Thursday, January 31, 2008
Economist Howard Archer – ‘Housing market activity is now being substantially undermined
The number of borrowers struggling to meet mortgage payments has soared by 700 per cent, a housing charity has said. Homeowners seeking advice on how to tackle mortgage problems have surged in number from 10,000 to 80,000 in the past year, according to Shelter. The figures were a sign that more and more people were in danger of having their homes repossessed and that ministers needed to act urgently to help those at risk, the charity said.