Many consumers are putting themselves under unnecessary financial strain this winter, new research shows.

In a study published by Alliance & Leicester, almost half (42 per cent) of all Britons are concerned about their spending as Christmas approaches. Although the Bank of England's monetary policy committee elected to lower the base rate of interest by a quarter of a percentage point earlier this week, it was suggested that the effects of previous rises over the last 18 months and increases in living costs have led many people to discover their finances have become "stretched".

Those requiring a UK loan should still be able to access the form of borrowing, an industry expert has reported.

According to Helen Saxon, spokesperson for the Finance and Leasing Association (FLA), the impact of the Bank of England's five base rate rises since August 2007 has led many people to take the time to "stop and take stock of their borrowing".

Britons need to get into the habit of safeguarding their financial future, one industry expert has suggested.

According to Colin Jackson, director of Baronworth, discipline is required on the part of consumers if they are to avoid incurring pressure on their finances when they are older and to save money effectively for spending in later life.

Surging living costs may be placing many people under financial pressure in later life, new research indicates.

A study released by Sainsbury's Finance has revealed that the expense of day-to-day living costs have risen by some 4.2 per cent between October and November. This is a figure which could well impact upon consumers' ability to meet various demands on their spending such as utility bills, store cards and loans.

Britons are borrowing an increasing amount of money, new research shows.

In the latest Savings Brake study carried out by Unbiased, lending through the likes of credit cards, loans and overdrafts accounted for some 11.7 billion pounds between July and September, a figure about double of that recorded during the preceding quarter. Meanwhile, findings from the firm also indicated that savings decreased by more than 11 billion pounds over the course of the third quarter of 2007.

Consumers looking to get to grips with their finances over the next 12 months may wish to consider applying for a personal loan, one industry expert has suggested.

According to Julia Harris, mortgage analyst for Moneyfacts, numerous commentators are predicting that 2008 will be a "tough year in the personal finance world". This leads her to state that for those looking to get to grips with their spending in the coming year, "now is the time to get prepared for the rough ride ahead".

Prospective first-time buyers are putting themselves under more financial pressure in an attempt to get on to the housing market, new research indicates.

In figures released by Moneyextra, the value of the average home purchased by such consumers has risen by three per cent to stand at 187,911 pounds. And with the typical first-time buyer mortgage now accounting for 133,943 pounds, the personal finance publication suggested that these people need some two years' average earnings just to be able to afford a deposit.

The availability of loans and other types of borrowing may be set to diminish, a new Bank of England report shows.

In the Bank's latest Credit Conditions Survey, a number of loan lenders have stated that they have had to become stricter about to whom they issue borrowing. And with many Britons finding that mortgages are harder to come by, in addition to increased monthly repayments, the cost of having a home may be impacting upon their ability to meet other demands on their finances such as home loans and credit cards.

Applying for a debt consolidation loan can be a useful means for people to get their finances back on track, an industry expert has suggested.

According to Iain Wrenshall, director of Debt Help UK, taking out such a loan can help borrowers get out of the red effectively. In doing so, consumers can meet a number of demands on their spending quickly by merging them into a single low-rate monthly repayment.

Although personal loans can prove to be a very useful source of financial help, prospective borrowers need to select such a product with caution.

Such is the claim of Moneyfacts, which states that the taking out of a personal loan for debt consolidation purposes can be an "ideal solution" for many consumers. It was suggested taking out a loan could assist many people in lowering the various demands on their spending and reducing the amount of interest paid each month.