According to Fionnuala Earley, chief economist of Nationwide, despite the absence of a further rate rise in February, recent interest rate rises are causing a reduction in interest from prospective homebuyers. With house prices rising to £174,706 in February there…
According to analysts at Citigroup, lenders will be forced to write off a total of £6.6 billion for last year, with the figure rising to £7.2 million in 2007, the Times reports. And because the amount is caused by credit…
Continue reading the "Brits default £6.6bn of debt, says bank" »
According to data from the British Bankers’ Association (BBA), new credit card debt in the UK decreased by £496 million, against a rise in mortgage borrowing which totalled £16.6 billion. While this was a 15 per cent increase in mortgage…
Continue reading the "January’s credit card borrowing reaches £7.24bn" »
Consumers looking for a debt consolidation solution could find such loans a short-term answer to their problems since they offer lower repayments and save people from bankruptcy, claims Credit Cards GB. In addition, the firm notes that credit card consolidation…
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In the past four months fewer people have entered into IVA agreements with creditors as a result of an overall stabilisation in personal debt levels, according to PricewaterhouseCoopers (PwC). The accountancy firm, which considers about 50 per cent of IVA…
Over a third of respondents to a survey of people seeking debt advice revealed that they blamed money problems for ruining a relationship with a former partner, while ten per cent said they divorced or separated for similar reasons. And…
Continue reading the "Personal debts ‘affecting home and working lives’" »
Mrs Robinson was responding to uSwitches’ own research which reveals that there are over 750,000 female Brits who spend half of their borrowed cash on fashion purchases in search of a retail thrill. And with their levels of credit card…
Continue reading the "Shopoholic Brits getting deeper in debt" »
This figure equates to around one in seven of the adult population of the UK and the Money Expert research also demonstrates that unsecured borrowing is the most popular kind of loan taken out under these circumstances. Describing its own…
Continue reading the "Six million Brits opt for debt consolidation loans" »
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