Blogs

The first new High Street bank to open its doors in more than 100 years, Metro Bank, was launched this week but has so far failed to make an impact on the British banking industry.

The Metro Bank opened in a whirl of publicity and has promised to revolutionise their banking services, offering superb customer service and competitive products.

New figures have shown that the number of insolvencies amongst women in the UK has soared in the past ten years, with credit cards being the main cause of debt problems.

The research by the Insolvency Service revealed that 40% of all bankruptcies are attributed to women, with 29,680 cases in 2009. This is a huge jump from the year 2000 when there were only 6,042 female bankruptcy cases.

New figures have shown the number of people seeking advice about home loans has jumped up by 25% in the first half of 2010, according to research by online advice site unbiased.co.uk.

According to the advice website almost 45,000 people searched for professional loans advice by looking for a mortgage broker. The number of people seeking loans advice has soared since 2009, when the figure was just 36,000.

New research has revealed that almost one million people in the UK are struggling with their debt problems alone, with a quarter believing that their debts aren’t big enough to seek help.

A new study has revealed that debt problems are having a ‘severe impact’ on people’s lives and can affect their health, job performance and relationships.

The survey, which was carried out by the Consumer Credit Counselling Service (CCCS), found that 83% of people who had sought out financial assistance said that their debt problems had has a negative impact on many aspects of their lives.