It is “essential” that borrowers take out some form of financial protection, which could help them with debt management if they were made redundant, it has been stated. Lucy Widenka, a personal finance campaigner for consumer body Which?, urged people…

Prepayment meters (PPMs) can help energy customers with their debt management, but they must not be used to “penalise” low-income households, it has been argued. Christine Quigley, a communications and campaigns officer for Transact, said that PPMs can be “extremely…

The need for people to be provided with debt advice has “never been greater”, it has been claimed. Beccy Boden Wilks, a spokesperson for the Money Advice Trust, revealed that the charity has received double the amount of calls it…

A new body set up to promote the credibility of the equity release industry has been welcomed by Safe Home Income Plans (Ship). Ship director general Andrea Rozario said that the creation of the Equity Release Solicitors’ Alliance is a…

A representative from the Council of Mortgage Lenders (CML) has offered homeowners some debt management advice. CML spokesperson Bernard Clarke said that making overpayments on a mortgage can have a “significant” influence on the length of the debt and the…

HSBC has revealed it is writing to 30,000 customers on tracker and variable-rate mortgages to explain the debt management benefits of making overpayments on their loans. It encouraged borrowers to maximise on the 3.5 per cent fall in interest rates…

Thousands of borrowers are working towards becoming debt free by making overpayments on their mortgages, it has been claimed. Lloyds TSB and Cheltenham & Gloucester (C&G) have revealed that many of their customers are taking advantage of the current low…

As the latest official inflation figures are released, it has been warned that the rate experienced by older people is much higher than the national average. Figures from the Alliance Trust Research Centre (ATRC) have shown that the level of…