UK consumers who are already facing high loan charges now have less to spend than they did at the beginning of the year, according to a new report.The Office for National Statistics has revealed that its latest savings ratio, which shows the amount Brits have after consumption, dropped from 5.1 per cent to 4.6 per cent between January and March.According to the report, the high levels of inflation has meant that many consumers are forking out more and more on essentials such as food and fuel.Charles Davis, managing economist at Centre for Economic and Business Research, revealed that the lack of consumer funds will mean that the base rate is likely to stay at its historic low rate for the foreseeable future.He said: "It is the continued squeeze on household incomes and consequent weakness in spending that means the Bank of England is likely to hold off from raising interest rates until the first quarter of 2012." Charles BakerCharles is a reputed financial analyst with almost decades of experience under his belt.
Belmont Thornton Ltd. is regulated by the Ministry of Justice in respect of regulated claims management activities; our registration is recorded on the website www.claimsregulation.gov.uk number 18273
Belmont Thornton Ltd. is incorporated in England and Wales, Company number 6621233, whose head office and registered office is at Suite 2, Unit 25, The Coda Centre, Munster Road, London, SW6 6AW. VAT Registration number 945 3375 06.
Belmont Thornton Ltd is registered with the Information Commissioners Office to ensure compliance with the Data Protection Act 1998 registration number Z1728023 and holds a Credit Consumer License issued by the Office of Fair Trading license number 634655.
Please note that calls may be recorded and email traffic monitored for the purposes of security and staff training.
* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.