According to JP Morgan, a quarter of 18 to 34-year-olds would opt out of the government’s proposed National Pension Savings Scheme to pay off short-term issues such as debt or even pay for a holiday. “The statistics show that young…
According to Lloyds TSB research, consumers are worried that the base rate will rise from its current 4.5 per cent in the near future, pushing up the amount many will have to repay on loans. “It is not what rates…
Figures from the Council of Mortgage Lenders (CML) show that the non-conforming market is growing at six times the speed of the regular market. As large debt levels force people to look for alternatives to traditional mortgage options, the non-conforming…
Continue reading the "Debt drives non-conforming mortgage market" »
The bank’s monetary policy committee (MPC) voted to keep the base rate at 4.5 per cent rather than raising it as feared, which would have increased the amount people would repay on loans. Last month Bank of England governor Mervyn…
Continue reading the "Borrowers relieved with no rate change" »
While both the UK and the US are facing spiralling personal debt levels, IVAs, which are not available in the US, have been welcomed as a good way to tackle serious debt without declaring bankruptcy. “In the UK individuals have…
Kate Barnham has set up a website to allow students to live rent-free in another family’s home while their child is at university. Explaining the move, Mrs Barnham told the Argus: “I was worried about Tom’s student debt, especially with…
Continue reading the "Mothers make plan to help student debt" »
On top of year-on-year growth in customers, there was also a one per cent rise in the volume of credit being taken out by borrowers. The home credit market is currently under investigation from the Competition Commission after the National…
According to AFX News, the committee said that debt among Britons was a “cause for concern” and that it was often the case that a “highly pressured marketing environment” was forcing lenders to target borrowers with insufficient explanation of financial…
Continue reading the "Peers worried about consumer credit directive" »
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