UK inflation rate hits 3.1%
As a result, the governor of the bank Mervyn King has been obliged to send a letter of explanation regarding the inflation figures of 3.1 per cent for March to the chancellor Gordon Brown. Mr King wrote in the letter:…
Jail for lender charging more than 1,500% interest
Lee Walker, 39, from Farmcote Road, was sentenced by the Birmingham Crown Court and his imprisonment was welcomed by consumer minister Ian McCartney. “It takes a real parasite to prey on the most vulnerable in our communities and bully and…
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Generic financial advisors ‘must be assessed’
The Chartered Insurance Institute (CII) suggests that only through appropriate evaluation of prospective generic financial advisors will the public be protected and assured of receiving a sound service. In addition, the CII is calling for the government’s financial and debt…
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NatWest slammed over foreign spending fees
According to uSwitch, the heightened costs, which could cause added debt management concerns for some UK consumers, are designed to “squeeze more money” from NatWest banking customers. NatWest has revealed that the cost of spending on one of its debt…
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Help offered to UK’s credit card consumers
Apacs, the UK payments association, has introduced the ‘understanding your credit card statement’ guide with the aim of explaining financial terms such as APR to those who may not be aware of the implications. Sandra Quinn, director of communications at…
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Brits face ‘inflated’ energy bills
The average consumer has not had their household energy bills cut in line with the money being saved by suppliers as a result of wholesale price reductions, the website asserts. And while debt management concerns continue to rise nationwide, Brits…
Baby boomers ‘having finances stretched’
Figures from Engage Mutual suggest that those aged between 55 and 64 are more likely to financially assist their parents and offspring than any other generation, which could push many people closer to debt management disaster. Around 25 per cent…
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Britain’s ‘affordability fears rising’
Money worries have seen fewer people opting to take out a mortgage in recent weeks and potential first-time buyers are among those being most commonly deterred from buying a house, Propertyfinder.com has revealed. Part of the problem for those looking…
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