Archives for October 2007
100 per cent mortgages ‘could lead to debt’
Article Category: Debt Management Help and Advice People considering taking out a mortgage with a 100 per cent loan-to-value ratio have been warned of the risks involved.Managing director of Key Financial Consultants Dominic Mansley said that, while such products may be suitable for newly-qualified professionals who are confident of future pay rises, less financial stable […]
British consumers ‘whittling away savings’
Article Category: Debt Management Help and AdviceUK consumers regularly risk their savings by dipping into funds, possibly hampering their debt management plan, it has been claimed.A new study from moneysupermarket.com has found that two-thirds of people who save would not think twice about withdrawing money for an unplanned treat - compared to 56 per cent […]
Mortgage borrowers ’squeezed’
Article Category: Debt Management Help and AdviceConsumers’ debt management capabilities may be hampered by higher borrowing costs, it has been claimed.Commenting on the latest mortgage lending figures from the Bank of England, head of mortgages at moneysupermarket.com Louise Cuming observed a "shrinking market".An erosion in consumer choice, with many Britons finding that there are few […]
Women ‘risking old-age poverty’
Article Category: Debt Management Help and AdviceWomen may be risking debt in later life due to a 13 per cent gender gap in pensions contributions, it has been suggested.New research from Scottish Widows shows the discrepancy between male and female retirement savings has expanded from eight per cent in 2006 to 13 per cent in […]
Young people ‘need financial education’
Article Category: Debt Management Help and Advice Young people want to learn about financial issues such as debt management, it has been claimed.Director of policy for the Personal Finance Education Group Alastair Mathews said that the costs of living for consumers who have recently turned 18 are higher than they were for previous generations, making […]
New parents ‘may risk debt’
Article Category: Debt Management Help and Advice Marketing pressures may be adding to the risk of debt for new parents, it has been claimed.New research from online bank Egg shows that 32 per cent of new mothers feels pressurised to spend money on certain brands, with 23 per cent feeling compelled to buy a designer […]
Bad debt ‘to heighten effects of credit crunch’
Article Category: Debt Management Help and Advice The issue of bad debt is set to exacerbate the effects of the credit crunch, according to a new report.A new study by Datamonitor has predicted that the UK consumer credit market will dip in 2007 before reviving slowly, from gross advances of £207.4 billion in 2006 to […]
Social networkers ‘may risk debt’
Article Category: Debt Management Help and Advice Employees are spending time at work on social networking activities instead of sorting out their finances, it has been claimed.According to AXA, workers spend an average of 14 hours a month - or 40 minutes of a working day - sending text messages and emails or visiting social […]
Using credit cards to make mortgage payments ‘could risk a debt problem’
Article Category: Debt Management Help and Advice People may risk debt if they use credit cards to make mortgage payments, it has been warned. Commenting on a recent study by YouGov that found about six per cent of respondents who paid mortgages or rent had relied on a credit card to meet these expenses, […]
Consumers ‘in the dark’ about debt
Article Category: Debt Management Help and Advice British consumers have a low level of awareness of their level of debt, one credit reference agency has asserted. Research from Callcredit found that some 60 per cent of UK consumers do not know how much they owe to creditors, while 15 per cent admit that they […]