Sunday, July 6, 2008

Approximately 4.1 million households have fallen into this trap in the past year

Rising housing costs force seven per cent of people to take out personal loans in the past year

The research from price comparison site also found nine per cent of people have had to spend a lot more on their credit cards because of increased housing costs. Twenty per cent of people in their forties have been forced to turn to loans or credit cards to keep their heads above water. And with £30 billion worth of mortgage deals coming to an end in July, many more people will be thrown into the vicious situation of facing much higher monthly repayments.

Posted by converted lurker @ 05:30 PM (705 views)
Please complete the required fields.

One thought on “Approximately 4.1 million households have fallen into this trap in the past year

  • If you are having to spend on your credit card for day to day costs then you aren’t keeping your head above water you are sinking fast.

    This will lead not only to an increase in personal bankruptcies but will lead to further problems for the banks.

    Please complete the required fields.

Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>