Archives for the 'General Finance' Category
CCJ’s filling the court rooms
For the first time in 14 years the amount of County Court Judgments in England and Wales has increased. Through the Nineties the numbers of CCJs fell as economy improved, but now with attitudes towards debt changing, numbers are increasing again.
In 2005 the number of people being brought before the judge for bad debts rose […]
All doom and gloom?
Every day a new report on how, ‘debt is crippling Britons’ graces the headlines of our much respected financial newspapers, agreed it is very worrying to hear stories of graduates entering the employment market with £20,000 of loans and huge credit card bills looming over them, and this is them just getting by!
This is, however, […]
UK Interest Rates
According to experts, the concern surrounding wage-driven inflation must be addressed by the Bank of England by setting an interest rate target of 5.75% to be achieved by mid June. It is expected that during May, interest rates are likely to increase from 5.25% to 5.5%. However, according to the National Institute for Economic and […]
Baby boomers ‘torn between financial commitments’
People aged between 55 to 64 in Britain are being financially stretched by having to support their adult children as well their elderly parents, according to research.
A new survey from engage Mutual Assurance suggests that a significant number of people in the baby boomer age bracket are having their finances stretched.
It found 60 per […]
British towns ‘unaffordable for workers’
British towns are unaffordable for about 70 per cent of the country’s workers, according to a new report.
Data from Halifax suggests that average house prices in 363 out 517 towns in Great Britain are beyond employees’ finances.
The figure marks a 65 per cent rise from that of last year, with nurses and firefighters facing […]
Male spending attitudes ‘dictated by debt’
The spending attitudes of British men have been affected by rising UK debt levels, reports suggest.
Bharat Book states that consumer expenditure dropped significantly after interest rates rose, as more people began to save.
This trend was particularly prominent among male consumers, who typically carry higher levels of debt and have greater concerns over repayments, the […]
Debt ‘could have considerable impact on mortgages’
Personal debt could have a major impact on the performance of the mortgage market, according to latest research.
A report from Datamonitor on the housing market suggests that the industry’s “outstanding” performance last year could lead to a crash.
However, lenders reacting to consumer debt by issuing sub-prime mortgages could have a major impact on the […]
320 people refused credit per hour
About 320 people are being refused credit by lenders each hour, according to latest research.
Data from MoneyExpert.com has found that 1.39 million people had loan applications rejected in the last six months, suggesting that providers are “getting tough” with applicants.
Sean Gardner, chief executive of MoneyExpert.com, said that consumers should be wary when seeking loans […]
Britons to be charged ‘millions’ for credit cards abroad
Britons are to face a collective total of £355 million in credit card charges when they use their cards overseas this year, according to new research.
Data from uSwitch reveals that UK travellers will be levvied £204 million on credit card purchases and £151 million on withdrawing money from machines when overseas.
Fees charged include exchange-rate […]
Consumer Credit Act to protect debt-ridden
Parts of the new Consumer Credit Act came into effect over the weekend, which will allow borrowers to take complaints about licensed lenders to the Financial Ombudsman Service.
In what has been described as the “biggest shake-up” in consumer protection law in 30 years, the new regulation will allow consumers to challenge unfair credit arrangements […]