35 Year Mortgages – Can You Afford Not to Have One?
One in four first time buyers are taking out a mortgage that will last 35 years or more. Claire Miller, writing for the The Mirror, reports this week on a phenomenon, which could see borrowers in mortgage debt all their working lives and possibly well into their 70s. Continue reading “35 Year Mortgages – Can You Afford Not to Have One?”
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Gambling & Debt Crises – A News Week that could have been Avoided
Two financial news stories broke this week which have particularly saddened me. Two tales of situations where the financially vulnerable in our society have suffered unnecessarily, perhaps even been exploited. And this is heartbreaking, as the human pain and suffering could so easily have been prevented. Continue reading “Gambling & Debt Crises – A News Week that could have been Avoided”
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Mark Carney is Right
A few weeks ago, I used this blog to welcome Mark Carney’s warning that families are seriously over-indulging on car finance and credit card debt. And this week, the Castlight team were delighted to see two pages of the The Sunday Times newspaper reporting on Bank of England initiatives to demand more detailed information from lenders on how they approve loans. Continue reading “Mark Carney is Right”
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Responsible Disruption
Uber, apparently the most valuable venture-backed company in history, has taken a tumble. Like all disrupters It was on a mission to change the world, to deliver a service that would cut right through the way people normally did things, and make life easier to navigate. But it has got itself mired in lawsuits and corporate culture chaos. Continue reading “Responsible Disruption”
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Castlight – Up for the Challenge
Earlier this month, our COO, Martin Leonard took part in an amazing fundraising event. He was part of a three man relay team that swam the 24 mile length of Loch Lomond to raise money for the Scottish charity John Maurice Aitken Trust, which provides support for those in financial hardship. Continue reading “Castlight – Up for the Challenge”
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Going on a Summer Holiday?
Taking a family of four on a summer holiday now costs an average of £1,212 according to new research quoted on the This is Money financial website. It’s a lot of money but we all, maybe subconsciously, appreciate that taking time out to spend with friends and family is important. Continue reading “Going on a Summer Holiday?”
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Mark Carney’s Warning: We Need a New Zeitgeist of Affordability
Mark Carney warned this week that Britain could be heading for another economic crash as households over extend on consumer credit. It seems, as a nation, we have short memories. Continue reading “Mark Carney’s Warning: We Need a New Zeitgeist of Affordability”
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Sub-Prime Lending: Lets Stop the Next Financial Tsunami
10 years ago the US sub-prime mortgage market hit the rocks and triggered a financial tsunami around the world. Many of us, I’m sure, will never forget the sight of panicked queues outside Northern Rock banks as the waves of destruction reached UK shores and began to lap at the doors of our High Street banks.
There were many reasons for the financial crisis – it was, in fact, a perfect storm. Continue reading “Sub-Prime Lending: Lets Stop the Next Financial Tsunami”
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The Bank of Mum and Dad Ends Tomorrow
Last week, it was reported in the press that British parents will lend or give more than £6.5 billion this year to help their children buy their first home. This figure is up from £5 billion in 2016. And it seems that the phenomenon is here to stay. It already has its own acronym. BOMAD. The Bank of Mum and Dad. Continue reading “The Bank of Mum and Dad Ends Tomorrow”
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A Week of Awards in the Company of Fellow Disrupters
It has been a whirlwind of a week for the Castlight team. In the course of just a few days Castlight has won the first ever Deloitte’s Disrupt the Enterprise event to be held in Scotland and then we secured a place for the live final of TEDxGlasgow at the beginning of June. Continue reading “A Week of Awards in the Company of Fellow Disrupters”
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