This month’s Debt News includes Halifax increasing mortgage rates, Thames Water warning of an increase in water bills, a housing association encouraging workers to take on debt, the court fined a driver for driving the wrong way, and a mother challenging an unfair penalty charge. You can catch up on bite-size debt states and monthly Debt Talk podcasts.
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Debt News
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Britain’s biggest mortgage lender Halifax among major banks to increase rates
Britain’s biggest mortgage lender Halifax has become the latest brand to reveal it will increase mortgage rates this week, following a slew of other hikes earlier this week.
More here: Link
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Thames Water warns of even bigger surge in bills under new plan
Thames Water wants to bring bills up to at least £608 a year by 2030 - and possibly even higher
More here: Link
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Housing association 'encouraging staff into debt' by offering loans as workers strike
A housing association has been accused of encouraging its workers to take on debt after it started offering hard-up staff access to loans instead of agreeing to increase pay.
More here: Link
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Court fines motorway driver who drove the wrong way down M6
A motorist caught driving the wrong way down a motorway has been fined by the courts.
More here: Link
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Mum goes to court over 'unfair' £300 parking fine and judge rules company should pay her
A mum refused to pay an "unfair" £300 parking ticket for two years until she was taken to court - where she 'won' and the company was ordered to pay her.
More here: link
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(Apr 2024) - Debt Talk: Poverty & ethnicity premium (Podcast)
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Bite Size Stats:
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At the start of Q2 of FYE 2024, London LAs reported £599 million outstanding overpaid HB, just over a third (36%) of the GB total. At the start of Q2 of FYE 2024, 90% of the outstanding overpaid HB in GB was in LAs in England, 3% in LAs in Wales and 8% in LAs in Scotland ( Gov UK)
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Ofgem has found that energy debt levels now stand at a staggering £3.1 billion—billion, not million—and that the average debt has increased by about 50% over the last 12 months, with the number of households in debt increasing by about 20%.(Hansard)
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38% of those seeking debt advice were full-time employed, however, recent data (December) for 2023 reveals a six percentage points increase to 44%. Compared to 2021, in 2023 we saw slightly more full-time employed clients who are women, aged 35-49, with children, and homeowners seeking debt advice (Step Change)
(Mar 2024) - Debt Talk: Consumer Duty & the debt sector (Podcast)
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