In the wake of another increase in the cost of borrowing, the Tories insist that rising costs of living has been Gordon Brown’s legacy after ten years as chancellor of the exchequer. Citing figures from the Bank of England showing…
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…
Continue reading the "Citizens Advice: Rate rise could spell disaster" »
With the base rate of interest now standing at 5.75 per cent, Sean Gardener from MoneyExpert has advised homeowners to protect themselves against further hikes by securing a fixed-rate mortgage deal as soon as possible. Millions of households are already…
Continue reading the "New warning for indebted homeowners" »
With millions of consumers already facing debt management problems, the increase is set to further heighten the pressure on household finances. After the rate-setting monetary policy committee (MPC) voted five to four in favour of maintaining the base rate last…
Figures from Woolwich show that the average first time homebuyer in the UK is now being asked to hand over almost a third of their monthly income to meet mortgage demands. And the debt management problems are most severe for…
Continue reading the "Young homebuyers ‘face financial struggle’" »
Otto Thorseen told a conference in London that a variety of partnership arrangements and pilot programmes will aim to develop an effect strategy to help consumers handle their money more effectively and avoid debt management disaster. And Mr Thorseen indicated…
Continue reading the "New financial advice plans outlined" »
According to the organisation’s own research, one in five consumers who do assess their credit card reports finds that mistakes have been made and this can often lead to debt management problems. Which? explains that credit-scoring systems affect the interest…
Continue reading the "Which? issues warning over costly credit card mistakes" »
Rising costs of borrowing during the last year, utility bill increases and spikes in the price of petrol are all believed to have contributed to the gradual squeeze on household incomes nationwide, suggests the accountancy experts. Despite the increasing proportion…
Continue reading the "Debt repayment level hits record high" »
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