Home repayments are first priority

Homeowners within the UK are no longer cashing in on the value of their properties to fund spending, latest figures show.Quarterly figures released from the Bank of England on housing equity withdrawal showed a second successive negative reading during July and September. Read more

Consumer pain looms with continued credit hikes

Millions of people are set for their biggest ever financial distresses in the new year as the squeeze on money markets hits households across the UK.

City analysts are warning that the last two weeks of November were the worst on record in the credit market as UK banks refused to lend each other money. Experts predict that this anxiety will be passed on to consumers during December in the form of steep rises in borrowing charges. Read more

MBNA criticised over credit cash

Credit card firm MBNA has recently came under attack for encouraging its borrowers to withdraw more cash on their credit cards so they can splash out over the Christmas period.

MBNA the world’s second largest credit card provider has been sending letters to what it describes as its ‘best’ customers, announcing it has raised their credit limits

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