Cost To Rent Increasing

Cost To Rent Increasing

The cost to rent a property in England and Wales increased to £696 per month on average in May according to a new survey by LSL Property Services.

The survey also found that more than 1 in 10 people were late or missed their rent payment in May.

The rocketing cost of living, combined with ongoing difficulty first-time buyers are experiencing in obtaining a mortgage, is increasing the number reliant on rental accommodation,” said David Newnes, of LSL.

 

Debt Support Trust is a registered debt advice charity (SC041902) providing debt advice on a range of debt solutions including;

Benefits Advice

General Debt Advice

Individual Voluntary Agreement (IVA)

Protected Trust Deed

Refinance

Bankruptcy

Sequestration

Debt Management Plan

Friday, June 17,2011
Debt Support Trust
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Public Sector Retirement Pension Changes

Public Sector Pension Changes

The public sector retirement age is likly to increase with new changes being brought in. This will mean that public sector retirement will be linked with the state sector pension age.

The state sector pension age is 66 and currently people who work for the public sector are able to retire earlier than people in the state sector however these reforms would change that.

The new plans will exclude some public sector workers these are

  • police,
  • fire service
  • army

The changes will see 750,000 protesters who are angry about the changes march on 30th June.

 

Debt Support Trust is a registered debt advice charity (SC041902) providing debt advice on a range of debt solutions including;

Benefits Advice

General Debt Advice

Individual Voluntary Agreement (IVA)

Protected Trust Deed

Refinance

Bankruptcy

Sequestration

Debt Management Plan

Friday, June 17,2011
Debt Support Trust
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UK Retail Sales Drop 1.4%

UK Retail Sales Drop 1.4%

According to new figure released by Office for National Statistics (ONS), UK retail Sales fell 1.4% in May.

In April sales had increased 1.1% from March however many people believed the increase was due to many other factors i.e bank holidays.

Food and fuel now account for half of all spending and there was a 3.5% drop in food sales which was the biggest drop since June 2008.

 

Debt Support Trust is a registered debt advice charity (SC041902) providing debt advice on a range of debt solutions including;

Benefits Advice

General Debt Advice

Individual Voluntary Agreement (IVA)

Protected Trust Deed

Refinance

Bankruptcy

Sequestration

Debt Management Plan

Thursday, June 16,2011
Debt Support Trust
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Cheque Backed By Minister

Cheque Backed By Minister

According to Mark Hoben the Financial Secretary to the Treasury, “there is no credible or coherent case” for cheques to be abolished before an alternative is found.

Mr Hoben was speaking at a Treasury Committee hearing into the future of cheques which was examining the plans to scrap cheques.

“It is an appalling mess. It is a scandal. This is even worse than a colossal error of judgement,” said committee chairman Andrew Tyrie.

 

Debt Support Trust is a registered debt advice charity (SC041902) providing debt advice on a range of debt solutions including;

Benefits Advice

General Debt Advice

Individual Voluntary Agreement (IVA)

Protected Trust Deed

Refinance

Bankruptcy

Sequestration

Debt Management Plan

Thursday, June 16,2011
Debt Support Trust
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Northern Rock For Sale

Northern Rock For Sale

Chancellor George Osbourne has announced plans to sell Northern Rock which was nationalised in 2008 when the recession began.

The announcement came in speech made yesterday about ring fencing retail banking from investment banking in order to protect the retail sector from bad investments. Mr Osbourne has stated he will sell the bank to a single buyer however has not rejected other options.

The plans include spliting the bank into two, one is the “good” customers savings and 70 branches and the “bad” which has more toxic loans.

 

Debt Support Trust is a registered debt advice charity (SC041902) providing debt advice on a range of debt solutions including;

Benefits Advice

General Debt Advice

Individual Voluntary Agreement (IVA)

Protected Trust Deed

Refinance

Bankruptcy

Sequestration

Debt Management Plan

Thursday, June 16,2011
Debt Support Trust
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UK Unemployment Total Falls To 2.43m

UK Unemployment Total Falls To 2.43m

According to new figures released today, UK unemployment has fallen by 88,000 to 2.43m in the three months to April.

The number of people claiming jobseekers allowance grew in May by 19,600 to leave the overall claimant rate at 1.49m which is the biggest rise since July 2009.

The statistics were released by the Office for National Statistics (ONS) who found that the the unemployment rate fell overall by 0.2%

 

Debt Support Trust is a registered debt advice charity (SC041902) providing debt advice on a range of debt solutions including;

Benefits Advice

General Debt Advice

Individual Voluntary Agreement (IVA)

Protected Trust Deed

Refinance

Bankruptcy

Sequestration

Debt Management Plan

Wednesday, June 15,2011
Debt Support Trust
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Chancellor To Protect Retail from Investment Banking

Chancellor To Protect Retail from Investment Banking

The Chancellor George Osbourne is set to announce changes to the UK banking system to help protect retail banking from investment banking.

Acording to sources it is understood that Mr Osbourne will force banks to ring fence their retail banking in order to stop it being affected by investment banking.

In a speech later today the Chancellor is expect to announce he the privatisation of Northern Rock which was nationilised in 2008.

 

Debt Support Trust is a registered debt advice charity (SC041902) providing debt advice on a range of debt solutions including;

Benefits Advice

General Debt Advice

Individual Voluntary Agreement (IVA)

Protected Trust Deed

Refinance

Bankruptcy

Sequestration

Debt Management Plan

Wednesday, June 15,2011
Debt Support Trust
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OFT Crackdown On Debt Industry Rogues

OFT Crackdown On Debt Industry Rogues

The UK debt industry is under greater scrutiny and debt management firms must raise standards or face enforcement action according to David Fisher, a director of the OFT.

The announcement has come as the Office of Fair Trading begin it’s consultation on new rules to make rogue companies treat their clients fairer.

The debt companies who mislead customers through advertising or wording on their website could face losing their consumer credit licence.

David Fisher, a director of the OFT, said: “This guidance is designed to leave firms in no doubt about the standards the OFT expects and what they must do to comply with the law.”

 

Debt Support Trust is a registered debt advice charity (SC041902) providing debt advice on a range of debt solutions including;

Benefits Advice

General Debt Advice

Individual Voluntary Agreement (IVA)

Protected Trust Deed

Refinance

Bankruptcy

Sequestration

Debt Management Plan

Tuesday, June 14,2011
Debt Support Trust
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Mortgage Lending Rise 8% In April

Mortgage Lending Rise 8% In April

According to a new report by the Council of Mortage Lenders (CML), new mortage approval rate increased by 8% to 40,900 in April.

While this is the fourth monthly increase in mortgage loans it is still 2% lower than it was in April last year.

Michael Coogan, the CML’s director general, said: “The market continues on a stable footing and the increase in house purchase lending is a good sign that the stability will continue throughout 2011.”

“However, the economic outlook, coupled with Bank of England subdued approvals data for April, suggests a muted summer for mortgage completions so we do not expect further increases in lending over the coming months,” he added.

 

Debt Support Trust is a registered debt advice charity (SC041902) providing debt advice on a range of debt solutions including;

Benefits Advice

General Debt Advice

Individual Voluntary Agreement (IVA)

Protected Trust Deed

Refinance

Bankruptcy

Sequestration

Debt Management Plan

Tuesday, June 14,2011
Debt Support Trust
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UK Inflation Holds At 4.5%

UK Inflation Holds At 4.5%

According to the Consumer Price Index (CPI), UK inflation has remained at 4.5% in May after a jump of 0.5% in April.

Fuel and food both increased again this month with a jump of 1.3% from April however the biggest increase year on year has been alchohol and tobacco with an increase of 9.8%.

The bank of England has stated that it expects inflation to reach 5% in the next few months which is above it’s 2% target.

 

Debt Support Trust is a registered debt advice charity (SC041902) providing debt advice on a range of debt solutions including;

Benefits Advice

General Debt Advice

Individual Voluntary Agreement (IVA)

Protected Trust Deed

Refinance

Bankruptcy

Sequestration

Debt Management Plan

Tuesday, June 14,2011
Debt Support Trust
read more