Archive for 05/2012

Food waste a threat to UK debt levels

UK households are carelessly throwing away hundreds of Pounds worth of food on average each year, a report by frozen foods manufacturer Birds Eye has found. The analysis comes as a complete surprise, since households had previously demonstrated remarkable determination to keep the lid on food spending: Far more than 50% claimed they'd begun to change their eating behaviour in the face of the currently rough financial climate, for example, 47% of families were eating out less, and many others were either buying cheaper products or buying in larger quantities to reduce costs.

These good intentions were apparently now being brought to nought. Not only was the reported food waste causing massive ecological issues, but it was also actively contributing to already dangerously high debt levels

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How an eccount can compensate for sudden mortgage rates rises

Mortgage customers with a Standard Variable Rate (SVR) would do well to apply for an eccount, eccount money's Will Thomas has said. Recent SVR hikes by some of the UK's leading banks have sent interest payments sky-rocketing for thousands of borrowers across the country.

On May 1st, Halifax, Bank of Ireland, Clydesdale and Yorkshire banks as well as the Co-Operative bank raised their SVR from a meagerly 0,5% to around 4% on average. As a result, some debtors may no longer be able to afford their monthly payments, raising the threat of massive defaults and individual insolvencies. The answer, according to Thomas, consisted in a combination of adjusting one's mortgage plans and sensible budgeting

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