Northern Rock and Liverpool Victoria have both raised their APRs to above six per cent following this month’s base rate rise by the Bank of England. The news could spell trouble for consumers seeking to borrow money without landing themselves…
Continue reading the "Lenders dropping out of ‘cheap loans’ market" »
Suman Antcliffe, money adviser at Citizens Advice in Burton upon Trent, told the Observer that he has seen money lent to individuals who have little or no chance in repaying their loans. She said that she has successfully taken several…
Continue reading the "Banks’ lending criteria “appalling”, says expert" »
Research from the Debt Counsellors states that more than 41 per cent of people looking for help with their repayments owe money spent on store cards. It added that the combined value of transactions made on store, debit charge and…
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About 16 million people in the country made a resolution at the start of the year, with two-fifths saying they intended to get out of the red. However, more than a quarter (27 per cent) fail to stick to these…
Continue reading the "New Year’s financial resolutions ‘falling by the wayside’" »
A study from Money Shop found that 58 per cent have borrowed money from their parents in the last 12 months. However, only two in five of these people have paid back the full amount, with £275 being the average…
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Consumers are borrowing 49 pence for every pound they save, suggests the data from unbiased.co.uk. It adds that despite the £31.7 billion put away between July and September last year, consumers are “continuing to rely on borrowed money”. David Elms,…
Continue reading the "British savings culture ‘hampered by debt’" »
Rightmove’s warning follows the latest 0.25 per cent hike in the base rate – the third such occurrence since August. The firm acknowledged that the rate rises were partly in response to rising property prices but cautioned that driving up…
Continue reading the "Rising rates ‘very painful’ for homeowners" »
– most of whom are single women – many chose not to do so because of the social stigma. This is in contrast with new research by the Bank of England that found people are much more likely to go…
Continue reading the "Stigma preventing necessary bankruptcy, says CCCS" »
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