The market analyst company suggests that the increasing financial pressures on consumers looking to clear debt will drive the growth in the industry, which the Financial Services Authority (FSA) said last week showed “weaknesses in responsible lending practices”. Datamonitor forecasts…

Many mortgage borrowers are already stretched to their financial limits and the added pressure of heightened repayment rates in the wake of the increase could leave some homeowners at risk of repossession, the charity maintains. “A rise in mortgage interest…

The review from the Financial Services Authority found evidence of “poor practice” among a number of intermediaries and lenders, as well as some instances of irresponsible lending by firms operating in the sub-prime sector. And with thousands of people approaching…

A number of experts, including Global Insight’s chief UK and European economist Howard Archer, anticipate that when the bank’s monetary policy committee (MPC) meets this week they will vote to raise the base rate of interest to 5.75 per cent.…

Figures from MoneyExpert show that each month in the UK there are around 1.23 million household bills going unpaid and that during the last half-year over 7.4 million payment demands have been ignored nationwide. Council tax demands and mobile phone…

According to a Bank of England statistical release, total net-lending increased in May to £9.5 billion, higher than that of April 2007. The report also showed that the number of loans approved for house purchase increased to 114,000 while those…

Lloyds TSB has said that while 55 per cent say that they pay their bill as soon as they receive a red reminder, 27 per cent leave the bill for a further week before opting to clear debt from their…

Stephen Rose from the Debt Advice Bureau insists that spending as little as 20 minutes assessing the offers available could help consumers avoid thousands of pounds worth of credit card debt. Advice can be useful, Mr Rose maintains, but generally…