Personal Finance News
Borrowers ‘taking more mortgage holidays’
Posted 2008-06-3
Homeowners are increasingly hoping to take a mortgage holiday to relieve their financial pressures, it has emerged. The Times reports that a number of major lenders have noted a rise in borrowers taking such a break, which enables them to skip payments for up to a year. ...
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Credit ‘becomes increasingly expensive’
Posted 2008-06-2
Credit is reportedly becoming more expensive, which could be bad news for anybody relying on their credit cards to pay for day-to-living costs. Research conducted by Moneyfacts.co.u...
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One in three Brits ‘concerned about debts’
Posted 2008-06-2
A recent poll highlights that more than one in three Brits are concerned about their level of debt. Moneyexpert.coms survey shows that 38 per cent of respondents are worried that they will not be able to pay their loans and credit card bills, a rise of five percent compared to three months ago. ...
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250,000 homeowners ‘are in negative equity’
Posted 2008-06-2
A financial expert has estimated that 250,000 homeowners are in negative equity and predicts that the figure will reach more than a million by the end of next year. Citigroup adds that this would mean one in 12 homeowners with a mortgage would be affected. ...
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Expert: Store cards aren’t a quick fix
Posted 2008-06-1
Consumers are being warned that store cards do not offer a “quick fix” to their financial problems. According to Credit Choices, increasing numbers of people are opting for store cards over credit cards. ...
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FSA: People need to take control of their finances
Posted 2008-06-1
A watchdog has warned borrowers they must stay in control of their mortgages and loans. The Financial Services Authority (FSA) is campaigning to help people stay on top of their mortgage payments and act to stabilise their finances before it is too late. ...
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Brits ’splash their cash abroad’
Posted 2008-06-1
New research has revealed that Brits become more extravagant with their money when they arrive on foreign shores. A study conducted by America Express highlights that one in three people will spend left foreign currency for the sake of it, to save having to convert it back to sterling. ...
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Holidays ‘affected by credit crunch’
Posted 2008-05-29
The number of people taking holidays abroad is likely to fall due to the impact of the credit crunch, it has emerged. According to the Family Holiday Association, fewer families than last year will be able to afford to take a trip abroad due to other strains on their finances, such as food prices and utility bills. ...
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Grocery bills increase by 5.8%
Posted 2008-05-29
Grocery prices have increased by 5.8 per cent in May compared with the same month last year. British shoppers are now spending £514 million a month more on their shopping than in 2007, according to new research from Verdict. ...
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Homeowners urged to hunt down mortgage deals
Posted 2008-05-29
Money website Fool.co.uk has advised homeowners to make overpayments on their mortgages to avoid not having access to good mortgage deals when their current loan ends. ...