Archive for the ‘News’ Category

Statistical research and analysis by Credit Action, a registered charity specialising in educating consumers about money and household financial management, indicates that levels of debt amongst UK households have risen for the second time in 3 months. If you are struggling with your household finances and meeting your debt payments, a debt consolidation loan may [...]

House repossessions in the United Kingdom held at the same level for the first quarter of 2012 as the first quarter of 2011 at 9600 properties. The steady level of repossessions breaks a recent year on year cycle of increases in repossession levels.

Retirement specialists, Liverpool Victoria, reveal that the number of individuals expected to require long term care through formal care service providers is expected to increase by more than a third by 2025 from just over 840,000 to 1.1 million people. The Future of Long Term Care report, issued by London Victoria, anticipates that average long [...]

The trade body for the debt collection industry, The Credit Services Association (CSA), reports that debt collection agencies in the United Kingdom are trying to recover almost £60 billion of outstanding consumer debt such as unpaid credit card bills and loans across 32 million separate accounts. This averages £1000 for every adult and child across the UK. As the UK enters into the second phase of a double-dip recession, perhaps of most concern is that some 10% of the total debt being pursued has been referred to the debt collection agencies within the second half of 2011 alone.

A study carried out by the Centre for Economics and Research on behalf of the BBC reveals that Britons pay a massive 15% of their net pay on travel costs and almost 4% of that is on public transport fares. There are 2.25 million households paying a staggering 25% of their net income on travelling. This makes travel within and around Britain the most expensive in Europe and almost double the amounts paid by our European neighbours in France, Germany and Italy.

The British financial media has been talking about a double-dip recession for so many months many have perhaps seen it as inevitable. What is a double-dip recession and will Britain manage to avoid it?

Spring has sprung and now is a great time to take a look at your household finances and budget. Organise your paperwork Get started by gathering together all your bank statements, credit card statements, bills and all the other documents and papers that make up your personal financial world. Separate them out bank by bank, [...]

Saving a deposit to buy a first home has always been a challenge but with prices continuing to surge in the south of the country and high prices relative to income everywhere, renting remains the only option for very many people. The “Rental Britain” report prepared by agents, Savills and Rightmove, estimates that the number of private rental properties across Britain has almost doubled in 10 years from 2.5 million homes in 2002 to 4.8 million presently. Forecasts suggest that as many as one in five households could be rental properties by 2016

Research undertaken by Standard and Poor, the credit rating agency, reveals something of a North-South divide when it comes to the number of property owners stuck in a negative equity position. Using property price data from HM Land Registry and mortgage figures from mortgage lenders, Standard and Poor’s analysis shows that the number of people [...]

The start of the new calendar quarter on 1 April marks the point when high street shop units must pay their rent. The quarterly bill has become something of a trigger for the onset of formal insolvency proceedings for high street stores in recent times and administrations for the first quarter of 2012 have increased by 64% on the previous quarter and are up by 15% on the same quarter last year.