Figures from Woolwich show that the average first time homebuyer in the UK is now being asked to hand over almost a third of their monthly income to meet mortgage demands. And the debt management problems are most severe for…
Continue reading the "Young homebuyers ‘face financial struggle’" »
Otto Thorseen told a conference in London that a variety of partnership arrangements and pilot programmes will aim to develop an effect strategy to help consumers handle their money more effectively and avoid debt management disaster. And Mr Thorseen indicated…
Continue reading the "New financial advice plans outlined" »
According to the organisation’s own research, one in five consumers who do assess their credit card reports finds that mistakes have been made and this can often lead to debt management problems. Which? explains that credit-scoring systems affect the interest…
Continue reading the "Which? issues warning over costly credit card mistakes" »
Rising costs of borrowing during the last year, utility bill increases and spikes in the price of petrol are all believed to have contributed to the gradual squeeze on household incomes nationwide, suggests the accountancy experts. Despite the increasing proportion…
Continue reading the "Debt repayment level hits record high" »
The review from the Financial Services Authority found evidence of “poor practice” among a number of intermediaries and lenders, as well as some instances of irresponsible lending by firms operating in the sub-prime sector. And with thousands of people approaching…
Continue reading the "Citizens Advice welcomes sub-prime review" »
Paying off as many debts as possible would be a good starting point for a financial restructuring and cutting out unnecessary expenditures could limit the impact of an increase in the base rate of interest, suggests the price comparison service.…
Continue reading the "Consumers urged to reshuffle finances" »
Research by moneysupermarket.com has discovered that close to 29 per cent of UK homeowners do not assess the mortgage deals available to them when renewing an arrangement and instead keep faith with their current lender. Furthermore, the price comparison firm…
Continue reading the "Mortgage borrowers ‘missing cheapest deals’" »
With millions of consumers already facing serious debt management difficulties, a study by retirement specialist Tomorrow has shown that 59 per cent of Britons in their 20s have no plans to start adding to a pension funds. Indeed, one in…
Continue reading the "Report points to trouble for young consumers" »
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