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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Posted by | Category Blog, useful information | Date 18 December 2018

Does a guarantor have any rights?

If you become a guarantor you might think that you are signing your life away - and you may be wondering if you have any rights. The answer is yes and no. For starters, being a guarantor means that you have an obligation to cover any payments that are not made by the main beneficiary. So if you have agreed to co-sign a loan agreement with a family member or

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Posted by | Category Blog | Date 29 November 2018

Amigo Loans Reports 40% Rise in Profits

Guarantor loan market leader, Amigo Loans, posted a 40% increase in profits this year, despite a 1.15% fall in share price at 262p. The Bournemouth based lender floated on the stock exchange earlier this year with a £1.3 billion valuation which pocketed £327 million for the founders of the company. The firm has since raised £150 million in the form of securitisation, taking their loan book into a

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Posted by | Category Blog | Date 22 November 2018

Black Friday Statistics

The Black Friday frenzy is upon us! Whilst the 'holiday' used to be a way for American companies to see their profits to go from the red into the black after Thanksgiving, the discounting day has become a worldwide phenomena and the UK has jumped on the bandwagon. Here are some quick stats on Black Friday for you: Expected spending to be £7 billion this year, up from £4.5

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Posted by | Category Blog | Date 12 November 2018

Archbishop Welby Fails To Get Momentum For Loans Alternative

Britain's Archbishop of Canterbury, Justin Welby, has failed to get momentum in his war against 'high cost loans.' The regularly outspoken minister has always spoken openly about his war against high cost loans such as payday loans and other forms of high cost-credit. The Archbishop received a recent surge to his campaign against high cost lending when the market leader's Wonga, recent announced its administration. This comes falling an

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