Finance and Credit Professional

With financial conditions set to worsen over 2008, consumers need to take steps to safeguard their finances, an industry expert has warned.According to Angela Knight, chief executive of the British Bankers' Association (BBA), people must be careful with how they manage their money during the next 12 months. She also pointed out that Britons should [...]

Thousands of consumers are selling their property as they are unable to keep up with increasing mortgage costs, according to new figures.Research carried out by Moore Blatch suggests that for every home which was repossessed last year at least an equal proportion were sold as owners struggled to make secured loan repayments. The company also [...]

People using debt management plans are taking an average of one month longer to repay their debt, according to the latest debt monitor from debt management specialist Chiltern.According to the company, the average time taken by a person on an informal debt management plan to pay off any existing debt is 12 years and two [...]

Interest rates are set to go beyond the six per cent barrier by the end of 2007, according to a new survey.In a study carried out by the Independent on Sunday, economists from Ernst

The Council of Mortgage Lenders (CML) has warned that mortgage arrears and repossessions will increase in 2008, suggesting consumers having trouble with their finances may wish to take out a debt consolidation loan before debt repayments become unmanageable.Michael Coogan, CML director general, has said that the approaching period for the mortgage and housing market could [...]

The availability of loans and other types of borrowing may be set to diminish, a new Bank of England report shows.In the Bank's latest Credit Conditions Survey, a number of loan lenders have stated that they have had to become stricter about to whom they issue borrowing. And with many Britons finding that mortgages are [...]

Those looking to apply for a loan should first consider doing some research into how much they are going to borrow.Such is the assertion of Defaqto, who claim that those who take a personal loan at a marginally-higher value than they had originally intended may find that they pay a lower rate of interest. According [...]

The recent unseasonable weather has caused house prices to fall, according to a new study.Research carried out by SmartNewHomes reveals that the average cost of a new property decreased by 0.3 per cent over the course of June to 260,073 pounds in comparison to the 260,832 pounds recorded in May. The decrease was attributed to [...]

Britons' financial difficulties are set to increase over the course of the coming months, an industry expert has reported.According to Chris Tapp, director of Credit Action, the series of base rate rises actioned by the Bank of England since August last year has caused many people's finances to come under more pressure as a result [...]