Thursday, Oct 25, 2007
How Much?
Citywire: 7 in 10 homeowners con't do basic mortgage maths, says Experian
The need for financial education for adults becomes ever more pressing in the light of a survey from credit reference agency Experian which shows that 70% of homebuyers do not know what effect a 0.5% increase in mortgage interest would have on their monthly repayments.
Posted by su @ 11:31 AM (652 views) Add Comment
11 Comments
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1. shipbuilder said...
It's incredible how little time people take over the biggest purchase of their lives - these people are wide open to mis-selling, spin and received wisdom from down the pub and dinner parties. Really they should take some responsibility. The scary thing is that I know that the 70% includes financial planners and accountants.
It's this same blind faith in the trustworthiness of financial institutions (and the press) that leads to agressiveness and ridicule towards those who question those institutions.
2. Simon said...
Bad link. What is the real link?
3. Sellnowbeforeitstoolate said...
yeah, but how many can't spell 'can't'!!
4. Happy? said...
And one hundred percent of Citiwire's website is not W3C compliant and fails to render against most browsers!
5. Boarder said...
Is a Debt License (like a Driving License) needed?
6. su said...
Sorry guys, they've changed the link to a new extra long one.
I re-found it by typing in "citiwire.co.uk" then typed "mortgage maths" into the search bit. The article can then be found half way down the page. "Seven in ten homeowners can't do basic mortgage maths, says Experian"
I even managed to spell "can't" correctly this time! :-)
7. Simon said...
citiwire.co.uk goes to a link farm that says "For Investment news try these sponsored results:"
Correct the link to read citywire.co.uk. Notice the "y" instead of "i".
8. su said...
Thanks Simon.
Seven out of ten may not be able to do maths, but I'm one of the few that can't do computers!!! :- (
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