Despite the base rate of interest being cut by 4.5 per cent over the last twelve months, mortgage lenders have failed to pass on this debt help to their customers – only dropping the rates on their customer’s mortgage debt by an average of 1.3 per cent. Figures from moneysupermarket.com show that the average interest [...]
homeowners
Rise in mortgage lending “only seasonal” warn IVA providers
The total amount of money borrowed in June for mortgage purposes rose sharply compared with the previous month, according to mortgage lenders. The news has been regarded with caution by IVA providers and Debt Management specialists who do not see this as a sign that the economy is improving, or that the recession is at [...]
Debt advice for homeowners
More homeowners could find themselves in need of debt advice as news emerged that house prices have fallen for another month. The decline in property values has led to an increase in the number of consumers that are finding themselves in financial difficulty. Many homeowners thought of the equity in their house as a pension, [...]