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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


 

 

 

 

 

 

 

 






 

 

 

 

 


 

 

 

 

 

 

Mortgages eat up half wages of some first-time buyers

  • People paying close to a third of their income in mortgage charges, rising to almost 50% for people in their 20s in some parts of London
     
  • 66% increase in mortgage payments for people in their 20s over the past five years
     
  • 1.5m households with fixed rate loans will face higher repayments when their time-limited deals expire
     
  • Equity withdrawal stood at just over £13bn in the second quarter
     
  • Interest rates rise by another .25%
     

Read full article (Guardian Unlimited)

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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)