In a reiteration of its stance on the issue, Which? has said that bank charges should not only be fair but should reflect the true administration costs. The consumer group, which calculated that bank customers pay £4.7 billion each year…
Continue reading the "Bank charges ‘unfair, arbitrary and disproportionate’" »
A report by the University of Salford suggests that if housing associations reduced the amount of unpaid rent owed by a tenant they are less likely to rely on non-mainstream forms of credit. This actually helps landlords because it means…
Continue reading the "Financial inclusion ‘good news for tenants and landlords’" »
Realising that mortgages account for £1,000 billion of this debt mountain, the charity has expressed concern that people are taking on home loans that are too much for them, reports Associated Newspapers. Including mortgages, the average amount owed by every…
Continue reading the "Mortgages ‘to blame’ for huge debt mountain" »
MyCallcredit has said that £11.4 billion was spent by 31 million credit card users over the festive period and has recommended that borrowers aim to repay more than the minimum balance and to pay off cards with the highest interest…
Continue reading the "Credit card holders face “payback time”" »
According to uSwitch, because many people received December’s pay before Christmas rather than in the final week, some households will have no choice but to default on their mortgage, council tax and household bills due to a lack of funds.…
Continue reading the "Poorest day of 2007 is January 17th, says uSwitch" »
Authorised overdraft interest rates increased from an average of 13.8 per cent to 15.1 per cent, while the average standard rate on a credit card increased from 14.8 per cent to 16 per cent. This means that more people are…
Continue reading the "Raised bank charges ‘bad news for customers’" »
Moneyextra said that in 2006, the average value of property searched on its mortgage comparison tool went up by 7.44 per cent to £223,310, while the average mortgage amount went up even more sharply at 8.91 per cent. Robin Amlot,…
Continue reading the "Britons chasing high prices despite debt" »
The retail price index, compiled by the Office for National Statistics, shows that inflation rose to 4.4 per cent in December the highest level since 1991. Another indicator, the consumer price index (CPI), which excludes council tax and housing costs,…
Continue reading the "Inflation figures spark off interest rate fears" »
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