One of the strongest indicators that the UK economy is strong and will continue to grow is the amount of wealth built up by UK adults. While personal debt in the UK is £1.3 trillion, £1 trillion of that is invested into homes, meaning that debt is secured against wealth.
Martin Smith, chief executive of Brewin […]

With the cost of living rising and the interest rates predicted to rise to as much as six percent by the end of the year, it can be very tempting for homeowners to lock into fixed deals for their mortgage.  However, some wonder if homeowners are being overcharged for the peace of mind that fixed […]

According to research from Alliance & Leicester, 4.2 million Britons are heading off on holidays before they have even finished paying off their last holiday trip.  Because of this many Britons are making cheap holidays more expensive.  By not sticking to budgets and relying heavily on expensive plastic, UK holidaymakers are spending more than they […]

With the current increase in the interest rate by the Bank of England many household finances are set to be put under even more strain.  According to PricewaterhouseCoopers, 19% of the average household’s income goes towards repaying debts, the highest rate on record.  With rising Council tax bills, utility costs and petrol prices there is […]

According to new figures from Abbey, many young Britons struggling to get onto the property ladder end up spending their savings to make ends meet and are making life harder for themselves in the process.
The figures from Abbey show that 11.2 million potential property buyers are dipping into the savings put aside for a deposit […]

The Standard Life Bank has announced that it is now offering a new enhancement to the ‘Freestyle’ buy-to-let mortgage range.  Some of these offers include half-price booking and arrangement fees for any landlord who is purchasing more than one buy-to-let property with a Standard Life Bank mortgage.  With this deal the fees for the first […]

Every UK adult currently owes £27,180 (including mortgages). This increased £210 in one month alone in early 2007.  This statistical number has no bearing on the real burden carried by consumers.
This interest burden paid by each household in the UK is £3,327 each year.  The interest rate is inappropriately high because of the high level […]

A survey performed by Woolwich has discovered that first-time buyers are spending a third of their take-home pay on their mortgage.  Homeowners in their 20s spend 32.4 percent of their income on meeting home loan costs in June.  The research from Woolwich reveals that there is a growing burden of home ownership as house prices […]

In May the house price figures were disappointing for some as the average house price increased very little.  However, the house prices bounced back in June, according to figures from the Nationwide building society.
According to Nationwide, so far last month the average UK house price saw a 1.1 percent rise to 11.1 percent higher than […]

Credit Action, the UK financial education charity, warned the industry that the wide prevalence of student loans is creating an environment where high levels of debt are seen as normal.
There has been a subtle switch from days when students worked to cover extra expenses. Now, they use loans to finance the entire three or four […]