One in seven Britons has turned to credit such as a payday loan or unauthorised overdraft to help cover their rent or mortgage in the last year. Shelter, who carried out the research, has warned that relying on such methods could lead to people losing their homes. The figure equates to almost seven million people [...]
The Office of Fair Trading is taking action against a number of payday loan companies after complaints about these short-term loans doubled in the space of a year. The OFT has not named the companies involved, but said it was concerned firms were not checking whether customers could afford to repay these debts or explaining [...]
The dire state of many Britons’ personal finances has been underlined by new research that shows 3.5m people are considering taking out payday loans over the next six months. Concern over personal debt has reached the highest level since insolvency body R3 began making records, it said yesterday as it warned of “zombie debtors” who [...]
According to official monthly data, published by the Bank of England, the average rate offered on a two-year fixed rate mortgage to those home owners with a 25 per cent deposit, was 3.36 per cent, during June. This was down from 3.51 per cent the month before and 3.67 per cent a year ago and [...]
Britons spend the first 45 days of the year paying off just the interest on their debts, according to the new research. It means that tomorrow is so-called Debt Freedom Day – the day when borrowers become free of paying the interest on their debts and can finally begin re-paying the actual debt itself. It [...]
Pawnbrokers will see the amount they loan increase by almost 80pc this month as cash-strapped Britons struggle to pay for their Christmas spending. According to the National Pawnbroking Association and borro.com, an online pawnbroker, the 79pc rise in loans in January is down to a number of factors, including the impending ‘Blue Monday’, the third [...]
House prices are to edge lower at the beginning of 2011 after falling 2 per cent this year, estate agents have warned. The Royal Institution of Chartered Surveyors said the overall outlook for the housing market in 2011 is likely to be the same as this year, with much resting on the economic outlook and [...]
The house price gains seen at the beginning of this year have been totally wiped out, figures by Nationwide have revealed. Britain’s biggest building society said the average price of a home dropped 0.3 per cent in November, the equivalent of almost £1,000 in a month. It brings the average price of a home to [...]
Protestors against the rise in Tuition fees have scuffled with police for the second time in a fortnight. Thousands of students across the country took part in marches and gatherings to oppose Coalition policy. Demonstrators smashed the windows of a police van in Whitehall and scrawled slogans across its doors and a number of bottles [...]
The public supports a rate cap, but it would be a simplistic measure to a complex problem. We all know that the poor pay more for everything but the unresolved question is – what do we do about it? This week’s YouGov omnibus survey for Compass appeared to find overwhelming public support for a cap [...]
© 2009
Finance Behavior. All Rights Reserved. Terms under which this service is
provided to you. Privacy Policy. Advertising Practices. News, articles, advice and guides from everyday money issues to how to grow
your money. Covering all
aspects of personal finance, FinanceBehavior.co.uk
offers independent news and views and blogs.
