- Warning. Beware of financial advisers promising unusually high investment returns.
- In Money Marketing this week the Financial Services Authority is warning advisers about the dangers of selling dodgy non regulated investment products. What about warning the public?
- Wed 28th Jul 2010
- Have you been miss-sold your mortgage and are now stuck in mortgage hell.
- I have been speaking to a number of mortgage gurus over the last few days and the prickly topic that keeps cropping up is mortgage miss-selling.
- Wed 14th Jul 2010
- Bank of England to hold interest rates until May 2011. Good news.
- The british chamber of commerce have stated that rates will be on hold for quite some time.
- Tue 6th Jul 2010
Xmas spenders 'borrow money in January'
Fri 21 Dec 2007 10am
The first month of the new year will see a surge in loan applications as consumers look to consolidate their Christmas debts, a financial expert has stated.Neil Monroe, external affairs director at Equifax, said that January traditionally sees an increase in loan customers, with many people borrowing more money to cope with debts accrued over the festive period.
However, he warned that these consumers may find access to credit more difficult than usual next month, because loan providers are becoming more selective with their lending habits as a result of the credit crunch.
Mr Monroe explained: "The issue is whether those people who relied on that capability will find it more difficult to get credit.
"If they are in the marginal area - so if their credit score is only marginally acceptable for lenders - they may find it more difficult."
According to Credit Action, the average UK household has debts worth £8,920, excluding mortgages.
