ReleaseWire Connect

Huge contrasts in the traditional trend of increasing mortgage debt. What does this mean for the UK housing market and debt levels?

According to the Bank of England’s Credit Conditions Survey Overdrafts and personal loans will be limited to ‘better quality’ borrowers over the next three months.

One of the UK’s leading providers of consumer debt advice has welcomed the Government’s firm action to tackle ‘financial exclusion’ outlined in the 2010 Budget.

New figures released from the Bank of England show the number of mortgage approvals fell in February, continuing the slow start to 2010 for the housing market.

New rules designed to help credit card customers stay in control of their debts will come into force by the end of January 2011.

According to new statistics from uswitch.com the amount of energy debt in the UK has hit £728 million and 5.5 million households, 21 per cent of all UK households are now in debt to their energy supplier.

Bankruptcy petition fees from the Government backed Insolvency Service will increase from £360 to £450 from 6th April 2010. This basic fee increase equates to 25 per cent and there will also be an additional court fee of £150. The new total fee is £600, just £60 short of double the current fee.

The payment limit was raised on contactless cards yesterday to £15 per total purchase. This includes credit cards and debit cards using the new 'contactless' technology which allows customers to swipe their card to pay for purchases of £15 or less without entering a PIN or providing a signature.

Credit card interest rates hit an average of 18% - how can this be justified with an all-time low base rate of just 0.5%?!

Debt Advisory Line and Moneysupermarket.com warn of using a non DEMSA registered debt management company.