It has been revealed that more than 10 million British adults are living on the edge of financial ruin as a result of being unable to deal with the rising mortgage prices and other debt they have incurred over the past few years. There are currently large portions of the UK population gripped by money [...]

First time buyers are at the highest risk of negative equity as a result of a massive rise in the number of 100% mortgages last year. The Halifax Building Society has said that in March house prices fell by 2.5%. This leaves buyers who took out 100% loans last year in danger of owning a [...]

There was a record number of savers depositing their money in building societies following the Northern Rock crisis last September. Net receipts for building societies nearly doubled in September when compared with 12 months before, shooting up by 181% to 2.8bn. This figure is more than double the amount of money deposited in building societies [...]

As homebuyers face a market with soaring house prices as well as increased mortgage prices is it worth forgetting about purchasing a house and opting to rent a home instead? The average house price is currently close to £200,000, base interest rates are at 5.25% and banks are turning away borrowers in droves. With these [...]

Banks have introduced new restrictions on lending to borrowers who they consider to be high risk. Because of these new restrictions it is expected that in the next few months the number of people seeing their home loan application rejected could go through the roof. New figures recently released show that almost a quarter of [...]

If you are considering getting a large loan then it will be easier if you have something to put up as security on it. In almost all cases it will be property that you are putting up as security against the loan. The size of the loan obviously will vary from lender to lender but [...]

In May, it was reported that 2007 could go down as the worst ever year for Britain’s ‘debt crisis’.  A record, 30,075 people went bankrupt or signed Individual Voluntary Arrangements (IVA) between January and March in as they found themselves unable to repay mortgages and loans. It reaffirmed predictions that 2007 will surpass last year’s [...]

According to new research many young homeowners are now taking out hefty mortgages without the benefit of payment protection, which may be a high risk for some.  The survey found that around fifteen percent of adults under 35 were willing to borrow more than four times the amount of their annual salary for a home [...]

It has been reported by some big mortgage lenders that because of the five base rate rises over the past year, there has been an increase in home repossessions.  Over the past six months there was a reported increase in home repossessions as a number of borrowers struggle to pay off their loan debt.  For [...]

The number of repossessions hit an eight-year high in the first half of 2007, most caused by bad debts, resulting from high interest rates. This trend should increase as thousands of mortgages will come up for renewal. Personal insolvencies are also reaching record levels, with 12 people petitioning for bankruptcy every hour in June. The [...]