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 [...]
House prices fell by 1.2pc in August, wiping more than £2,000 off the cost of the average home, according to the latest housing data from the Halifax. This ends a three-month run of modest rises, but on an annual basis the cost of the average home has slipped by 2.6pc over the past year. This [...]
Two million people have used their credit card to pay their mortgage or rent, up 50 per cent in a year, charities have warned. The survey by Shelter shows the drastic measures households are taking to keep a roof over their head amid a sharp rise in the cost of living. The charity predicted many [...]
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 [...]
Britain is stuck in a ‘mortgage famine’ as latest figures show the number of loans approved for those buying a new home fell to a 16-month low. A total of just 31, 767 mortgages for house purchases were approved in August, the lowest level since April last year, according to the British Bankers’ Association It [...]
UK Government borrowing fell sharply in July, although the country continued to sink further into debt. The Government borrowed £3.8bn over the month, down from £14.7bn in June, £18.4bn in May and 6.1bn in July last year, according to figures from the Office for National Statistics (ONS). It brings public borrowing for the four months [...]
Britain faces a weaker economic recovery and higher inflation for longer than previously hoped, the Bank of England forecast today. Economic expansion will peak at 3pc next year, weaker than the 3.6pc the Bank was expecting just three months ago. Today’s Inflation Report also forecast that the level of prices will remain above the Bank’s [...]
The number of people declared insolvent has risen as the credit crisis marks its third anniversary. A total of 34,743 people were declared insolvent during the three months to the end of June, 5 per cent more than during the same period a year earlier, according to the Insolvency Service. The figures are lowered than [...]
Naomi Campbell, the model, admitted that she was given “dirty rocks” by the former Liberian ruler Charles Taylor as she gives evidence at his war crimes trial. She told the court she handed the gems to a colleague and told him to “do something good with them”. She said she had wanted them to be [...]
A proposed limit on contributions could hit even those earning modest salaries. On the same day that BP revealed that its beleaguered chief executive, Tony Hayward, would walk away with a £600,000-a-year pension, the Government unveiled plans to severely restrict the amount of money people can save tax-free into one. The Treasury is proposing an [...]
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