Research from comparethemarket.com has revealed that nearly one third (30%) of consumers do not think they would be eligible to borrow any money in the form of a mortgage. Nearly 13 million people are estimated to be affected, as exclusive polling reveals that many applicants do not take the necessary steps required to boost their eligibility and…

UK Finance has published its household finance update for September 2018 which reveals that Gross mortgage lending across the residential market in September was £21.5bn, some 1.2 percent lower than last September. The number of mortgages approved by the main high street banks in September was 9.1 percent lower than last September; approvals for house purchase…

The UK rental market remained in recession during the third quarter of 2018 (Q3 2018) according to the most recent figures from The Deposit Protection Service (The DPS). In the latest edition of its Rent Index, which is based on the organisation’s database of millions of properties across the UK, The DPS reports that average…

Here is an overview of The Money Charity’s latest statistics for October 2018: Personal debt in the UK People in the UK owed £1.5987 trillion at the end of August 2018. This is up from £1.5544 trillion at the end of August 2017, an extra £849.91 per UK adult and £66.96 higher than the previous month. The average…

Computershare Loan Services has confirmed it has been appointed substitute administrator by Paragon Bank. The UK’s largest third-party mortgage servicer will undertake the role for their new securitisation, which closed in April this year and represents over £700 million-worth of prime, buy-to-let mortgages. Andrew Jones, Chief Executive Officer at Computershare Loan Services, said “Paragon is…

Community service should replace the sanction of imprisonment for non-payment of Council Tax, according to the Civil Enforcement Association (CIVEA). The industry proposal is in response to a consultation by Financial Secretary, Mark Drakeford AM, which calls for a ban on imprisonment for anyone who does not pay their Council Tax. CIVEA, which represents the…

Citizens Advice Scotland has published evidence showing that demand for advice on rent arrears increased by 47% between 2012 – 2017. The new Citizens Advice Scotland report, which considers the causes and consequences of this rise, finds that changes to the social security system have been one of the key drivers of the problem, in particular,…

New research from NS&I has revealed that 14% of Britons (7 million people) think they may have lost track of a financial product, highlighting the staggering amount of money left dormant with UK financial services providers. And it’s not just savings accounts, with a fifth (20%) admitting there is a possibility that they have lost…

Analysis from Bank Underground shows that the higher a property’s energy efficiency rating, the less likely the mortgage borrower is to fall into arrears. Bank Underground is a blog used by Bank of England staff to publish views that don’t necessarily coincide with the Bank of England’s. In the blog’s latest post, the authors set…

Usio Energy, an energy supplier with around 7,000 domestic customers, has ceased trading. The energy supply of Usio Energy customers will continue as normal, and their outstanding credit balances protected under Ofgem’s safety net. Ofgem will choose a new supplier to take on Usio Energy’s customers. This supplier will contact these customers individually when this…

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