Loan News
Five years of record low rates but cost of borrowing edging up
With March 5th marking the fifth anniversary since the Bank of England base rate dropped to a record low of 0.5 per cent,analysis by MoneySuperMarket shows how borrowers have benefited from low lending rates.
Can I get a bridging loan on my property
It is a well known fact that the sale of properties does not take place within a short span of time, and the long drawn procedure can result in the delay of funds. If you are willing to buy a home, but cannot wait for your old property to get sold, you can take the help of a bridging loan. You might wonder whether you can get a loan on your property.
Debts a constant worry for more than 1 in 8
One in five people (20.1%) ‘often’ worry about the money they owe on loans and credit cards, while one in eight (13.5%) worry ‘all of the time’, according to research by debt advice and solutions provider Debt Advisory Centre. Only 6.5% of people who owe money said they never worry about it.
Checking your credit report - One of the first steps to dealing with debt
Equifax, the online credit information provider, is providing helpful insight to consumers into how debt looks on an individual’s credit report as part of Debt Awareness Week. It is also confirming that it is continuing to provide free access to credit reports for anyone seeking advice and assistance from the debt advice charities.
Average adult has £3,249 in unsecured debts
Brits estimate that they currently owe an average of £3,249 in personal loans, car finance, unpaid credit and store cards and overdrafts.
Over 65s have lent £1.2 billion to loved ones in the past 12 months
Some people are turning to their elders to cover the cost of holidays, nights out and other expenses, according to a new study from Gocompare.com.
Eight million Brits expect to borrow money to fund Christmas
Eight million adults in the UK (16%) expect to have to borrow money to pay for Christmas this year, according to new research from budgeting account provider thinkmoney.
One in six would have to borrow to cover an unexpected £200 bill
One in six people - equivalent to 8 million men and women - would have to borrow money if they had to make an unexpected payment of a couple of hundred pounds.
New debts for old: 2 million borrow to make debt repayments
Two million people borrowed money to make a repayment on an existing debt in July, according to research by Debt Advisory Centre.
For love or money?
More than 11 million Britons (23%) have lent a family member or friend money unexpectedly - with one in ten (11%) having done so in the past twelve months, according to figures released from Bright Grey's annual Financial Safety Net report.
National Empty Homes Loans Fund sparks huge interest
Just one month since the launch of the National Empty Homes Loans Fund (NEHLF), the scheme has received enquiries for funding worth over £1 million - the equivalent of over six months of expected activity.
1 in 5 don't understand the implications of joint borrowing
Borrowing in joint names can have serious consequences if your partner can't afford to pay up - but research by Debt Advisory Centre suggests that many people are signing up for joint credit agreements without knowing all the facts.
1.5m had to borrow money to pay mortgage or rent in the last month
In the last month alone, 1.5 million people in the UK borrowed money to pay their mortgage or rent, according to research by Debt Advisory Centre.
Brits turn to the ‘Bank of Family and Friends' for financial help
In tough economic times people are turning to their loved ones for financial support, with more than half (57%) of UK adults saying that they often lend money to their friends and family, according to research from Gocompare.com.
National Empty Homes Loan Fund launched
An innovative new scheme aimed at bringing some of England's 710,000 empty homes back into use is launching today in a move that will help to tackle the country's housing shortage.