Monday, Dec 11, 2006
Huge mortgages & debts: No prob say Bank Of England. Rate rise affordable HELL YE
Free Help Advice: Huge mortgages & debts: No prob say Bank Of England. Rate rise affordable HELL YE
An annual survey commissioned by the Bank of England, has shown that the majority of homeowners in UK have no difficulties in meeting their mortgage payments. However, the survey showed that the number of people who are having trouble paying their mortgage has increased for the fourth year in a row. The survey, which covered 1,844 people, showed that the proportion of borrowers admitting to difficulties in meeting their mortgage payments had risen from just over 7 per cent to 7.7 per cent. This figure hit a low of 5 per cent in 2003. The survey also showed that the number of households, which admitted that their unsecured debts (personal loans and credit card bills) were a burden to them, has fallen significantly. This trend reflects the recent shift towards secured debts, seen in UK.
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