loan news

A new survey by consumer site uSwitch has revealed that almost one fifth of people have debt problems as a result of trying to meet everyday costs.

uSwitch carried out the survey in order to gauge people’s feelings about their finances in the run up to the Emergency Budget, which will take place next week. The study showed that 18% are turning to debt in order to fund their everyday costs, whilst a further 14% are struggling to keep up with repayments.

Housebuilder Bovis Homes has agreed a deal with Barclays to guarantee mortgages bank taken out by their customers in a bid to offer 90% loan-to-value home loans, showing just how difficult it is to secure a mortgage for first time buyers.

The housebuilding company have joined forced with Barclays to offer the 90% loan-to-value mortgage and will guarantee mortgages taken out by customers, in a bid to raise the demand for new houses.

A new survey has found that parents took out £37million worth of loans last year in order to pay for their children’s education.

The survey by Sainsbury’s Finance showed that around 4,400 personal loans were taken out last year, with the average amount borrowed being £8,500. The loans were taken out by parents in order to cover the costs for their children’s university fees, school fees or to cover the costs of general education.

A new poll has shown that more than one third of Britons would risk debt problems and use their credit cards if it meant that they could go on holiday.

The survey, by travel guide giants Lonely Planet, have said that when it comes to holidays 35% of people surveyed said they would be willing to pay for all the costs using their credit cards.

The Chairman and Chief Executive of the Student Loans Company (SLC) have been forced to quit after thousands of students were left without grants or loans following the chaos of the loans system.

John Goodfellow was asked to step down as Chairman while the Chief Executive Ralph Seymour-Jackson was forced to quit after ministers said they had ‘no confidence’ in his leadership.