Child debts mount
Fee levels have risen by an average of 43 per cent since 2000, while earnings have risen by an average of 24 per cent in the same period, Halifax claims. Halifax’s chief economist, Martin Ellis, commented: “The rapid rise in…
Holiday debt nearly £100bn
In the Axa poll, Britons spent £97.3 billion on holiday and new clothing accounted for much of this, even more than tours, excursions and car hire combined. Britain and Ireland were the most popular destinations, serving as the destination for…
Positive outlook for future despite debt fears
According to Prudential, Britain’s younger generation is hoping for a sensible retirement, possibly because debt is knocking back the prospect of a retirement of world cruises. Ali Crossley, Prudential UK’s director of lifetime mortgages, said that it was good that…
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Credit card debt help
The bank’s Flexi-Rate card charges lower interest to consumers who pay off more of their outstanding balance each month in a move which could help many clear debt. In addition to paying a lower interest rate on outstanding balances, the…
Debt making students live at home
In the NatWest survey, over a fifth of students now live at home, an increase of a third in just a year, with 71 per cent of students fearing that “money will be very tight”. “Concern over the cost of…
Bank maintains rate
Milan Khatri, chief economist at the Royal Institute of Chartered Surveyors (Rics), commented that an increase next month – and with it an increase in debt repayment for mortgages linked to the rate – is “firmly on the cards”. He…
Graduates downbeat about housing prospects
In Scottish Widows’ survey of graduate first-time buyers (FTBs), debt is driving many to buy a home jointly with a partner, but over two-thirds would not be able to buy them out if things go wrong. “For graduates to stand…
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1m taking advantage of better financial management
According to the British Bankers’ Association (BBA), this figure is a “milestone”, an indication that many people are taking the first steps to better financial management. A bank account allows consumers to keep better track of their finances, vital for…
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