In a move that has been welcomed by the industry, the FSA initiative should ensure that consumers end up with better information and care to help keep them out of debt. “Anything that makes things clearer for the customer and…

Mervyn King, governor of the Bank of England, said that inflation was still too high, prompting fears that the rate could rise to five per cent before the end of the year. “The anticipated fall in inflation for September may…

According to Moneyfacts.co.uk, only three cards have no balance transfer fee, so people hoping to switch to cards to take advantage of interest free deals are set to pay the price for transferring debt. Michelle Slade, personal finance analyst at…

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 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…

Milan Khatri, chief economist at the Royal Institute of Chartered Surveyors (Rics), commented that an increase next month – and with it an increase in debt repayment for mortgages linked to the rate – is “firmly on the cards”. He…

According to the British Bankers’ Association (BBA), this figure is a “milestone”, an indication that many people are taking the first steps to better financial management. A bank account allows consumers to keep better track of their finances, vital for…

According to Direct Line, the average child’s room is worth £1,498, mostly due to electronic goods, yet many of these are rarely used. “As parents know all too well, kids need to have the latest electronic goods in order to…