Archives for 5 October 2007
Parents ‘risking debt to help children’
Article Category: Debt Management Help and Advice
Students’ parents are risking putting themselves into debt in order to assist their children’s financial standing, it has been revealed.
Research conducted by saving solutions provider the Children’s Mutual show that almost two-thirds of parents plan to fund their offspring through university.
And one in three say they would be willing […]
‘Credit card management risk’ for postal strike
Article Category: Debt Management Help and Advice
The potential postal strike could hamper credit card management efforts, according to the UK payments association.
Apacs advises consumers to ensure their monthly repayments are accepted if they are delayed in the post.
Britons are told to contact their lender in light of the planned six-day strike from October 4th to […]
Mortgage customers ‘facing higher rates’
Article Category: Debt Management Help and Advice
Homeowners are facing higher mortgage rates in light of the six-and-a-half-year high level of the base rate, it has been claimed.
Figures published earlier this week by the Council of Mortgage Lenders (CML) showed the typical monthly repayment could have been lowered by about £20 if the Bank of England […]
Rate fix ‘adding to mortgage debt’
Article Category: Debt Management Help and Advice
Maintaining the base rate of interest at 5.75 per cent is adding to Britons’ communal mortgage debt, it has been warned.
Figures from the Council of Mortgage Lenders (CML) assess the impact of the Bank of England’s decision to hold the current rate.
The calculations are based on average mortgage repayments from […]
House prices ‘obstacle to affordability’
Article Category: Debt Management Help and Advice
Spiralling house prices remain a barrier to affordability in many parts of the UK, it has been claimed.
Fionnuala Earley, chief economist at Nationwide, makes the comments in light of the latest house price survey from the financial services provider.
She notes that house prices continue to rise in all areas […]
‘Minority’ of old people facing bankruptcy
Article Category: IVA (Individual Voluntary Arrangement) Help and Advice
A proportion of elderly people could be facing bankruptcy, according to Saga.
The provider of financial services to the over-50s asserts that half of the nation’s wealth is held by the over-65s.
But among the demographic group, there may be individuals facing bad debt, a spokesperson notes.
“The danger comes […]
Abcul: No such thing as free credit
Article Category: Debt Management Help and Advice
Britons should be aware that no credit comes free of charge, the Association of British Credit Unions (Abcul) warns.
Head of membership services Lucia Webster urges consumers to consider their borrowing and ensure they live within their means to avoid debt.
She adds that credit unions encourage such behaviour as “they […]
Premium bonds ‘no way out of bad debt’
Article Category: Debt Consolidation Help and Advice
Consumers facing bad debt should not expect to win their way back to a secure financial situation, it has been suggested.
Meera Patel, senior analyst at asset management firm Hargreaves Lansdown, asserts that there is a “very low” chance of winning the jackpot.
But with over a million other cash prizes, […]