Bleak Outlook for 2012 as Home Repossessions Set to Rise

With an increasing number of people facing long-term periods out of work and with more and more people facing the pressures of making ends meet, the Council of Mortgage Lenders (CML) has suggested that house repossessions are looking likely to increase in the new year. This spells an extremely gloomy outlook for many homeowners in the UK. Estimates suggest approximately 45000 properties may be at risk of repossession in 2012 – around a 5th higher than this year.

     Allied to this, with fewer bank and other lenders willing to provide mortgages, bleak times look to be ahead for the UK housing market. With such high risks associated with the current financial climate, lenders are becoming increasingly cautious as to whom they will allow to be granted a mortgage – making it extremely tough for first time buyers to break onto the housing ladder in 2012.

What is an IVA? Individual Voluntary Arrangements Explained

In the context of debt management, the term IVA stands for an Individual Voluntary Arrangement. This is essentially speaking, a legally binding contractual agreement between the two key parties involved in the debt: the debtor themselves and their creditor or collected group of creditors. IVAs will always be overseen by a qualified and legally licensed insolvency expert or practitioner who will carefully monitor the deal. 
     Although not always the best option to handle your debt, an IVA can be advantageous in some individual's personal circumstances - and can even be of benefit to both parties in the long run. This is because it will allow the debtor the possibility of avoiding the immediate negative implications of declaring themselves bankrupt - and as such, it may also therefore allow the creditors to receive a larger amount of the moneys owed to them, although often over a protracted period. 
     Not everyone will be able to manage there debts via an IVA however. In order to apply for an IVA the debtor must have a debt in excess of £15,000 and owe moneys to at least 3 separate parties. The creditor must also be in employment in order to apply and be aged 18 years or over.

Simple Ways To Beat The Recession

Across Europe it certainly feels as though the dark cloud of the recession continues to loom over us and shows few signs of going away - so how can we look to adapt the way we live to whether the storm?

Here are some simple tips that many people can apply to help them beat the recession:

Set up a Savings Account 

When times are hard its never easy to put money away - but always try to put part of your pay packet away even if its only a small amount. Cash ISAs are a great way of saving without having to pay tax on the money you make from interest payments and there are many different options on the market you can choose - many with instant access should you need it.

Shop Carefully


In a difficult financial time when consumer spending is low, shops can often be forced to become more competitive with their pricing. Shop around for the best deals on essentials - don't blow money frivolously or pay too much for convenience. Look for discounts, offers and vouchers where you can.

Live Within Your Means


It sounds so simple on paper but so many people drag themselves into spiralling debt by simply buying things they cannot afford. Buying things on credit can be tempting but always consider the interest payments and whether you really need it.

Problems with Credit Card Debt in a Medical Emergency

Credit card related debt is without question greatly known as the  main reason of all the reasons why us consumers are experiencing shocking credit ratings in the UK. The most probable cause why large numbers of people today in the world endure from this vicious circle of debt is that it is hard to hold a track of all the lifestyle of spending through theor credit or store cards. This is particularly so every time a individual is hit with some sort of a health related or perhaps non medical catastrophe and bills become unavoidable. In such states of affairs, it is out of the question to think of the consequences of outlay now that it is such a critical situation. Debt consolidation can be an option but should be considered carefully.

Footballers Buying Out High End Property

While whopping rural area dwellings were in previous years the residence of the nobility and corporate wealthy families, alleged "financial statement" abodes will be progressively resided by football players and other high paid professional athletes from around the world.

In research that was conducted by Country Life magazine, football players and other enterprise self made millionaires are today heading Great Britain's so called societal and financially elite group, that used to be ruled in yesteryear by the very top names of the corporate and blue blooded domain. However, with moden day football players now making  in the region of 200,000 each workweek it appears evident that they are the ones who have got precisely the financial potential and cliut to purchase the highest economic value property that money can buy - meaning trends in the elite property market are very much on the change.

After exploring the backgrounds of number of emptors of abodes worthy of more than a 2 million price tag in 2004, the magagzine has realised tendencies reverse from the nobility snapping up United Kingdom's huge landed estates that we saw in days gone by - to increasingly football players in their 30s and early on 40s climbing on to these "statement" abodes property ladder. While 20 percent of a typical market place in 2004 was filled by more distinctive clients such as legal professionals, accountants and urban center person.