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News in Loans
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Borrowers 'must keep an eye on interest rates'
People borrowing money must keep an eye on the interest rates on the products and compare the best deals, one sector expert has advised. More »
Loans - Wed 25 Aug 2010
Lending to family 'is a difficult situation'
People can find that lending money to family members places them in a "difficult position", according to an expert.
Last week, research from Scottish Widows revealed that eight per cent of adults have given or lent money to their parents, with the average sum standing at £8,250.
Chartered financial planner Martin Bamford, managing director of Informed Choice, pointed out that people who lend money to their families run the risk of falling into debt themselves.
"If there is a family obligation [or] you have to lend money to a parent almost as a repayment for money they have lent you in the past … it can tip people into a very difficult position," he commented.
Mr Bamford pointed out that younger people are not immune from events such as redundancy or health problems and said they have to make sure they keep enough money in their savings to cover against these eventualities.
The expert added that people undertake thorough financial planning when deciding whether to lend money to their family members and consider their long-term monetary health rather than just their immediate circumstances.
More »
Loans - Mon 23 Aug 2010
Payday loans 'must not be the first option'
People struggling financially should not resort to payday loans until they have first explored other means of lending, such as a credit union or bank, one expert has claimed. More »
Loans - Tue 17 Aug 2010
Brits 'getting into debt for holidays'
More than two million people in the UK are willing to get into debt to go on holiday this year, new research has suggested. More »
Loans - Tue 3 Aug 2010
Brits 'owe more than UK produces'
The UK's residents now owe more than the country's whole economy produces in a year, new figures have shown. More »
Loans - Fri 30 Jul 2010
Equity release figures 'are concerning'
The number of people attempting to pay off debts with equity release is worrying, an expert has suggested. More »
Loans - Fri 9 Jul 2010
Brits 'risking debt for a holiday'
Almost two-thirds of British holidaymakers are increasing their debt to fund their trip, according to new research. More »
Loans - Fri 9 Jul 2010
UK personal debt 'to rise slowly'
It is likely that personal debt will continue to rise in the UK over the next year, according to an expert. More »
Loans - Fri 2 Jul 2010
Banking loyalty 'costs £2,714 a year'
New research has claimed that staying loyal to a bank or building society could cost savers more than £2,700 a year. More »
Loans - Wed 30 Jun 2010
Payday loans 'need to be more transparent'
There needs to be more clarity over the fees and charges attached to high-cost credit options such as payday loans, it has been claimed. More »
Loans - Fri 18 Jun 2010
Increased cost of borrowing 'damaging confidence'
Consumer confidence has been damaged by the increased cost of borrowing, an expert has pointed out. More »
Loans - Thu 17 Jun 2010
Brits 'using personal loans for education'
Personal loans worth around £37 million were taken out in Britain last year to pay for education, it has been claimed. More »
Loans - Tue 8 Jun 2010
PPI point-of-sale ban 'could hurt borrowers'
The planned ban on point-of-sale payment protection insurance (PPI) could be bad for consumers, according to an expert. More »
Loans - Tue 18 May 2010
Self-employed 'need to be attentive to finances'
Self-employed people should be careful to distinguish between their personal and business finances, it has been claimed. More »
Loans - Mon 10 May 2010
Brits 'more cautious about debt'
People seem to have become more wary of borrowing and spending as a consequence of the recession, an expert has claimed. More »
Loans - Fri 7 May 2010
Debt consolidation with personal loans 'is declining'
The number of people using personal loans for debt consolidation is falling, it has been revealed. More »
Loans - Tue 20 Apr 2010
Brits 'starting to borrow heavily again'
People in the UK seem to be turning their backs on repaying debts and are returning to borrowing, it has been claimed. More »
Loans - Thu 1 Apr 2010
Paying off debts 'more important than saving'
People should be looking to pay off their debts rather than save money, an expert has suggested. More »
Loans - Thu 25 Mar 2010
UK credit 'needs to be more inclusive'
Lenders should open up the UK's credit market to stop people becoming disenfranchised from financial services, it has been suggested. More »
Loans - Tue 23 Mar 2010
