A report by the Bank of England (BOE) has found banks are refusing to pass on base rate cuts to borrowers. Much of the disparity is being put down to higher default risks generally and the fact that the inter-bank lending rates have not fallen in line with base rates.
Read MoreLast week pupils from Southlands High School met with the Governor of the Bank of England, as part of our Money Diaries education initiative. Chairman of Debt Advice Foundation, Dennis Benson, accompanied a team of students to London to meet a number of financial experts – to discuss the provision of financial education in schools […]
Read MoreAccording to the LSL monthly index of buy-to-let rents index, many tenets are being forced into rent arrears as landlords look to take advantage of the sluggish housing market and push up rents faster than the rate of inflation. The research shows that approximately 507,000 people are currently in rent arrears. The highest increases were […]
Read MoreWe were very proud to see Emma Bloom, one of the 10,000 people we have advised in the last year, sharing her views on debt education on BBC Breakfast yesterday morning.
Read MoreA recent report published by the Fair Pay Network (FPN), reveals a significant wage inequality in the UK labour market. The report, supported by the Trade Unions Council (TUC), states 5.3 million people fall below the low pay threshold of £6.75 per hour and that 10% of households have seen their weekly income fall by […]
Read MoreA Report published by the Council of Mortgage Lenders (CML) has revealed that first-time home buyers’ share of the market has fallen to 34%, its lowest level in three years. The report also showed that the total number of mortgage advances actually increased by 7% in the month of July, although experts warned that the […]
Read MoreThe latest data from the Office of National Statistics (OFS) has revealed that the level of unemployment in the UK declined by 8,000 to 2.47 million in the three months to July. However, a rising claimant count in August bucked the trend and some experts fear there is bad news for the job market, which […]
Read MoreThis morning pupils from Southlands High School joined the breakfast crew on BBC Radio Lancashire, to discuss a financial education initiative which is being backed by Debt Advice Foundation. A team of students from the Chorley-based school and their deputy head will be travelling to London tomorrow, along with our Chairman, Dennis Benson, to discuss […]
Read MoreHigh street banks have been accused of pushing some customers below the poverty line by moving money from current accounts to pay off credit card debts that are overdrawn. The practice, know as offsetting, typically sees anything from £100 to £200 moved, often leaving struggling customers helpless, living on as little as £3 a day. […]
Read MoreA survey conducted by Nationwide revealed how consumer confidence has risen for the first time since the general election, although impending cuts and job uncertainty are expected to have an adverse effect in the near future. Optimism among consumers is increasing as the number of people who thought the economic situation would be good in […]
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