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Average house price up by 0.9%

Fri, 03 Jul 2009 16:16:00 -0700

The latest survey from mortgage lender Nationwide has shown a 0.9% rise in average house prices in June, compared with the previous month. Nationwide said that it was the third house price rise in four months, and the first positive three-month rate of change since December 2007.

Full article: Average house price up by 0.9%
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Debt snowball

Thu, 02 Jul 2009 04:15:48 -0700

When it comes to getting out of debt, there are a range of methods and debt solutions that people can use to help them. One such method is known as the `debt snowball` - a method popular in America that has helped a lot of people address their debts.

Full article: Debt snowball
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Savings at `record high`

Thu, 02 Jul 2009 04:52:40 -0700

According to National Savings & Investments (NS&I), Britons are saving more money than they have done at any time in the past five years. In its spring Quarterly Savings Survey, NS&I found that on average, people are saving £92.41 a month, an increase from the £90.12 recorded in winter 2008/09. Nearly half of the population (47%) are saving each month, with regular savers putting away more substantial amounts - an average of around £209.23 per month.

Full article: Savings at `record high`
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How do inflation and deflation affect my debts?

Thu, 02 Jul 2009 06:42:45 -0700

At face value, rising inflation might seem like bad news for people who are repaying debts - higher prices for goods and services means less money left to pay off debts.

Full article: How do inflation and deflation affect my debts?
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Households paying off debt rather than saving

Thu, 02 Jul 2009 07:13:35 -0700

New savings and mortgage figures from the Building Societies Association (BSA) have suggested that households are looking to repay debts rather than save. The BSA claimed that savings balances held by building societies had fallen by £106 million in May 2009, compared with an increase of £1, 162 million in the same month last year.

Full article: Households paying off debt rather than saving
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Debt advice - why is it important?

Thu, 02 Jul 2009 07:37:16 -0700

The importance of debt advice has been growing for many groups of society in recent months, with access to lending down and interest rates on savings accounts also falling.

Full article: Debt advice - why is it important?
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Energy prices rise by 22.7% in a year

Wed, 01 Jul 2009 02:54:55 -0700

Figures compiled by the Office for National Statistics show that between the first quarter of 2008 and the first quarter of 2009, domestic electricity prices increased by 19.7% in real terms, while the price of domestic gas rose by 34.8% and the price of coal and smokeless fuels rose by 28.9%. A debt expert for Think Money commented: "During an economic downturn, the prospect of debt will become a reality for many households. The rising cost of living means that some people will find it particularly difficult to afford their essential expenses every month.

Full article: Energy prices rise by 22.7% in a year
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Student loans on the rise

Wed, 01 Jul 2009 03:25:42 -0700

New figures from the Student Loans Company (SLC) have shown a rise in the amount of money lent out to students in the 2008-2009 financial year. The company lent £4.2 billion to students over this period, a rise of around £300 million on the last year.

Full article: Student loans on the rise
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Increased flooding risk highlights importance of insurance

Wed, 01 Jul 2009 15:27:00 -0700

AA Insurance has emphasised the importance of insurance after it was found that over one in five homeowners had cancelled or not renewed their home insurance during the recession. Simon Douglas, director of AA Insurance, said: "We are getting home insurance claims from places where there is no previous history of flooding. Drainage systems are often unable to cope with some of the sudden and extreme downpours we have been experiencing. As a result, homes are being flooded in unexpected places.

Full article: Increased flooding risk highlights importance of insurance
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Does debt management work?

Tue, 30 Jun 2009 09:30:00 -0700

If your debt problems have become so serious that you can`t keep up with your monthly repayments, a debt management plan could help.

Full article: Does debt management work?
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Energy companies `overcharging customers`

Tue, 30 Jun 2009 10:18:00 -0700

Independent consumer watchdog Consumer Focus has claimed that customers are being overcharged by an average of £74 a year on their energy bills. The watchdog claimed that energy companies have not been passing on the full declines in wholesale costs.

Full article: Energy companies `overcharging customers`
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Bank of England considers ways of improving loans market

Tue, 30 Jun 2009 03:48:29 -0700

The Bank of England has finished a two-week consultation on plans to use more spending under its quantitative easing scheme to boost loans and other forms of credit to businesses, according to The Times. The quantitative easing scheme was introduced to boost cash flow into banks and other financial institutions, thereby increasing the amount of money available for loans and mortgages.

Full article: Bank of England considers ways of improving loans market
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Average 2-year fixed mortgage rate may reach 6% within weeks

Tue, 30 Jun 2009 03:54:10 -0700

Moneyfacts.co.uk has said that the average interest rate on a two-year fixed-rate mortgage could soon reach 6%, according to The Telegraph. The average rate offered to fixed-rate customers looking for two-year deals has been rising rapidly over the last week. On Wednesday, The Telegraph said that the average rate stood at 5.04%, up from 4.92% two days previously and 4.74% a week before that.

Full article: Average 2-year fixed mortgage rate may reach 6% within weeks
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Falling LIBOR could help car loan rates

Tue, 30 Jun 2009 00:00:00 -0700

The three-month sterling LIBOR rate (London Inter-Bank Offered Rate) fell to 1.200% this week, raising hopes that car loans and other forms of credit could become cheaper. It means the rate has fallen from 1.25% to 1.2% in just a week. According to Thisismoney.co.uk, the rate had shown signs of stabilising at 1.25% in mid-June, but then began falling again, possibly due to the effects of quantitative easing.

Full article: Falling LIBOR could help car loan rates
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Can I use an IVA to pay my mortgage arrears?

Fri, 26 Jun 2009 00:00:00 -0700

For people struggling with unmanageable debts, an IVA (Individual Voluntary Arrangement) can offer an alternative to bankruptcy.

Full article: Can I use an IVA to pay my mortgage arrears?
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What types of debt can I consolidate?

Fri, 26 Jun 2009 05:33:58 -0700

Is there a limit on the type of debts I can consolidate?

Full article: What types of debt can I consolidate?
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Is debt management a good idea?

Thu, 25 Jun 2009 09:37:00 -0700

For many people who can no longer afford their debt repayments, a professional debt management plan could be a good way forward

Full article: Is debt management a good idea?
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Online sales may exceed £21bn before 2012

Thu, 25 Jun 2009 00:00:00 -0700

A recent survey by PayPal predicts that online sales will rise from just under £9bn to £21.3bn by the end of 2011 - while sales on the high street will fall by up to £8.3bn, The Telegraph reports. The report, carried out by Experian, was based on 1, 000 interviews with adults. It concluded that 24% of UK adults believe that online shopping will overtake high street shopping in the future.

Full article: Online sales may exceed £21bn before 2012
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Bank charges court case continues

Thu, 25 Jun 2009 05:21:43 -0700

The legal battle that could force banks to pay back billions of pounds to customers reached the House of Lords yesterday. The three-day hearing will look into an appeal by seven major lenders against a previous ruling that overdraft charges were subject to consumer contract law, and as such could be regulated by the Office of Fair Trading (OFT).

Full article: Bank charges court case continues
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Best way to clear store card debts

Wed, 24 Jun 2009 03:12:35 -0700

If you`re determined to tackle your debts - and do it on your own - it`s probably a good idea to tackle the ones with the highest interest rates first. For many people, that means finding a way to clear store card debts.

Full article: Best way to clear store card debts
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