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Mortgage exit fees scrapped

Around eight million adults are in serious debt - an increase of 30 per cent in the past year.According to a quarterly survey by debt consultancy Thomas Charles, some 8.2 million people, 18 per cent of the adult population have £10,000 or more of unsecured debt, and the amount they owe is growing - due to rising interest rates. A quarter of those with serious debts are finding it hard to make their repayments, up nine per cent on the year. The research found that one per cent of the population owed between £10,000 and £20,000, three per cent owed between £20,000 and £30,000 and five per cent had built up debts of over £30,000.Another poll by YouGov, showed that Londoners were the most likely to be in debt - with around 40 per cent with debts over £10,000 saying they find it tough to make repayments, compared with 20 per cent in the rest of the south and just 18 per cent in the Midlands and Wales.

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