In fact, according to the Consumer Credit Counselling Service (CCCS), the number of people in extreme debt has more than doubled in the year from 2004 to 2005, with 2.7 per cent of the CCCS’ clients owing £100,000 or more.…
Those heading into retirement are doing so with a debt burden hanging around the necks as more of their income is diverted towards paying for the essentials. As a result, some are being forced to take drastic measures, with five…
Different factors such as average income, unsecured debt, savings and mortgage balances were compared across England, France, Italy, Germany and Spain. While the English can boast the highest wage earners and also the highest level of deposit savings, they ranked…
Continue reading the "England left lagging on personal finance" »
Nationwide research shows that due to low interest rates, house prices and interest payments on mortgages are affordable for many, but mortgage providers are demanding too great a deposit or will not lend enough money. Fionnuala Earley, Nationwide’s group economist,…
Continue reading the "First time buyers are struggling to save a deposit" »
PPI has been widely criticised in recent months for failing to provide value for money, only increasing the amount of money that consumers have to pay and not providing sufficient protection in the event of something going wrong. But the…
Inflation currently stands at 2.2 per cent, two points above the BoE’s inflation target, prompting many to speculate about an impending interest rate, which would harm those with credit card and loan debts. However, Jonathan Said of the Centre for…
Continue reading the "Inflationary pressures unlikely to raise interest rates" »
MEAFs are the latest financial product to come under scrutiny, following concerns over credit card payment charges and payment protection. The FSA announced last September that it would be looking into the issue of MEAFs and whether or not consumers…
Continue reading the "FSA calls for mortgage fee investigation" »
The average cost of a wedding now stands at more than £17,000, but couples planning to tie the knot think their big day will set them back just £6,650, the Alliance & Leicester study shows. This gross misjudgement means some…
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