Unemployment has now risen to 2.38 million in the last three months, the Office for National Statistics reported. Unemployment figures do not indicate the depth of the recession or when we are nearing the end. Businesses are still fighting for their survival and they continue to cut jobs as a way of saving money...
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Some Buy-to-Let landlords have been hardest hit by the current downturn in the economy and are losing properties by three times the rate of ordinary homeowners. Landlords saw the housing boom as an easy way to make money and many felt that the property boom would never end or so they thought. It seems...
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The number of homes being repossessed by mortgage lenders rose by 54% to 40,000 according to the Council of Mortgage Lenders (CML). The Financial Services Authority (FSA) recently reported that house arrears had surged forward by 31%. As the credit crunch bites ever deeper people who are struggling to pay their mortgages are searching...
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Latest forecast by the British Chamber of Commerce suggests that unemployment figures could rise to ten percent or around 3.1 million people during this year 2009. According to Credit Action personal debt in Britain today stands at almost £1.456 billion in November and the amount of debt has surged ahead of the country’s gross...
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We are generally apprehensive of the unknown and this is true of contacting debt Management organisations as we don’t know what to expect. When you have made contact with a Debt Management charity you should then be put through to a debt management advisor. The debt advisor will assess your current personal financial situation...
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Home repossessions in the UK are at a 12 year high. The recently privatised Northern Rock Bank is repossessing 50% more homes than the mortgage industry average. Ouch! In order to avoid repossession you need to talk to your mortgage lender as soon as you realise that you cannot afford your mortgage payments. The...
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