Think Money

Could Professional and Career Development Loans help graduates?

Wed, 16 May 2012 11:17:41 GMT

Professional and Career Development Loans (PDCLs) are available to graduates who wish to take on further education or training - but cannot fund it themselves. If you are between the ages of 18 and 69, you could borrow between £300 and £10,000 to fund any approved course - including full-time, part-time and distance learning courses. The course can last up to two years - or three if there is a year of work experience.

Full article: Could Professional and Career Development Loans help graduates?
Visit: www.thinkmoney.com

Home repossessions stable; mortgage arrears falling

Wed, 16 May 2012 11:51:51 GMT

According to figures from the Council of Mortgage Lenders (CML), the number of properties repossessed in the first quarter of 2012 was 9,600 - the same number seen in last year's first quarter - breaking with the recent trend in year-on-year increases in home repossessions. Although home repossessions in the first three months of 2012 were higher than the 8,700 homes repossessed in the last three months of 2011, this marks a typical seasonal pattern - with general activity across the repossessions 'landscape' looking stable for the time being.

Full article: Home repossessions stable; mortgage arrears falling
Visit: www.thinkmoney.com

Women's Institute getting more popular

Wed, 16 May 2012 12:22:3 GMT

Think of the Women's Institute (WI) and you may form an image of jam and scones, country fairs and cross stitch, but the society is reporting thousands of new members in these tough economic times, as women look for new ways to save money, reports thisismoney.co.uk. You don't have to be in debt to want to save money. The WI teaches skills like dressmaking and home cooking, which are proving popular among more young women and city dwellers looking to make savings in their budget.

Full article: Women's Institute getting more popular
Visit: www.thinkmoney.com

Wireless Festival to offer contactless payment wristbands

Wed, 16 May 2012 13:7:32 GMT

People attending this year's Wireless Festival will be able to pay for food, drinks and merchandise with just a swipe of their wristband - thanks to the same technology that powers contactless debit cards and mobile phones. Barclaycard - which sponsors the event - will be issuing the PayBand, which can be loaded with money from the user's bank account at points around the festival. It's hoped that this will be quicker and more secure than withdrawing cash from an ATM.

Full article: Wireless Festival to offer contactless payment wristbands
Visit: www.thinkmoney.com

Availability of personal loans 'gradually improving'

Tue, 15 May 2012 10:3:42 GMT

Lending figures for the first quarter of 2012 suggest that consumer credit markets are showing gradual signs of improvement. The Finance & Leasing Association (FLA) said that total consumer finance provided by its members increased by 9% in March, compared with the same time a year ago. This includes personal loans, credit cards, store cards, store instalment credit, second mortgages and car finance.

Full article: Availability of personal loans 'gradually improving'
Visit: www.thinkmoney.com

Insurance and empty houses - a warning

Tue, 15 May 2012 10:42:6 GMT

Buildings and contents insurance can give homeowners real peace of mind: if the pipes burst, for example, or someone breaks in, they can turn to their insurance to cover the cost. But what if their property's empty for a period of time? Where do they stand then? An article in The Telegraph takes a look at the question.

Full article: Insurance and empty houses - a warning
Visit: www.thinkmoney.com

What will be the biggest mobile banking trends of 2012?

Tue, 15 May 2012 11:1:35 GMT

Pieter De Villiers - CEO of Clickatell - told MyBroadband BusinessTech that the biggest mobile banking trends this year will be person-to-person payments, mobile cheque capture and customised apps. As you can see, businesstech.co.za is a South African site, but Clickatell is a global company - 'the largest Online SMS Gateway covering 819 networks in 221 countries and territories'.

Full article: What will be the biggest mobile banking trends of 2012?
Visit: www.thinkmoney.com

Low-income households 'relied on debt to spend'

Tue, 15 May 2012 11:42:49 GMT

Low- to middle-income households relied on borrowing to cover a lot of their costs for more than 10 years before the onset of the financial crisis, according to a new report for the Resolution Foundation. The findings reveal the full impact of the rise in people taking on debt and the fall in household savings rates in the lead-up to the 2008/09 financial crisis - with the worst-off 10% outspending their income by 40% by 2007.

Full article: Low-income households 'relied on debt to spend'
Visit: www.thinkmoney.com

Bank rate: low for at least one more year

Mon, 14 May 2012 10:46:37 GMT

The Bank of England's base rate is expected to stay low for another year at least, according to analysts IHS Global Insight. While it's good news for plenty of homeowners, savers won't be pleased. A lot of people rely on the interest generated by money in their bank accounts, and they've lost out on a lot since the base rate was taken down to 0.5% in March 2009. Since then, the Save our Savers campaign claims, savers have lost out on a total of £102 billion.

Full article: Bank rate: low for at least one more year
Visit: www.thinkmoney.com

Soca raids close websites selling credit card details

Mon, 14 May 2012 11:25:15 GMT

36 websites selling credit card details and other personal information have been closed down following two years of observation by Soca, the Serious Organised Crime Agency, reports the BBC. There were raids in Australia, Europe, the UK and the US, in a joint effort by international law enforcers. Two British men and a man from Macedonia were arrested and it's estimated that more people will be arrested soon.

Full article: Soca raids close websites selling credit card details
Visit: www.thinkmoney.com

A look at personal debt in the UK

Mon, 14 May 2012 11:50:40 GMT

Outstanding personal debt in the UK stood at £1.458 trillion at the end of March 2012, up from £1.451 trillion at the same time last year, according to the latest debt statistics from Credit Action. The average UK household owed debts (excluding mortgages) totalling £7,903 in March, showing an increase from February's revised total of £7,884. Including mortgages, the typical amount of debt per household in the UK stood at £55,436 in March, rising from a revised £55,384 in the previous month.

Full article: A look at personal debt in the UK
Visit: www.thinkmoney.com

Poorest families see highest inflation

Fri, 11 May 2012 10:54:21 GMT

It seems that the rising cost of living is hitting the UK's poorest families the hardest. The rising cost of gas, electricity and food is simply more of a burden on poorer households than on richer ones. This is according to the TUC living standards index. It confirmed that the poorest 10% of British households have been hit hardest by inflation because they spend a larger percentage of their income on utility bills and food - the prices of which are rising faster than the rate of inflation in general.

Full article: Poorest families see highest inflation
Visit: www.thinkmoney.com

BTL mortgages: latest news

Fri, 11 May 2012 12:34:9 GMT

The latest figures on BTL (Buy To Let) mortgages have just been released by the Council of Mortgage Lenders (CML), showing us what happened in the first three months of the year. In total, mortgage providers granted 32,300 BTL loans, worth a total of £3.7 billion. This was a 5% drop on the previous three months, but also an increase of 32% when you look back to the first quarter of last year.

Full article: BTL mortgages: latest news
Visit: www.thinkmoney.com

Savers are '£102 billion worse off'

Fri, 11 May 2012 13:4:44 GMT

The Monetary Policy Committee (MPC), who set rates, have voted against increasing quantitative easing - the Bank's £325 billion asset purchase scheme. This is despite entering the first double-dip recession since the 1970s. The Bank of England has decided not to re-start its 'monetary stimulus programme', and this has lead to accusations that it is not doing enough to jump-start our economy.

Full article: Savers are '£102 billion worse off'
Visit: www.thinkmoney.com

When there's a new kind of debt...

Thu, 10 May 2012 11:21:54 GMT

Debt is nothing new, but the way people borrow really changes over time - and so does the way they see their debt. The Chief Executive of the Consumer Finance Association*, John Lamidey, points out that credit cards, for example, weren't always as accepted as they are today. As credittoday.com reports, while the 'reputational issues' around payday loan debt are seriously in the media spotlight these days, Mr Lamidey sees payday loans as 'the new credit card'.

Full article: When there's a new kind of debt...
Visit: www.thinkmoney.com

HSBC latest bank to roll out contactless payments

Thu, 10 May 2012 11:52:32 GMT

HSBC is the latest in a recent line of major high street banks to launch contactless payments for its customers, allowing contactless cardholders to pay for goods and services with a simple 'tap', the Guardian reports. The bank has started to roll out the new contactless cards to existing customers whose debit cards are due to expire this month. HSBC will then continue the process as cards expire, rather than sending all its customers new cards right away.

Full article: HSBC latest bank to roll out contactless payments
Visit: www.thinkmoney.com

3.5 million homeowners 'missing some home insurance'

Thu, 10 May 2012 12:31:31 GMT

According to research from MoneySupermarket.com, almost 3.5 million homeowners in the UK are putting their home and its contents at risk by not having adequate home insurance cover. The comparison website found that almost one in ten homeowners are missing out on some kind of home cover and only have either buildings or contents insurance - but not both. Nearly 1.5 million homeowners said they have contents cover only, while 1.3 million admitted to only having buildings insurance.

Full article: 3.5 million homeowners 'missing some home insurance'
Visit: www.thinkmoney.com

22% of Brits 'eating less healthily' due to recession

Wed, 9 May 2012 12:53:52 GMT

Many people in the UK struggling to make ends meet as a result of the recession are feeling the effects when it comes to their eating habits, with 22% eating less healthily, research has revealed. New data from insurer PruHealth has indicated that the continuing rise in living costs is affecting the nation's diets - with 10.6 million people not eating as healthily as they'd like. More than half (52%) of those surveyed believe that their health has suffered in light of the recession and its squeeze on their finances.

Full article: 22% of Brits 'eating less healthily' due to recession
Visit: www.thinkmoney.com

Increase in house sales 'runs out of steam'

Wed, 9 May 2012 13:11:26 GMT

The sharp rise in house sales in the first few months of the year has showed a marked slowdown in the wake of the stamp duty holiday deadline for first-time buyers. According to research from the Royal Institution of Chartered Surveyors (RICS), the number of newly agreed house sales has fallen - a sign that activity in the property market has 'run out of steam'.

Full article: Increase in house sales 'runs out of steam'
Visit: www.thinkmoney.com

Could a credit card now be cheaper than a loan?

Wed, 9 May 2012 14:54:50 GMT

In the past, personal loans have been preferred over credit cards for long-term borrowing. This is because, over a long period, credit cards could traditionally cost you a lot more in interest. Things have changed, however, according to an article on AOL Money. With many credit cards now offering 0% over lengthy periods, some people are wondering whether credit cards could be the best option.

Full article: Could a credit card now be cheaper than a loan?
Visit: www.thinkmoney.com