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 […]

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 […]

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 […]

The Banking Code specifies that if a bank customer becomes a victim of fraud then they should be refunded any money that they have lost as a result of fraud, so long as the bank is fully satisfied that the reason for the fraud was not the result of the victim’s negligence. Negligence in this […]

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. […]

Banks are desperately trying to weed out bad debts and as a result some borrowers are facing the prospect of having to repay their debts early and suffer pre-emptive cuts in their borrowing.
It has become increasingly apparent in recent months that banks have become extremely wary of bad debt and in response to this fear, […]

Many borrowers are having a tough financial year since lenders begin tightening up on their lending last year. Many lenders have already cut their short-term fixed rate mortgages as a result of what they claimed to be the fallout from Northern Rock and the global credit crunch.
Financial hardship is hitting those coming to the end […]

The Financial Services Authority (FSA) has revealed that mortgage brokers are offering loans that they know are unaffordable and willingly letting customers get away with giving false information about exactly how much they are actually earning.
It has been three years since the FSA took over regulation of the mortgage market and it is now revealing […]