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Consumers embarrassed about being overdrawn

Five out of ten consumers are embarrassed about being overdrawn and one in three would never tell their parents, research from Nationwide reveals.

This is despite almost 40% of people being more comfortable about going overdrawn now than they were a decade ago.

Stuart Bernau, Nationwide&#39s executive director, says: “It is interesting that so many people do not want to admit, even to friends and family, that they use an overdraft. A well-managed overdraft is nothing to be ashamed of, especially for people who have chosen a competitive interest rate.

“Many of these people are paying over the odds for their overdraft and it&#39s quite possible that some are embarrassed about their overdrafts because they know they are paying far too much for them. Our research showed that only 20% of people would be prepared to move their current account to get a better overdraft facility. My advice is: if you&#39re with an expensive provider, then shop around and switch to a better deal.”


House prices rise 0.4% in November, says Hometrack

House prices have risen by 0.4% over the past month, Hometrack&#39s November survey of the housing market reports. Highest house price rises occurred in Cumbria at 1.5%, north London at 1.1%, Hereford and Worcester at 0.9%, and Mid Wales at 0.9%. While the report show s that no county experienced price falls, the Isle of […]

SPML securitises £325m of its mortgage assets

Southern Pacific Mortgage Limited has completed the securitisation of £325m of its mortgage assets. Consisting of 85% first charge and 15% second charge mortgages, the securitisation was led by Lehman Brothers and also managed by HVB, CDC IXIS Capital Markets, Bank One Europe Limited and Fortis Bank. It was sold in US dollars, sterling and […]

LifeQuote provides insurance quotes for Trigold users

LifeQuote is to provide insurance quotations to Trigold users as part of its mortgage sourcing system. By sending client information during the mortgage sourcing process in Prospector Plus to LifeQuote&#39s online search and application website, users will quickly be able to get an insurance quote. Once a life company and premium have been selected the […]

At your service

A study by TowerGroup and Frank Eve Consulting suggests that greater website functionality is critical to speeding up the lending process. When it comes to the internet, most of the headlines have to do with online direct to consumer lending. In 2002 consumer direct web, mail, and phone mortgage lending accounted for approximately 7% of […]


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