Loans
The rise and rise of small tiered loans
Average rates for the top ten personal loans under £5,000 have hit a ten year high, while loans over £5,000 are starting to fall after reaching a peak in May, according to research by moneysupermarket.com.
Debt charity warns of rise in repossessions
National debt charity Consumer Credit Counselling Service (CCCS) welcomes the fall in repossessions in the UK for the second quarter of 2010 that was announced today (August 12) by the Council of Mortgage Lenders.
Duchess of York’s debt woes reflected around the country
Commenting on the news that the Duchess of York is facing possible bankruptcy, Louisa Parker, Head of Research and Policy at the Money Advice Trust, said: "Coping with unmanageable debt is a difficult experience no matter what your background.
Over 2 million holidaymakers in debt over holiday
Over 2 million (2,329,500) holidaymakers have had to borrow on average more than £1000 (£1,130) and will spend seven months paying it back, according to R3, the insolvency trade body.
Personal loans used to pay for surgery
Nearly £12 million was taken out in personal loans last year to help pay for surgery, estimates Sainsbury’s Finance. Some 800 loans worth £4.77 million were used to pay for cosmetic surgery and just under 1,000 loans were used to pay for other surgical procedures such as hip replacements.
Debt charity welcomes increased protection for homebuyers
Consumer Credit Counselling Service (CCCS) welcomes the ban on self-certified mortgages that has been proposed today (July 13) by the Financial Services Authority (FSA).
Brits show lax attitude to debt
With the Government focusing on reducing the nation's sovereign debt levels, research from moneysupermarket.com has revealed that, with total levels of personal debt standing at over £1,460 billion, some consumers are displaying a worryingly lax attitude to their own personal debt levels.
Brits rack up debt to get away this summer
Over 10 million UK adults going away this year (32%) are racking up debt in order to fund this year's summer holiday, a new survey by Bright Grey has found.
Debt charity sees rise in renters worried about eviction
The UK's leading debt charity, the Consumer Credit Counselling Service (CCCS), has seen a dramatic rise in calls from people in rented accommodation seeking help with eviction.
Struggling debtors risk snowballing debts
More than four in ten (44%) individuals who freely admit to struggling with their debt have not sought advice because they do not believe that their problem is big enough to need help, according to research commissioned by R3, the insolvency trade body.
Nationwide offers market-leading personal loan rate
With effect from today, Tuesday 15 June 2010, Nationwide has introduced a new personal loan rate of 7.7% APR typical for loans of up to five years between £7,500 and £14,999 for its main FlexAccount customers.
Desperate times push nearly 70,000 towards loan sharks
As many as 67,000, or 7%, of those struggling with debts say they have already contacted a loan shark or doorstep lender, while a further 13% have considered doing so.
Personal loans used to pay for education
The cost of education increased by 5% in the 12 months to February 2010, which helps explain why, according to estimates by Sainsbury's Finance, a staggering £37 million was taken out in personal loans last year to help pay for school fees, university fees and general education costs.
OFT joins campaign to stop loan sharks
The OFT is taking part in a campaign to warn people of the dangers of loan sharks that charge exorbitant interest and use violence and threats to enforce debts.
Couples say ‘I don’t’ to credit cards and loans
Cost-conscious brides and grooms are getting creative to finance their big day without resorting to credit cards and loans, according to new research from cashback website Quidco.com.