New figures, which have been released by the Financial Services Authority (FSA), have shown that whilst the level and number of new loans for house purchase have increased steadily over the course of this year, the outstanding level of loan arrears and new arrears cases has actually decreased, despite the effects of the credit crunch, [...]
Due to the recent credit crunch and recession, there have been a growing number of individuals facing financial difficulties, particularly when it comes to keeping up with the repayments on their home owner loan or mortgage.
As a result of this, more and more borrowers have been building up loan arrears and many have even faced [...]
There has been a growing concern amongst regulators and debt help groups in the UK over recent years, with regard to the activities of doorstep loan companies and lenders, many of whom offer small cash personal loans to some of the more vulnerable members of society who are unlikely to be able to obtain a [...]
Many of us have found ourselves in the position where we don’t have enough money to see us through the month and end up foraging around for loose change to see us through the last week leading up to pay day, or using a credit card to cover daily living expenses.
In some cases, people turn [...]
There were no major surprises yesterday (Thursday 10th December) following the Bank of England’s Monetary Policy Committee (MPC) meeting to discuss the economy and the base rate of interest for savings and loans.
It was decided that the base rate of interest should be kept at its current level of 0.5 per cent for another month, [...]
The Chancellor of the Exchequer, Alistair Darling, gave his pre budget report yesterday (Wednesday 9th December) and whilst some of his announcements were welcomed by the housing and home owner loan industries, other areas of change were not received as well, although few were surprised by the announcements.
The various trade bodies associated with the housing [...]
It has been an extremely turbulent time in the housing and home owner loan market over the course of the past couple of years and the fluctuating house prices and lack of suitable finance through home owner loans and mortgage products has deterred many would be buyers from actually moving house, or even thinking about [...]
