Older parents are plagued by rising debt levels

iStock_000020571826_ExtraSmallStepChange formally known as the Consumer Credit Counselling Service (CCCS) and a leading debt charity, has seen a rise in the number of people over 60, with dependent children, struggling financially. Four years ago, only 407 cases required StepChange’s assistance, however, in 2012, 627 people needed help; representing a 50% increase. The charity continued by saying that dependent children could be the most likely reason behind over 60’s struggling with debt. Debt levels The average debt of parents in their 60’s, with dependent children, was in ...

Housing & Mortgage round up: Mortgage fees on the rise, whilst borrowers are left exposed

Housing & mortgage round up_istockphotoNo house price surveys to report this week, instead we focus on news that mortgage arrangement fees are on the rise, whilst a lack of savings is leaving millions of mortgage borrowers hugely exposed if they lose their job. We also bring you research which goes someway to dispel the myth that first time buyers rely on the bank of mum and dad for their mortgage deposit. Mortgage fees on the rise Despite interest ...