Labour’s John McDonnell today revealed his belief that by 2022 households would be more than £19,000 in unsecured debt, excluding mortgages but including student loans - just to give an idea of the average borrowing dependency outside of borrowing on property. Most likely this isolated statement will bring little comfort to households who already are struggling with existing debts such as mortgages and credit cards that could put their credit ratings under risk. The unsecured

UK household budgets experienced another hit today as inflation unexpectedly hit its highest point in six years. Today, news from the Office of National Statistics revealed that inflation hit 3.1% in November, up 0.1 of a percent from 3.0% in October. No doubt this will put a squeeze on living costs at the other end of the spectrum to borrowing for the average consumer and/or homeowner with a mortgage. The rise in inflation was reported to be due to video games, fuel, food, c

A report by UK Finance, a representative organisation of almost three-hundred UK financial organisations foresees tough years ahead for mortgage owners under duress. Their latest report recommends that the government should strengthen support for home owners struggling to pay their mortgages – a system that is due to become limited by 2022 compared to its existing form, reports the BBC. With repossessions recently at an all-time low, in large part to low interest rates enjoye