UK household debt soars to record £1.5 trillion

UK household debt soars to record £1.5 trillion

Household debt in the UK has risen to a record £1.5 trillion – that is £1,500,000,000,000 – and it’s still rising. The rate of growth is faster than at any time since the financial crisis of 2008, rising by £52 billion since September 2015 with the average adult owing £30,000.

Does your mortgage lender owe you money?

Does your mortgage lender owe you money?

A new ruling by the UK financial regulator means hundreds of thousands of people in arrears with their mortgage may be owed compensation from their lender. The Financial Conduct Authority (FCA) conducted a review of the mortgage market and found some lenders have been automatically including mortgage arrears when recalculating regular monthly payments.

Credit card debt jumps £500 million in a month

Credit card debt jumps £500 million in a month

Britain’s credit card debt rose by £500 million last month – the fastest growth since the financial crash of 2008. Latest figures released by the Bank Of England show our national credit card debt now stands at £66 billion – the equivalent of £2,400 per household.

Britain on a debt binge?

Britain on a debt binge?

As personal debt in the UK rises to a record £1.5 trillion, experts are asking if Britain is on a debt binge. The debt mountain has risen by £50 billion in the last year, according to figures from The Money Charity.

What happens to your debts when you die?

What happens to your debts when you die

Latest figures show we British owe more personal debt than ever before – but have you ever wondered what happens to that debt when you die? Does it die with you or is left behind for your loved ones to deal with as best they can?

Help To Buy mortgage guarantee dropped

Help To Buy mortgage guarantee dropped

A major part of Help To Buy – the government’s flagship housing policy – is to be dropped says Chancellor Philip Hammond. In a letter to the Bank Of England he has confirmed the mortgage guarantee scheme will not extend past the end of the year.