In the Halifax report the average home spends five per cent of its disposable income, or £34.42 per week, on clothing, adding to credit card debt. Peter Jackson, head of products at Halifax, urged people to be careful with their…
According to Bradford & Bingley, within two generations parents will not be able to rescue children from debt due to financial problems of their own and the rising cost of property and university fees. Steve Potter, head of savings for…
According to the Lincoln Financial Group, 51 per cent of home owners claim that their house was their major pension asset. Ian Noble, head of strategic partnerships at Lincoln Financial, said: “We all know the phrase ‘safe as houses’ but…
The National Federation of SubPostmasters along with the Royal Bank of Scotland (RBS) and NatWest are to install up to 300 machines to allow free access to savings. Gordon Pell, chief executive of retail markets at RBS, said: “Lack of…
Thanks to IVA expansion, Becky Wilks, spokeswoman for National Debtline, said that banks are sharing information as they realise the scale of lending. “One move that has happened recently is that creditors have now said that they will exchange more…
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Moneysupermarket.com claims that Britons could save up to £2 billion on credit card debt interest in 2007 by applying for an interest free card now. Robert Kenley, head of credit cards at moneysupermarket.com, warned that consumers should exercise proper debt…
According to HSBC, delaying starting a retirement fund until the age of 30 can mean that a pension is half of what one could get if saving starts at 21. Ian Martin, head of pensions and retirement income at HSBC,…
According to Ernst & Young, an increase to five per cent is needed to control inflation, but this could push homeowners further into debt by increasing mortgage repayments linked to the Bank of England rate. Peter Spencer, chief economic adviser…
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