When you apply for loans, or other forms of personal finance, chances are that the lender will look at your credit record and your credit score. These two checks will play a part in determining whether your application is successful, and possibly the interest rate you will be charged – generally, the higher risk you [...]
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Loan sharks
Many people have found their finances stretched over the past year or two as the country entered the downturn. It may have been the higher costs of living, as fuel and food prices rose, or a reduced income, following redundancy or cuts in hours or commissions. Unfortunately, people turn to loan sharks to make ends [...]
Paying the unexpected
Despite our best intentions and careful budgeting, sometimes an unexpected expense rears its ugly head for which you simply don’t have enough savings in reserve. The simple truth of the matter is that life does go on – even in a recession. The credit crunch won’t stop your kids outgrowing their bikes or school uniforms [...]
Debt management
No matter how well-managed your finances, the current financial climate means it’s always worth keeping an eye on your debts, and reorganising them if it means a better deal. If you have a number of debts that you need to make payments on every month, one option is to take out a personal loan and [...]
Coming to market
Following a couple of years of tough economic conditions, most commentators now seem to think the UK is out of the worst. So does this mean it’s time to invest? A financial adviser could show you how to make the most of your money. The article will talk about the recovery and its potential opportunities, [...]
It’s another hold for bank rate, with many more to come
"The MPC’s decision to leave Bank Rate unchanged for another month was really the only possible conclusion and the committee probably spent more time discussing the Quantitative Easing (QE) programme than whether to change Bank Rate. With…
Young adults left most at risk in recession
A heavily-regulated and outdated financial establishment has left young adults most at risk in any recession, argues a new report released today from the independent think tank Reform and the Chartered Insurance Institute…
Eight million Brits missed payments last year
Over eight million Brits missed paying regular monthly bills last year, putting their credit profile at risk and making it harder for them to be accepted for credit in the future.
Unlucky for some – average credit card rate hits 13 year high
Increased competition in the credit card market at the end of the 1990s meant rates started to fall, dropping to their lowest level in 2006.
Since 2006, as the economic downturn took hold, credit card rates have steadily increased, with the average rate for new customers today…
Money’s too tight to mention
- Brits are feeling financially insecure due to lack of time and money, reveals Scottish Widows
- Scottish Widows research shows one in five (22%) are adopting an "ostrich mentality" when it comes to money worries
- Debt is overshadowing financial…
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