Mark Dawson
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Consumers looking to take out a competitively-priced mortgage product should act quickly, it has been advised.
The news comes after research conducted by John Charcol indicates that all of the variable rate deals with interest of at least half a percentage point below the Bank of England's base rate were withdrawn over the course of last week.
The news comes after research conducted by John Charcol indicates that all of the variable rate deals with interest of at least half a percentage point below the Bank of England's base rate were withdrawn over the course of last week.
Potential first-time buyers are taking an increasing number of financial risks in an attempt to get on to the property ladder.
The announcement comes as new figures released by LV= show that one in six (15 per cent) of adults under the age of 35 are willing to take on a mortgage worth at least four times their annual salary. Young buyers' readiness to "borrow big" was again highlighted as five per cent of the under-35s are said to be prepared to opt for a deal worth more than five times their annual earnings.
The announcement comes as new figures released by LV= show that one in six (15 per cent) of adults under the age of 35 are willing to take on a mortgage worth at least four times their annual salary. Young buyers' readiness to "borrow big" was again highlighted as five per cent of the under-35s are said to be prepared to opt for a deal worth more than five times their annual earnings.
A number of Britons report that their debt problems are causing them difficulties in other areas of their life, according to a new study.
In research carried out by R3 - the Association of Business Recovery Professionals - one out of six consumers are said to be unable to manage with repayments on secured loans and credit cards. Of those struggling the most with their day-to-day finances, 21 per cent of respondents were reported to have encountered debt problems as a result of becoming ill, with a third (33 per cent) highlighting redundancy as the source of their monetary difficulties.
In research carried out by R3 - the Association of Business Recovery Professionals - one out of six consumers are said to be unable to manage with repayments on secured loans and credit cards. Of those struggling the most with their day-to-day finances, 21 per cent of respondents were reported to have encountered debt problems as a result of becoming ill, with a third (33 per cent) highlighting redundancy as the source of their monetary difficulties.
Consumers are borrowing more money, new figures have indicated.
In figures released by the Bank of England, total lending to individuals rose by some 10.4 billion pounds over the course of June in comparison to an increase of 9.6 billion pounds noted in the previous month. Although the 12-month rate of growth remained unchanged at 10.2 per cent, lending over the last three months was shown to have fallen by 0.
In figures released by the Bank of England, total lending to individuals rose by some 10.4 billion pounds over the course of June in comparison to an increase of 9.6 billion pounds noted in the previous month. Although the 12-month rate of growth remained unchanged at 10.2 per cent, lending over the last three months was shown to have fallen by 0.
Britons' financial optimism is faltering, it has been revealed.
In CreditExpert's personal credit index, the public's monetary confidence fell over the course of the second quarter of 2007 to 96 - the largest quarterly decrease noted so far. According to the financial services firm, the decline was due to the effects of five interest rate increases by the Bank of England's monetary policy committee (MPC) over the last 12 months and the unexpected flooding witnessed across the country in June.
In CreditExpert's personal credit index, the public's monetary confidence fell over the course of the second quarter of 2007 to 96 - the largest quarterly decrease noted so far. According to the financial services firm, the decline was due to the effects of five interest rate increases by the Bank of England's monetary policy committee (MPC) over the last 12 months and the unexpected flooding witnessed across the country in June.
The Bank of England could be set to increase the base rate next week, it has been suggested.
According to the Chartered Institute of Purchasing and Supply/NTC purchasing managers' index (PMI), manufacturing output grew to 55.7 over the course of July, up by one point from the previous month's figures and the highest level recorded since July 2004.
According to the Chartered Institute of Purchasing and Supply/NTC purchasing managers' index (PMI), manufacturing output grew to 55.7 over the course of July, up by one point from the previous month's figures and the highest level recorded since July 2004.
Millions of Britons could be losing out on "substantial returns" through a lack of financial awareness, it has been suggested.
The news comes as research carried out by Investec Private Bank indicated that just under a third (29 per cent) of savers do not know what rate of interest they are getting for the money they are setting aside. Meanwhile, only one in five respondents claim to know the exact rate they receive on all of their accounts.
The news comes as research carried out by Investec Private Bank indicated that just under a third (29 per cent) of savers do not know what rate of interest they are getting for the money they are setting aside. Meanwhile, only one in five respondents claim to know the exact rate they receive on all of their accounts.
An increasing number of consumers are developing debt difficulties, according to new research.
In a study from Thomas Charles, 8.2 million Britons are reported to have "serious" problems managing their finances. Out of these consumers, just under a quarter (2.1 million) are said to be struggling to make repayments on various aspects of borrowing such as credit cards, overdrafts and personal loans.
In a study from Thomas Charles, 8.2 million Britons are reported to have "serious" problems managing their finances. Out of these consumers, just under a quarter (2.1 million) are said to be struggling to make repayments on various aspects of borrowing such as credit cards, overdrafts and personal loans.
Women are savvier at handling their finances than men, a new set of figures suggests.
In research carried out by Engage Mutual Assurance, about two out of three females (67 per cent) are reported to find it "relatively easy" to keep up a routine of saving money. Meanwhile, 70 per cent of ladies are able to budget well, in comparison to 68 per cent of males.
In research carried out by Engage Mutual Assurance, about two out of three females (67 per cent) are reported to find it "relatively easy" to keep up a routine of saving money. Meanwhile, 70 per cent of ladies are able to budget well, in comparison to 68 per cent of males.
The level of repossessed homes could be set to rise even further, an industry expert has suggested.
According to Mark Lance, spokesperson for the Repossession Specialist, the impact of the Bank of England's monetary policy committee (MPC) increasing the base rate of interest by 1.25 percentage points over the last year "has lead to three-figure increases on homeowners' mortgage payments".
According to Mark Lance, spokesperson for the Repossession Specialist, the impact of the Bank of England's monetary policy committee (MPC) increasing the base rate of interest by 1.25 percentage points over the last year "has lead to three-figure increases on homeowners' mortgage payments".