Essentially Home Loans Weblog

The amount of debt that families across the UK are defaulting on has hit a record high according the figures from the Bank of England.
In the first half of 2007 banks were forced to write off £3.74bn because borrowers are failing to pay back their loans.
This means that everyday households in the UK are defaulting [...]

More and more of us are borrowing an increasing amount of money against the value of our homes, according to research from the Bank of England. In official language this is known as mortgage equity withdrawal.
The amount of mortgage equity withdrawal amounted to £49.7bn for 2006 and that was up from £36.6bn in the previous [...]

There are hundreds of programs that promise to consolidate loans and reduce debt.  The debt management industry in the UK has boomed over the last five years. This is good news for smart consumers who take advantage of affordable secured loans to reduce their debt.
Consolidating loans will lower monthly payments, but it is not always [...]

Record levels of UK credit card spending, despite recent downturns in early 2007, are forcing many consumers into bankruptcy.  Credit Advice claims that credit cards factor into 97% of the cases they see on a daily basis.
Credit card debt is high, carrying with it an almost unbearable interest rate burden. Some cards now experience as [...]

Dozens of debt management analysts have predicted that UK consumers are building too much debt as they plan their vacations.  Recent reports suggest that consumers are taking out debt consolidation loans and then using some of the money for ‘non debt’ and ‘non asset’ purchases, like a vacation.
One in four people will use debt to [...]

In May house prices typically rose by just £500.  With the falling demand for property and with the fourth interest rate rise in nine months, many house prices are actually declining.
The month of May saw the slowest paced increase so far this year, with the cost of the average home in the UK rising by [...]

The  increased debt problem in the UK reaching £1,318 billion this month has given birth to a variety of support services for people who are struggling under their debts.
A new website for people who need financial advice launches on May 07. ‘The UK Debt Forum – Discuss Debt’ (www.discussdebt.co.uk) is created for individuals who want [...]

If you currently have credit card debt and you are finding it hard to manage your finances, you may have considered debt settlement, you may want to reconsider.  Debt settlement can be a useful tool, however depending on your situation, debt settlement can be harmful to your credit report.
When you use debt settlement to settle [...]

Despite current trends among first-time homeowners to take out interest-only mortgages and homeowner loans that exceed 25 year terms, homeowners are taking their mortgage repayment seriously, and working to become mortgage-free.
The total numbers of consumers who are increasing the payments made on their homeowner loans has been increasing over the last five years, according to [...]

You may find that with credit cards it is very easy to fall into debt.  Because of the ease and convenience of making purchases on a credit card, you can easily get into debt in a matter of a few months and find it hard to make the monthly repayments.  If this is the case, [...]