The effects of the global financial crisis are being reflected in the rising number of people seeking advice about their debts, according to officials from the Citizens Advice Bureau. The CAB claims that over the past year the level of enquiries relating to debt problems has soared by one third, and over the past few [...]

Both consumers and lenders have been adversely affected by the global credit crunch since it swept across the nation last summer. Lenders have found it increasingly difficult and expensive to secure finance on the wholesale money markets to fund their mortgage lending activities, and as such have had to slash the number of mortgage products [...]

The poor activity in the housing market in terms of sales has affected many different industries, such as property removal industry, property lawyers, furniture retailers, and estate agents. Over recent months there have been many concerns raised about the number of estate agencies that could end up closing down as a result of poor property [...]

According to a recent report the global credit crunch that has swept across the financial markets in the UK has resulted in a slump in lending levels in the mortgage markets, with a 17% year on year drop indicated in mortgage lending levels. In March the amount lent out in mortgage loans came to around [...]

A recent report has shown that a worrying number of lenders are failing to carry out important checks into the income of applicants that apply for unsecured finance, and there are concerns that this could lead to many people getting into unmanageable debt levels and could result in an increase in bad debt levels in [...]

Over recent months the Bank of England and the Monetary Policy Committee have faced a tough decision when it comes to setting interest rates. This is because on one hand the central bank needs to be very cautious about cutting the baste rate because of rising inflation, but on the other hand the bank needs [...]

According to a recent report some consumers may now be better off using their credit cards as a form of finance rather than opting for a personal loan because loan rates have been hiked up by huge amounts since the onset of the global credit crunch. Credit cards are well known for the high rates [...]

The Nationwide Building Society recently joined a number of other lenders who have decided to try and recoup the losses incurred by the global credit crunch by asking for a larger deposit from mortgage borrowers. In the past some consumers were able to avoid paying a deposit by taking out a 100% mortgage, and in [...]

According to a recent report the effects of the global credit crunch have gone much further than simply making it more difficult to get finance in the UK. Industry officials claim that many consumers are now committing higher levels of fraud on finance applications as a result of the credit crunch, as they think that [...]

According to a recent report banking officials have warned MPs and the Chancellor, Alistair Darling, that the cost of mortgages may continue to climb over the coming months, despite the launch of a £50 billion mortgage rescue plan introduced by the government, where banks will be able to exchange mortgage assets for government bonds for [...]