Debt News

American Express cardholders could earn £25 cashback for supporting small businesses.

American Express cardholders could earn £25 cashback for supporting small businesses.

As the Covid-19 outbreak continues, the financial strain of reduced working hours, living on statutory sick pay and redundancy will start impacting many consumers across the country

The financial strain of reduced working hours, living on statutory sick pay and redundancy will start impacting many consumers across the country

Many homeowners have opted to overpay on their mortgage to combat potential further base rate hikes. Santander customers have overpaid £335 million on their mortgages so far this year. This equates to £47.5 million per week and is a 50% increase from the same period last year, according to the bank. “As we look at the prospect of more increases to interest rates and further rises in the cost of living, it’s no surprise that more people are looking at where they can put their money now, to keep the future costs of owning their home lower,” said Graham Sellar, Head of Development, Homes at Santander UK. In contrast, 7% of UK borrowers opted to overpay on their mortgage in the first half of 2021, according to insurance broker LifeSearch. Cumulatively, this amounted to £7 billion from January 2021 to August 2021, with the average borrower overspending £319 on their mortgage. 

Many homeowners have opted to overpay on their mortgage to combat potential further base rate hikes.

Today marks the start of the Chartered Institute for Securities and Investment’s (CISI’s) Financial Planning Week. We highlight six steps to organising your finances.

Today marks the start of the Chartered Institute for Securities and Investment’s (CISI’s) Financial Planning Week. We highlight six steps to organising your fin

Following the news yesterday that low-income households are facing the fastest rise in consumer debt since the financial crisis, we have taken a look at how consumers can become debt-free in 2020

Following the news yesterday that low-income households are facing the fastest rise in consumer debt...

Growing optimism about the economy, combined with some older consumers continuing to feel the impact of the pandemic on their finances

Growing optimism about the economy, combined with some older consumers continuing to feel the impact of the pandemic on their finances

Inflation rose by 10.1% in the 12 months leading to July, according to the latest figures from the Office for National statistics (ONS). In comparison, inflation was recorded at 9.4% in the 12 months leading to June.

Inflation rose by 10.1% in the 12 months leading to July, according to the latest figures from the ONS.