Nearly a third of people (34%) organising a funeral for a COVID-19 related death has been pushed into financial difficulties according to Sunlife’s ‘Cost of dying’ report. The report also reveals that funeral costs have risen for the seventeenth year in a row, with the average cremation now costing £3,885 and the average burial £5,033,…
A new report by the Joseph Rowntree Foundation has suggested that the poorest families hardest hit by pandemic will find it hard to recover. The ‘State of the Nation’ report, warns that ministers must make tackling poverty an economic priority in 2021 or they risk being defined by a record of worsening hardship. The report…
New figures released by the Finance & Leasing Association (FLA) show that Second charge mortgage new business volumes fell by 28% in November 2020 Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Head of Consumer & Mortgage Finance at the Finance & Leasing Association (FLA), said “The level…
New figures released by the Finance & Leasing Association (FLA) show that the consumer car finance market reported a fall in new business volumes of 24% in November 2020 compared with the same month in 2019. In the eleven months to November 2020, new business volumes in this market were 20% lower than in the…
According to KIS Finance’s financial survey, only 31% of adults in the UK could correctly identify what an APR (Annual Percentage Rate) is, including its purpose and how it should be used. Whilst 68% of credit card holders don’t know what an APR is, bearing in mind that the APR is undoubtedly one of the…
Nationwide Building Society is to lead an expanded cross-sector group that will see major brands joining civil society to help the UK recover and rebuild in the wake of Brexit and Covid-19. It comes as the building society launches new research alongside Ipsos MORI that sets out the scale of the challenge in helping the…
The Government has launched a new consultation which is launched aimed at extending debt solutions and helping vulnerable people in financial distress get a fresh start. The proposals have been outlined by the Government to increase the financial eligibility criteria for debt relief orders (DROs), helping more people deal with financial difficulties to get a…
Research by TotallyMoney has shown that consumers paying interest on their credit card debt are wasting hundreds of pounds by not switching to a better deal. The research found that by transferring the average credit card balance of £2,177 to the average balance transfer duration of 21 months, customers could save a huge £676. Customers…