It has been found that consumers are starting to lose their appetite for unsecured borrowing whether it is through unsecured loans or through credit cards.
The findings were reported by the British Bankers Association which also found that total secured lending was also down 30.3% last month when compared to the same period last year.
The major […]

It has been revealed that millions of low-income families are turning to doorstep lenders in order to shore up their debt, with some rates as high as 200%.
The report which was published by Save the Children has revealed that as many as 2.3 million borrowers are taking out unsecured loans provided by door to door […]

The global credit crunch that financial institutions are currently suffering is partly a result of the collapse of the sub-prime mortgage sector in the US. This situation has led to massive losses for many financial institutions.
Repossessions in the UK could hit as much as 70,000 in the coming year, which will be the highest rate […]

A consequence of Britain’s heavy reliance on financial services has meant that it is far more vulnerable to the impact of the credit crunch than most other economies, that’s according to the Organisation for Economic Co-operation and Development (OECD)
OECD Chief economist, Jorgan Elmeskov, has warned that the financial turmoil which is going to force many […]

The Bank of England’s monitory policy committee (MPC) held interest rates when they met on 5 June, despite the latest snapshot of UK finance showed rising inflationary pressures last month.
The housing market continues to weaken, the cost of living continues to rise and figures show that unemployment is rising again.
Meanwhile, a survey conducted by the […]

According to one of the UK’s leading economists the housing market is on the verge of a record slump and prices are going to drop by a further 10%.
The predictions comes form Morgan Stanley’s chief UK economist, David Miles and would signal the largest full year decline in house prices since records began back in […]

Demand for property has dropped off considerably in recent months as buyers hold back from putting in offers on new homes as long as they are not sure which way the property market is going to go. However it is not only buyers who are holding back, sellers too are biding their time too waiting […]

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 problems […]

Figures just released show that the average Briton is now £33,000 in debt, a figure almost twice as much as it was in 2000, when the average Briton then owed £17,000.
The bulk of the increase in debt comes mostly from spiralling house prices and the resultant large increase in mortgages. Many experts are now warning […]

The Competition Commission has just released its report on an investigation into payment protection insurance (PPI), with a particular focus on the sale of cover to consumers.
The Commission had been looking into PPI since February of last year and has now released figures claiming that Britons are being overcharged by £1.4bn on PPI every year. […]