounding figure. At the beginning of May 2007 UK personal debt stood at £1,325 billion, an increase of 10.4% from the same period the previous year.
Secured lending on property now stands at the beginning of June 2007 at £1,112bn - an […]
‘Learning curve’ for bad debt mortgage providers
Providers of bad debt mortgages are facing a steep learning curve as they seek to comply with regulation, it has been claimed.
The Financial Services Authority (FSA) has recently undertaken an investigation of independent financial advisers (IFA) and bad debt mortgage providers.
David Elms, chief executive of industry body IFA Promotion, suggests that those firms identified […]
Football fans ‘facing personal debt’
Die-hard football fans may be facing personal debt in light of rising season ticket prices, it has been claimed.
Research conducted by Virgin Money previously found the cost of the average season ticket escalated by 17 per cent over the course of 2006. The findings also show that 12% of football fans are considering not […]
Poor publicity ‘causing illness-related debt issues’
A lack of positive publicity regarding critical illness insurance policies may be causing debt issues for consumers, it has been claimed.
The insurance cover guarantees that regular payments such as mortgages and utility bills will continue to be met if an individual is too sick to work.
However, financial researcher Defaqto has suggested that poor consumer […]
Future of debt for financial fantasists
National Savings & Investments (NS&I) has warned that many Britons are facing a future of debt by not planning ahead.
According to the financial services provider, a third of consumers base their plans on expected pay rises with no guarantee of them materialising.
NS&I advises that a wiser approach may be to set some money aside […]
Interest rates ‘disaster’ for families in debt
Families with debt management problems are facing ‘disaster’ following recent increases in the base rate of interest, it has been claimed.
Liberal Democrat shadow chancellor Vince Cable advises that rising mortgage repayments are presenting many families with affordability issues.
His comments follow the publication of statistics by the Council of Mortgage Lenders which show the affordability […]
Student debt rises to £3bn
The debt levels of students has risen to £3 billion, it has been claimed.
According to reports, the UK’s Student Loans Company is expected to announce later this week that debt levels have trebled since 1997, as a result of the need to cover fees and maintenance.
“Debt levels of such dramatic proportions do not only […]
Taking the plunge
The current economy of the country can be terribly misleading for most people this day and age, you look at it one way and it all seems a smooth, steady progress in which Britain seems to be flourishing, and then on the other hand you hear the papers talking of a horrifying rollercoaster which will […]
Get more from your Remortgage
Remortgaging is the process of moving your mortgage from one lender to another, or choosing a different type of mortgage from your current lender. In short, a remortgage is simply about the saving of money.
If the value of your home has risen, then remortgaging may be of particular relevance to you. At The Debt Line, […]