Latest news about UK debt

• Mortgage market optimism ‘waning’

  (Fri, 03 Jul 2009) Recent reports that the UK’s property sector might be in the process of recovery may be a little premature, one specialist has suggested. Mortgage expert at comparison site Moneyextra.com Richard Mason said that many people may have been overly optimistic following the Bank of England base rate cuts. He remarked: “When the base rate came ... more >>

• Consumer Advocate ‘could support Financial Ombudsman’

  (Thu, 02 Jul 2009) A new consumer initiative announced by the government today could help to provide additional help for the Financial Ombudsman, one expert has suggested. Measures planned as part of the Consumer White Paper include banning unsolicited credit card cheques and consultations on the regulation of store credit cards to ensure customers do not run up excessive ... more >>

• Debt situation is “getting bleaker”

  (Thu, 02 Jul 2009) Britain’s debt problems are looking worse and could have an effect on the economic recovery, one expert has suggested. Director of charity Credit Action Chris Tapp said the current situation may lead consumers to avoid buying things they cannot afford in the future. He commented: “We hope these statistics act as a wake-up call to ... more >>

• Citizens Advice to suggest council tax changes

  (Wed, 01 Jul 2009) People behind on their council tax payments may benefit from a new initiative announced by Citizens Advice. Launched in partnership with the Local Government Association, the scheme aims to offer a number of changes to the current processes involved in retrieving council tax arrears. Chief executive of the charity David Harker said the protocol would help ... more >>

• Consumers ‘will not lead the economic recovery’

  (Wed, 01 Jul 2009) A lack of consumer spending means the economy is unlikely to recover through this avenue, one expert has suggested. Economist at the Centre for Economics and Business Research Charles Davis commented that the recession has likely been caused by organisations making cutbacks on investment. He stated: “Consumers have not actually been saving as much as ... more >>

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