According to uSwitch, because many people received December’s pay before Christmas rather than in the final week, some households will have no choice but to default on their mortgage, council tax and household bills due to a lack of funds.…
Continue reading the "Poorest day of 2007 is January 17th, says uSwitch" »
Authorised overdraft interest rates increased from an average of 13.8 per cent to 15.1 per cent, while the average standard rate on a credit card increased from 14.8 per cent to 16 per cent. This means that more people are…
Continue reading the "Raised bank charges ‘bad news for customers’" »
Moneyextra said that in 2006, the average value of property searched on its mortgage comparison tool went up by 7.44 per cent to £223,310, while the average mortgage amount went up even more sharply at 8.91 per cent. Robin Amlot,…
Continue reading the "Britons chasing high prices despite debt" »
The retail price index, compiled by the Office for National Statistics, shows that inflation rose to 4.4 per cent in December the highest level since 1991. Another indicator, the consumer price index (CPI), which excludes council tax and housing costs,…
Continue reading the "Inflation figures spark off interest rate fears" »
Consumer campaigner Martin Lewis said that because December is the month when people accrue the most debt, January is the time that people start to worry about how to tackle their problem. Although one-to-one help is often not available until…
The team will research and design a national service that will enable all Britons to access impartial financial advice of a high standard. When the taskforce completes its work, the government will put forward an action plan detailing how financial…
Continue reading the "Financial capability taskforce launched" »
Users are invited to input their personal expenditures in order to obtain an estimate of how their experience of inflation is different from the official Retail Price Index (RPI). One of the reasons the ONS created the calculator was because…
Continue reading the "ONS invites public to measure personal inflation" »
Equifax has said that following the Bank of England’s decision last week to raise interest rates by 0.25 per cent, consumers need to be better financially prepared for the year ahead. The three rises in the official cost of borrowing…
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