30% of those struggling in debt without help keep it to themselves

Research by insolvency trade body R3 has found that 30% of those struggling in debt without help are keeping it to themselves, rather than sharing their problems with the people who are closest to them. On top of this, a further 19% can’t face opening any bills they receive, while 21% said they...

62p of debt taken on for every pound saved

Britons took on 62p of debt for every pound they saved during the final three-month period of 2009, research by Unbiased.co.uk has revealed. The findings paint a picture of rising borrowing levels and a sharp decline in savings amongst Brits, suggesting people are becoming more confident – but less...

Debt taken on rose during every quarter of last year

Figures from advice website Unbiased.co.uk have revealed that the amount of unsecured debt taken on by borrowers, along with the level of equity unlocked from properties, increased throughout every three-month period of 2009, the Telegraph reports. The actual amount borrowed rose from £1.81bn during Q1 (the...

Personal debt increased in February

According to the latest ‘Lending to Individuals’ figures from the Bank of England, personal debt increased by £2.1bn in February. The total amount of debt secured on property increased by £1.586bn in February – slightly higher than in January, and higher than any of the monthly increases...

Teenagers ‘optimistic’ about money

Research by NatWest has revealed that teenagers have an ‘optimistic outlook’ on their financial future, despite the recent economic problems, the Guardian reports. The survey, which questioned 12-to-19-year-olds, found that teenagers expected to graduate with just £10,000 of debt after going...

Feeling guilty after spending money

According to research from uSwitch.com, 35% of shoppers are feeling increasingly guilty after they spend money on the high street, with one in ten (9%) taking on debt to buy something knowing they couldn’t actually afford to pay it back, headlinemoney.co.uk reports. Of the shoppers who felt guilty, 48%...

Mortgage lending remained low during February

Statistics from the British Bankers’ Association (BBA) have revealed that mortgage lending from the high street banks remained low during February, ftadviser.com reports. The figures show that mortgage approvals for house purchases increased very slightly from 35,154 in January to 35,276 in...

More students will be ‘driven into debt’ by increased living costs

Cardiff Central’s Liberal Democrat MP, Jenny Willot, has warned about the dangers of student debt after a report by the National Union of Students (NUS) revealed a ‘dramatic’ increase in student accommodation costs in Wales, politics.co.uk reports. The research found that the cost of...

Significant number of people living on a ‘financial precipice’

Recent research commissioned by credit reference agency Callcredit and carried out by YouGov has revealed that 26% of mortgage holders would be unable to afford their repayments if their monthly income was to drop by up to £300. The findings showed that one in eight 35-44-year-olds has deliberately...

1 in 5 pensioners releasing equity are carrying credit card debt

Research from equity release specialists Key Retirement Solutions indicates that one in five pensioners releasing equity from their home has credit card debt, averaging £9,000, the Telegraph reports. The average credit card holder between the ages of 65 and 69 who unlocked money from their home during 2009...