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Personal debt grows by 250,000 a minute

The UKs national debt mountain is growing by 250,000 a minute, according to studies by Credit Action.

The report, based on Bank of England statistics, showed the national debt to be at 1.278 trillion, of which mortgages accounting for 1 trillion of that debt.

Without mortgages, personal debt stands at over 4500 per adult in the UK, with mortgages the average household debt is 52,811.

A spokesman for Credit Action says: Property looks like a very attractive investment in the UK, but not if the investment is more than you can realistically afford.


Technology is fine but speed isn’t everything

I think most people in the industry would pass on their congratulations to the likes of GMAC-RFC and edeus for the technological innovations they have brought to the market.

£485M extra for social housing

The government is to pump nearly £500m more into social housing in 2007. Communities secretary Ruth Kelly unveiled further funding of £485m for Arms Length Management Organisations to invest in the social housing they manage on behalf of local authorities.

Brokers oppose AVM premiums

Some 69% of brokers say there should be no premium charged for the use of automated valuation models. In a survey by BM Solutions, the reactions of over 200 brokers to AVMs was documented, with two-thirds slamming the premium charge on them. And 86% of brokers believe consumers should be given a choice between AVMs, […]

Brokers are worth more than this

It’s about time lenders started valuing brokers more highly for the work they do, maybe paying them an hourly rate for the time they spend on cases, says Sue Read


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