Jim Spowart, the man behind the Standard Life and Intelligent Finance banks, called for action to tackle credit card debt built up by expensive cards. “Credit cards are an essential part of our everyday lives but there is no justification…
Yorkshire Bank claims that rather than putting people off buying a home, the interest rate has merely meant that people with a loan or mortgage linked to the rate are paying more each month. “Normally you would expect that with…
According to a MoneyExpert report, the average rate of interest paid on packaged bank accounts equates to only 1.5 per cent once charges are considered, well below the Bank of England rate. While these premium deals claim to offer perks…
Continue reading the "Neglected account deals costing customers" »
According to the BBA poll, debt through overdrafts has risen by a tenth last year to £8.8 billion and the association warned that bad debt from other firms could be having a knock-on effect. “One reason likely to take an…
Fee levels have risen by an average of 43 per cent since 2000, while earnings have risen by an average of 24 per cent in the same period, Halifax claims. Halifax’s chief economist, Martin Ellis, commented: “The rapid rise in…
In the Axa poll, Britons spent £97.3 billion on holiday and new clothing accounted for much of this, even more than tours, excursions and car hire combined. Britain and Ireland were the most popular destinations, serving as the destination for…
According to Prudential, Britain’s younger generation is hoping for a sensible retirement, possibly because debt is knocking back the prospect of a retirement of world cruises. Ali Crossley, Prudential UK’s director of lifetime mortgages, said that it was good that…
Continue reading the "Positive outlook for future despite debt fears" »
The bank’s Flexi-Rate card charges lower interest to consumers who pay off more of their outstanding balance each month in a move which could help many clear debt. In addition to paying a lower interest rate on outstanding balances, the…
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