Officials offer advice on mortgage arrears

A recent report has shown that many homeowners in Scotland are struggling to keep on top of their mortgage repayments, and figures from the Financial Services Authority have shown that at the end of the third quarter of last year there were around 340,000 homeowners in Scotland that were in arrears. This was around 24 percent higher than the same period in the previous year. Read more

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50% of Brits don’t seek financial advice

More than half of people in the UK have never sought professional advice regarding their finances, a new study has revealed.

Research from Zurich has shown that 57 per cent of all Brits and 84 per cent of those aged 18 to 24 years old have never asked for financial advice.

Half of the people surveyed said that one of the reasons they have not approached anyone for advice about their money situation is that they feel is would not be of much value to them as they do not have a large disposable income.

Tony Solomon, director of Life Marketing at Zurich, said: “The sheer number of people walking blind into their financial decision-making presents a disturbing trend in society and an alarming picture for the future.”

Figures from Credit Action have revealed that the households pay an average interest of £3,790 each on their total debt every year.

Tags: Brits, Human Interest, GBP, picture, professional advice, Zurich, Credit Action

Payment Protection Insurance – Worth The Extra Cost?

Protecting yourself against going into debt is a logical step for many people; but you have to make sure the insurance is actually worth the risk. Read more

Tags: ppi, likelihood, time, professional advice, payment protection insurance, taking, loan insurance