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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


 

 

 

 

 

 

 

 






 

 

 

 

 


 

 

 

 

 

 

Blair's legacy is a nation engulfed by debt

  • As the price of money rises and the pain of higher interest charges is beyond that which many troubled borrowers can tolerate (100,000 went bust last year)
     
  • Nearly 250,000 people had county court judgments served on them for non-payment of debts in the first quarter of 2007, a 10-year high.
     
  • house repossessions would top 55,000 in 2009 (as bad as early '90s
     
  • The slice of our income we tuck away in bank accounts, pensions and investments has dropped to just two per cent, the lowest level since records began in 1960.
     
  • More women than men have debt problems: 54 per cent of callers to National Debtline are female.

Read full article (Telegraph.co.uk)

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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)