 Mortgages |
| Search News |
|
|
| Find an IFA |
|
|
| Browse |
|
| UK Spotlight |
The last few months have seen the differing strategies and opinions of the Bank of England and the government come to the fore at a time when the UK economy needs all parties to be pulling in the...
→
Read More
|
|
| Disclaimer |
| Financialadvice.co.uk adheres to the Financial
Services and Markets Act 2000. This site contains only factual and
readily available public information. |
|
|
| |
|
|
|
|
Monday 9th July 2007
There were over 460,000 cases of missed mortgage payments over the past six months, according to research by MoneyExpert.com
The comparison website added that in 2006 an average of 36,000 homeowners defaulted on mortgage payments each month. People aged between 35 and 44 were the most likely to have missed mortgage payments, according to the research.
MoneyExpert.com chief executive Sean Gardner said: "Missing a mortgage payment is a real signal of distress and anyone in such dire straits needs to address the issue as soon as possible."
He advised mortgage holders close to defaulting on payments to cut spending and to reduce debt by keeping credit card expenditure under control.
Mr Gardner also recommended looking at consolidated loans and secured loans against the value of homes if one was in danger of not meeting payments.
The Bank of England has raised interest rates by 1.25 per cent since August 2006 and the latest increase has increased payments on tracker mortgages and standard variable rates.
It has also made mortgage repayment a heavier burden for those whose fixed rate deals had just come to an end.
|
→ Full Mortgages News Archive
→ Return to Homepage
|
|
|
|
| Other top stories in this section:
|
|
|
|
