The rate of UK consumer borrowing continued to slow in November according to the Bank of England as it seeks to slow down the growth of the personal loan market.The report shows a growth in consumer credit of 9.1 percent in the year to November 2017. Outstanding balances for consumer credit now stand at over £205.8 billion. In response…
Read moreHousehold bills increased by £280 in 2017, according to new findings from comparethemarket.com. The research reveals that the costs for energy, motor and home insurance have risen by 13% over the past year from £2,216 to £2,502, leaving consumers £286 out of pocket. Energy bills have seen the most dramatic price hike, as customers have paid on…
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New data released by the Ministry of Justice indicates that the number of mortgage possession claims and orders made in county courts has increased in the last 6 months. Sellhousefast.uk, who help homeowners with the prospect of repossession, decided to investigate this issue, to determine which local authorities in England and Wales are most at…
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An estimated 7.9 million people are expecting to fall behind with their finances this January as a result of Christmas costs, according to new research by the Money Advice Trust. The charity has joined with the Association of British Credit Unions (ABCUL) to issue a call for households to ‘make a plan’ for next Christmas.…
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Citizens Advice is urging people to do their homework before signing up to any fitness memberships this new year, to make sure they don’t end up out of pocket. As many people seek to turn over a healthy new leaf in 2018 the charity is sharing its top tips to make sure signing up for…
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Plans to protect people from unresolved debts which can damage credit ratings without them knowing have been outlined by the Government. It has launched a consultation on how County Court Judgments (CCJs) are issued after concerns were raised that some rogue companies were deliberately sending claims to consumers using incorrect addresses. Credit ratings can be…
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New research from uSwitch.com has indicated that one in four consumers will carry an average credit card debt of £452 into this year. Despite the cost of living reaching a five year high in 2017, the British public has not held back on their Christmas spending, with almost £8.5 billion being spent on plastic this…
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As 2018 fast approaches, new data from MoneySuperMarket reveals that the average Brit will see in the New Year with over two thousand pounds (£2,172) of debt hanging over their heads. Despite 55 percent of Brits feeling confident that they will stay within budget this Christmas, the leading price comparison website reveals that eight in 10 would…
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One in three consumers shopped ‘blindly’ this Christmas – by not checking their bank balance before, during or after hitting stores and retail websites according to latest research by Asda Money Despite 77 percent setting a typical budget of £539 the study of 2,000 adults found overall one fifth spent more than they intended to.…
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Online research from Equifax has revealed that 39% of Brits expect Brexit to negatively affect how they access and manage their finances. The survey, conducted by YouGov, also highlighted the younger generations’ pessimism about Brexit with over half (56%) of 18-24 year olds believing exiting the EU will make it more difficult to access and…
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The Consumer Council for Water (CCWater) is warning against water companies being able to give to customers with one hand while taking from them with the other in the 2019 Price Review. The water watchdog has welcomed Ofwat’s tighter squeeze on companies’ financing costs which will help to keep bills down in the future. But…
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New figures released by the Finance & Leasing Association (FLA) show that new business volumes in the point of sale (POS) consumer new car finance market fell by 7% in October, compared with the same month in 2016, while the value of new business was up by 2% over the same period. The percentage of…
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New figures released by the Finance & Leasing Association (FLA) show growth of 10% in consumer finance new business in October, compared with the same month last year. Credit card and personal loan new business together grew by 13% compared with October 2016, while retail store and online credit new business increased by 3%. Second…
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