Home loan borrowing activity in the UK is set to slow over the course of 2008, according to the latest assessment of the Council of Mortgage Lenders (CML). The council has revealed that the scale of lending among its members…
Homeowners around the UK are being hit by “staggering” mortgage fees, it has been claimed. According to research by uSwitch.com, the average amount charged in fees by lenders is around £1,000 and in many cases this figure doubles when added…
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Halifax, which is the biggest mortgage lender operating in the UK, has revealed its decision to increase the interest rates on its home loan deals. With millions of people struggling to become debt free, many had hoped that the financial…
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Financial problems among British consumers are testing family ties by forcing three generations to live under the same roof, new research has suggested. A study carried out recently by Prudential has shown that a third of all parents expect to…
The government has been called upon to take action that would help British consumers avoid seeing their debt management problems spiral out of control. Vince Cable, economic spokesperson for the Liberal Democrats, is convinced that prime minister Gordon Brown and…
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Many young British consumers have been struck with fear over the state of the economy and the prospect of recession, according to recent research. Debt management problems are squeezing thousands of young families and economic issues are taking their toll…
British banks are running scared and behaving like children, according to Ralph Silva, a business analyst with the TowerGroup. Mr Silva has insisted that money received by financial service firms from the Bank of England is being carefully guarded when…
Britain did a “deal with the debt devil” that has been partly to blame for the extent of the country’s current economic problems, it has been claimed. Stephen King, managing director of economics at HSBC, has maintained that the ease…
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