Statistics from City watchdog the Financial Services Authority reveal some staggering figures regarding home repossessions.
Repossessions climbed by almost 100 per cent last year, with 13,161 families being evicted between June and September alone. This means that 1 family is being evicted every 10 minutes, after failing to keep up with mortgage payments on their homes.
Since [...]
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Michael Challiner
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Michael Challiner
The first thing that a lender will do is to try to get you to agree to pay your arrears over a period of time at the same time as making your regular monthly repayments. They may try to make this easier for you by agreeing to accept interest only monthly payments or by lengthening [...]
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Michael Challiner
Under a tightening of rules being considered by The Financial Services Authority (FSA) homebuyers could face having to raise a deposit of at least 15 per cent before they can get a mortgage. The Authority has also hinted that the amount that mortgage lenders could provide as a multiple of income could also be controlled.
The [...] -
Michael Challiner
As the economic recession continues, losing your job and as a result, your home is the nightmare uppermost in many people’s minds. But if you are worried that redundancy could be followed by your home being repossessed, there have been two positive developments.
Firstly the Royal Bank of Scotland has said that it will not commence [...] -
Michael Challiner
As the economic recession continues, losing your job and as a result, your home is the nightmare uppermost in many people’s minds. But if you are worried that redundancy could be followed by your home being repossessed, there have been two positive developments.
Firstly the Royal Bank of Scotland has said that it will not commence [...] -
Peter Nisbet
Online IRS debt help is not difficult to get. You can get into trouble with the IRS very easily, and often you don’t even know that you are doing wrong. Not everybody knows what income they have to declare, or what deductions they are entitled to, and as a result can make an unintentional false [...]
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Michael Challiner
The latest news on retirement is that it’s a very expensive luxury. Maybe your grandparents seemed to lead a blissful existence, with Grandad happily pottering in his greenhouse and Grandma having plenty of time to enjoy hobbies and planning their days out. Times have changed and reality has kicked in.
The fact is that recent figures [...] -
Michael Challiner
It is a great shock to suddenly lose an income, in the current economic climate this is happening more and more frequently. Employees can take steps to protect themselves though. Your first line of defence will be your redundancy money, any pay in lieu of notice and your ?rainy day? savings. However, there are also [...]
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Michael Challiner
Britain’s biggest credit card company is behind a new idea to give the holders of its credit card the option to stop making repayments if their income is drastically cut. In practice, it’s a form of payment protection insurance (PPI) which lenders have been barred from selling alongside forms of credit but the bank claims [...]
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Michael Challiner
You may not have heard of the term PPI or payment protection insurance, but there is a high probability you will have been asked if you want it. There are 20 million PPI policies existing in the UK. They are meant to cover you when you take out a form of credit, in case you [...]
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