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Household debt in 2014 increased at fastest rate for a decade

Andrew Hagger | February 12, 2015

Households in the UK took on an average of £395 of additional consumer debt in 2014, new analysis by The Money Charity shows – the biggest growth in any year since 2004. Average consumer credit debt stood at £6,322 in December, up from £5,938 at the end of 2013. In 2013, the average increase was […]

Pensioner Bonds sale extended until May

Andrew Hagger | February 11, 2015

The government has announced that sale of the controversial Pensioner Fixed Rate Savings Bonds is to be extended by an extra three months. George Osborne said he would extend the application deadline until mid-May, because of the overwhelming demand for the high interest bonds. Over 600,000 over-65s have bought them since they were launched in mid January. The chancellor […]

Good news for consumers and businesses as sterling rises in value against the euro

Andrew Hagger | February 11, 2015

New analysis  from travel money business Centtrip reveals that sterling is now worth around 13.8% more against the Euro than it was this time in 2013, and it estimates this could save the nation around £2.7 billion this year on the value of spending money on holiday and business trips to the EU. The report […]

Confusion over fibre broadband leads to slow take up

Andrew Hagger | February 8, 2015

Superfast broadband speeds can now be accessed by almost eight in 10  households says Ofcom, and yet confusion reigns over which providers offer fibre services, where these are available and the benefits of fibre, according to new research from uSwitch. The Government’s Broadband Delivery UK programme, alongside industry investment, has made superfast services widely available, […]

Home renovations cost neighbours more than £1.5 billion

Andrew Hagger | February 8, 2015

New research from Direct Line’s SELECT Premier Insurance reveals that around 3.7 million people have suffered property damage as a result of neighbours making renovations to their homes in the last five years. In the same period, the repair bill for damages across the country totalled more than £1.5 billion. Only a third (33 per […]

Regulator ponders introduction of PPI claims cut-off date

Andrew Hagger | February 5, 2015

The Financial Conduct Authority says it may introduce a deadline for payment protection insurance (PPI) claims. So far banks and credit card companies have received more than 14 million PPI complaints and paid consumers more than £17bn in compensation. Experts predict that the total cost of this long running saga could be as high as […]

One in five looking to retire this year will still have debts

Andrew Hagger | January 26, 2015

Almost 20 per cent of those planning to retire this year will do so with debts outstanding, averaging £21,800, according to new research from Prudential. The insurer’s ‘Class of’ research into the future plans, finances and aspirations of those planning to retire in the next 12 months is now in its eighth year. This year’s results […]

One third of new personal loans taken out to consolidate debts

Andrew Hagger | January 26, 2015

The latest research from  Sainsbury’s Bank Loans suggests that up to 212,000 people could take out personal loans worth up to £2.2 billion in the first three months of the year for debt consolidation. The Bank estimates that this figure could be equal to around a third of all personal loans taken out during January, […]

Consumers concerned over unexpected costs this winter

Andrew Hagger | January 26, 2015

A new survey from HomeServe reveals that millions of UK homeowners are concerned about unexpected costs hitting strained family budgets this winter. More than half (51%) of UK homeowners polled in HomeServe’s “Unexpected Costs of Winter” survey reveal they are concerned by boiler breakdowns, expensive car repairs, or burst pipes – examples of unexpected winter […]

Which? calls for greater transparency from mobile phone providers

Andrew Hagger | January 19, 2015

New research suggests that many mobile phone customers are paying over the odds by an average of almost £160 per annum because they are on an unsuitable tariff. Consumer group Which? claims that more than 7 out of 10 customers are paying more than they need to for unsuitable tariffs. They either don’t use enough […]