News Archive From December 2006

• Not all consumers are helping themselves with consolidation loans [31.12.06]
  Recent data has shown that some consumers are making their already worrying financial situation even worse by taking out a consolidation loan to pay off all of their smaller debts, but then failing to close other accounts and re-spending on them, placing them in an even higher level of debt than they were in before consolidating their finances.
• Could a consolidation loan help to ease the financial impact of Christmas? [29.12.06]
  Getting carried away with spending over the festive season is all too easy, and many people have used a number of credit cards to make purchases over the Christmas period, leaving them with high balances on a range of credit cards that charge extortionate interest rates.
• First time buyers find budgeting easier with a fixed rate mortgage [28.12.06]
  The recent interest rate rises enforced by the Bank of England has left a number of households and individuals struggling to keep up with their mortgage repayments.
• Could the UK’s debt crisis be easing? [27.12.06]
  Over the past year many have expressed grave concern over the rising level of consumer debt in the UK, with many households and individuals struggling with high levels of debt, and record number of bankruptcy and IVA applications being filed.
• Making mortgage applications with ease and convenience [24.12.06]
  In the past applying for a mortgage could be a real nightmare, and the effort involved in trying to find the right mortgage and get your application processed simply added to the stress of home buying.
• Long Term Mortgages Gaining Popularity With First Time Buyers [19.12.06]
  Following a recent survey, data has indicated that first time buyers are far more keen to lumber themselves with decades of debt rather than accepting a loan off a family member of friend in order to try and get on to the property ladder.
• Many UK Homeowners Don’t Benefit From Changing Mortgages [15.12.06]
  Recent research carried out into the habits of mortgage payers in the UK has revealed that there are many homeowners that are failing to cash in on potential savings on their mortgages through loyalty to their mortgage provider and in some cases due to apathy.
• Financing Christmas Could Cost More Than Anticipated [14.12.06]
  We all know that the cost of Christmas can be crippling, which is why so many people end up taking out a loan or clocking up debt on their credit cards in order to manage financially over the festive period.
• Value Of Mortgage Loans On The Increase [14.12.06]
  According to data released by the Bank of England, there has been a sharp rise in the number of borrowers taking out loans of around one hundred and fifty thousand pounds or more in order to fund a mortgage.
• 10 Years and 7 Months To Repay a £360 Credit Card Debt! [13.12.06]
  If someone told you that it would take you 10 years and 7 months to repay a credit card debt of a mere £360, you’d justifiably probably think they had been enjoying too much of the festive spirit. However, if you are the sort of person who is happy merely paying off the minimum balance on your UK credit card each month
• The Average Brit Is 15 Days Away From "Financial Meltdown" [12.12.06]
  New research recently published indicates that, if they were to lose their job or be unable to work during the Christmas festive season, the average UK household is now a mere 15 days away from financial meltdown.
• Fixed Rate Mortgage Applications Continues To Rise [10.12.06]
  According to recent statistics, the number of consumers in the UK that are taking out fixed rate mortgages over variable rate ones has risen, and this suggests to many homebuyers are concerned that the interest rate set by the Bank of England is set to rise again.
• Fears Of Housing Market Crash Among UK Residents [09.12.06]
  Recent research has revealed that almost a quarter of UK adults anticipate the housing market in the UK will crash within the next 18 months.
• HSBC Concerned Over UK Debt-Crisis [08.12.06]
  The UK’s largest bank, HSBC, believes there is no indication that the recent trend among UK consumers choosing bankruptcy over clearing their debts is abating.
• More families could own a share in their own home in the future [07.12.06]
  The enormous rise in property prices in the UK over recent years has resulted in many people being unable to afford to get onto the property ladder, which has caused much concern amongst struggling first time buyers.
• Doorstep Lending to Become More Transparent [06.12.06]
  New guidelines released last week should see the UK’s home credit market (also known as doorstep loans) become more transparent resulting in customers having a clearer understanding about the credit they are borrowing. The UK doorstep lending market will also see an increase in competition as lenders battle for customers who are seeking unsecured personal loans.
• Mortgage approval figures indicate market not hit by interest rate rises [05.12.06]
  Recent figures that have been released in relation to mortgage loan approval rates in the UK have indicated that there has been no adverse effect on the property buying market as a result of the recent interest rate hike of a quarter of a percent.
• More UK consumers funding home improvements with unsecured loans [04.12.06]
  According to a new survey carried out by Moneyexpert, more and more people in the UK are spending money on home improvements, with many of these consumers obtaining the cash that they need to carry out the works in the form of an unsecured loan.
• Make Sure You Shop Around For Your Christmas Loan [01.12.06]
  Around twenty five percent of Brits will be taking out finance such as a personal loan in order to deal with the cost of Christmas this year according to the results of recent surveys, and experts have warned that in light of this information consumers should shop around for a good deal on a loan as quickly as possible.
• Many Loans Taken To Pay For Luxuries [01.12.06]
  Two surveys carried out into the spending trends of consumers in the UK has revealed that many people are now taking out loans to finance luxury purchases rather than as necessities.