In the Scottish Widows poll, 73 per cent of 18 to 24-year-olds were worried about their financial future and 41 per cent think that they are less prepared than their parents. George Andrew, consumer affairs spokesman at Scottish Widows, commented:…
Council of Mortgage Lenders (CML) data shows that the average first-time buyer (FTB) borrowed 3.24-times their income, the highest level ever, leading to a change in how a loan is calculated. “Research by Moneyfacts found five of the top ten…
Continue reading the "House prices forcing Britons to borrow more" »
According to Nationwide, its latest consumer confidence index is still “well below” the two-year average despite a slight increase, with debt worries helping to contribute to this pessimism. “Consumer confidence remains low and, despite improving, has not recovered fully since…
Continue reading the "Debt still keeping consumers gloomy" »
John Porter, a senior counsellor with the Debt Counsellors, urged people to take out advice on becoming debt free to stave off the threat of bankruptcy as figures show a rise in average debt levels. “Not only are the personal…
The deadline to register with your local council is October 10th and electoral registers are referred to by credit agencies when determining whether to grant someone a loan and at what rate. “Some organisations will refuse to give you credit…
Continue reading the "Deadline to help credit rating nears" »
Spreading payments can add over a third of the total cost of the policy, MoneyExpert stated and only 14 per cent of insurers allow policy holders to pay by direct debit at no extra charge. Sean Gardner, chief executive of…
Continue reading the "Car insurance driving people further into debt" »
According to the financial comparison website, average house prices – and therefore monthly mortgage repayments – have trebled in the past decade, while earnings have only doubled. “The net effect is that mortgage payments take a much bigger chunk of…
Continue reading the "Moneyfacts: Mortgages fuelling debt crisis" »
Ann Pettifor, executive director of Advocacy International, claims that people are too complacent about job security to realise that if there is a change in personal circumstances, they could risk bankruptcy. “We pay our debts through our incomes; it’s when…
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