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Tories to analyse UK debt crisis

The Conservative party has commissioned a study into the personal debt crisis after reports that household debt will top £1trillion this autumn.

Shadow chancellor Oliver Letwin has asked economist Lord Griffiths of Forestfach to chair the study and seek ways to help families deal with debt and re-adopt the savings culture.

The initiative comes as Westminster last week hosted a one-day summit where representatives of the credit industry, lenders and debt advisers met to discuss escalating debt in the UK.

Recent research shows that the average adult has debts of over £1,100. Debt from mortgages, other loans and credit cards stands at £956bn.

But Rod Murdison, proprietor of London-based Murdison & Browning says: “Doing a study on personal debt as a whole is a blunt instrument. A report on high interest rates and unsecured debt versus secured debt would be more beneficial.”


The Exchange appoints managing director

The Exchange has appointed David Child as managing director with effect from May 1. The appointment is part of an internal reorganisation of parent company Marlborough Stirling which will provide greater clarity of responsibility for operational and financial performance of its individual business units. The internal organisation of Marlborough Stirling is to be realigned as […]

Mortgage Talk gives its top mortgage deals for the week

Mortgage Talk has unveiled its top mortgage deals for the week including The Chelsea&#39s fixedrate until the April 1 2006 at 4.64%. The deal has an arrangement fee of £590, but no valuation fee. Mortgage Talk&#39s top tip for long-term fixed rates is the Nottingham&#39s fixed rate deal available until August 31 2009 at 5.15%. […]

NGM unveils offering for principals

Next Generation Mortgages is to cater for intermediaries seeking direct authorisation under the Financial Services Authority. As of yesterday, Cardiff-based NGM is rolling out its added value proposition which features 18 components to brokers and IFAs throughout the UK who have declared an intention to become principals. There will be no formal upfront charges to […]

Industry figures voice concerns over HIPs

Leading players in the housing industry voiced considerable concerns about aspects of the Housing Bill during a parliamentary briefing organised by the National Association of Estate Agents last week. The briefing brought together representatives of the property industry to brief members of both the House of Commons and House of Lords with regard to concerns […]


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