Expert views & facts
Debt consolidation & credit cards
Credit cards are a two-way thing: on the one hand, they are an extremely quick and convenient way of funding purchases. On the other hand, particularly if you are only making the minimum repayments, credit cards can be very costly.
The Telegraph measured the average credit card APR at 17.4% in August, and this figure has been consistently rising in recent months, despite two base rate cuts by the Bank of England. The credit crunch has meant that lenders can’t take as many risks as they did when the economy was booming – and that involves higher interest rates.
Secured Loans & the Special Liquidity Scheme
Credit, from mortgages and secured loans to unsecured loans and credit cards, has become, in general, harder to obtain and more expensive since the credit crunch began.
Mortgages, house prices & homeowners
Whatever you may hear, falling house prices aren’t necessarily terrible news for all homeowners.
House prices. Who’s talking? Who’s listening?
House prices. It’s a big topic. Not just because houses are a major investment (and mortgages are a major debt), but because property values affect just about everyone, whether they’re buying a house, selling one, renting one – or just living in one.
Stamp duty relief – a relief for the mortgage market?
Helping people buy a home, the Government has announced it is suspending stamp duty on properties costing £175,000 or less.
Given today’s concerns about loans, debt and mortgages, it wouldn’t be too surprising to see prices just over that limit dropping to just below that limit. If two very similar houses were for sale:
Consumers `shunning loans in favour of savings`
As fears surrounding personal finance problems rise in the UK, consumers are increasingly shunning loans in favour of saving their cash.<
Mortgage rates come down
Good news for mortgages, as major mortgage providers announce a series of reductions in rates.
Fixed-rate vs. variable-rate mortgage: which should I choose?
A recent study by financial solutions company ThinkMoney.com, showed a recent shift in the type of mortgage homebuyers were more inclined to buy.
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