"House prices in the UK fell by 0.4% in April reversing some of the rise seen in March, according to the Nationwide.
The building society's figures show that the pace of decline in house prices slowed, but the typical home still cost 15% less than a year ago.
The price of the average property in the UK was £151,861 in April.
The group welcomed some of the moves made by Chancellor Alistair Darling in the Budget but warned this would not bring a swift turnaround in the market.
Figures showed that prices fell 3.1% in the quarter to the end of April, compared with the previous quarter.
This was less of a decline than than the 4.1% fall, using the same measure"
If repossession is still a worry for you then have a read of our repossession advice
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( 3 / 252 )I have been searching for an article on how to save money as I know that at the moment this is something that we can all do with. This article in The Times has some great practical hints and tips;
"Want to keep your household bills to a minimum, take a holiday on a shoestring, or reduce the cost of insurance?
Here are ten tips to help you cut back on your spending and links to more money-saving advice.
1. Food
Be thrifty in the kitchen and make use of your leftovers. The love food hate waste campaign has some recipe suggestions. Alternatively check out Timesonline’s seven supersaver suppers.
If you'd prefer a cheap meal out, our top ten cheap restaurant deals might come in handy.
2. Energy
Switching supplier is of limited use if your home is not energy efficient. The Energy Saving Trust's Home Energy Check details basic measures that can save hundreds of pounds a year. Paying by direct debit can also bring substantial savings.
You can complete a questionnaire about your home and find out how much money you can save on energy. Once you've carried out the check read our guide on How to switch energy supplier.
3. Mortgage
If you are benefiting from lower mortgage rates, you could consider overpaying each month. Overpaying your mortgage will improve your equity position, reduce your interest payments and can shorten the length of your mortgage. But, unfortunately, overpaying one month doesn’t mean that a payment can be missed the next.
Check out our guides on what to do if you cannot pay your mortgage, how to avoid repossession and how to remortgage if you are worried about your mortgage repayments"
We also have a great Household Budget Calculator that you might find useful!
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( 3 / 249 )I stumpled upon this article in the Guardian and thought that it might be an interesting read for anyone who struggles with their finances.
"Is money the root of all my evils? It's certainly the reason I am perched opposite financial expert Jasmine Birtles, who tells me: "You are robbing your future self. Look after her." But taking the reins on our future finances means first understanding the past, she says, since the psychology of our spending habits stem right back to childhood. "Take control of your inner child," she instructs"
I think this article probably rings true for many of us. It advises you to really think about the way you spend your money and how easy it is to get yourself into debt. If this sounds like you then take a look at our debt advice section for more information on how to tackle your problems.
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( 3 / 252 )I was interested to read an article that was in The Times last week regarding repossessions.
"Some of Britain's biggest high street lenders have refused to join a long-awaited government plan to support homeowners at risk of repossession.
Not one UK bank that is not owned or controlled by the State has pledged to join the Homeowners Mortgage Support scheme, launched yesterday.
Lenders that have refused to take part - representing more than half the mortgage market - include Abbey, the UK's second-biggest lender, Nationwide, Barclays and HSBC. The Government's failure to get them to sign up leaves more than five million homeowners outside the scheme.
Peter Vicary-Smith, chief executive of Which?, the consumer association, said: “It's disappointing that some lenders have decided not to sign up. This scheme is a great step forward and offers much-needed protection for people who find themselves in financial difficulty.”
It is estimated that 28,000 borrowers have been repossessed in the time it has taken the Government to finalise the details of its plans"
Whether the scheme will work I guess remains to be seen. If you are finding yourself in debt and fear repossession then this CAB advice guide could provide you with some useful information.
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( 3 / 249 )It is impossible to escape the recession at the moment, it is always on the news and in the papers with more stories of doom and gloom. Sadly most people will know at least someone that it has affected. The Times has a report today which shows just how bad things are getting;
The economy contracted by 1.9 per cent in the first three months of the year — the fastest rate since 1979 — as the recession continued to ravage the country, official figures showed this morning.
The dramatic fall in GDP is much higher than the 1.6 per cent drop in the final three months of last year, and also ahead of the rate of contraction that economists had forecast, dealing a blow to hopes that a slow recovery was underway.
The manufacturing sector has been hammered by the downturn, recording the biggest quarterly fall in output between January and Marchm since official records began in 1948.
Services also suffered the biggest decline in output since 1979.
It is no wonder that so many people are beginning to struggle. If you are one of them then why not have a look at how we can help. Or why not check out our tips on how to unwind.
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