Property Rescue Blog

Recent falls in home prices are not enough to allow most would-be first-time homebuyers to get on the property ladder. This is according to a YouGov survey that revealed an astounding 86% of people between the ages of 18 and 30 who do not already own their home would not currently be able to afford to purchase a home if they desired.

The number of people in the UK who are of working age and who are not currently working increased by 110,000 during the first quarter of this year, ending in a record high of 8.16 million.

As we continue to see cuts in government spending, the latest program on the chopping block appears to be the Child Trust Fund. Currently, parents receive a voucher for at least £250 to invest for each newborn child, with an additional payment made after the child reaches the age of seven.

According to an estimate by uSwitch, UK consumers currently owe approximately £728 million on energy bills. While some figures seem promising, such as the numbers showing that 5.5 million households (21%) are currently in debt to their energy suppliers, compared to 6.5 million (25%) last year, this does not show the entire picture.

A YouGov survey commissioned for Financial Planning Week 2009 found that one in 20 Brits will seek professional financial assistance to improve their finances.

Without further borrowing, access to disposable cash is scarily low according to research conducted by Aviva. Aviva estimates that the average British household, without further borrowing, would only be able to get a hold of £914 of disposable cash.

Household debts are on the rise in the UK, partially due to many families relying on credit cards and loans to make ends meet during the recent recession and continuing to do so during the slow recovery the economy is now experiencing.

Worrying trends in credit card use are emerging in the UK as research begins to show the true depth of the reliance Brits have developed on credit cards.

Financial help calls have reached record highs with the Consumer Credit Counselling Service (CCCS) reporting over 93,000 calls from consumers needing help with their personal debts in the first quarter of 2010.

Some of the UK’s major train operators have recently been accused of surreptitiously increasing train fares by extending what are considered peak hours.