March 2012

Debt Advice Foundation financial education project in national awards final

We are delighted to confirm that we have been chosen as a finalist in this year’s Credit Today Awards, Money Advice Initiative category. 

More than 180 entries were submitted for the 22 categories in the Awards, which showcase best practice across the UK loans and debt services industry. 

Stricter OFT debt management guidelines welcomed

Debt Advice Foundation has welcomed the announcement of new, stricter debt management advice guidelines by the Office of Fair Trading. 

In addition to tougher enforcement action, the OFT has also set out examples of “unfair or improper practices” and has said it expects companies to refer clients to not-for-profit advice organisations if they need further help.

Above Average Earners In Their 40s And 50s Turning To Value Brands To Cut Bills

A new report suggests that almost a quarter of people in their 40s and 50s who have traditionally been considered well off are now shopping for own-label and value brands.  Some 17% of this group said they had cut back on oil, gas and electricity.

The findings come from the AXA quarterly Big Money Index, and indicate that pressure on consumer spending is now a significant issue for people who are considered to have higher disposable income but who are seeing bills rising and low returns on savings.

Government’s New Buy Scheme Allows 95% Lending On New Homes

A new Government mortgage indemnity scheme will help people in England gain 95% mortgages for new properties.

The New Buy scheme, which is open to all prospective purchasers, not just first time buyers, will see building firms and the Government act as co-guarantors on new-build homes up to a value of £500,000.

The scheme was announced on the same day that it was confirmed that the “right to buy” discounts offered to social housing tenants are to be extended.

National Student Money Week

There’s never been a tougher time for students trying to manage their finances.  As costs rise and part-time jobs are harder to come by, many will struggle to keep on top of their finances.

It’s National Student Money Week (Monday 12 to Friday 16 March 2012), organised by the National Association of Student Money Advisers (NASMA) – and our Student Debt Advice Guide is there to help: