According to Macmillan Cancer Support, one in seventeen of the people diagnosed with cancer lose their home, while one in six has difficulties meeting mortgage repayments or rent. Worst affected were the self-employed, with a ninth of them losing homes,…
Both uSwitch and the Motley Fool called for lower charges and for disgruntled customers to reclaim unlawful charges from their banks. However, David Kuo, head of personal finance at the Motley Fool, said that customers should still be financially educated,…
Continue reading the "Groups call for lower bank charges following investigation" »
Over the penultimate quarter of 2006, almost a third of under-thirties were forced to use their savings in order to meet the payments of unexpected bills, Birmingham Midshares claims. “Our latest findings make for worrying reading as we move into…
Following proposals by the Treasury’s cash machine taskforce, the government will include a “financial inclusion premium” into the rules for Britain’s network of ATMs. This should lead to 600 new free-of-charge cashpoints appearing in some of Britain’s poorest areas, hopefully…
Continue reading the "Citizens Advice: Free cash machines good for poor" »
According to Sainsbury’s Bank, Britons spend £9.14 billion in the last week before Christmas but not everyone clears their credit card debt in January, adding to financial woes throughout 2007. “Credit cards can be a safe and convenient way to…
Continue reading the "Last minute Christmas shopping £9bn credit card debt warning" »
According to mform.co.uk, debt management is a problem for many due to the amount of mortgage repayments they make. Eamonn Rice, chief executive of the website, said: “Rising property prices means that homebuyers have to take out larger mortgages coupled…
Continue reading the "1.12m spend half of income on mortgage" »
This is largely due to the fact that, unlike those who own their home, people who rent do not have property to fall back on as collateral for secured debt. However, the bank’s poll found that most people are complacent…
The party added that personal debt was a major social problem and that official figures only showed the “tip of the iceberg” of Britain’s financial problems. According to the Social Justice Policy Group report, Breakdown Britain, a perceived lack of…
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