RBS To Cut 3,500 Jobs
Published on September 3, 2010 | Author: sona
Filed Under UK Debt | Leave a Comment
Is your job situation affecting you financial stability?
More than 80% of the Royal Bank of Scotland is owned by the government and it is planning to cut 3,500 of jobs. 318 of its branches have been sold to Santander, which caused a third of the job losses. In 2009, it estimated that 27,000 employees would lose their incomes. The figure is now to reach 30,000 jobs instead.
Cuts in spending budget will cause the unemployment rate to increase even further, when they come into force. More people will struggle mainly with their mortgage repayments, especially when the interest rate goes up.
Quick Cash For Properties can help you with your money problems now, easy and hassle free. Call us now on 0800 933 6137 and find out how we can help you.
Growing Insolvency In The UK
Published on September 3, 2010 | Author: sona
Filed Under UK Debt | Leave a Comment
Worried about your debt?
Thousands and thousands of people in the UK have been having sleepless nights as their money problems have been creating big issues in their lives. According to The Insolvency Service, 34,700 people in the UK became insolvent in the second quarter of 2010.
Getting into a financial crisis can be as simple as becoming unemployed, decrease in your income or becoming ill unexpectedly. Even though you have not got sufficient finances available to pay for all monthly outgoings, they still have to be paid for, otherwise you debt may spin out of control and lead to serious money issues, insolvency or house repossession.
If you are seriously worried about your financial stability, Quick Cash For Properties may be able to help you get on the right track. Call 0800 933 6137 today for more details.
Borrowers Unable To Repay Debts
Published on September 1, 2010 | Author: savannah
Filed Under UK Debt | Leave a Comment
Quick Cash For Properties can help
According to figures from the Bank of England, the amount of credit card debt written off by lenders in the second quarter of 2010 hit record levels of £2,1b. Despite rumours that there has been a fall in the number of worried borrowers, this figure is £0.8b higher than it was in the first quarter of the year.
The most up-to-date figures from Bank of England suggest that those who borrowed more than they can afford to pay back, are facing debts that they are unlikely to repay in future. This comes as a result of worries over unemployment and lower income in general.
Many face insolvency or a house repossession as they fail to repay what they owe. Quick Cash For Properties can help you avoid losing your house and clear your debts. Call us now on 0800 933 6137 for more details.
Saving Levels Decrease As People Try To Pay Off Their Debts
Published on August 28, 2010 | Author: sona
Filed Under UK Debt | Leave a Comment
Do You Need Help?
As the country is in danger of a double dip recession, we have seen more Brit’s repaying their debts, compared to the beginning of the financial crisis. Saving levels are plunging as people repay 7p for each pound they saved in the second quarter of 2010. Savings fell by £7bn during the period, in comparison to the first quarter of 2010.
Karen Barrett, Chief Executive of unbiased.co.uk said: ‘For the first time since 2008, consumers are now paying off more debt than they’re borrowing – however this has inevitably also resulted in a drop in saving levels.
For those who are not in a position to save or are unable to clear their outstanding debts, a quick house sale is one of the options they can reach for.
Quick Cash For Properties can help you sell your home to help clear debts so you can move on with your life, stress-free. Call 0800 933 6137 now!
People In Debt Getting Into More Debts
Published on August 26, 2010 | Author: zoe
Filed Under UK Debt | Leave a Comment
Can you sustain your debt?
Fresh news revealed that people have managed to run up even more debts during the ongoing economic crisis. The reason behind this is that consumers have become addicted to fashion – results have shown a staggering £24million debt, a large majority of this has been down to retail spending.
The average debt figure for this period now stands at £3425 for men and £3353 for women. This represents a massive £10million men debt, while women are responsible for around £13 million. Unsecure debts will cause the economic recovery to take longer. People with debts are still spending; many are being warned that they are asking for trouble in the future.
Unsustainable money problems have already led many to insolvency or even a house repossessions. The repossession rate is set to go up as more and more people are failing to meet their monthly payments.
If you need a fast solution to your debt, Quick Cash For Properties can help you pay it off. Call 0800 933 6137 now for more details.
Households Fear Over Their Financial Stability
Published on August 24, 2010 | Author: savannah
Filed Under UK Debt | Leave a Comment
Get away from your debt with Quick Cash For Properties today
According to the latest survey by YouGov/Markit, more than 67% of households believe that they are paying out more for goods and services than they did only a month ago. Britons are becoming more and more pessimistic about the future outlook as millions fear over job cuts, increase in prices and weakening housing market.
According to the survey, the country has experience the most rapid fall in private sector job security. A third of the 2,000 households surveyed said that their financial situation has gone downhill during the current month. Tim Moore, economist at Markit said: ‘Stronger growth in the UK economy has done little to put the floor under the downturn in household finances. They continue to suffer from a backdrop of squeezed disposable income, stubbornly high inflation and ongoing public sector spending cuts’.
More and more households are threatened by the fact that they could get into big financial difficulties at any moment.
Quick Cash For Properties can help you clear your debts fast and hassle-free. Speak to one of our experts now on 0800 933 6137 and find out how we can help you.
Homeowners And Higher Mortgage Repayments
Published on August 20, 2010 | Author: kieran
Filed Under UK Debt | 3 Comments
Are you worried about your money situation?
Latest news revealed, that homeowners pay a staggering £1,700 more a year for fixed-rate mortgages as a result of the rates banks are offering for these deals. According to Moneyfacts, two years ago this figure was 1.28%, whereas today it stands at 3.29%.
About half of homeowners have fixed-rate mortgages. People with a £150,000 mortgage pay an extra of £149 each month in comparison to a couple of years ago. This equals to £1,778 per year and £3,576 for two years.
Higher cost of living and a lack of mortgage finance are taking a toll on those trying to get on the property ladder, mainly first- time buyers.
The Chancellor, George Osborne, is also expecting a ‘choppy and painful journey out of the recession’. More people are set to lose jobs and struggle with higher debts.
If you are struggling with high mortgage repayments and your debt is piling up, Quick Cash For Properties can show you the way out. Speak to one of our specialists on 0800 933 6137 today.
UK Borrowing Goes Down As Britain Slides In Deeper Debts
Published on August 19, 2010 | Author: zoe
Filed Under UK Debt | Leave a Comment
Say ‘STOP’ to your debts today
According to the latest news, our government borrowed much less over the month than it did in previous months. This does not necessarily mean any positive news though.
‘One swallow does not make a summer and one set of better figures should not distract from the mammoth task facing the Chancellor’, said Andrew Goodwin from the Ernst & Young ITEM Club.
Borrowing for the whole financial year is expected to be £146bn, down from £155 from the previous year. On the other hand, if we look at debt as a percentage of GDP, it is at record highs. Latest figures show that net debt increased to 63.7% of GDP, or £927bn, including bank bail-outs.
Yet, the forecast for growth is not aiming too high any longer and inflation is expected to be above targets during 2011 as a result of increased VAT from next January.
Quick Cash For Properties may have the right solution for you, if you are looking to become debt-free fast. Call 0800 933 6137 now and sort your money problems today.
Unsustainable Debts And Unemployment To Come
Published on August 11, 2010 | Author: zoe
Filed Under UK Debt | Leave a Comment
Do you need to sort your money out?
Further news released today has stated that as much as a third of employers expect to cut the number of jobs within the next 3 months. It has been reported that employers in the public sector are set to lose 36% of employees and 5.5% of employees are expected to lose their jobs across all sectors - these figures are 2% higher than three months ago.
The economy is not likely to recover anytime soon, neither is the property market. Higher unemployment rates mean smaller finance availability for mortgage deposits, people falling behind with their repayments and people falling deeper into debt.
If you are struggling with debts that have become unsustainable, Quick Cash For Properties can help you with your money problems today. Call one of our specialists now on 0800 933 6137.
Lending and interest rates?
Published on August 10, 2010 | Author: kayleigh
Filed Under UK Debt | Leave a Comment
What impact does it have on your house sale?
More accurate figures have been published today with regards to borrowings. Young people and first –time buyers are most affected by the credit crunch impact on today’s borrowings. We have seen the cost of borrowing for households soar inspite of the fact that interest rates kept falling.
According to Britain’s largest estate agent, Countrywide, the most common rate for mortgage deals taken by their borrowers just recently was starting at the rate of 6.49% – this is nearly six full percentage points above the Bank of England’s rate of 0.5%.
What is even more shocking is the rate for personal loans, which stood at 6.8% back in August 2007 and today is at 8.8% – however only for those who have a very good credit rating. Borrowers with only a ‘fair’ rating would get charged a staggering 53.9% interest rate.
Mortgage customers of Countrywide who are paying 6.49% interest cannot afford more than a 10% deposit.
The times when there were plenty of easy and cheap mortgages are gone as some of the major banks tend to refuse 90% of people who apply for a 90% loan.
“Banks now have to set aside six or seven times as much capital for a 90% loan compared to a 60% loan,” says Boulger from mortgage brokers John Charcol. This would explain why banks can charge sub-3% interest on 60% mortgages, while they require an interest rate of more than 6% on a 90% deal.
This will have an impact on the next generation. Parents that are well-off will be able to release equity in their homes and support their kids financially when they are ready to buy their first home. On the other side, for those with lower income the chances to do so are close to none.
If you are in looking for a home buyer during these difficult times, call Quick Cash For Properties on 0800 933 6137 and sell your house fast today!
