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News articles:
The return of negative equity?

Incompetence at the Bank of England ?
Is the housing market bubble about to burst?
Worst crisis for 20 years, say banks
Borrowing costs to rise as a result of credit market turmoil
Home repossessions 'rise by 30%'
Wake up call for investors
More than two million people are permanently overdrawn
Blair's legacy is a nation engulfed by debt
Mortgages eat up half wages of some first-time buyers
Savings rate drops to lowest level since '60s
Bank chief hints at rate rise to 6pc
Student debts break £3 billion
House prices rise modestly in June


 

 

 

 

 

 

 

 






 

 

 

 

 


 

 

 

 

 

 

Home repossessions 'rise by 30%'

  • Council of Mortgage Lenders (CML) says repossessions on the rise
     
  • 14,000 homes repossessed in the first six months of the year, a 30% rise yr-on-yr
     
  • Numbers of mortgages in arrears now at 125,000
     
  • Rise in sub-prime lending making the problem worse
     
  • UK Insolvency Service has said that the number of people going bust actually fell 8% in the second quarter of 2007
     
  • IVAs fell 15% between the first and second quarters.


Read full article (BBC website)

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Directgov - Dealing with debt problems

PricewaterhouseCoopers claims that Britons now spend almost one fifth (19%) of our disposable income paying off debts. This is even higher than at the start of the last housing crash in 1989.

When the economy is in recession it is quite difficult to get a loan even with a good idea. When the economy is booming its is easy to get a loan, even with a bad idea. It's never been easier to borrow money! Funny how banks never learn this lesson (June 2007)