Posted by | Category Blog | Date 28 January 2019

Consumers borrow £1.3 billion in short-term loans and repay more than £2 billion back

This week, the Financial Conduct Authority (FCA) have published the resulting insights and trends of their research into 2017-2018’s “high-cost short-term credit market”. Although the results are nothing as large as the lending volumes of 2013, they do however show a significant increase in the volume of such loans since 2016, with Press Association Personal Finance Correspondent Vicky Shaw stating that “For the year July 1 2017 to June 30

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Posted by | Category Blog | Date 11 January 2019

The average UK household debt is now at a record £15,400

Britain’s household debt mountain has reached a new record high, with UK homes now owning an average of £15,385 to places such as credit card firms, banks and other lenders, according to figures released by the TUC. The trade union body has stated that household debt had risen sharply in 2018 as years of austerity and wage stagnation forced households to increase their borrowing. The TUC said in its annual

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