Under the new banking code introduced last month lenders are required to address the issue of responsible lending, with the British Banker Association (BBA) championing the changes. The move to self-regulate the industry is indicative of a wider willingness to…
Continue reading the "Debt problems – Bankers move to curb debt problems" »
The sample of under-30s surveyed gave an average amount of £1,073 owed per person in credit card debt, below half of the average debt incurred by 30-50 year-olds. The under-30s made greater use of overdrafts, with 51 per cent using…
Continue reading the "Under-30s avoid credit card spending but spread debts" »
Although it is not difficult to equate the enormous increase in online gambling with an growth in people seeking help to clear debt racking up on credit cards, US specialists are also warning of growing problems in internet and computer…
The lender has launched the ‘Buy for Uni’ mortgage, a 100 per cent loan, after discovering through research that there is apparently little difference between average student rents and average mortgage payments in Bath. The building society’s target customers are…
Bradford & Bingley’s Duncan Pownall, who runs the mortgage development sector at the lender, said that even though increasing numbers of young people were in debt it did not mean they would be unable to borrow money. Citing new research…
Andrew Smith, marketing director of the debt assistance firm ClearDebt, commented that a reduction in IVA fees for those seeking to pay off smaller debts could make the IVA an option for more people. The debt advice bureau points out…
Continue reading the "Low IVA fees could help many to become debt free" »
The Office of Fair Trading (OFT) has called for a cut in credit card operators’ charges after an investigation into the industry. Comparisons reveal that almost all mainstream credit providers charge £20 to £25 for late or returned payments and…
Continue reading the "OFT credit ruling could spell end of low interest offers" »
The club is not alone in offering a personal loan, credit card and savings account to its fans, but the move into a ‘one-stop’ financial shop is thought to be a first for the market. Accessing the website, which is…
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