The average owed for each year of study now stands at £3,103 according to LloydsTSB and Push, a nine per cent drop on last year’s figures. “This year’s debt fall probably indicates some belt-tightening on the part of today’s students,”…
Howard Archer, senior UK and European economist at Global Insight, said that this month’s increase had not had the full effect that the Bank of England hoped for. Also to blame were rising debts, fuel prices, bills and university tuition…
Continue reading the "Economist predicts further rate rise" »
Residents spend 97 per cent of their income on basics such as council tax, utility bills, travel expenses and repaying debt, the YouGov poll found, beating London. Commenting on the findings, Combined Insurance spokesman Nigel Brittle said: “When monthly income…
Robert McKinnie hanged himself at his Isle of Wight home in February after he received around 15 calls per day from banks demanding repayment for debt. “They were aggressive, threatening calls, threatening him that he would lose his home and…
According to statistics from price comparison website moneysupermarket.com, a tenth of Britain’s cardholders are facing a bill of £120 million in interest charges. Rob Kenley, head of credit cards at the website, said: “Our research should provide consumers with the…
Continue reading the "Millions go missing from credit card mismatch" »
Over the next ten years, Skandia predicts 4.2 million graduates will have a combined debt of £71 billion as the government expects the average student to graduate owing £15,000. “[University] should form the start of a long and fulfilling career,…
Continue reading the "Parents need to plan a decade in advance" »
According to the NatWest poll, this translates into a graduation debt of £14,779, over £1,000 more than graduates owed last year. However, Mark Worthington, head of NatWest student and graduate banking, saw hope in the findings: “Despite the anticipated cost…
With interest rates rising, many people are thought to be taking out loans just to pay the interest on their mortgage, meaning that they could be setting themselves up for repossession if they hit a financial crisis. “Consumers can soon…
Continue reading the "Repossession risk of interest-only mortgages" »
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