According to the website, the number of lenders offering personal loans with interest rates of six per cent or less has halved over the past year, while the average rate across the whole loans industry has risen to 10.98 per…
Continue reading the "‘Take out cheap loans before they disappear’" »
According to Moneysupermarket, a late payment could result in a damaged credit profile, a loss of all introductory card benefits and interest charges of around £280. The price comparison site found that 62 per cent of cards that offer a…
Continue reading the "Watch out for cards ‘with a sting in their tail’" »
Research by Moneyfacts has revealed that on a three-year £5,000 loan, only four lenders still offer rates below six per cent, while more than 40 per cent of the market charge eight per cent or more; a further 16 per…
Research from Abbey has revealed that one in five potential first-time buyers would move back in with their parents in order to save money to afford a mortgage. Half would abstain from alcohol and holidays to keep their savings intact,…
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Associate director Chris Tapp said that debt problems are becoming increasingly apparent to today’s consumers, which means that borrowers are a lot more cautious about the amount they borrow on credit. His comments follow research by UK payments association Apacs,…
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The latest Personal Credit Index from CreditExpert shows that a quarter of UK couples argue about money, with at least two million relationships falling apart in recent months because of this issue. Research also shows that 18 to 34-year-olds are…
The impact of three increases in interest rates since August will worsen the condition of many Brits who are struggling with mortgage payments and unsecured debts, said Howard Archer, from analysis firm Global Insight. He told the Guardian that consumers…
Continue reading the "‘Affordability likely to worsen for borrowers’" »
According to the government’s Insolvency Service, the total number of bankruptcies, insolvencies and individual voluntary arrangements in the final quarter of 2006 totalled 29,804. This is a 44.1 per cent increase on the same period in 2005. Pat Boyden, from…
Continue reading the "More than 100,000 chose insolvency in 2006" »
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