Thrifty Loans

UK Borrowing Higher Than Ever

Brits are clearly relying on borrowed money more than ever before The average Briton now owes £33,000 compares with £17,000 in 2000. That’s nearly a doubling of debt in seven years. The main reason for the increase in debt is because of rising house prices and increased mortgages. Gloomily, experts are predicting that tough times [...]

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Equity Release Or Downsizing?

For some, equity release might work better than downsizing to give them extra cash for their later years. The managing director of home reversion specialist Home & Capital Advisers, Nigel Hare-Scott, says that downsizing may not be an attractive choice for some older people as it might mean moving away from family and friends, as [...]

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New Fears In Financial Markets

Fears sprang anew in the financial markets this week as top banks were said to be hoarding money to cover the risk of further possible losses due to the sub-prime crisis. The three-month bank loan rate was up in London on Monday, to 6.45%, much higher than the Bank of England base rate of 5.75%. [...]

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OECD Says Things Will Get Worse

The Organisation for Economic Cooperation and Development (OECD) has said that the recent turbulence in share prices were just a ‘precursor of a more protracted downturn’ in world stock markets. The FTSE 100 index has been down and up by over a hundred points on various days this week. There was also news that only [...]

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