Credit, Collections & Insolvency News
The Bank of England has hiked interest rates by 0.5 percentage points to 5%. Rates have now hit the highest level in 15 years it’s the 13th time that the Bank of England has increased bank rates, with its Monetary Policy Committee (MPC) voting by a majority of seven to two to raise rates by…
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UK banks have agreed to give mortgage holders a 12-month grace period before their homes are repossessed should they fall behind with their repayments. Homeowners will also be able to switch to interest-only for six months or temporarily lengthen mortgage terms for the same period without affecting credit ratings in new measures announced by Jeremy…
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The Office for National Statistics (ONS) has published new figures revealing that median monthly rents in England have reached £825, the highest figures since records began. The average monthly median rent in London is now £1,500. Debt charity StepChange says rising rents across the country will have a significant impact on the ability of tenants to keep up with their…
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More than 2 million people over 65 are known to be living in poverty, with at least a further 1 million also experiencing financial hardship according to research by Independent Age. In a survey of more than 1,000 people over 651, national charity Independent Age has found that one in seven (14%) people over 65…
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The Bank of England has hiked interest rates by 0.5 percentage points to 5%. Rates have now hit the highest level in 15 years it’s the 13th time that the Bank of England has increased bank rates, with its Monetary Policy Committee (MPC) voting by a majority of seven to two to raise rates by…
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