money debt and credit advice
New year surge in divorce rate predicted
Councils across England are forecasting a surge in the divorce rate next month as couples succumb to the multiple pressures of Christmas, mortgage arrears and recession, the Local Government Association said last night.
It asked 155 council chief executives about the impact of the economic downturn on voluntary organisations that receive funding from the municipal budget. [...]
New year surge in divorce rate predicted
Councils across England are forecasting a surge in the divorce rate next month as couples succumb to the multiple pressures of Christmas, mortgage arrears and recession, the Local Government Association said last night.
It asked 155 council chief executives about the impact of the economic downturn on voluntary organisations that receive funding from the municipal budget. [...]
Mortgage approvals fall by 61% to record low
The number of mortgages approved for house purchases fell to a record low in November, despite the 1.5% cut in interest rates at the start of the month, the British Bankers’ Association (BBA) said today.
Just 17,773 loans were approved for homebuyers during the month, down from 20,767 in October and 61% below last November’s figure [...]
Grants better than loan shark-style government
This weekend the Department for Work and Pensions proposed applying store card interest rates to social fund loans. After cross party outrage, this mean-spirited suggestion was followed by a red-faced, whip-smart reversal, with spokespeople rigorously denying this was ever the plan.
There’s one good thing about this fiasco: it’s bought the iniquitous social fund back into [...]
Grants better than loan shark-style government
This weekend the Department for Work and Pensions proposed applying store card interest rates to social fund loans. After cross party outrage, this mean-spirited suggestion was followed by a red-faced, whip-smart reversal, with spokespeople rigorously denying this was ever the plan.
There’s one good thing about this fiasco: it’s bought the iniquitous social fund back into [...]
Grants better than loan shark-style government
This weekend the Department for Work and Pensions proposed applying store card interest rates to social fund loans. After cross party outrage, this mean-spirited suggestion was followed by a red-faced, whip-smart reversal, with spokespeople rigorously denying this was ever the plan.
There’s one good thing about this fiasco: it’s bought the iniquitous social fund back into [...]
Minister’s U-turn on interest charges for social fund after ‘loan sharks’ jibe
The government was yesterday forced to perform a rapid U-turn over plans to charge high-street levels of interest on loans to some of the poorest people in Britain who rely on a social fund when they experience financial difficulties.
Hours after the government was accused of acting like “loan sharks”, the welfare minister, Kitty Ussher, took [...]
Crisis loans: Explainer
Who qualifies and what would the proposed changes have meant?
How an excessively low valuation can leave you feeling really down
Long-time homeowners coming to the end of mortgage deals are being forced to take more expensive loans than they had planned for because of lower-than-expected valuations on their properties.
Surveyors are wrong-footing many households seeking mortgages with steep downward corrections in value, known as “down-valuations”.
The result is that remortgaging homeowners who mistakenly bank on high levels [...]
Pay-back times for the interest-only mortgage
With house prices falling, relying on equity to pay off a loan is high risk. Jill Papworth reports
