- Lowest number of Mortgage Approvals since records began.
- In a breaking report from the Bank of England only 64,000 mortgages were approved last month.
- Tue 29th Apr 2008
- Are the Banks getting greedy?
- In a test case in the High Court today, 8 UK Banks may be deemed to have be charging their customers unfairly.
- Thu 24th Apr 2008
- Comparison websites under the hot spotlight.
- The centre for competition policy has produced a report saying independent checks need to be made of comparison websites.
- Sat 12th Apr 2008
Older people 'struggling with debt'
Fri 21 Dec 2007 12pm
Many of the UK's older citizens are struggling with their levels of debt and do not know exactly how much money they owe to creditors, a new report has claimed.According to research from Callcredit, 16 per cent of people in the over-55 age group are unable to properly define the amount of debt they have.
In addition, the debt levels of this demographic are increasing at a faster rate than any other group, due to the rising cost of living in the UK, the credit reference agency stated.
Mark Ward, consumer debt expert at Callcredit, said that the findings were "a sobering reminder about the importance of being responsible when taking on debt and always thinking about how you will repay the money you owe".
He added: "We must be better aware of how to take control of our financial life."
Recent data from Credit Action states that the UK's total level of personal debt reached £1,391 billion in October this year.
