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Avoid over-indebtedness and borrow wisely
Tuesday, 09 January 2018
As we start the year, unfortunately the festive season left some consumers in a desperate situation when it comes to finances. There are many reasons why consumers need to borrow money at this time of the year, says Nomsa Motshegare, CEO at the National Credit Regulator (NCR). 
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Consumer Delinquencies Mixed in Third Quarter
Tuesday, 09 January 2018
WASHINGTON – The delinquency picture was mixed in last year’s third quarter, as delinquencies in closed-end loans (like personal or auto loans) rose while delinquencies in key open-end loans (like credit cards) fell, according to results from the latest American Bankers Association Consumer Credit Delinquency Bulletin. Overall, delinquencies fell in 5 and rose in 5 of the 11 individual consumer loan categories tracked by ABA.   One category (indirect auto loans) remained unchanged.
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Consumer credit levels ‘remain a concern’ despite borrowing slowdown
Thursday, 04 January 2018
The Bank of England has today published its latest monthly Money and Credit report showing growth in consumer credit of 9.1 percent in the year to November 2017. Outstanding balances for consumer credit now stand at over £205.8 billion. 
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StepChange Debt Charity response to Bank of England Money and Credit statistics
Thursday, 04 January 2018
In response to the Bank of England’s latest Money and Credit data (November 2017) published today, Peter Tutton, Head of Policy at StepChange Debt Charity, said:  “While the rate of growth may have slowed, the outstanding amount of borrowing taken on by households continues to grow at a rapid pace. We know that millions of people are already using credit just to get by; while wages falling behind inflation risks leaving many more families vulnerable to debt. Helping the millions of households living on a financial knife edge must be a priority for public policy.”
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Bank of England gross mortgage lending in November, comment
Thursday, 04 January 2018
Richard Pike, Phoebus Software sales and marketing director, says “November was certainly a busy month, especially for remortgages.  This will continue to be a factor as we head into what the FCA describes as one of the ‘peak periods for interest only mortgages to mature’.  It is unlikely that all those on interest only will be able to pay off their mortgages in full.  Many will be heading into retirement, so it will be interesting to see how lenders react when approached by borrowers in the older age bracket looking for longer term funding.  There could be a real shift in attitude over the next six to twelve months as the landscape changes.” 
 
Comment on Bank of England gross mortgage lending in November
Thursday, 04 January 2018
John Phillips, Just Mortgages and Spicerhaart group operations director, says “It is no surprise that the value and number of remortages was up in November.  The industry was expecting a boom as so many fixed rate deals came to an end.  However, the number of interest only mortgages that also came to fruition must have been a factor as those borrowers, that had no exit plan, found themselves needing to remortgage.  There are many more that will be in the same situation in the coming months and I expect that remortgaging will continue to be the element that keeps mortgage lending figures up, even though we are heading into a traditionally buoyant time for house purchase.” 
 
Call to ‘make a plan’ for next Christmas as households feel New Year hangover
Tuesday, 02 January 2018
An estimated 7.9 million people are expecting to fall behind with their finances this January as a result of Christmas costs, according to new research published by National Debtline, run by charity the Money Advice Trust. 
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2018 – the year the government must act on skills crisis - DTL
Friday, 22 December 2017
2018 – the year the government must act on skills crisis, says construction, utilities and energy training specialist DTL  
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Family is More Important than Gifts for Brits this Christmas
Wednesday, 20 December 2017
People often say that Christmas is getting too commercialized. But a new poll by award-winning online lender Lending Stream LLC has found the actual things that Brits like most about Christmas are family, food and festive traditions.
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Who expects to spend the most this Christmas?
Wednesday, 20 December 2017
Despite the poor start this year in pre-Christmas trading*, a new survey has found that most Brits expect to spend more money this year on family, food and festive fun. The survey also revealed where people were likely to spend the most on average:
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Conveyancing Association welcomes Residential Leasehold focus in Law Commission
Wednesday, 20 December 2017
The Conveyancing Association (CA), the leading trade body for the conveyancing industry, has today welcomed the news that the Law Commission has included a project on Residential Leasehold and Commonhold, and Unfair Lease Terms, within its forthcoming 13th Programme of Law Reform. 
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