A new Government scheme called My Home Finance is to offer affordable loans to consumers in a bid to prevent vulnerable and at-risk groups borrowing from loan sharks. The loans will have a typical APR of just 29.9% initially, which compares favourably with many door-to-door products, which often have APRs well over 200%. The announcement […]
Read MoreRecent figures released by the Office of National Statistics (ONS) have revealed new public sector borrowing reached a historic high figure of £15.9bn in August, which also saw interest payments treble on the same month last year to £3.8bn. The rise has been put down to higher inflation leading to a rise in interest payments […]
Read MoreA Council of Mortgage Lenders (CML) report has revealed that mortgage lending has fallen for the second month in a row. In response to the fall, average house prices have decreased for the third month in a row and the BoE base rate has remained stable at its historic low of half a percent, although […]
Read MoreThe National Association for Student Employment Services has found that around two thirds of students require part-time jobs to pay for their university studies. The NatWest student living index also reveleade that 28% of students recieved less fincnail help now than they would have in previous years and 46% received none at all.
Read MoreA 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 MoreA recent report by Barclaycard has revealed spending via credit and debit cards rose 9.2% in August compared to the same month last year. This continued the recent spending trend with August being the fourth month in a row to see a rise. The figures are in stark contrast to recent reports suggesting consumers are […]
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 […]
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