Tag Archives: mortgages

Debt and money news – August 2016

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August is often referred to as the ’silly season’ for news stories, where the papers are full of whimsical stories.

That hasn’t stopped this month also being jam-packed full of goings-on in the world of debt and money news. Continue reading »

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June’s money and debt news

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Unexpected bills, payday loan complaints and debates over credit card limit increases were all hot topics in money and debt related news this month. 

In brighter news, for those hoping to get on the property ladder, chartered surveyors predict that house prices may fall over the next three months – the first fall in six years. And the final design for the new £5 note has also been revealed, and tests show that these new notes can withstand the washing machine much better than their predecessors!

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Preparing for interest rate rises [infographic]

posted by in Budgeting Leave a comment

With plenty of talk about interest rates going up in the near future, it’s important to know what steps you can take to prevent any increases in your mortgage payments tipping your finances over the edge.

We recently covered the basics of mortgage interest rate rises, telling you how this could affect you or your debt solution and tips on preparing for the changes.

And now research from the Money Advice Service (MAS) has found that almost half of households (47%) in the UK would struggle to cover their mortgage payments if there was a rise in interest rates.

To help explain things clearly and offer ways to save money, they’ve put together a helpful graphic to explain what could happen if the rates increased.

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How to afford the mortgage rate rises

posted by in Budgeting, Debt news 3 Comments

[If you’re having problems with rent arrears instead, read our rent arrears article]

Terraced houses

Mortgage rates are rising – what can you do?

After a few years in the doldrums mortgage interest rates are predicted to rise over the next few months (some have already started). What can you do to reduce the financial pain this can cause?

Many people will find their monthly mortgage payments will increase, and with high food and fuel costs, many households are already struggling to cover their priority payments. We recently reported that the number of over-60s who can’t afford their mortgage has jumped by nearly 50% in two years.

Others may be comfortably meeting their commitments at the moment but are worried about the impact of increasing mortgage interest rates on their household.

Today we’ve outlined the existing options available to mortgage holders who are already struggling to make mortgage payments and those worried about the future.

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